Women have more options than ever before to earn income. While comparison pay with men still lags behind, our economy is forgiving and there are new innovating ways for women to earn more than men.
What profession has 5.3 million people (at the end of 2016) who are actively building income for themselves and 74% are women? The largest age segment in this innovated profession is between 35-44 (26%). The age segment that is catching up and the fastest growing is between 25-34.
My Experience With This Profession
When I was in high school I really didn’t have a clue what I wanted to do. My dad was a plumber and his dad before him. My dad did teach me how to use my hands and I’m forever grateful for that. He said there were only three things I needed to know to become a plumber; “Poop rolls downhill, the boss is an SOB, and payday is Friday.” In the summer of my junior year of high school, I was able to work in the plumbing trade. It’s hot in Las Vegas and it was certainly hot working in ditches laying pipe and digging trenches in 100+ degree temperatures. I guess not knowing much as a 16-year-old kid, I didn’t care because I had more money that summer than all my friends. I was making $8 an hour! That was 1972.
It was the right choice for me to go to college where I earned a Bachelors of Science Degree in Business Administration with a major in Accounting from UNLV. I would go on to become a partner in a large local CPA firm. I met some great people and was fascinated with the entrepreneurs I served. They were honest people to a fault. They worked extremely hard and had way more money than the wage and salary earners that I prepared tax returns for.
In time I wanted more than what was offered me as a partner in a CPA firm. I didn’t want to slave for hours and hours especially during the grind of tax season (January through April 15th) nor was I particularly fond of employee matters. I didn’t think I needed to follow what my dad, mom and almost everyone I knew did, the Play Less & Work More plan.
The best thing that ever happened to me was believing that I could Play More & Work Less.
With that small spark of vision, I began to explore different ways to earn money although, to be honest, it wasn’t really a focused nor determined search. It just came to me in my ordinary quest for knowledge. I’m a sponge for how things work, especially the human mind and body.
One of my greatest finds was a used paperback copy of Think and Grow Rich that I purchased for $5 from a pile of used books in St. George, Utah while passing through on my way back home to Las Vegas. It’s mindboggling how fate works. I didn’t read it right away and I took it with me to pass the time while I was attending a boring two-day continuing education seminar that I needed to keep my CPA license active. In the seminar, once I started to read the book, I could not put it down as I tuned out everything taught during the seminar. Napoleon Hill, the author, spoke directly to my soul. That was 2004.
I read the book three times during those two days. I highlighted and wrote in the margins (see picture above). From that time on, my quest to Play More & Work Less was in high gear.
(Note: The knowledge I applied from that $5 investment has yielded me millions of dollars of income. I’ve often wondered who resold it back to the bookstore? I wonder where they are at today.)
Your Earning Opportunity Starts with a Vision
I want you to walk down a dried river bed with me.
As the story is told, Raymond Holliwell and his wife were searching for different things as they walked down a dried river bed together. Raymond was looking for gourds on vines that might have been used in Navaho Indian rituals.
Raymond’s wife was looking to find bright stones. As Raymond tells the story in his book, Working With the Law, (with emphasis)
“Recently my wife and I went out exploring along a dried up river bed on the desert. She was especially interested in collecting bright stones containing gold, silver, copper, and iron that are commonly found in this country. I, in turn, was looking for gourds that I knew would grow wild where there had been moisture. I was interested in gathering the kind that the native Indians used in their hogans, and particularly the kind they selected for their ceremonial dances. There we were together, she walking about picking up these rare stones, and I looking around for the vines that held the gourds. I didn’t even see the stones, and I am sure she didn’t see many of the gourds. Both walking together, yet we were seeing differently because we were looking for different things. We see in life that which interests us the most and pass blindly by that which is of little or no interest. It is here in this simple practice that many of us may be making our mistakes. We may be so interested in things that are not prosperous, joyful, and healthy that we pass by the very things we desire most[…]”
You see, I was able to find opportunity in the book Think and Grow Rich because I had a vision to Play More & Work Less. Perhaps the former owner of the book “pass[ed] by the very things we desire most” and may have lacked vision.
We see in life that which interests us the most and pass blindly by that which is of little or no interest.
To find the best income earning opportunity, you have to be looking for something that will either lead you to it or it will find you. A wise woman taught me, “Whoever you are looking for, they are also looking for you. ”
The Best Income Opportunity for Women
There are many opportunities for those with a vision and desire to serve others. Looking in my dying dad’s eyes while he was bedridden with cancer, he had lost hope. I’d never seen that in my dad or any other person. It scared me. Dad’s life choices caused him to lose choices as there were no medical choices he could make to heal himself. He passed away about a month later. I vowed then and there that I would not live my life without being able to make any choice I desired. That event in my life caused me to seek the freedom of Play More & Work Less that my dad or his generation never enjoyed.
