Why Business Networking & Residual Income is Essential for Your Retirement

We are in a much different world today compared to your grandparents or even your parents world was like prior to 50 years ago. 

Back then, one parent worked full-time at one job or ran one business and was the primary breadwinner while the other parent stayed at home and took care of the household.   The family can easily survive on one income and the parents were able to retire knowing their company pension & Social Security was all they need to have a nice retirement of golfing and sunshine.  There was really no such thing as business networking in the format it is in today and if you had a side hustle, you may been classified as a greasy old car salesman and did not fit into the norm.   Honestly, it was a good life since it seemed there was less stress and family values were a priority.

Today, there is a lot of more pressure and the norm is change, whether it is your job, business, financial situation.   Less than 5% of professionals stay at a job more than 10 years and 60% of Americans live check-to-check and are not saving for retirement.  Most professionals are in a state where they need to be proactive about their career and their success and not rely on their company to be loyal to them and build their career path.  Everyone today needs to be the CEO of their own domain and those that don't, are left behind and fall into that "check-to-check" and "no retirement" demographic.

The good news with today's world is that there are more options than ever to build your own domain.    The options that stand out today are Business Networking and Residual Income.  There are more opportunities than ever to build your own legacy and retirement success using these tools.   You can networking offline at events, especially in big cities and online via social media platforms like LinkedIN.  In terms of Residual Income, whether you earn residual income via real estate, network marketing or online learning, the sky is the limit to build a financial component that makes you money while you sleep.   Residual Income used to be a dirty word back in the days of the one income family, but now it should be part of every professionals financial plan to stability.

I wanted to share my story.  Prior to 2007, I had one source of income from one job and once the work day was over, I did the typical activities like watching TV, going to the gym or hanging with friends.  In 2007, I went to my first networking event and then in 2008, I was introduced to residual income.  It was a whole new world, but slowly but surely it caught on, and now today in 2019, I run a successful business networking group and currently have multiple sources of income (most residually) with the goal to retire from the typical corporate job in a few years, much earlier than most of my colleagues I graduated with.

The model I have built for me and my family in order to have an amazing and financially free retirement is my business networking and side hustles I am doing alongside my primary job.  Now don't get me wrong, I still want to have a "working retirement" focusing on my passion of helping others whether is with their health, their business or their financial situation.  However, I feel like it is absolutely essential to build a residual income today.  Social Security is good enough to buy your monthly groceries.  Nobody has a pension anymore, and you how your retirement portfolio is doing.   The stock market today is absolute drama and most companies don't even match your 401k contributions anymore.  You are essential on your own to make sure you are not a Walmart greeter just to make ends meet at the ripe old age of 82. 

So where does business networking come in?  It is the referral base, the lead generator that introduces you to the right people that can use the products and services you provide via your side hustles.   Hopefully, you are building side hustles that truly provide you with residual income.  Real Estate investing is the most popular, but network marketing is the least risky.  I encourage you to take the idea of building a residual income seriously and if you are approached with an opportunity to build something, don't close yourself off, since it may be your path to controlling your own domain.

For Entrepreneurs - Top Tips for Networking this Holiday Season

Jingle bells, jingle bells, jingle all the way, oh what fun it is to have some prospects in my sleigh! Hey!

The Holiday Season is a time that brings people together, so enjoy it. Live, laugh and love during this holiday season. But what does this mean for you the entrepreneur? It simply means you should take advantage of any potential gatherings.

You will find that stores extend their hours over the holidays, why? Because it’s the busiest time of the year for them. And being an entrepreneur there is no exception, if anything this is your time to shine. With countless interactions, social events, celebrations and more – there has never been an easier time to start networking.

Your first conversation is your gateway to meeting more people. It can be intimidating, but with the right approach you can ease your way into. Don’t focus on the fear, for you introverts out there I know how intimidating this can be.

Here’s the key to networking during the holidays – confidence. You have nothing to be afraid of, because you have the key to something incredible; opportunity. You can offer people an opportunity. Whether it be to improve their health, to turn their spending into earning, to shop online and earn cashback, to make some extra money on the side in retailing, or to become an entrepreneur and run their own business – all opportunities. So, don’t go into this with a list of things you want, go into it with a list of things you can offer. The goal here should not be to desperately grow your business, it should be to listen. Simply, listen.

Be genuine and personal. You should not be focusing the same statement to each individual person, as this will come across “salesy”. Each person you approach should lead to a personal conversation that relates to their story.

1. Introduce yourself, and most importantly remember their name – during the conversation use it to address them a few times to develop a relationship.

2. Ask and care about what they do – this breaks the ice and allows them to welcome you into their world.

3. Be able to talk about topics other than work, so find a similar interest – not only is it a great way to keep the conversation going but it allows you to bond over something common.

