Industrial Age Philosophy: I heard this mantra all through my schooling; Get a good education, so you can get a good job. Bill Gates, Larry Ellison, and Thomas Edison, among others, never graduated from college. Peter Jennings and John D. Rockefeller never finished high school. I am not saying, don’t finish high school or go to college. I am pointing out that traditional education is not the only ingredient for a successful business.

The old school paradigm: Trade your time for a paycheck. Wealthy people are not interested in a paycheck, they get excited about profits, not wages. They work on their business rather than in their business. Because entrepreneurs love what they do, they also work hard on themselves. More on that later. Business owners know that expanding their network creates leverage, perpetual growth and compounding profits. I believe the sum of your Net Worth is a result of your Network. That’s worth repeating. The sum of your Net Worth is the result of your Network.

Life-Time Residual Profits: The Network you create is based on hundreds of relationships that you develop over a life-time, both business and personal. From a business perspective, your network, if cultivated can create Net Profits. I’ll summarize what J. Paul Getty said, I would rather have the efforts of 100 men that 100% my own. Smart business owners depend on ad-visors that are experts in their field. They create multiple networks that support their business objectives. I love the Verizon commercials where the guy brings his network –100s of devoted people making sure his cell phone is working.

Good Friends are very Profitable: Your network is important! In business, Relationships = Networks = Profits. Perpetual profits create residual income and eventually freedom! My wife and I have been experiencing freedom for over fifteen years and you can too. How did we do it? We made lots of friends and helped them achieve their dreams.

Residual Royalties, the Musician’s Friend: I was in Hawaii in a few weeks ago and had an opportunity to have dinner with Wayne, a very successful song writer/music producer. Since I am a creative person and a musician, I was fascinated with his story and how as a teenager he went from sweeping the floors to producing hit songs for artists like Beyonce. I loved talking about all the technical things he does in the studio and got some great ideas for my own studio and the musicians I collaborate with. I was like a kid in a candy store, listening to this genuinely successful man share his dreams and aspirations. Our time together reaffirmed to me that we become successful when we pursue what we love to do. Wayne made a lot of friends in the business, won their trust, and provided incredible value and service. Now he experiences the benefits of the fruits of his labor. Why? Because he loves what he does and he serves his clients. In upcoming articles we will explore some wealth creating techniques that will equip you to develop multiple streams of residual profits, month after month. Good song writers have a driving passion to create music because they love what they do.

What do you love to do? What if you could share products, services and ideas that you were absolutely passionate about? What if, like a song writer, you loved working on your business plan every day, sharing your ideas, products, and services with eager fans? Soon, you too would be leveraging the power of multiplication and begin to create and experience the fruit of an expanding network of perpetual profits.