Since you are reading this article (educating yourself on how to open, build, operate, and sustain an Empire), it is my hypothesis that you also want more than average. If more than average is truly what you desire, you must align yourself with thoughts, beliefs, and actions that are above average. However, what I typically see in business is, those who desire more mimic those who have less.
Let’s look at the simplicity of a business name. A business name typically has multiple words. For example, you will see names such as:
(*These names are made up for idea purposes only.)
- The Crafty Supply Company
- The Way You Look
- Smith Construction Company
- Maverick Marketing Company
- Healthy Living with Bonnie
Since it is an Empire you truly desire, then you must mimic Empires when choosing your business name. What do I mean by this? First, I encourage you to do a simple Google search of: business names. Then, click the Image tab. Once you do this, pay close attention to what you see. Every name that appears are those of Empires (companies who make millions and even billions of dollars). So, what are these names you will see? Let’s look.
Do you see the difference in the names? Businesses have multiple words in their names, while Empires have one word. Next, let’s consider what business logos look like compared to Empire logos. Working with entrepreneurs who desire to sustain an Empire, I often see their original logos to be splashy—full of color and pizzazz. However, let’s turn our attention to the logos of the Empires mentioned above, and some others.
If I was to show you a large golden letter M, whose logo is it? If I was to show you a red circle with a red dot in the middle, whose logo is it? How about a blue bird, a bunny head, a bell, an apple, or a swoosh symbol, whose logos are these? Are you beginning to get my point? Empires don’t have splashy logos; in fact, some of these logos don’t even make sense. Seriously, an apple logo for computers, how does that coincide? A blue bird for a social media site, does this make complete sense? Moreover, each of these simple logos can transform into multiple colors, and you will still know whose logo it is. For example, look at Apple. In fact, do a Google search for Apple Computer logos. You will find there is a rainbow apple, a metallic apple, a black apple, and an apple in every color. So, you see, these logos can transform in a variety of colors and designs, and you still know whose logo it is. Answer this: Can you do that with your logo?
Again, since an Empire is truly what you desire to open, build, operate, and sustain, then begin to mimic Empires, not businesses. If more money is what you desire to gain, then don’t allow a financial adviser who lives pay check to pay check, give you financial advice (and surely don’t allow them to control your money, by investing for you). As an Empire Creator, it is essential to your success to be mentored by other Empires, not businesses. Now, I understand, we want to support our friends and local small businesses, and so we often buy from them (which is good), but we also mimic them (which is not good.)
There is a time and a place for everything, and rules are meant to be twisted, turned, and broken. Just as that is true, too often people twist, turn, and break rules at the wrong time. Let’s look at someone who is just starting out with building their Empire. They spend hours thinking, planning, and developing. They leave their nine-to-five job, and begin working twelve to fourteen-hour days. Their excitement begins to vanish due to frustrations—lack of time, lack of money, and lack of resources. This is because all they have truly done is bought themselves a job (Just Over Broke), and call it a business.
Just a moment ago, I stated, there is a time and a place for everything. Empires have employees, so if you are going to mimic Empires, shouldn’t you also have employees? Yes, but, not yet. Starting out, you more than likely cannot afford to staff employees. It is for this reason you may find yourself struggling with working long frustrating hours, all the while wondering if your dreams are going to come to fruition. So, what are you to do? Seems like a catch-22 when you can’t hire employees, but you are to mimic an Empire owner and works less hours. Your answer to this seemingly oxymoron lies within the glory of subcontractors.
For example, I own a New York publishing company (Otter Publishing New York, OtterPubNY.com). When you go to my company’s website, you will see the Otter Publishing team. This team is made up of subcontractors. Subcontractors have their own company, and are hired by other companies to do specific work to help complete a specific project or projects. Using subcontractors allows for you to charge your client more than what the subcontractor charges, so you do little to no work, yet get paid. In essence, you and your company, are what we call The Middle Man. People hire you to get the results they want, because you have the resources—the team—in place to perform a job well-done. Think about it, do you believe the founders of Apple (Steve Jobs, Steve Wozniak, and Ronald Wayne), work hours upon hours each day, or do you believe they have put together a team to sustain their Empire, while they vacation and enjoy every day life? I assure you, while they do work some, they still enjoy their lives more than the average business owner.
Tribute to Steve Jobs 1955-2011: You have been an inspiration to millions of people from around the world. We are forever grateful that you shared your intelligence with all of us. Rest in peace.
Speaking of enjoying your everyday life, there are different levels of enjoyment. One may enjoy going to work from nine-to-five, coming home, running kids to extracurricular activities, getting homework done, cooking, cleaning, laundry, showers, and hugs and kisses at bedtime. While others enjoy getting up without the sounds of an alarm clock, going to the gym, sipping coffee on the sun porch while reading a good novel, adventuring out to the local day spa, shopping, having lunch with friends and family, and choosing the rest of their day accordingly. The question is: What does enjoying every day life look like to you?
