The Magic Penny
Imagine with me if you were asked to consider this proposition:
You have the opportunity to pay $100,000 to receive $1,000,000 at the end of the month or you could pay $10,000 to receive a magic penny today.
Let’s imagine that you, and we’ll say your name is Tom, and another fellow, and let’s say his name is Bob, were both given this opportunity. Tom chooses the penny and Bob chooses to pay $100,000. So at the start of the month Tom has spent $10,000 for a magic penny and Bob has spent $100,000 for a future $1 million.
Now this magic penny is interesting. It doubles every day. At the end of 10 days, it has become 512 pennies. Tom is beginning to wonder if he made a smart choice. Bob is counting on that $1 million.
At the end of 21 days Tom has $10,000, and has made his money back. Bob is still counting on that $1 million. Tom is now happy, because every day his money is doubling. It still is not the million dollars that Bob will have, but at least he’s not out any money. Bob is still out the $100,000.
At the end of four weeks, Tom has over $1,300,000. Bob is still waiting for his million dollars..If the month has 31 days, Bob receives $1 million, and Tom has $10,737,418. If the month only has 30 days, Bob receives a $1 million and Tom has $5,368,709.In any event, Tom made the smart choice.
Now let’s add a wrinkle to the exercise. Suppose for a moment that Tom must do certain things to control the speed of the doubling. If he does everything right, the penny doubles every day, and the result is what we just said. But suppose he omits one of the necessary actions and the penny doubles every week instead of every day. Tom would still get to the five or $10 million, but it would take 31 weeks. Suppose Tom omits two of the necessary actions and the penny doubles every other week. Tom would still get the big money, but it would take more than a year.Suppose Tom omits three of the necessary actions and now the penny doubles every month. It would now take almost 3 years to reach the big money. That is still better than the 40 to 50 plan.
What is the point of the story? You are the magic penny. More specifically, your network marketing business is the magic penny. By performing or not performing the correct actions, you control the rate of duplication.That is why it is important to find a mentor and do what they say. Suppose Tom had taken 10 months to reach 512 pennies. At that rate, at the end of one year he would have a little over $20. That could be discouraging and he might throw the penny away. How sad that he didn’t give it one more year. At the end of that year, he would have over $83,000.
The moral of the story is, find someone in your company who has been successful and ask them how they did it. If your company, like mine, has a proven plan then follow it. Plan on giving this a 2 to 4 year commitment doing your best every day.