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Terri: Okay. How do I make more money? I want you to hold that question for just a minute. Then I want you to answer that question. How would you make more money?
Terry: I need to leverage my time.
Terri: Okay… leverage your time is number one. What else? Let me back up. What do you mean by leverage your time? And give me a clear action that goes with this if you would, Terry.
Terry: The first thing that pops into my mind is the video company that I’m working with: the streaming media. Their commission structure is a network marketing commission structure, which means I basically build a business in two respects. One is on the retail side, where I go out and talk to customers and they come into the business. When they sign up, it’s a residual, monthly income. So, they sign up once and I talk to them back and forth about the product but then I’ll be leveraging my time because I don’t have to talk to them every single day. And, the money will keep coming in because it’s residual as long as they keep their account.
On the other side of the business is the true leverage where I help people build a business the same that I’m doing and I’m able to leverage my time through them. I’ll train them on a 30-day one-on-one process and then we get into group coaching as well. Then, we work them into that business and show them what I do in my business so that they can duplicate that and do it themselves. Then, I’m leveraging my time by allowing others to do the same thing that I’m doing.
That was the first thing that popped into my mind about leveraging. That’s going to be able to bring in more income than I’m indirectly responsible for but not something that I have to physically spend one hour and bring in money.
Terri: Okay. So, leveraging sounds like it’s one way to bring more money in. What else?
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