Monday, May 11, 2009

Day #1 First Things First… I NEED A JOB!

I have read a lot of books on how to become wealthy. No I am not rich, but I would like to be some day. It’s a good dream.
Right now if you have been following along you’ll notice that I am looking for a job. All of the wealth building books tell me that a job will never make you rich. They give advice about building streams of “Passive Income”, all this really means is finding a way to do the work once, but get paid continually. Sounds like a great Idea and I can give you a couple great examples.
Example number 1:Electricity. When you moved into your home you had to have the power turned on (and you only did it once) but you pay every month for the service.
Example number 2:Loans. When you go to the bank to take out a loan you get the money, and every month you pay some of it back. After a while you’ve paid the bank back but now you have to pay interest (actually banks make you pay interest first) usually when everything is done you end up paying roughly double the cost of whatever it is that you bought with the loan. PAY attention though, the bank makes a stream of money every month even though they only gave you the loan once.
Example number 3:Rent: If you rent your home you are helping make somebody else rich. Good Job. Nobody gets rich without the help of somebody else. Every month you pay your landlord rent. He only bought the house once, and he rented it out to you once, but you pay him every month. I like real estate.
[[ If you want to learn more about passive income click here]]
I tell you these things because I want to make you aware of the ONLY job that I know of that can make you wealthy. This career field can allow you to build streams of passive income.
Most of you are going to hate me for saying that. That’s fine, you don’t need to get a job in this career field to make money, even to make GOOD money. You do need this job if you want a JOB that creates passive income. If you don’t want a JOB that brings in passive income, you might be more interested in a BUSINESS that brings in passive income. I’ll get to those in future posts! But right now I am looking for a JOB so I can have some MONEY to open a BUSINESS of my own, and all the things I want to do involve making passive income.
Imagine a job where you are basically a cashier and a customer comes and buys something from you and pays $30.00 for it. But every month you also make another $10.00 off of this one customer. Let’s take a look at how that would work
One customer per day = $30cash & $10 per monthx 30 days = $900cash & $300 per monthx 12 month = $10,800cash & $3,600 per monthForget about the $10,800; but notice that even if I don’t make any more sales after 12 months I STILL have the stream of $3,600 per month.
Now imagine that you still have the same job, but instead of being a cashier you have to find people who want your product by advertising… still sounds like a good job to me.
What if you also had to convince people to buy your product? You know it’s a good product and you just need to get somebody to look at it, answer their questions, and help them decide that they want to buy this product.
Yes, I am talking about SALES! Follow me here, I am not an expert at sales, but I have seen the commission structure of enough companies to know that in many cases sales is one of the best ways to go.
Let me digress here and clarify something. There are lots of companies that offer sales positions. Most of them are not what I am talking about. Take a look that the list below
Straight Commission: WORST sales job for anybody looking to become wealthy. Why? Because you only get paid when you make a sale. You can make lots of money with this type of job, but not if you don’t go out and make sales.
Base pay Plus Commission: This is a great job for people starting out in sales, but it is NOT a good job for building streams of passive income. Think of this as a stepping stone, spend about 6 months in this field then move on to the next step in creating passive income. I am not a sales expert. So this is where I will start my job search.
Commission plus Residual: Remember in the example where you make $10 per month every month for each customer who buys from you? That is called a residual in most industries; it is also what is known as PASSIVE income. Money that you do the work for once (and it can be very hard work indeed) but you get paid for over and over again. This is what I hope to be doing six months from today.
Back to my main point. If you want to become wealthy you need to create streams of passive income. You can get a head start in building those streams by starting a career in sales.
Now nobody is good at sales to begin with. Like any skill, especially any skill that can bring in lots of money, it takes practice. My biggest problem with sales is that I always chose the Straight Commission or the Commission plus Residual when I didn’t have any sales experience! Can imagine, you’ve never played football in your life, but suddenly you’re competing in the NFL with multimillion dollar players? YOU WOULD BE MURDERED! I was, and I learned from it.
You may have had similar experiences. The only thing I can recommend (and I recommend very highly that you head this message) is that you put that all behind you, read a few sales blogs, a few sales books, and get a job with a base pay while you gain the experience you will need to make sales in the big leagues.
I am looking for job right now, and since I know I need more experience in sales, I will be looking for a job with a base pay just like the advice that I gave you. Wish me luck!