Categories
mindset

5 Massive Differences Between a Rich and Poor Mindset

Network marketers fail in the business not because they lack the desire or skills to succeed but because they do not have the right mindset.

Are you someone with a wealthy or poor mindset? Watch the video…

There are some fundamental differences between people who are rich and people who don’t have so much. And it’s not just money. Sure, some people are born into wealthy families or who might get a helping hand through luck or inheritance but mostly, it comes down to mindset. How you think about money, success and the likelihood that you’ll make it boils down to 5 major factors.

1. How do You React to a Surplus?

People with a poor mindset tend to react to a windfall or some extra money as a chance for a splurge. They grab it as a once in a blue moon opportunity to have some fun. A poor mindset believes in scarcity – money doesn’t come along that often, so enjoy it while you can.

A wealthy mindset sees it differently. They use it to boost more intangible things like investing in their business or their education. A surplus can be used to build wealth, not run it down.

2. Set Your Mindset to Investment

People with a wealthy mindset are always thinking of how to keep their abundance momentum going. They spend their time, energy, and resources on generating more wealth and setting up their system to keep it generating value into the future.

A poor mindset is overshadowed by scarcity and anxiety and has a short-term focus, often living from one paycheck to the next without thinking about long term returns on their efforts.

3. Get Comfortable with Risk

How do you feel about risk? Are you comfortable with making decisions or investments where there may not be a reward until further down the track, if ever? Or are you focused on short term quid pro quo?

A wealthy mindset is prepared to take a chance, to take calculated risks in the hope of a future reward.

4. Make Your Own Luck

If you have a scarcity mindset, you probably think that rich people are lucky and that the world is unfair. Worse, someone with a poor mindset blames others for their lack of wealth, and even think that they are owed.

A wealthy mindset realizes that frequently you make your own luck. Sure, timing helps, but you also need to be able to recognize and be open to opportunities. To take a few risks, and say yes more than no. They appreciate their good fortune and work to make it happen.

5. There is No End Point

A major difference between rich and poor mindsets is that someone with a poor mindset believes that success is some kind of endpoint. For them, success is the top of the mountain when all effort stops, and you can kick back and enjoy yourself.

A wealthy mindset knows that success is a continual process. Life is all about opportunities, learning, and growing. And that includes growing your wealth.

#RichVersusPoorMindset

#WealthyVersusPoorMindset

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Categories
cryptocurrencies ponzi scheme

Multi Level Marketing Businesses and Ponzi Schemes Using Virtual Currencies

MLM and Cryptocurrencies are NOT Illegal

MLM and cryptocurrency companies are legal in the U.S. when executed properly, under the right regulations. There are massive regulations at the state level but enforcement is almost always at the federal level since these companies cross state boarders.

Cryptocurrency MLMs are also legal – when adhering to both MLM and cryptocurrency laws simultaneously. So when you are presented a cryptocurrency MLM opportunity, should you jump right in or look for red flags?

Investor.gov Alert: Ponzi Schemes Using Virtual Currencies

On July 23, 2013, the Security Exchange Commission (SEC) Office of Investor Education and Advocacy issued this investor alert to warn individual investors about fraudulent investment schemes that may involve Bitcoin and other virtual currencies.

Ponzi Schemes Defined

“A Ponzi scheme is an investment scam that involves the payment of purported returns to existing investors from funds contributed by new investors.

Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, rather than engaging in any legitimate investment activity, the fraudulent actors focus on attracting new money to make promised payments to earlier investors as well as to divert some of these “invested” funds for personal use. The SEC investigates and prosecutes many Ponzi scheme cases each year to prevent new victims from being harmed and to maximize recovery of assets to investors.

As with many frauds, Ponzi scheme organizers often use the latest innovation, technology, product or growth industry to entice investors and give their scheme the promise of high returns. Potential investors are often less skeptical of an investment opportunity when assessing something novel, new or “cutting-edge.”

Look Out for Potential Scams Using Virtual Currency

“Virtual currencies, such as Bitcoin, have recently become popular and are intended to serve as a type of money. They may be traded on online exchanges for conventional currencies, including the U.S. dollar, or used to purchase goods or services, usually online.

We are concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure investors into Ponzi and other schemes in which these currencies are used to facilitate fraudulent, or simply fabricated, investments or transactions. The fraud may also involve an unregistered offering or trading platform. These schemes often promise high returns for getting in on the ground floor of a growing Internet phenomenon.

