Previous post in this series: Financial Intelligence in MLM Network Marketing pt. 10 – Multiple Sources of Income a Fairy Tale ?

Today I want to continue my series about financial intelligence or financial literacy, one of my favourite subjects.

Financial intelligence is closely related to emotional intelligence, that means your ability to control your emotions.

I mean control – not suppress. We all have emotions, the only question is: Who is the master, who is the slave ? Do you control your emotions, or do your emotions control you ?

When it comes to money, we all face the emotions of fear and greed.

Fear of not having enough money, or fear of losing it. Because of this fear we are also greedy and we are overly competitive which comes out of a mentality of lack and scarcity.

Once we’ve got money, we spend it – sometimes as quickly as possible – because we don’t master the concept of delayed gratification. Out of lack of emotional control we want instant gratification. Without the ability of delaying gratification, we are unable to build a long-lasting business where we work long hours – for free. Is this an explanation for people switching opportunities like underwear or collecting them like stamps ? Is this an explanation why people get caught in their own spiderweb of multiple streams of income that end up being multiple streams of outgo ?

Don’t get me wrong: A little bit of greed is OK and the ego needs goals that are not “sensible” – that’s a great motivation. The only question is: Who is the master, who is the slave ? Me being the slave of my ego ? No thanks. My ego being my best employee ? Wonderful.

I also embrace the concept of multiple streams of income, but not different MLM Network Marketing businesses or businesses that are closely related to this industry, but businesses in other industries running without me and cashflow from real estate investments run by the best property management team on this planet – passive income.

Why ? To be successful in life and business, you need to focus. People think that in order for them to make more money, they need to market several opportunities. More opportunities, more money – sounds logical, doesn’t it ?

And so they try to even make money from lead generation and focus on building a subordinate system originally designed to serve the main system, their MLM opportunity. They focus on making 10 $ one time with an uninterested prospect rather than building pipelines to come across interested folks so that they attract more people that make them 100 $ or even more on a monthly recurring basis. Do you see and feel the difference ?

With the ability of controlling your emotions and handling delayed gratification, you can focus on one thing because you are not afraid of missing anything or not making enough money. This fear has its origin in an attitude of lack and in the emotion of greed.

I hear you saying, some of you even screaming: Diversification ! Let me put it this way: Warren Buffet says, when it comes to investing: Diversification is for people who don’t know what they’re doing. People who know what they’re doing focus. Chances are that this idea also applies to our industry.

That means: Do your due diligence, check the five pillars and make your choice. Your best choice. An then focus, focus, focus. Give your best: “Work as if all depended on you, and pray as if all depended on God.” (Alfred Stielau-Pallas)

Delay gratification, build a really huge business over time, invest the excess of money in real estate for example and buy your luxury goods with the excess of your investments. By the way, that’s not my idea, that’s the idea of Robert Kiyosaki.

I recently came across a lady who was in two MLM businesses (she loves the products, that’s another evergreen) and a lead generation system business. And doesn’t make a dime though she wants to replace $ 10,000 a month as quickly as possible. Instead of focusing on building one really good business, she winds up trapped in her own spiderweb of businesses and winds up losing. That is losing by design not accident. Is this lady an exception ? I don’t think so when I take a look at several Facebook profiles.

On our last call, this lady asked me about my opinion about a 3rd MLM opportunity.

Next post in this series: Financial Intelligence in MLM Network Marketing Pt. 12 – How To Shop Without Money and Why

What is your opinion ?

I always love your reaction, so please leave me a comment down below with questions, thoughts, or feedback.

And (yes, here’s my call to action) please share this post with your Twitter and Facebook friends by clicking on the share buttons.

I appreciate you telling others.

To a prosperous life,

Oliver Tausend
+1 201 984 5664 office North America (anytime)
+49 1512 9125216 office Germany & other countries (anytime)
Skype ID: guernsey2016 (anytime)
wordpress@olivertausend.com
Financial literacy: Get free generic training for your success in MLM and educate yourself

Related posts

• Financial Intelligence in MLM Network Marketing Pt. 1
• Think And Grow Rich – The Devil’s Workshop Pt. 2
• The Millionaire Mind Intensive Seminar – Undo The Brainwashing To Poverty Pt. 6
• Think And Grow Rich – The Ghost Of Fear Of Criticism
• The Black Swan - Or: Show Me The Cemetery
• Blogging Basics For MLM Success Part 1
• Financial Intelligence in MLM Network Marketing Pt. 9 - MLM and Gravity
• MLM Success With Think And Grow Rich And Oliver Tausend Pt. 15 - The Six Ghosts Of Fear
• MLM: Learning The Skills From Tom 'Big Al' Schreiter Pt. 1
• MLM Success With Think And Grow Rich And Oliver Tausend Pt. 14 - The Sixth Sense