4. Continue to maintain that confidence and start to think about what solution you may be able to offer them

5. Most importantly – the last 5 minutes of your conversation are what people remember the most, so when you are closing focus on what you want them to remember the most!

How Alumni Networking Changed My Lifetime Goals

My professional life started off like most college graduates.  I started my career after college with a great job at a local insurance company in IT. My career and social life revolved around my job. I really had no outside interests that would support any goals besides what I received from my boss at my annual performance appraisal. Outside of work, my evenings would consist of either going out with friends from work or watching TV, but there was not much to fulfill and inspire me to change my life.

Fast forward to 2007, I was getting the sense my longest tenure at a professional company, a large retailer, was coming to an end. There was low morale and a lot of negativity. I did not feel as negative as my colleagues, but I was getting consumed by my surroundings and I started to think that there needed to be something different out there.

Then one day, I received an email from my alma mater Northeastern University about a Boston Alumni Networking Event at the Alumni Center.   I was thinking, networking?  Is this an IT thing working with switches and routers?   Yes, I was that out of touch with the outside world.

The day of the networking event was one of my worst days at the large retailer corporate job.  There was a round of layoffs and the tension was high.   I stayed in my office with my door shut thinking about how I can get out of the place.   Even though I was a shy introvert, I thought to myself, I need to go to this networking event.

So that evening, I went to Northeastern University for the first time in a long time and arrived at the event.   I looked around and noticed all of the well-dressed happy personable professionals and thought I was on a different planet.   Why was everyone so friendly and wanting to help me?  This is not Corporate America.  I am scared, so I pretended to go to the rest room a few times.

My first networking event ended up being a great experience.  I met some fellow Huskies and was intrigued about the next event where they were going to have a speaker about starting your own business and being an entrepreneur.   I felt a new affiliation with my alma mater and was looking forward to the next event.

For the second event, I saw some of the same professionals I met at the first event and had some amazing conversations about careers and business.  When the speaker went up to give his presentation, I noticed that I felt happy and was lock step listening to what he had to say.   One thing that stood out was the option to start a business while still working a corporate job. 

Later that evening, I ended up meeting a fellow Husky, Sue, who introduced me to her health/wellness business and I mentioned how I would love doing the same.    What? Little old me running my own business?   I was sensing that my lifetime goals were starting to change on that warm April evening in 2008.  So I went for it and started my own business.

The networking bug started to catch on.   I started looking into events all over Boston and even Providence, my hometown.   I got myself some business cards with my new side-business company name, AIMC Websites, and started to meet professionals.   I did not have a Linkedin Account before I started networking, but after only one year I achieved the milestone of 500 connections.

With networking, I also noticed my former introverted self was becoming an extroverted connector.   I was no longer shy and would go up to people, introduce myself, and I would always ask what brought them to the event and asked them about their business and what they liked the most about networking.  Meanwhile, even with a new corporate job, my "side-business" started to grow and I was enjoying the extra income.

After a few years, and going to hundreds of events, I cracked 2500 connections on Linkedin.   I learned the art of going to an event, connecting to professionals, following up and helping each other out.   I was thinking, "why not start my own networking group"?

My side business AIMC Websites was now called AIMC Business Solutions and I was providing social media services and website solutions for my clients.   I was getting pretty good at the social media thing too alongside my networking skills so why not promote my own networking events?

On January 16, 2013, Mass Professional Networking was born at Uno's Bar in Framingham, MA.   I use social media to promote the event and over 100 professionals attended.  I was psyched!   I starting doing monthly events in the Metrowest area outside of Boston but then eventually gravitated to downtown Boston to run monthly events starting in 2014.   I was still going to other events, including the Northeastern Alumni Networking Events.  I was the connector and the entrepreneur, which I loved.   

Networking has changed my outlook on life. It got me out of my shell and has introduced me to positive entrepreneurial professionals that has led me to believe that I can do anything. I am working to achieve financial independence by 2023 by growing the revenue of my businesses to a point that I will no longer need to work in corporate America. If I did not attend that first Northeastern Alumni Networking Event back in 2007, I do not think I would be running my own networking group with over 2000 members and I doubt that I would be talking about early retirement from corporate America.

I recommend that you get more involved with your alma mater and if they have a networking or social event, attend it and see what happens. It could change your lifetime goals like it changed mine.

It is Holiday Time - Some Tips to Beat Stress and Stay Healthy and Feel Awesome

It is the most merriest time of the year. 

A time for spiked egg nog  
Online Shopping
Sitting in Traffic
Scraping ice off your windshield
Dusting off the snow shovel 
and office holiday potlucks.