Fraudsters may also be attracted to using virtual currencies to perpetrate their frauds because transactions in virtual currencies supposedly have greater privacy benefits and less regulatory oversight than transactions in conventional currencies. Any investment in securities in the United States remains subject to the jurisdiction of the SEC regardless of whether the investment is made in U.S. dollars or a virtual currency.  In particular, individuals selling investments are typically subject to federal or state licensing requirements.“

Cryptoqueen’s OneCoin tops the MLM Hall of Shame

Dr. Ruja Ignatova, Founder of OneCoin at Wembley SSE Arena, 2016

Dr. Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency that was the “Bitcoin killer”, and persuaded them to invest billions. Since OneCoin’s founding in 2014 to 2016, sources estimate OneCoin took in about $4 Billion from investors globally. Then in 2017, she disappeared. OneCoin headquarters in Sofia, Bulgaria was raided and its servers were shutdown in January 2018. OneCoin leaders were arrested in 2019. Other loss estimates from about 3 million investors start at $4B to $15B or even up to $37B.

Ruja’s genius was recognizing that established MLM leaders with huge downlines were the perfect vehicle to market her fake OneCoin. This was a plan that the FBI says Ruja privately referred to as “the bitch of Wall Street, meets MLM”. This was the secret of OneCoin’s success. It wasn’t just a fake cryptocurrency because there was no blockchain model. OneCoin was still interviewing blockchain experts for the position of Chief Technical Officer to create their blockchain in October 2016. It was just an old-fashioned pyramid scheme, with suspect plagiarized course packages as its “product” and a fake coin as its “currency” for earnings or rewards.

As part of its main business, OneCoin sold educational materials, such as courses on cryptocurrencies, trading and investing. The courses were part of a multi-level marketing (MLM) scheme, where course buyers were offered rewards for bringing in more participants. Buyers of the course materials in “packages” were to be rewarded with tokens that could be used to mine OneCoins.  

With heavy hitters (leaders) harnessing the power of MLM and the promise of fast and easy money, there is no surprise that OneCoin spread like wildfire.

Categories
goal setting weightloss

How to Achieve Your Weight Loss Goals More Easily

A good number of network marketing products revolve around the weight loss niche. Nothing can make you more effective in marketing weight loss products than “being a product of the product”.

When you are under 40, weight loss is usually not a problem. Unfortunately, a lot of network marketers are overweight despite the fact that they consume weight loss products. If you suffer from being overweight, chances are your network marketing business is also not in good shape.

Whether you have an incredible weight loss product or not, attaining a healthy weight makes a difference on how easily you can bring new members on your team. People can easily see the incongruence of where you are at versus the promised transformation of the weight loss product.

It’s not your fault. There are a lot of factors that make people overweight. Lucky for you, you may have access to a miracle weight loss product and you might just need a little breakthrough to attain your target weight.

You’ve made a healthy weight goal. You’re finally going to address that with a weigh loss habit. You know the one that you do daily! You’ve been talking about doing this for a long time now, and you feel good because now you have a deadline.

You’ve got this handled.

Or do you?

Whether you’re trying to break an old habit or instill a new one, the thought has always been that if you make a positive decision toward change, that’s already half the battle. But more often than not, these lofty goals fall by the wayside in fairly short order.

Why?

The problem with goal-setting is that we’re focusing on the wrong goal. You say you want to lose 25 pounds by swimsuit season or by the New Year. But without a plan in place to make that happen, nothing is going to happen, even if you have what seems like a reasonable timeline in place.

What you forgot was how to make a plan, a roadmap for getting there.

So what can you do?

  1. Break down the task into small goals. If you want to lose those 25 pounds, then how are you going to do it? Maybe you want to exercise more and watch your diet. So make a goal for each week instead. For this particular goal that might mean changing out a meal for a protein shake every day and going to the gym three times a week. Whatever your goal, figure out the steps you need to get there.
  2. Put those tasks on a schedule. Now that you know what the pieces are, how are you going to make them fall into place? So if you’re planning on going to the gym three times a week, then put that on your calendar. Or create a meal plan and post it somewhere you’re going to see it.
  3. Track your Progress. Change is slow, so having a visual cue will help you see that in fact, you are making positive strides toward your goal. Remember those sticker charts we had as children? They work on adults too. Or mark on your calendar so you can see at a glance when you’re making progress.
  4. Don’t worry about the end date. Maybe progress might not be as fast as you’d like. The fact that you’re making progress means you’re heading in the right direction. Keep going!
  5. Finally, make sure you consistently use your weight loss product consistently.

You can develop weight loss habits with time and effort. In this case though, it’s more about the journey more than the destination.

Make a solid plan and whatever your goal, you’ll get there!