Having a business allows you to do option #1…the rat race. Owning an Empire allows you to do option #2…choosing your day from beginning to end. As-long-as you are trading time for dollars you are going to be stuck with the rat race. When you stop trading time for dollars is when you begin to choose your day. You wake up each day with money being deposited into your account from the work you did one time in the past. This is what we call residual income. Every company has residual income opportunities; however, the problem is, many people don’t look for it. Through not seeing where your residual income is in your company, you are leaving an obscene amount of money on the table. The money you are leaving on the table is money that could allow you to choose your everyday life, impact the lives of millions, and be a true blessing to those who God calls you to bless financially.
As an Empire Creator, you must find your residual income and pursue bringing it to fruition. I encourage you to take some time right now, set everything else aside, and focus on where your residual lies within your company. For me, I have found my residual through doing what I am already doing—running a Facebook page and teaching. Think about it. As a business owner you more than likely have a public business page on Facebook. Yes? Operating this page is work, as it is something you must do to bring awareness to your brand. Should you be getting paid for the work you do? Absolutely! In time, this can happen for you as you structure your Empire as needed; but, for now, let’s just be sure to fully understand the Empire concept.
At one time, in the 1800’s the Industrial Revolution began, followed by the Technological Revolution, and then followed by the Digital Revolution. Today, if you look all around you, you will notice you are sitting in the Information Revolution. Less people believe in traditional education, such as college, and more people seek to gain knowledge and wisdom through one another. The coaching and consulting businesses are on the rise, along with public speaking and writing. (Writing, whether it be blogs or books.) Even more, podcast radio is another huge source for knowledge.
Knowing that people are seeking knowledge, and seeking it from each other, this is your first clue to where your residual lies. No matter your line of work, you can be teaching your knowledge to others who are looking to rise to their next level through learning from coaches and consultants.
For example, a person who sells insurance, could stop selling for just enough time to teach about insurance. A great title that comes to my mind is: How Not to Get Screwed Over When Purchasing Insurance. Think about it. If someone taught me how not to get screwed over when purchasing insurance, they would have my trust more than the person just trying to sell me insurance. Once I trust someone, I like them, and then I buy from them.
Another great example is, someone who is in real estate. Teach me and others how not to get screwed over when purchasing a home, and we will buy our home through you. How about a nurse? Teach me some basic at home care for myself and my children, and I will buy those essential oils you sell on the side. Which brings me to network marketing.
Network marketing is on the rise. More, and more people are seeing residuals in companies who already established a platform for it. For example, Mary Kay, Essential Oils, Younique, Rodan and Fields, and Isogenix. There are two ways to look at this. First, if people who involve themselves with these companies would teach about health and beauty, the products would naturally sell themselves. However, they tend to push product instead. My counsel is to stop pushing product and instead teach. Now I told you there are two ways of looking at this. The second way to look at it is harsh, yet profound. It is a view point that someone who is in deep with network marketing is not going to want to hear. However, it is their clearest answer to success and residuals. Moreover, all I must do is ask one simple question to make this point. The question is: Why are you building someone else’s Empire, instead of your own?
I understand, these companies already have a system in place, so it seems Quick and Easy. Well, remember what I told you about Quick and Easy? If not, go back and read the last chapter. There are two types of businesses, and only one type of Empire. The two types of businesses are: Me Too, and Me Better. The one and only type of Empire is: Me Only. When you are using someone else’s platform to build your Empire, you fall into the Me Too, or the Me Better category. In other words: Me Too is you doing what others are also doing; and Me Better is you doing what others are doing, but you do it better than others. While the Me Only, is you are the only one who offers this product and service. You being the only one is what will build your Empire. Pay attention to that last sentence where I said, your Empire. With network marketing, you are building the owner of the company’s Empire, along with your upline.
Now, answer this: Do you want to own the company and build your own Empire, or do you want to spin your wheels building someone else’s? Understand, you can still have the passion for the company you are in, you can still sell their products, and you can still build your own Empire—your own personal brand. Truth is, your Empire intertwines with the network marketing company’s Empire. Your answer is simple. If you are selling make-up, teach about skin care to build your Empire. Then the product you sell, will naturally sell itself, allowing you to build two Empires at once—yours and theirs. If you are selling protein shakes, teach about nutrition. When you do this, you transform your business into an Empire, and hit the mark of Me Only. You become the only one with your product wrapped neatly with your knowledge.
So, how do you get paid residuals for teaching? Create an education system one time and sell it over-and-over again. I will dive deeper into teaching you how to structure your system in the another blog article. For now, sit back and reflect on the structure you have in place for your Empire. How long is your business name? How splashy is your logo? Are you working too many frustrating hours? Did you just buy yourself a job? Are you choosing your life? Are you leaving money on the table? Are you capitalizing on the Information Revolution? If your answers to these questions are not pleasing to your ears, then take a step back, readjust, and move forward in the building of your Empire—not a business. Understand, sometimes in business, and life, you must take a step backwards to move forward into success.