My health and my income earnings allow me to make any choice I want.
There are only four ways to earn income
- You can work for someone else,
- You can be an investor and have money work for you,
- You can be self-employed, or
- You can own a big business.
Let’s look at each one of these.
1. You can work for someone else
You’ve probably already done the “work for someone else” plan and learned, perhaps even the hard way, it’s not really the opportunity you seek to have more time for you and your family and the money runs out before the month does. There are a micro few who can do this and retire or have real free time to enjoy with their family or even themselves. Even for those very few, it’s done in two phases. Phase One of their life: Play Less & Work More, then onto Phase Two, 40 years later, of Play More & Work None.
2. You can be an investor and have money work for you
While its wise to save, the reality is there are so few who will ever have enough to accomplish using assets to provide for their full needs. I was a former Investment Advisor and Financial Planner to go with my CPA. I learned some startling statistics about American retirees. According to an article authored by CNBC,
“Nearly half of families have no retirement account savings at all,” the Economic Policy Institute (EPI) reported, even in savings vehicles such as IRAs and 401(k)s. The median for U.S. families is just $5,000, and the median for families with some savings is $60,000.
And, according to a 2016 GOBankingRates survey, 35 percent of all adults in the U.S. have only several hundred dollars in their savings accounts and 34 percent have zero savings.”
I hope you are not in those doomy statistics.
Bottom line here, there is a massive train wreck about to happen over the next 20-30 years and many Americans will be faced with poverty. I think more and more parents, because of this train wreck, will end up living with their adult children.
I think more and more parents, because of this train wreck, will end up living with their adult children.
3. You can be self-employed
Awe, the American dream of working for yourself. There is a huge measure of satisfaction working for yourself. That’s probably why you’re reading this. Remember all those years I served entrepreneurs as their CPA? They were all self-employed. Yes, they had money. Yes, they took great vacations and enjoyed a great standard of living. But at what cost? Many were like my client Monty who owned a business that supported framing contractors. When starting his business he couldn’t afford to rent an apartment and slept on the floor of his business. He would regularly start work at 3 am and quit at 7 pm. I admired Monty a great deal. He was lucky too. He sold his business right before the 2009 economic crash that killed the Las Vegas economy. He’ll tell you that he wouldn’t have made it after that. He took his money from selling his business and invested it. Monty discovered that the earnings of his investments didn’t come close to the standard of living the business provided him. Monty went back to work with his son to do it all over again.
4. You can own a big business
All big businesses were once little businesses that grew up. A big business does create what working for someone else and for yourself doesn’t, a big business provides leverage and time freedom. This is the only way I saw how to Play More & Work Less. I had to somehow leverage my time like an owner of a big business who could hire another manager to take care of yet another store while he was holing out a putt on the 18th green in Hawaii. When I started looking to find leverage I was 49 years old. I didn’t have 20 years to make a small business into a big business.
Combining Each of the Four is the Right Opportunity
I discovered a way to:
- Work for yourself and earning a great income (without employees),
- Without needing much capital to get started,
- Creating an income producing asset with the efforts of others,
- Serving the needs of others in what you’re passionate about,
- That would create big business leverage, and most importantly,
- Allow you to Play More & Work Less.
I could have started this next discussion from the very beginning. Would you still be reading if I did? I hope you’ve made it this far.
The business that has all these attributes is network marketing.
My Young Friend’s Story
Network marketing, unfortunately, has not overcome all of its negative views however in my years since starting in 2006, I’ve seen a large shift in positive views. I also began with a negative view but upon reflection and meeting some great people involved in network marketing, like the Vavra’s above, I really learned that I had a negative view of insecure pesky network marketers. You know the kind; they twist your arm, make major claims and don’t listen to a word you say. You’re almost overwhelmed.
As a former CPA, I studied the business and compensation model and in my opinion, it’s sound.
After really looking at network marketing I met some who solved the Play More & Work Less plan and I was open to learning more how they did that. I had to overcome several myths that are spread about it the profession.
False Information Spread About Network Marketing
It’s all the unsuccessful people in network marketing that spread most of the false information and beliefs about it. Doesn’t it make sense to believe those who have been successful over those who have failed?
Myth: I can’t sell
Unfortunately, this belief has turned away more people from what might have been a successful career in network marketing. The truth is that those entering network marketing and employ strong-armed selling tactics usually fail.
Network marketing is about “sharing” what worked and “helping” people achieve their own personal goals. Successful networkers are active listeners and only offer solutions when given permission. We act as consultants so a prospect can make their own choice. This is why woman excel at network marketing.
Sales tactics to pressure others with psychological games tend to be dishonest and will cause prospects to decline.
