Many people have the perception that you can only achieve scalability when you are singer, movie star, sports star or a famous celebrity. Absolutely not!
You can achieve massive magnifi cation or multiplication in any profession, whether you are a chef, garbage collector, lawyer, doctor, teacher or software programmer.
SECRETS OF SELF-MADE MILLIONAIRES CHAPTER 8 HOW TO MAGNIFY AND MULTIPLY YOUR INCOME IN ANY CAREER
When you fully utilize the power of (value x time x scalability), your wealth will grow exponentially. Let me give you examples of people who have created massive wealth as a result of understanding the power of this formula.
a. How a Chef Made Millions Starting at the Age of 65 – and he’d started broke too!
I am sure you have all heard of Colonel Harland Sanders. He is the portly Southern American ‘gentleman’ the life-size statue fronting all Kentucky Fried Chicken outlets to greet patrons. Of course Colonel Sanders is a multi-millionaire many times over but do you know that before KFC, Colonel Sanders had found himself at 65 years of age totally broke with nothing but a social security check for $105.
But in less than ten years, at age 73, he had become a self-made multi-millionaire and a household name! How did he achieve this? By being one of the fi rst people in the world to understand the power of multiplication!
Colonel Sander’s tremendous value came from his ability to innovate great tasting chicken that people love to eat. How? By developing his secret blend of eleven herbs and spices and insisting that all his chicken be pressure cooked for hours, something that most other chefs were not willing to do. In fact, Sanders was so insistent on the superiority of his recipe that he refused to sacrifi ce taste by cooking his chicken quicker. Remember, when you do something out of passion (Millionaire Habit 4), do more than expected (Millionaire Habit 1) and think of the value you give to others, money will come naturally.
However, initially Colonel Sanders, though he worked day and night selling his great tasting chicken from his restaurant in Corby, Kentucky, never became wealthy. Why? He had the power of (value x time), but he lacked the scalability factor.
It was in fact a twist of fate that got the Colonel thinking of how he could massively scale his value. One fateful day, the government built a highway that diverted all the hungry motorists away from his business. As a result, Sanders was forced to close the business down and that’s how he found himself broke at age 65. Instead
of giving up, he came up with the fantastic idea of approaching restaurant owners all over the country to offer them his secret recipe for their use. In return, he would get a percentage of the profi ts for every chicken they sold. Within a few years, restaurants all over the country were selling thousands of chicken everyday, using his recipe! Through his franchising concept, he received thousands of dollars in checks every month. He multiplied his value a millionth fold as a result and at age 73 he could sell his business for $2 million.
Remember this was in 1963 and that was a huge sum of money (equivalent to over $10 million today).
b. How a Feng Shui Lady ‘Master’
Made Millions Starting Out at Age 45
Feng Shui is the Chinese art of controlling a person’s energy fl ows through the positioning of objects in a room to optimize health, wellbeing and luck.
In Asia, most Feng Shui masters consult for individuals and companies and charge either by the hour or by the project. Some of the best and most skillful masters charge up to $2,000 per hour in consultation fees. Even then, there is a limit to how much they can earn a month, given that there is a limit to the number of hours they can spend on consultation.
However, Lillian Too, one of the world’s most famous Feng Shui masters turns over millions of dollars a year by using the power of (value x time x scalability). Her value comes from being one of the very few to translate this ancient Chinese art into English and bringing it to the west. She also created massive value by being one of the fi rst to show how Feng Shui can be applied to not just homes or offi ces but to a person’s wealth, career, health and relationships.
Again, what has made her truly wealthy has been her ability to scale her value.
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online. He will then make his diagnosis and deliver medicine to his patients anywhere in the world. As a result, he is able to massively magnify his value and his income. In addition, he sells a whole range of medical devices, information and medicines that allow him to multiply his value and his income even further.
d. How a Teacher/Counselor Makes Over
$500,000 a Day
Can a teacher/counselor make $500,000 a day... or more? Maybe not an ordinary teacher or counselor but a personal development extraordinary like Anthony Robbins has certainly pulled it off.
How did Tony manage to make his fi rst million by the age of 24 when he had started out in life as a lowly janitor at age 14!
Again, talented Tony, recognized today as the world’s most famous motivational speaker/teacher/counselor, understood the power of value and scalability. (He had counseled former President Clinton during Clinton’s darkest days when the Monica Lewinsky scandal threatened Clinton’s presidency).
