Is Working Hard Really the Best Way to Create an Income?
By: Monique Myers – SuccessfullyHome
Today I am going to talk about MSI technology – or multiple sources of income –
I am going to explain it on a level that even if you have never heard of it, you will understand it by the end of this article. Okay?
So, let’s dive into it.
But first, who am I?
My name is Monique Myers and I have been studying personal development and MSI technology for the past year with Bob Proctor -if you have seen the movie ‘The Secret’, you will know who Bob Proctor is. If not, make a note and try to watch it this weekend – it is worth your while.
Anyway. Let’s talk a little about work…on a Saturday morning.
I think by now most people know about the cash flow quadrant from Robert Kiyosaki, right?
Top left you have the Employee, bottom left Self Employed, top right Business owner, bottom right Investor
So to re-cap that a little:
As an employee you have a job, you work for someone else and you trade your time for money. Hours for dollars, or Euros, or Yen…wherever you are. Now, it’s easy to understand that there is a definite cap to your income potential. You can get a raise, you can work more hours, get a second, even a third and a fourth job, but there are only 24 hours in a day. And somewhere you have to sleep.
When you are Self Employed you basically own a Job. It is yours, you can not get fired…unless you fire yourself. But, you still have to trade hours for money. You do a lot of work you don’t get compensated for, like marketing for example. So, when you divide your time by the profit you make, it may be less then working as an employee. And when you go on vacation you don’t make any money. So can you really a 6 week vacation?
Top right is the Business Owner…now this includes Multiple Sources of Income, and your income is passive income. You have other people working for you to generate that income.
Bottom left is the Investor. The are the people – the very few- that have money working for them. Here it takes money to make money and a lot of new investors lose their shirt. But a lot of new investors, or wanna be investors lose their shirt
So where does MSI technology fit in?
M stands for Money. There are 3 basic income strategies.
M1, M2, and M3
M1 here is where the Employee and Self-Employed fall in. 96% of the work force is either an employee or self employed and trades their time for money. As I explained above, that is easily capped out. You only have 24 hours in a day.
M2, This is where the investor houses. About 3% of the people fall into this category. Money is put to work to make money. Here you can say it takes money to make money, and it is slightly better than M1 since here you are leveraging money. But, think about it, even if we would like to move up into this category, we would need to step out of M1 to earn enough money to invest it. The bank here, won’t even invest it for you if you don’t have 6 months worth of expenses saved.
And that brings us to M3. Only about 1% of the people use this strategy – but it is where most of the money is made.
This is where the Business owners fall. Here is where you leverage your time and effort of a group of people as a team. You can have a traditional business, and as long as you can scale it, you can keep multiplying your income. You can have multiple businesses…in this strategy you are leveraging your employees. The more employees, or team members, the higher income. And if they don’t have to be at the office – it is a passive income for them.
Artists, authors, musicians…they all fall in the M3 category – they leverage their skills and talents, and earn passive income.
So a true M3 that gives you the ability to leverage time, talents, skills, tools, teams, and opportunities will allow you to live life on your own terms, have unlimited potential and have time freedom…
This is not about working harder – this is truly working smarter…
~By Monique Myers / SuccessfullyHome.com
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