The $1,000 question

Lottery 50-75%

Slot machine 95%

How the fear of loss can create a full time income in network marketing with Andrew King episode 

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SPEAKER_01 0:31

Alright, today in the zone, we are talking about the $1,000 question. This content came about when I was grocery shopping right before the holidays. And as I was checking out on the way to the parking lot, there's a lot of different machines. There's the coin machine where you can put all your loose coins in and they pay you in uh gift cards or you take the receipt. I believe they they give you cash, however that works. And one of the machines that I saw was actually a lottery machine, which I found really interesting because I believe you have to be, I'd imagine at least 18 to play the lottery, but hey, they'll take the money, even if it's not checked by ID. But either way, so I saw the lottery machine, and I don't play the lottery, and I don't shame people for playing the lottery, it's just not my thing. And I was curious as far as like, what does the average person spend, at least in the US, what does the average person spend in lottery tickets? And I wish I could find a straight answer because it was all over the place. Some people said it was $300 to $1,000 per capita. That means per person that lives in that area, so it's not even broken down by adults. But then again, they don't really track it, and uh it was all over the place. So I started asking some people, kind of sent some text messages back, and it looks like for the people that play, because there's only a percentage of people that play, they said it's around 50%. Again, there's really no way to track it. But if 50% of adults play, they said around a thousand dollars per year people spend on lottery tickets. That's a very conservative number. Most people that tell me they play the lottery, they spend way more than a thousand. Some people spend less, but let's just call it an even thousand. The math works out pretty good, and it's not a hype number. So a thousand dollars per year on average, people that play the lottery, that's what they spend, that's what they risk. And it's definitely a risk because majority of the time they lose money. And I understand the lottery because it's entertainment, it's exciting, there's a small, extremely small percentage chance that something big will happen. But the math works out and the way lotteries work is that the lottery commissions or the state or the federal, it kind of depends on the different things going on, but they only pay out 50 to 75 percent. So if they take in a billion dollars, they're going to pay out somewhere between 500 to 750 million. So they keep a percentage and they pay out 50 to 75 percent. And that's fair. They have to make a profit, it goes to sometimes good things, don't really know. It's not my thing, but I get why people play because there's a small, tiny percentage chance that something big could happen. They know that on average they're going to lose a big percentage of their money. Sometimes they hit for a couple of numbers, and I believe you get some money back if you hit three or more. I'm not really sure how it works, but I know that sometimes you can get small winning tickets. But on average, if you play for a long time, you're gonna lose about 50% of your money. Imagine going into a bank and you ask what their savings interest is, and they say, well, our savings interest is minus 50%. So if you give us $1,000 at the end of the year, we'll give you $500 back. That's crazy. Nobody would do that, but if there's a small percentage chance of something big that can happen, I get it. They say you're 30 times more likely to get struck by lightning. So my thing is after you get struck by lightning 29 times, you know what? Roll the dice, put everything into a lottery ticket because you are an anomaly. So the question is, is a thousand dollars on lottery tickets per year a good investment? Most of the time, no. But again, I get it. Some people, it's entertainment, small percentage of something big that can happen. And just last week, I booked another speaking engagement in Las Vegas. Now, for those of you that know, Las Vegas is a big gambling mecca. They built an entire city, entire county, almost an entire state on some sort of gambling, or what I like to call people that are bad at math, but I get it. There's a small percentage chance of something big that can happen. Most of the time it's entertainment, most of the time you're going to lose a big percentage. You take uh slot machines, which every single person that I believe you have to be 21 to gamble, but every single person, it's pretty easy. There's really not a lot of skill involved in a slot machine. They say, well, the average slot machine pays out 95%. So imagine going to the bank, asking what their interest rate is, and they say, Well, our savings interest rate, our high yield savings interest rate is minus 5%. You give us $1,000 at the end of the year, we'll give you $950 in your account. That would be your bank balance. That nobody would take that. But again, I get it. It's exciting, it's fun, it's gamified, but there's a small percentage chance of something big that can happen. You could win one of those progressive jackpots, you can win millions of dollars, but most of the time you lose money. But what if we spent that $1,000 per year that most people spend on lottery tickets? Some people spend it on gambling. There's even online gambling, apparently, in some states. And you spent that $1,000 per year in your business. Chances are there's going to be small positive changes for you to get that $1,000 back. But the most exciting part is something big could happen by learning and investing in yourself. So you can call it $3 per day, you can call it $84 per month, you can call it $1,000 a year. The question is, are you willing to invest that into your business? And that investment, not sure if I could use that word, but that investment in training could be in the form of, you know, books, audios, classes, uh company events, a combination of really what works best for you. So it's not a monetary investment, but we just use the term investing it in yourself, investing it in your own business. You have to figure out what works best for you. But worst case scenario, there is absolutely no change. The odds of having zero change in your life means that you bought a book and you didn't read it, or you bought a book and you didn't implement it, or you went to an event and didn't take any of the training and implemented