Whew!  That is a lot, no wonder people are stressed this time of year!

It is no secret that stress is the leading cause and a lot of times the root cause of health issues in the world.

When it comes to diet and food/beverage of choice, it seems the more stressed you are, the more you reach for the most sugary snack or drink.

Bad diets are one of the leading causes, next to lack of exercise and good sleep, for most of our health issues today.   People get sick and are very reactive toward addressing health issues resorting to pharma products to solve all of their issues.   But that is a topic for another day.

So, how do you beat stress?    Some tips are fairly obvious, but some are somewhat of a surprise.  If you do them all together, you may find out stress is a thing of the past and you don't want to live in the past.

So here we go!

(1)  Exercise three or four times a week, preferably in the morning.

Talk a walk at lunch, go to the gym in the morning and set precedent for a great day.  Personally, I notice myself to be less stressed fighting epic Boston traffic in the morning on the days I work out.   There is no excuse for not exercising.  Make the time!

(2)  Eat the Right Foods and Not in Excess

The Europeans got it right.  There are no such thing as buffets there and their meals are mostly made fresh and in small portions.  The less sugar and dairy, the better.   Bread products make you depressed due to bad carbs.   Eat dark vegetables and lean meat and you will notice your digestion to be better and you will feel more energized for the day.

(3)  If you are tired,  Sleep.   Get your Beauty Rest!

After all, you are a pretty good looking person, so in order to be less stressed, if you are tired, then sleep sufficiently.  Around 7-8 hours a night is ideal.  If you have trouble sleeping, check your diet and don't eat anything one to two hours before you call it a night.

(4)  You have a Brain.   Nurture It!

Just like physical exercise, your brain needs exercise constantly by learning new things.   Read an inspirational book, or a topic that makes you happy and positive.   The most successful people in the world are always learning.   Listen to Tom Brady, the five-time Super Bowl winner, when he is talking to the media.  He mentions that he is always learning.     When you are occupied and learning, you don't have time for drama and stress.

(5) Yesterday is History, Tomorrow is a Mystery, Today is the Present

You can only control the present, so don't stress about what happened yesterday.  It is not going to change things.   Live, think and experience your life now in the present and focus on things you can control.   A classic case is if your sports team lost a game.   What control did you have over your favorite team besides screaming at the top of your lungs at your TV?  Get over it and move on.

If you put all of this tips together you will notice yourself to be less stressed and will enjoy the holiday season and any season for its best.     Stress is the root cause and it is always important to solve the root cause of any issue, especially if it has to do with your health.

You are the CEO of Your Life - So What Are You Are Going to Do About It?

Earlier this week, I decided to be a little social at the company cafeteria and sat down with some people I knew.    I figured why not, the cafeteria was serving some BBQ and it would be great to get my mind off of work for a few minutes.    So, I sat down and the conversation started with some small talk, which led to what people did for evening activities after work.   There were six of us sitting at the lunch table so I am sure I would be hearing about some interesting hobbies, maybe about their children's activities or even about a little side gig they are doing.   Not a chance.

The conversation was dominated by news events, TV shows and more TV Shows.    I heard about "The Walking Dead", "The Game of Thrones", "13 Reasons Why" and then more "Game of Thrones".  The excitement and energy over these TV shows was baffling.   Then everyone looked at me wondering why I was so quiet and then proceeded to ask what do I watch on TV.     I answered, well, I don't really watch TV, except maybe Shark Tank or The Profit.  But most of the time, I read books when I am home.    Being nice, one person asked if I was into Science Fiction books.    I said that I was not into Science Fiction and proceeded to mention that some of my favorite authors are Gary Vaynerchuk,  T. Harv Eker and maybe Napoleon Hill.

By now, everyone looked at me like I was some freak show with no life.   I mean, I don't watch "Game of Thrones"?   How lame is that?  One person asked me if Gary Vaynerchuk was some pyramid scheme.

Ok, now I was at a point, that maybe in the future, I will look to spend lunch with a different crew.

You hear these facts all the time.

95% of people work hard to make the other 5% rich.
It is not the size of your TV, it is the size of your Library, that matters
With today's volatile economy, it is more important than ever to have multiple streams of income.

My impression from the TV addicts I sat with is that they basically rely on their company and their boss to dictate their own success and their free time is staying up to date with the most popular TV shows.  After all, what does "Game of Thrones" have to do with investing in a business?  

I didn't have a problem with my lunch colleagues, in fact it was fun and informative.  The time I spend at lunch made me think of how I am a little different from most of my colleagues at work.

So, let's talk about being the CEO of your life.