Myth: I’m an introvert
To think every top earning network marketing professional is gregarious and outgoing is blatantly false. In fact, most of the top professionals are actually female introverts. As you’ve read above, this is a people service business. Introverts serve others very well. Introverts take time to get to know their customer and their needs. They shy away from the fanfare and quietly lead others. I’m an introvert!
Myth: I don’t know very many people
This belief is really spread around by the amateurs in the profession. Because of the compensation model of most network marketing companies, developing leaders is actually more profitable than recruiting tons of people. Take for example Dave and Cary M, from St. George, Utah, who have over 270,000 people in their organization. They have been involved for 13 years and have only recruited about 160 people. They focused on creating leaders. They didn’t create more followers. Leaders create additional leaders. Those 160 turned into about 100 top leaders. Those 100 were taught to do the same thing as Dave and Cary; find and develop more leaders. Their 100 leaders in 13 years became over 270,000 distributors and customers.
It’s often said by top leaders that it’s not who you know when you join that’s important. It’s whom you will get to know after you start. In fact, you’ll recruit others, who may only recruit one or two into the organization and they turn out to be your top leaders. You didn’t know them in the beginning, but someone you knew, knew of them.
Myth: My family and friends will think I’m stupid for doing network marketing
There may be some family and friends who will think you are stupid for doing network marketing. As Eric Worre, a top trainer in network marketing, says, “You must accept a temporary loss of social esteem from ignorant people.” Regardless of any business or income opportunity you start, people who are insecure will mock you as an entrepreneur. These people are not comfortable taking a risk, therefore, anyone who is not like them, they have to criticize and judge. If you decide network marketing is right for you after you start you’ll know you’re on the right path when people start to mock and judge you.
Play More & Work Less
I’ll be the first to tell you that there is much work involved in network marketing. The biggest work will be to grow and learn and face your fears. That was hard for me too. I never had to face my fears as a CPA. Yet, now, I had to become a leader and learn how to really serve others.
The compensation model is so efficient, it creates the opportunity to earn a full-time income only working part-time, i.e., Work Less. When you have a full-time income working less, you can Play More.
What Company Would be Best for You?
This is perhaps the most important question you might ask. You probably have some passion about certain things in your life. For me, as an example, I loved helping people gain health and earn income. This passion is connected to my dad as I explained above. It’s possible that you are already a customer of a network marketing company. Have you ever bought product or services from a friend who was a distributor of one? Whatever your vision and passion, there is probably a company right for you.
According to Susan Sly, a top network marketing professional and a distributor in my own company, indicate the following are characteristics of a good network marketing company. From her book, Inspired to Win in MLM, she says,
- There must be a physical product or service.
- The company must not be making unsubstantiated claims such as, “This juice cures cancer.” The FDA will first fine the company and then the company can be shut down.
- There must be a buyer program. People must be able to purchase goods and services without having to distribute.
- The company must provide excellent training and ideally have the most fundamental training available without additional cost.
- The company must have the infrastructure in place to meet demand.
- The company that has industry experts and/or people with a successful background in direct selling has advantages because corporate decisions affect the field.
- Many companies go out of business within their first two years, so choosing a company that is two years or older can have certain advantages.
- In this era, a company with a strong internet presence is essential.
- A company that has consumables ensures that some consumers will re-order.
- The compensation plan must be fair. Is there an opportunity for a new distributor to out-earn their sponsor?
- Does the compensation plan require distributors to give away sponsorships to their upline team members? This has many disadvantages.
- Can an affiliate make money simply by retailing or do they have to physically enroll new member before their commissions begin? Be leery of any company that does not allow for retail direct sales to consumers.
- Look at the Income Earnings Disclosure statement for the company.
- If the company is publicly traded, do your research on their stock performance.
- Does the company have evidence that people are making the type of income that is being promoted?
- If possible, check out a local presentation and meet some of the people who are already involved.
- Does the company require distributors to continually personally enroll new members in order to get paid? If so, there isn’t true residual income.
- Does the company encourage personal growth?
- Are the leaders/owners of the company ethical? Do not hesitate to Google or use other Internet search engines to research the people at the top.
- Can you see yourself staying with this company for years?
- Is the product/service something you would use yourself?
- Is the company registered with the Better Business Bureau?
- Does the company encourage a form of marketing that you can utilize?
Becoming a network marketing professional was right for me. It allowed me to find purpose in my work of helping others. It’s a billion dollar health and wellness company. I’ve worked hard at it but never as much as I worked as a CPA. I’ve earned almost a million dollars as a distributor. I do Play More & Work Less. Completing 15 full distance Ironman Triathlons is a testament to all of the six characteristics I mentioned above.
I hope you will consider network marketing. As a woman, you have many distinct advantages. In fact, about 74% of all distributors in network marketing today are females. There is one thing you have in common with all those top earning women leaders, you all had to start from the beginning.