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How To Turn Your Yearly Income Into Your Monthly Income - Bob Proctor [ The Law of Compensation ] - YouTube
Channel: Proctor Gallagher Institute
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Hello, there, and
welcome, I'm Bob Proctor.
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I'm gonna talk to you about a subject
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that literally changed
the course of my life.
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It's a subject not many people understand,
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but those who do sure live a lot better
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than the ones who don't.
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Now, Spanish Distiller one time said,
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"The good life's expensive.
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"There's another way to live
that doesn't cost as much,
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"but it isn't any good."
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Well, a lot of what he said is true.
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Many years ago, a man gave me this book,
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Think and Grow Rich.
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I was flat broke.
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I had always been flat broke.
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I had never had any money.
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I was 26 years old, I had
two months' high school
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and no business experience.
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He said, "Bob, you read this,
do exactly what I tell you,
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"you can have anything you want."
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Now, I really didn't believe that,
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but I believed he believed it.
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And I said, all I want is some money.
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I figured if I had enough money,
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all my problems would go away.
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See, I was earning $4,000
a year, but I owed 6,000.
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If I had paid every
cent I owned, or earned,
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in 18 months, I would
have just broken even.
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So I really didn't think I was going
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to be able to change that.
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Do you know that within a year,
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I was earning 15,000 a month.
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I went from 4,000 a year, to
15,000 a month, within a year.
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Now, I hadn't got that much smarter.
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You don't have to be
very smart to earn money,
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but you do have to
understand some basic rules,
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and that's what I want
to talk to you about.
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You'll notice here, where we
put money up on the screen,
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there's a young lady there, and myself.
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She is my business partner,
and I'm gonna tell ya,
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if I ever met anyone
that understands money,
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this lady sure does.
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Sandy Gallagher is an
absolutely brilliant woman.
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She was a securities
attorney when I met her,
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had been in the banking
business, in the law side of it,
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for 20 years.
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And she had done $100 billion in business.
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Now I found that out by asking her.
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Said, "How much did you do?"
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She said, "$100 billion."
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I thought, you mean $100 million.
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She said, "No, $100 billion."
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Now, if you considered, she
was turning banks public,
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she was buying banks,
selling banks, merging banks,
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so she was dealing in lot
of money all the time.
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And I thought, that's the kind of person
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I want to work with.
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Well, she is my business
partner today, and has been
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for the past 10 years.
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She's absolutely brilliant
when it comes to money.
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Well, that's what I'm
gonna talk to you about.
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And that's what I want you to think about.
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You see, the truth is, you
can earn as much every month
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as you're presently earning in a year.
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We can show you how to
turn your annual income
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into a monthly income.
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Now that may sound like
a gross exaggeration,
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but it is really not.
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It's the way it happens.
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Now, here's something
that I read in this book,
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when I first started to study it,
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and I first started to earn some money.
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It was by Napoleon Hill,
and it's called Big Money.
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Listen very carefully,
because when this is done,
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I'm gonna show you how
you can execute this.
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Napoleon Hill said, "When
money comes in quantities,
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"known as the big money,
it flows to the one
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"who accumulates it as easily
as water flows downhill."
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Now he says, "There exists
a great stream of power,
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"which can be compared to a river,
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"except that one side
flows in one direction,
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"carrying all who get into
that side of the stream
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"onward and upward to wealth,
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"and the other side flows
in the opposite direction,
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"carrying all who are
unfortunate enough to
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"get into that side, and not
able to extricate themselves
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"from it, downward to misery and poverty."
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Now he said, "Every
person who has accumulated
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"a great fortune has
recognized the existence
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"of this stream of life.
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"It consists of one's thinking process.
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"The positive emotions
of thought form the side
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"of the stream which
carries one to fortune.
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"The negative emotions form the side which
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"carries one down to poverty."
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Now he said, "This carries a thought
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"of stupendous importance.
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"To the person who is following
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"what we're talkin' about here,
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"with the object of
accumulating a fortune.
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"If you are on the side
of the stream of power,
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"which leads to poverty,
this may serve as an oar,
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"by which you may propel yourself to
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"the other side of the stream.
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"It can serve you only
through application and use.
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"Merely reading and
passing judgment on it,
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"either one way or another,
will in no way benefit you."
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Now he says, "Poverty and
riches often change places.
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"Poverty may, and
generally does, voluntarily
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"take the place of riches.
