Secrets Millionaire Mind
Chapter 11: Want to be paid according to results
Education is cheap;
experience is expensive. — Robert Kiyosaki
You must have heard this advice once:
“Go to school,
get good grades,
then get a good job, have a stable salary,
work hard and try, …
you will get there anyway in lasting happy life”?
I don’t know what you think,
but I’d love to see that nail-biting claim in writing.
Unfortunately, that wise advice is taken from Fairy Tales,
Volume I, right after bedtime stories.
You can verify that claim for yourself with your own experience
and through the lives of people around you.
What I want to discuss here is the idea behind the concept of “stable wages”.
There’s nothing wrong with having a steady paycheck,
unless it prevents you from accessing higher income opportunities
based on what you deserve.
Therein lies the crux of the problem.
And often so.
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Prosperity Rule #26:
There’s nothing wrong with having a steady paycheck,
unless it prevents you from accessing higher income opportunities
based on what you deserve.
Therein lies the crux of the problem.
And often so.
The poor want to receive a steady salary or hourly wages.
They need the “guarantee” of knowing that
an exact amount will arrive at a precise time, every month.
What they don’t realize is that
security has a price,
and the price to pay is their own wealth and prosperity.
When you need assurance,
you are living in fear, you are implying:
“Based on the results of my work,
then I am afraid that I will not be able to earn enough money to live on.
So I will accept just enough income to survive.”
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The rich like to be paid based on all
or part of the results they produce.
The rich often run their own businesses of some kind.
They generate income from their profits.
Rich people work for commissions or percentages of sales.
Rich people choose shares and profit sharing options,
instead of agreeing to a higher salary.
Please note that there is no guarantee here for any of the above types of income,
although we all know that in the financial world,
return is always proportional to risk.
Rich people believe in themselves,
in their worth and abilities.
The poor do not.
That’s why they need reassurance.
Recently, I was dealing with a public relations consultant.
She wants me to pay a service fee of $4,000 per month.
I asked her, what would I get in return for that $4,000.
She replied that I would have to spend at least $20,000 a month on media,
if I didn’t use her solution.
I said, “What if you don’t deliver those results or similar values?”.
She replied that she would still charge from time to time,
because she deserved it.
I replied, “I have no intention of paying for your time.
I pay you based on specific results,
and if you don’t produce results, why should I pay you?
On the other hand, if she delivers greater results,
she deserves to be paid more.
Now I offer this:
I will pay you 50% of the value of the media value you bring.
According to her numbers just above,
that would mean she gets $10,000 a month,
more than double her suggested salary.”
Does she agree with that approach?
No! Is she needy?
Have! And she will remain poor for the rest of her life,
unless she realizes that in order to be rich,
one needs to be paid based on performance.
Poor people sell their time to earn money,
while time is limited.
In this case, you broke the most important Rule of Prosperity:
“Never put a limit on your income”.
If you want to be rewarded over time,
you seem to be stifling your own chances of prosperity.
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Prosperity Rule #27:
Never put a limit on your earnings.
The same law applies to the personal service sector,
where you’re usually paid for the time you work.
That is why lawyers, accountants, consultants, generally speaking,
people who are not yet partners in the business,
and therefore do not share profits
despite their best efforts, but only average income.
Let’s say you are in the business of ballpoint pens
and you receive an order for 50,000 pieces.
What you will do?
You would simply call the supplier,
order 50,000 pens,
send them to the ordering party,
and happily count the profits.
Let’s say you’re a massage therapist
and you’re lucky to have 50,000 people lined up outside the door
waiting for their turn.
What would you do in that case?
You must be a friend
Regret for not trading ballpoint pens!
Do you know what else to do?
You go and explain to the person at the end of the line that
they should come “a little late”, and in
Their appointment will say:
Tuesday, at 3:15, four decades later!
I’m not saying that the personal service business is a no-no.
Just don’t expect to get rich quick,
unless you figure out how to clone yourself.
At courses, I often meet people who are paid monthly
or weekly, and they often complain to me that they are not being paid properly.
My answer was:
“Unworthy in whose opinion?
I’m sure your boss thinks you’re well paid.
Why don’t you boldly throw away that monotonous monthly salary
and claim to be paid based on your performance?
Oh, if that’s not the case,
why don’t you start your own company and work for yourself?
At that time, you will know exactly your self-worth
through the numbers of profits that you generate.”
Looks like this advice doesn’t move those people.
Perhaps they are afraid to test their true worth in the marketplace.