As a peak performance speaker, Tony creates tremendous value by his ability to deliver his messages with tremendous amounts of humor, passion and energy. He has also got the ability to take very complicated concepts like NLP (Neuro-linguistic programming) and show ordinary folks how to use it to enhance their lives. But his true wealth has come from his ability to magnify and multiply his value. Every time Tony delivers his seminars, there are no less than 5000 in the audience. With each paying a low average of $2000, that’s $10 million for four days work... not bad! Then, through his numerous books, video and audio programs, each of which sells hundreds of thousands of copies all over the world, his value and wealth are further multiplied!
e. Why Bill Gates is the Richest Man in the World
Now that you understand the power of scalability, isn’t it obvious why Bill Gates is offi cially the richest man in the world? It is because he has managed to multiply his value to such an extent that it has touched the life of almost every literate human being on the planet. Nearly everyone on Planet Earth who knows how to use a computer has benefi ted from a Microsoft product.
Instead of just giving one-on-one consultations, like most Feng Shui masters do, Lillian delivers hundreds of seminars every year to thousands of people all over the world. Once a year, she holds a mega event called Feng Shui Extravaganza where she tells people how to maximize their luck in the coming year. This seminar is packed with over 2,500 people each time. At an average price of
$93 a ticket, she earns over $232,500 a day! See how she has magnifi ed her value many times over?
In addition, Lillian has written over eighty books on Feng Shui, and these have been translated into over thirty languages, selling all over the world. Now, assuming a very conservative estimate of 10,000 copies sold per book, that’s 800,000 copies being sold a year.
If she earns a conservative royalty of $2 a book, that’s $1.6 million a year, and this fi gure recurs every year as long as the books are selling.
Her value, just for her books alone, is being multiplied many fold.
And that’s not all.
Lillian has built an entire chain of shops called ‘House of Feng Shui’ and has created an online ‘Feng Shui Megamall’
(www.lillian-too.com) that sells all kinds of amulets, crystals, accessories, books and ornaments for people who want to enhance their energy fl ows. From the millions generated from these businesses that she created, Lillian enjoys multiple streams of passive income.
c. How A Doctor Has Over 100,000 Patients from 112 Countries Under His Care
Now, most people would think that professions like physician would be somewhat hard to scale? Not so. While most doctors create tremendously high value but can only treat a maximum number of patients a day and sell a limited quantity of medication, a doctor in India and found a way to massively scale his medical value.
Dr. Rajesh Shah of Mumbai India has an online medical practice (www.e-homoeopathy.com) where he is able to consult and treat hundreds of thousand of patients a year from over 112 countries.
His high value comes from the fact that he practices homoeopathic medicine, a holistic form of medicine that treats diseases from a revolutionary totalistic approach. Using the power of the internet, Dr Shah is able to provide his services to the entire world. Basically, people email him their symptoms and pay through their credit cards
SECRETS OF SELF-MADE MILLIONAIRES CHAPTER 8 HOW TO MAGNIFY AND MULTIPLY YOUR INCOME IN ANY CAREER
You defi nitely have some kind of intellectual property! Why?
This is because unless you have intellectual property, you wouldn’t be able to create any kind of value in the fi rst place. For example, if you are a lawyer, your intellectual property is the legal know-how you have. If you are a photographer, your intellectual property is the knowledge of photography you have and the pictures you take. If you are a chef, the intellectual property you have are your recipes and your method of preparation. If you are a manager, your intellectual property is your ability to manage people and projects.
Here are some examples of how people from different professions multiply their value through earning licensing fees and royalties from their intellectual property.
a. Inventors get streams of income when their inventions are applied commercially
Have you ever seen a battery tester that comes with a pack of Duracell batteries? Well, this idea was invented by a man named Bob Parker (who also invented the famous ‘mood rings’). Like most people, Parker found it frustrating when he did not know if old batteries he had lying around the house had any more energy in them. Instead of complaining which is what most people do, he thought that it would be useful if he could come up with a low cost battery tester that could be attached to every pack of batteries sold.
He approached many of the big battery companies to sell his idea, but all of them turned him down. Finally, Duracell agreed to use his invention and in return, pay him a few cents for every battery pack that they sold.
As a result of this unique tester, Duracell battery sales increased signifi cantly and this inventor receives hundreds of thousands of dollars worth of royalty fees every year.
b. Celebrities earn royalties for every endorsed product that is sold (e.g. toys, apparel, sports equipment, food etc…)
Instead of getting paid a fi xed fee for endorsing products, smart celebrities (like actors and sports stars) will ask for a percentage from How did Gates achieve this? Bill Gate’s value comes from his
ability to identify and innovate Information Technology solutions for every computer user. It was this ability that got him to buy the DOS software and later innovate the Windows operating system. But his true brilliance comes from his ability to know the power of multiplication. He made a deal with IBM and IBM clone manufacturers that every computer they sell would carry MS-DOS and later Windows as their operating system. By licensing his software to computer manufacturers, he would be assured that for every single computer that is sold, he would earn a fee. As millions of computers are sold all over the world every year, he would get millions upon millions of dollars of ‘income fees’. And mind you, this is for every year and for the rest of his life!