the steps that you needed to do. Really, the worst case is you become a better person because you understand people more, or you have adjusted your mindset more. So even if you didn't get anything back from your business, chances are you're a better person. But most of the time, if you implement the training, whether it's a company event or whether it's one of our trainings, you'll see some results. Most of the time you'll see a small change and or a big change, but there's a small percentage chance of something really big. In the last 30 years, I've gotten customers, I've gotten leaders, but one thing that really stood out is I'm being paid from somebody I sponsored 30 years ago. I did the work once, and 30 years later, I'm still getting paid from this leader. And that's that's done with uh company buyouts and company changes too. So it's not like there wasn't any friction, but when you build a team and you build it leading with their agenda and their values, you can get paid a lot of money for a long period of time. And if this seems incredible and it seems easy to do, the big issue that I've seen in 30 years is most people forget or they continue to learn every single month. Yes, there's gonna be up months and down months, we're gonna have distractions in our life, but most people, including myself, at one time or the other, have lacked some sort of consistency issue, some sort of consistency block. Sometime when we're not consistent, however you want to put it. And what I found out is there was a big percentage of people that can be consistent the first week, but it's really a small percentage of people that can be consistent the second week. So first week, a lot of activity, second week, it starts dwindling away. Why? Because life happens, and sometimes the reason we don't take our business as serious is because, and I I was talking to Andrew King on a previous podcast episode, I'll link that episode here as well, is because the investment or the payment, I should say, to get into network marketing is relatively small compared to most businesses. I mean, it's relatively small between on average $100 to $1,000 to get involved in a business, a network marketing business. And most businesses are what? Thousands of dollars, hundreds of thousands of dollars, second mortgages on their house, small business loans, like massive amount of debt, massive amount of risk. So I get it. If you built a if you purchased a or got a loan for a big business that cost hundreds of thousands of dollars, of course, you're gonna show up every single day. You're going to maximize every single day. You get into network marketing, it's not that big of a risk. So some people don't take it as serious. So my viewpoint most of the time is let me treat my business as a hundred thousand dollar business, let me treat my business as a like I spent a million dollars invested in my business. And we change the mindset of I'm going to treat this business like I need to pay the bank back. But at the same time, network marketing is kind of an unlimited potential business versus brick and mortar businesses, it gets pretty exciting. So again, the big question is okay, if I had to spend around $3 a day or $84 per month or $1,000 per year, what do I spend it on? It really depends on what your biggest need is. If you need belief about the industry, about the company, attend those company events. Most of the time, those online events are inexpensive, if not free. Depends on if it's a small event, a team event, a regional event. There's obviously in-person events, big company, national events, international events. There's everything in between. Pick something that works best for you. If you're looking for the skills or additional skills on how to build a business, we have the core skills audio pack. Yes, we have it in paperback and ebook. But if you want to just do it really quick, we have the core skills audio pack for $29.95. That is one option. I'll make sure to put a link in the description. We have a lot of different training, there's a lot of books out there in the marketplace. But I always recommend whether you're buying books or audios from anybody, make sure to implement it right away. Make sure to open up the book right away. Make sure to hit play on the audios right away. Because once you do one page or one minute of audios, you're going to be more motivated to finish that chapter. Another alternative to the core skills audios or books is the quick start guide for network marketing. So that will cover most of the core skills and get you started right away. And if you are in a nutrition business, we have the how to build your nutrition business fast. Now these books are extremely inexpensive. And of course, the how to build your utilities business fast, which is for people that are in utilities, as in electricity, gas, uh, even pretty much a lot of the services as well. So if you just want a one book fits all, I'll make sure to put a link there as well. And if you're got the core skills down, you want we got leadership packs, mindset packs, we have the the master class plus program, we have all sorts of things, and that's just what we have to offer. There's so much good stuff out there, but make sure to stay plugged in with your upline, make sure to stay plugged in with at least your company if your upline is MIA, just to continue to build your belief. And I only use the thousand dollars per year as a round number example. I can guarantee you you'll probably get more out of a thousand dollars into your business than on average a thousand dollars in lottery tickets, but you need to do what's best for you. And again, there's nothing wrong with having a little bit of entertainment as well. Do both. Invest in your business and be entertained with the small percentage chance of winning the lottery. There's nothing wrong with mindless entertainment. In fact, I think all entertainment is mindless, and that's what makes entertainment exciting. Trust me, I've spent so much money on different things that people would think I'm crazy for. And yes, make sure to have fun, enjoy life, but continue to spend and invest into your business, whether it's a time investment, whether it's a little bit of a monetary investment, just make sure to take those skills and put them into action. Well, that's all I have for you today. If you found value in this episode, please share it with them. But more importantly, looking forward to sharing another episode with another successful networker next week.

SPEAKER_00 15:09

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