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"But when riches take
the place of poverty,
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"that change is usually brought about
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"through well-conceived, and
carefully executed, plans.
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"Poverty needs no plan.
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"It needs no-one to aid it,
because it is bold and ruthless.
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"Riches are shy and timid.
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"They have to be attracted."
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Now, of course we talked
about that in The Secret,
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you've got to attract it.
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Now, I think you're gonna enjoy this.
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First of all, money has to
be earned, and there is a law
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that governs this whole universe.
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Everything operates by a law, well Emerson
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wrote beautifully, Ralph Waldo Emerson,
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on the Law of Compensation.
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And the Law of Compensation is exact.
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The Law of Compensation
clearly states: the amount
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of money you earn will
be in exact ratio to
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these three points.
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Number one, the need for what you do.
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The need for what you do.
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Number two, your ability to do it.
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And number three, the
difficulty there will be
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in replacing you.
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Now think of that.
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Number one, the need for what you do.
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Number two, your ability to do it.
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And number three, the difficulty
there is in replacing you.
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Now, odds are pretty good,
the need for what you do
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is already there, you don't
have to anything about that.
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Number three will be taken care of if you
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take care of number two.
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You may wanna think about
this for a little while.
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I thought about it for a long while,
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and I realized, it's pretty true.
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So you see, you only have to focus
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on one of those three points,
and that is number two:
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your ability to do it.
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Whatever you're doing, you
wanna get better at it.
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Just keep working at getting
better at what you're doing.
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And there isn't any competition.
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You're the only competition
you're ever gonna have.
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Master whatever you do.
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Master it.
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Now, I want you to think of this.
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There are only three
strategies for earning money.
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Just three strategies.
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Pay close attention.
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It's M 1, M 2, and M 3.
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Now, before I start into
them, here's something
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you wanna burn into your mind.
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If you don't teach your
children how to earn money,
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odds are pretty good
they're not gonna learn.
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School does not teach
us how to earn money.
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You can go all the way through school,
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you can go to Harvard, Oxford,
Stanford, won't matter,
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they do not teach you how to earn it.
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They'll teach you how to invest it.
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They'll teach you how to store it.
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They'll teach you how to count it.
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But they do not teach you how to earn it.
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Now there's three strategies.
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If you're gonna teach your children,
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you teach them number three.
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But let's start with number one.
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Number one strategy is used
by 96% of the population,
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and it won't work.
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It never has worked.
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This is where you trade
your time for money.
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You see this strategy
has an inherent problem,
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it's called saturation.
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It's-- if you run outta time, I don't care
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how effective you are,
I don't care how much
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you earn an hour, you're
gonna run outta time.
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You're trading your time for money.
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It doesn't work.
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It does not work.
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Number two is an excellent
strategy, but it's only used
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by 3% of the population.
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Number two is where you
invest money to earn money.
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Now, people in the number one strategy,
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they hear about this, and so
they squirrel a little bit
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of what they're earning
away, and they invest it,
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but they don't understand
how to invest it,
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and they usually lose it.
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If you're gonna invest
money, you really gotta know
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what you're doin', or go
to somebody that has proved
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that they know what they're doing.
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Number three is where you
invest money to earn money.
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Now the first two
strategies are not the one
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you wanna focus on.
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Here's the one you wanna
focus on: number three.
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It's only used by approximately one person
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out of a hundred.
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This is where this group
earns almost all the money.
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96% of all the money that's
earned goes to a very
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small select group of people.
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And I'm gonna tell you
something, I used to think
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they were really smart.
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Some of them aren't very smart.
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I was earning over a
million dollars a year,
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and I started to analyze
what the heck was I doing,
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how was I doin' it?
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I had stumbled on M 3.
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I didn't know what I was
doin', but was doin' it.
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I had been raised to
believe, if you're gonna earn
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a lotta money, you're
gonna be really smart.
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I knew I wasn't that
smart, but I was earning
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a fair amount of money.
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M 3 is used by 1% of the
population, but they are 96%
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of all the money.
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These people multiply
their time by setting up
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multiple sources of income.
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Now that's the strategy.
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How do you set up multiple
sources of income?
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Well some people get that
mixed up with multiple jobs.
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That's not multiple jobs, it's
multiple sources of income.
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The truth is, you can
set up sources of income
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where you're earning money
while you're sleeping.