You are the Chief Executive Officer (CEO) of your life.   You are 100% responsible for your life; its happiness, its wealth and its health.  Your life is the organization and as such will have different departments such as accounting, marketing or health.   In other words, how you manage your finances, your resume, and your wellness.

Here are some tips to get your own departments in order:

- First, assess who you hang with and who influences you, and make any changes that have nothing to do with what you are working to accomplish.

- Second, what is the purpose of your own life?  Is it to be Rich?  Healthy? Compassionate? or all of the above?   Write it down on your dream board so you stay focused.

- Third, assess how you are spending your time.  Are you spending at least 80-90% of time on result producing activities that work toward your goals as the CEO of yourself?  Build a roadmap toward your goals and stay on track.

Personally, my goal is to not rely on a corporation to reach my goals of financial independence and happiness.    I am working toward my goals by reading the right books, hanging with the right people and spending my time on result producing activities "after work" such as my business ventures.  That is what I am doing about it, how about you?

Why Does Network Marketing Get Such A Bad Rap?

Why does network marketing get such a bad rap?

Here is the definition of network marketing from wikipedia.org

Multi-level marketing (MLM), also called pyramid selling,network marketing, and referral marketing, is a controversial, pyramid-shaped marketing strategy where profit is theoretically derived from two revenue streams: from direct sales to customers and from commission based on the sales of recruited team members, also known as down line distributors. MLM salespeople are expected to sell products directly to consumers by means of relationship referrals and word of mouth marketing. They are also incentivized to recruit others to join the company as distributors.

Hmm.... if you were an aspiring entrepreneur and saw this definition, wouldn't you run as far away as possible from this business idea?

Unfortunately that is the perception today with network marketing, internet marketing or whatever you want to call it.

But is it really that bad?   Let's evaluate our options.

Everyone is looking for something today.   Let's be serious, it is the world we are in.

So here are our options.

Corporate America is not trusted and there is no loyality anymore.  Would you be loyal to company giving you a 2% percent raise every year just for busting your butt every day while the executives get all the bonuses?   Probably not.    There is not a corporation in America that shares every profit with every employee today.   If there was one, let me know.  For this reason, everyone is dreaming of that side business to take them away from the rigors of Corporate America.

Starting a Franchise is expensive... very expensive, with little return.  An average McDonalds franchise caps you at $100k earnings per store per year, even after a $1.5 million dollar investment for one franchise store.  And that is on top of the fees and royalties you would have to pay.  Sounds like a great deal, huh?   Not.

How about starting your own business?   Maybe a consulting business, a restaurant, a salon, or a gym?   Like Franchises, you would have to invest a significant amount of money and build a supporting network or organization such as accountants, lawyers, operation manager, marketing, technology, distribution, and maybe a coach to help you put it all together.  And like franchises, for little return.   You want a life?  Forget about it!

How about getting another job?   Didn't you always want to be a bartender at the local bar after a long day at the Corporate office?   Hmm..  let's waste more time for money and little return except dragging out of bed the next morning.  Rock on!

What is left?

You got it.... Network Marketing.

What really is network marketing?
This is my own definition.

Network Marketing a method for marketing a product or service with your network of like-minded professionals.  Network Marketing encourages a team concept where all participating professionals work toward a common goal of financial independence and life satisfaction.

There are thousands of network marketing companies out there.  But which one is best for you.

The first question is what is your passion?   It is health & wellness? technology? energy? travel?

Once you have found your passion, do a simple google search using "network marketing <your passion>" and see what companies appear.

The next task is go to the Better Business Bureau to see how ethical they are.   Do not do a google search about the company, since you may come across disgruntled people that had a bad experience probably since they didn't work the business and thought the business did not work.

After that, search the company on You Tube to get a feel what the company is all about.

At this point, find a contact and then set up a meeting to learn more about the network marketing business with a network marketing professional.   The approach to the business is key to success.

You will find the investment is minimal for the potential that you can achieve with a little hard work.   At the same time, you will be learning on how to run a business, how to interact with people and make a sale and be making money doing it.

A positive mindset and thick skin is important.   You will run into the negative people that have all the answers and call your business a scam.    If the business was scam, it would not in business, right?   Gee, how about companies like Wells Fargo, any insurance company, any company that pushes products that people don't need while executives get all the bonuses?   Now that is a SCAM!

The fear of someone else being successful is one of the reasons why network marketing gets such a bad rap?  Your typical Corporate Joe with his 2% raise is the one telling you your business is a scam.  Obviously, the ones that succeed are the ones that blocks out the negative and focuses on the positive and surrounds themselves with the right people.

So what is your next step?
Evaluate your dreams, your goals, and your future.   Determine your why?  And then how you get there, do your homework,  then get started.   Life is too short to wait!