The Newsletter of the www.TrulyRichClub.

com MARCH Volume 32, Number 1

Three Multipliers of Income

My friend Larry is a speaker for corporate seminars.

Many years ago, Larry earned P5,000 for every seminar
he gave.
Over time, Larry became more well known. His network
expanded and his skills improved. Today, he earns P25,000 per
seminar.
Pretty good, right?
In a month, he can give eight seminars.
Thats P200,000 a month.
Minus taxes of 30 percent, thats P140,000.
Minus the salary of his full-time secretary and part-time
accountant, plus other office expenses, his take home pay is
P110,000.
Still very nice.
But last month, Larry visited me and asked me how he
can earn more.
How much more? I asked my friend.
I want to earn P500,000 a month, he said.
Thats a pretty big leap, I chuckled.
Ive got big dreams, he said, because Ive been
listening to your talks. I really want to give big to God. Im
giving now to your ministry but I want to give even more.

Thanks Larry. Im sure youve thought of some ways you can earn more, I said. Can you tell me your
ideas?
Well, I could increase the seminars I give in a month, he said.
How many more can you give?
From eight a month, perhaps I could add four more. Twelve is my maximum.
Will you still be alive by the end of the month? I frowned.
Barely, he laughed.
And will your kids still see you?
With a sad look on his face, he answered, Some of my seminars are held in Tagaytay. Or Subic. No, I
wont be able see them often.
Any other ways of earning more?
Well, I could charge more he said with hesitation in his voice.
Yes, thats possible. How much more? I asked.
Perhaps 35,000 per seminar. But not more than that. My competitors charge only P25,000 per seminar.
So I need to convince the companies I serve that Im worth the higher price.

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So how much will you earn if you raised your price?

Let me see if I still gave eight seminars, Ill earn P280,000.
Your take home? I asked.
About P160,000.
Still not P500,000
Nope, he said.
No other ideas Larry?
He shook his head. Im stumped, Bo. Thats why I came to you.
Unfortunately, the two solutions you thought ofincreasing your number of seminars or increasing
your fee per seminaris still exchanging your time for money. That path can increase your income but only
incrementally.
And clearly, I dont want incremental growth.
You want a quantum leap in your income.
Exactly Bo. What should I do?
Thats when I shared to Larry the three multipliers of time and income.

How to Multiply Your Time and Income

If you keep exchanging your time with money, it will always have a limit. Because time is constant for
every human being. All of us have only 24 hours a day and seven days a week. Ive never met anyone who has 25
hours a day and eight days a week. In order to earn massively more, you need to multiply your time. To do that,
you need to use the three multipliers of time and income.
What are they? he asked.
Manpower, Media, and Money.

1. Manpower

Can you train other seminar speakers?

He nodded. Ive got two guys that Im training right now. In two or three months, Im positive theyll be
able to give my seminars.

Great. Manpower is the first multiplier. If you train 10 speakers and sell their seminars, you can earn 30
percent from every seminar they give. Can you see yourself doing that?

I think I can, he said.

Ultimately, you can even hire another person to sell the seminars for you. Just give him a share of the
commission. Perhaps 5 percent for every seminar he books for
your team of speakers.

Hmm, I didnt think of that before.

So lets do the numbers. Lets lower the figures since
your speakers are just starting out. If they get paid P20,000 per
seminar, and each can only give four seminars a month, thats
P80,000. If you earn 30 percent of that, thats P24,000. If you
have 10 speakers, thats P240,000 a month for you.

Wow! But can I really manage 10 speakers?

Thats a question only you can answer.

Like what will prevent these guys from leaving me and
doing it on their own?

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When you use the Multiplier of Manpower, you need to grow in your leadership and relationship skills.
Thats another topic we can discuss for many days. I have two dentist friends. One is happy being a dentist in his
own clinic. My other friend is a dentist who runs six dental clinics with 12 dentists working with him. Guess who
earns more?

Larry took down copious notes. He asked, Okay, whats the second multiplier?

2. Media



you.

Media. Can you put your seminar in book form?

Yikes, Im not a good writer. Just a speaker, Larry said.
Then record your seminar and ask an editor to write it down for

I can do that?
Sure.
But that means getting a publisher. They tell me thatll be very
hard. Almost impossible.
Dont get a publisher. In todays Internet-connected world, new
authors dont need publishers anymore.
They dont?
Authors self-publish.
What do you mean? he asked.
Computers have made it very easy to print a book. Just hire the right peoplea good editor, a good
proofreader, and a good layout artist. And then shop for a printing press that can publish your book.
Ill earn more that way? he asked.
Publishers give authors an authors royalty of 7 percent of the price of a book. If your book sells for P300,
theyll give you P21 per copy. If you sell 300 copies every monthand thats a big IFyoull earn something
like P6000 a month.
Not very impressive.
Thats why I tell all first-time authors to try self-publishing. Because after subtracting your printing costs
and sales commission to bookstores, you get 30 percent of your cover price. If your book sells for P300, you get
P90. If you sell 300 copies every month, you get P27,000.
That sounds better. But I dont know anything about publishing a book. Or selling it in bookstores!
The first thing you do is create a following through the web. Use Facebook! Use YouTube. Use Twitter.
Give parts of your work away for free. Create a relationship with your audience. And when people know you
and love you, sell a hard copy through the web, sell through bookstores, and sell an ebook. Later on, you can sell
books of other authors related to your topic.
I can do all that? he asked. Larry had this overwhelmed look on his face.
I dont know, I answered. Only you can answer that question. But if you have the passion and
perseverance, you can learn anything.
Youre absolutely right, Bo. Thats what I teach in my seminars!
We both laughed.
The book is just the start, I said. Later on, you wont even think of the book as your source of income.
Itll just be your marketing tool. You can create a video seminar and distribute that through the web. You can even
sell it to the companies that have already taken your seminaras a way of reviewing the material you gave to them.
My gosh. How much will I earn if I use media?
The amount depends on you. Another P100,000? P200,000? This morning, my friend told me he earned
P1 million last month using the Internet as his media.
Unbelievable. Okay, whats the last multiplier?
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3. Money

them?

After manpower and media, the third multiplier is money.

What do you mean?
Tell me. Where do you give your seminars?
Plenty of companies. Jollibee. Ayala...
I interrupted him. Lets take those two companies. Your seminars are improving

Absolutely! he pumped his fist to the air.

Then buy those companies.
Huh? Larry asked.

Buy Jollibee and Ayala shares. You become part owner of those giant companies.
Your money is working for you. So youre not just a speaker of these companies, youre also
a part owner of these companies.

That sounds really nice.

Of course, you can also start other businesses with your money, hire people to run it for you, and earn a
bundle. But that will require a lot of time, a lot of trial and error, and going out of your core gift. So my suggestion
is just invest in the stock market and let others manage your companies.

Wow.

Use all three multipliers. Manpower. Media. Money. When youre earning P500,000 per month, tell me.

He smiled from ear to ear. Bo, youll be the first to hear about it!

Tell Me Your Success Stories!

Friend, so many TrulyRichClub members are telling me how theyve been financially blessed since they
joined the Club. I meet them at the Feast (our weekly prayer gathering) and in my seminars.
I hope to hear about your success very soon!
Keep learning. Keep growing. Keep giving.

May your dreams come true,

Bo Sanchez

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Volume 32 Number 1 MARCH 2011

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