Tuesday, June 9, 2009

Bob Proctor - Live - Multiple Sources of Income

Here are some other gems I picked up from seeing Bob Proctor live and in person.

There are three ways people in this world make money.

The main way, which is the way no doubt you and everyone you know is currently employing is to exchange time and effort for money. IE - hold a job. That is the way 96% of the world earns a living. And combined the earn something like 3% of all the wealth in the world. That is one ugly statistic.

But it makes sense if you think about it. Think of all the rich and famous people out there. Did a single one of them become that way by 'working hard'? I'm sure they did put in some hard work, but no one gets rich by hard work alone in and of itself. Any fool can simply work harder and many do.

The second means to achieve wealth is to use money to make money. In other words, stocks, buying and resell property, etc. About 3% of the world does this and in exchange that 3% earns something like 1% of all the wealth out there. That is infinitely better than 96% splitting 3%. The only problem here is not that many people are really good at the stock market, and it's risky, damn risky.

The third means to achieve wealth is to multiply your time. How? By having multiple sources of income. Not multiple jobs but finding various means to generate cash without heavy time investments to yourself personally. The 1% of people who master this are earning 96% of the world's wealth. They are multi-millionaires and billionaires. Nor are they exactly 'sweating' to earn that cash.

Think about it. Billionaires like Bill Gates, Warren Buffet and major corporations like Sony or Pepsi don't own one business - they may be best known for one but inevitably they have spread their wings and have multiple businesses or revenue streams going. Even rappers have gotten in on the act. How do you think people like Jay Z, P. Diddy and others are getting so rich? Not by their music alone, that's just their foot in the door, they are using the cash and fame they earned by rapping to start clothes lines, colognes, to produce other artists, etc. They are rich because they understand this principal.

But how do you find these multiple sources of income?

Let me share another of Bob's keys - The Prosperity Formula

Their are 3 'C's in this formula.

Consciousness - You must first be aware of how success works. If you're reading this site, reading the books I've suggested, and subscribing to things like Six Minutes to Success then you will have a solid understanding or awareness of what allows success.

Creativity - Where do songs, inventions, stories, ideas and all creative thought come from? Ask anyone who's written a song, book, or created an invention or idea. Unless they stole it from someone they'll enviably say 'It just came to me'. All creative thought is pull from the spiritual plane or thought plane of existence. It must be because it certainly doesn't exist in our physical plane until it first enters someone's mind and they physically manifest that thought.

That spiritual plane of thought, where all ideas past, present and future exist and has always existed is there for any and everyone to use. You only need to tap into it. How? In simple terms, by first believing that you can and then allowing it to happen naturally.

When we reflect back on our billionaires we can see that creative thought is what set them apart from everyone else. They tend to think of new ideas that either improve existing processes or better peoples lives in some way and put those things into action.

Think of any business. Who is paid more? The front line staff or the President/CEO? Obviously the President/CEO and those around him are paid the most. Why? Because they are highly educated? No. In fact someone on the front line of the organization may have had the exact same education, and possibly even better grades but they are still making a small salary while the President/CEO is racking in many times their earnings. People on the top are the ones with the creative vision to propel the company forward. They don't even necessarily need to be educated at all. Thomas Edison and Henry Ford were both High School drop outs.

So creative thought and not hard work alone is the key to success.

The last C is Connections.

Surround yourself with people who are also on the road to success. Who will encourage and support your ideas and purpose.

Also expanding your network of friends will allow you to have access to more opportunities.

So going back to Multiple Sources of income, you need to understand that 'how' you are going to find them shouldn't be a concern. Once you understand the Prosperity Formula you will find the ideas for them will start to merely come to you in alignment with your goals and purpose and in direct response to your passion and belief in what you are doing.