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And it's never been
easier than it is today.
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With the internet, and
with the way we're working,
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man, you can make it happen.
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So here we are back again.
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What we want to do is show you how to turn
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your annual income into a monthly income.
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Now pay attention, because
this is super important.
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It's very very important.
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This can be accomplished by having
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multiple sources of income.
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You check back in
history, you're gonna find
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all wealthy people have always had
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multiple sources of income.
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They didn't have one, they had all kinds
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of different sources of income.
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I'm not quite sure how many I've got.
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I don't even look after
them, I have somebody else
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look after them.
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Sandy's got a team of
people, my business partner,
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that looks after our sources of income.
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Now keep standing here.
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Listen to what we're sayin'.
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Our world is changing.
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Make no mistake about it.
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You know, Alvin Toffler
wrote a book, way back
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around 1970, called Future Shock,
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and he talked about the
changes that were coming.
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Well, I was workin' with Earl
Nightingale and Lloyd Conant
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in 1970, and that was a very popular book
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around the Nightingale Conant Corporation.
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We were all studyin'
it, and we were laughing
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at some of the predictions.
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We'll say "This could
never possibly happen."
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Well, move ahead to 40 or 50
years, Toffler fell short.
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He didn't predict it big enough.
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Now, he just passed away here a while ago,
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but he said somethin'
before he died that maybe
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you should remember.
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He said, "The illiterate
of the 21st Century
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"will not be the people
who cannot read and write.
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"They're gonne be the people who
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"cannot learn, unlearn, and relearn."
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Most of what we've
learned, up to this point,
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we're gonna have to unlearn,
and then we're gonna
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have to learn some new rules.
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Now I am unlearning and
learning all the time.
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And I'll tell you somethin' I've learned:
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our world is changing.
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It's not getting bigger.
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The world is getting smaller.
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It is shrinking.
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And here's somethin' else.
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This is very important.
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You can have business all over the world,
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through multiple sources of income.
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Here's the question you wanna ask:
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How much do you want?
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How much do YOU want?
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Because you can set up sources of income
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all over the place.
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Now, I do have multiple sources of income.
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Our company's structured that way.
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We train consultants in
our business to teach
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what we teach, they have
multiple sources of income.
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If I were starting over
today, I would probably
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go into network marketing,
because it is probably
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the easiest way to set up
multiple sources of income.
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Now the fact is that most
people that go into it
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never earn any money, is another thing.
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They're just not working
with the right people.
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Study the real heavy hitters.
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They all have multiple sources of income,
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and they have money comin' at
them from all over the world.
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It's a beautiful thing to understand.
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Doesn't matter where you
live, you can be setting up
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sources of income all over the globe.
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You can just keep settin' them up.
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You like the idea, don't ya?
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Well, I'm gonna tell you something.
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You are capable of doing this.
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We teach this in our programs.
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Now, we don't only teach this way,
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there's all kinds of ways.
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And you'll say, "Well, are
all the sources of income
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"that you have the same size?"
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No.
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Some are bigger, some are smaller.
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But they all have one thing in common.
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Although they're big
or small, they all flow
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into your bank.
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That's right.
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When you have a source of income
that comes into your bank,
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and it just keeps adding up and up and up.
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Now just keep watchin'.
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It just keeps comin'.
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And it comes into your bank.
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Big and small.
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It's a beautiful thing to know.
[845]
(relaxing music)
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How much do want to earn?
[850]
Watch this video often.
[852]
Share it with your friends.
[855]
Not multiple jobs;
multiple sources of income.
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Now Napoleon Hill was
talkin' about the big money,
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what'd he say?
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It's a mental thing.
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It's all in your mind.
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I don't care what you've done in the past,
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I can tell you this.
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You watch this often enough,
you study the material
[872]
in our company, the Proctor
Gallagher Institute for that.
[877]
You'll learn how to earn money.
[879]
'Cause we teach that.
[880]
We teach many things.
[882]
We teach how to control
our own thinking process.
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So I wanna thank you.
[888]
And I look forward to
seeing you in a seminar.
[891]
Sandy Gallagher and I spent all our time,
[895]
teach this information.
[896]
Thank you for tunin' in.
[900]
(upbeat music)
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- [Announcer] Check us out at
[912]
ProctorGallagherInstitute.com,
[914]
for tips, tools, and resources.
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