When we talk about business, there are basically 3 income strategies – M1, M2, and M3.
Do you know what they are?
Bob Proctor, the author and motivational speaker describes it so well in his talks, teachings and educational programs. He was my first mentor and I have learned so much from him over the years attending his events and online programs.
If you don’t know about these strategies, then let me relate to you what he says.
M1 – is where you trade your time for money.
For example, a doctor is paid based on the service he provides. But he can only see so many patients in a day – he is limited by the number of hours in a day, and his appointment schedule. So is maximum earnings are limited.
Bob calls this ‘saturation’.
Most people fall into this category. In fact, Bob Proctor says M1 applies to approximately 95-96% of the population.
M2 – is the business of investing money to earn money.
With this one, you generally have to begin with a significant amount of money to invest, and there is a higher risk associated with this strategy.
According to Bob, only 3% of the population fall into this category. A very small number indeed.
M3 – finally, this is a strategy of leverage.
After learning about these income strategies early on in my home based business, I decided I had to be part of the M3 strategy.
This is why I built a business that has residual income attached to it and from there, invested in real estate properties.
So M3 is multiplying your time through the efforts of others and thus setting up multiples sources of income.
This is the strategy that wealthy people use.
It makes sense because they use the leverage of others and follow the rule “don’t put all your eggs in one basket”.
They are constantly looking for different passive or residual income streams.
Bob says that only 1% of the population are M3 and “they earn around 96% of all the money that is earned.”
Bob is also a strong supporter of the network marketing business model because he sees it as way to leverage others and develop a separate stream of income.
In past blogs I have talked about generating residual income and establishing side businesses as a means to leverage others instead of staying in the M1 strategy.
I have used this strategy effectively to build a real estate investing business, a network marketing business, and a coaching business.
Do I leverage others? Absolutely! And you can too!
So make a decision to switch to the M3 Strategy, today.
You will never regret the decision.
If you need help or additional advice, let’s chat. You can book a free 30 minute call with me here.