Most people’s fear of getting paid for results is often
just an anxiety about breaking one of their subconscious pre-conditions.
In my personal experience,
most people follow the path of a stable income.
All hold the old mindset
that it is the “standard” way to pay for their work.
You can’t blame your parents for making you think that way.
(I guess you can, if you’re a good “victim”.)
Most parents tend to be overly protective of their children,
so it’s understandable
that they do everything they can to help their children have a peaceful life.
Perhaps you realize it yourself.
Any job that does not generate a stable income is strongly reacted by parents:
“When will you find a real job?”.
I remember when my mother asked that question,
I immediately replied, “I hope never!”.
My mother was very angry, but my father said,
“I think it’s great.
You will never get rich if you just rely on a fixed monthly salary
while working for someone else.
If you want to find a job,
make sure you get paid a percentage of the profits you make.
If not, work for yourself!”.
I also encourage you to work for yourself by starting your own business,
working on a commission,
as a percentage of the company’s sales or earnings,
or choosing a stock split part.
Whatever your job or choice,
create a situation that allows you to get paid based on the actual results
and efforts you put in.
In my opinion,
anyone can build a model or run a business,
whether full-time or part-time.
The top reason is that
the vast majority of millionaires have become rich
by growing their own businesses.
The next reason is that getting rich is hard
when taxes already make up almost half of your earnings.
Once you own your own business,
you can save a considerable amount of money
by deducting tax avoidable expenses like your car,
travel,
training,
even your house.
That reason alone is worth it for you
to build your own business.
If you can’t come up with a good business idea,
don’t fret: you can use other people’s ideas.
For example,
you can become a salesman on commission.
Did you know sales is one of the highest paying professions in the world?
If you are good,
you can make a fortune from this job.
You can also join a network marketing company.
There are dozens of companies around the world that
are working efficiently
with all the products
and systems available
so you can start working right away.
With just a small amount of money,
you can become a distributor
and enjoy all the benefits of owning a business,
although you will encounter some administrative difficulties.
If that feels right to you,
a network marketing model could be the vehicle
for you to get rich.
But, and this is a big BUT,
don’t think you’ve found the free money making tool.
The network marketing model only works if you work effectively,
which means you have to put in the effort in training,
and spend enough time and energy to succeed.
Once you succeed,
the income level is about $20,000 to $50,000 per month,
yes, per month,
is possible,
and many people have already done so.
Just signing up and becoming a part-time distributor gives you
a lot of tax incentives,
and maybe you will like the product so much
that you will offer it to others
and eventually earn a decent income,
create momentum for you to bounce.
You also have another option is
to exchange your “stable job” for a “contractual” position.
Your boss will likely agree to hire your company,
rather than you personally,
to do essentially the work that you do now.
This approach requires you to go through some legal formalities,
but if you have a few more clients,
even if only part-time,
your income can still be equivalent
to that of a business owner,
not a business owner,
employees,
and at the same time you enjoy the tax exemption provisions for business owners.
Who knows, maybe your part-time customers will turn into full-time customers,
bringing gives you the opportunity to “multiply” yourself
or hire more workers to handle those jobs.
And then, you will become a business owner
and run your own business.
You may be thinking,
“My boss will never accept that option.”
But I don’t believe so.
You must understand that the company has to spend a lot of fees
to have an employee.
They not only pay salaries,
but also have to pay a large amount of money to the state,
averaging about 25% or more,
of the total salary received by employees,
not to mention other welfare costs that
employees are entitled to enjoy.
You’ll save the company up to 50% on costs
if they hire you as an independent consultant,
instead of a full-time employee.
Of course, you won’t get as many benefits
as you did when you were an employee,
but the tax savings alone give you the ability
to buy the very best you need.
After all, the only way to get an income that is truly commensurate
with your self-worth is
to choose the option of getting paid based on your performance.
My father was right when he said,
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“You will never get rich
if you just rely on a fixed monthly salary working
for someone else.
If you want to find a job,
make sure you get paid a percentage of the profits you make.
If not, work for yourself!”.
To this day, that’s still wise advice!
Don’t wish it was easier wish you were better.
Don’t wish for less problems wish for more skills.
Don’t wish for less challenge wish for more wisdom. – Jim Rohn
DECLARATION: Place your hand on your chest and say…
“I want to be paid based on performance.”
Then you put your hand on your forehead and say…
“I have a Millionaire Mindset!”. We are self made millionaire.
