Copycat Marketing 101, by Burke Hedges

Copycat

Here is a summary of the book Copycat Marketing 101 that I've just read for the second time. Book like this is worshipped by the MLMers, and often it let you take a cold hard look at your life and what you are doing right now.

I agree with what Burke says about true wealth. It is not about buying expensive things. True wealth is synonymous with freedom!

My summary here more or less sums up all the important points (I think) in this book. πŸ˜‰

SAME DOOR LEADS TO SAME RESULTS

“If you continue to do what you’ve done, you’ll continue to get what you’ve gotten.”

Most people want more for themselves, more for their families, than being dead, dead-broke or still working to make ends meet at the age 56.

Imagine

Imagine if time and money weren’t an issue in your life.

Imagine being able to walk your kids to school every morning, and never having to miss a school play or soccer game because you had to work.

Imagine planning your work around your golf, instead of your golf around your work.

Imagine going on vacation and coming back when you want to come back, rather than when you boss says you have to come back.

Current system most people copycat is designed to create temporary income, not true wealth, because it’s based on linear growth – trading time for dollars.

We copycat everything else in our lives.

One thing that we failed to copycat is creating wealth.

We copy others, others copy us and all too often, we ASSUME we are copying the right people!

That’s exactly what happens when we take a job without really thinking about why we took a job.

Most people assume that jobs are the best way to create wealth, when in fact, jobs don’t create true wealth – jobs create temporary income!

Why haven’t we found a way to copycat creating wealth?

The answer is painfully obvious – most of us have been copycatting the job track instead of the wealth creation track.

Most people assume that a job is the only way to actualize their financial dreams.

Perhaps they are unaware of the alternatives to the job.

Perhaps they don’t believe there are other sources of wealth.

“Wealth – is not just about being able to buy things, although that is a nice side benefit. True wealth is synonymous with freedom.”

Wealth is about having enough money and enough time to do what you want, WHEN you want.

Most people think true wealth is having lots of money so that you can buy material things.

But, the wisest people understand that true wealth isn’t so much about buying more things as it is about having more time to do what you want to do.

Think about it:

When you’re old and gray, sitting on the front porch of a nursing home, contemplating how you lived your life, what are you most likely to regret?

     Not buying a more expensive home? Or not spending more time with your kids when they are young?    

     Not working around the clock for that promotion at the office? Or not spending more time with your parents and your   friends when they needed you?

Time is our most precious commodity – far more precious than gold – because once it’s gone, you can never get it back!

The biggest benefit of true wealth is having the freedom to choose how you spend your time.

Doctors and lawyers who make upwards of $150 000 per year – but they feel trapped.

They have the money to buy and do what they want to do, but most do not have the TIME because they have to keep working at their jobs.

They have to work to create income, so that they can maintain their lifestyle.

Income creation is;-           

     10 hours of work = 10 hours of pay

Income creation is an endless treadmill.

It’s called time-for-money.

When the treadmill stops, the income stops.

Where would the highly-paid doctor be if he developed arthritis in his hands and could no longer create income because he had to stop working?

More to the point, where would you be if you could no longer create income because you have to stop working?

According to the Business Week magazine, “It takes the average worker half his lifetime to purchase a home, accumulate some savings and retirements benefits. It takes about six months of unemployment to lose it all.”

Residual income = keeps earning money whether you show up at work or not!

40/40/40 = work 40 hours a week, for 40 years, retire with a retirement dinner and a $40 watch.

50/50/50/50 = 50 hours a week, 50 weeks a year, for 50 years and retire on 50% of what we can’t live on today.

Time-for-money treadmill

The outcome is proportional to the input, which means you get out what you put in – nothing more nothing less.One unit of time equal to one unit of money.

Gary – a house painter.

Work 10 hours per day, $10 per hour.

     1 x $10 = $10 per hour

     60 hours per week = $600

     50 weeks per year = $30 000 per year

He only gets to spend one day a week with his wife and children.

He’ll never make more than $30 000 a year, no matter how hard he works.

He seldom gets time-off, and when he does, he is too tired to enjoy it.

Worst part, he only gets paid once for the work he’s done.

“I’d rather earn 1% of 100 mean efforts than 100% of my own.”

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15 Responses to “Copycat Marketing 101, by Burke Hedges”

  1. sharine Says:

    hmmm profound reading. So should i read the book or read the blog πŸ˜›

  2. MJ Says:

    If ur read the book, know the fact, does it stir you to copycat marketing? One of my 2nd MLM encounter potential-sponsor intro this book to me, I dont remember if I’ve returned the book to him. As I read it, its fact to me… then i say yeah so? What if I already have freedom without being financially free?!

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  4. Er P K Gupta Says:

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  5. Jay Popat Says:

    Thank you for this summary.

  6. Lyn Says:

    MJ – If you are saying that. Meaning that you haven’t understand the facts. You still can’t distinguish between temporary wealth and true wealth.

    Everybody has freedom. But to be financially free is totally the different case here!

    If you haven’t return the book, please read it through again. Good luck with your freedom!

  7. Dr. AJAY M. DESHPANDE Says:

    I Never came across with such a MARVELOUS & USEFUL Book in my life.
    I wish every person in the Universe should have this Diamond in own collection.

  8. Tijmarkiv Gan Says:

    Read it, understand it, apply’em. Dump your ego and learn to be wealthy.
    All wealthy people are businessmen not EMPLYOEES.
    God bless to all of you irrespective you accept the fact or not that JOB will take you nowhere.

  9. Abhijeet kumar Says:

    read till u dont understand only but apply
    work for temporary wealth.but, dont forget while a second about the true wealth
    WARNING!

  10. nguyenthanhllich Says:

    i usually english but i’m student in vietnam.i have no money.i cant buy copycat marketing 101 book.please help me.

  11. Er P K Gupta Says:

    Read newly posted free ebooks at website at http;//www.bindaltech.org. even some hindi stuff also.

  12. mbeliever Says:

    I really like this book! For Filipino networkers, MABUHAY TAYONG LAHAT! 09264340119 – For a very good compensation plan text me. πŸ™‚

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