3 Multipliers of Income



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My friend Larry is a speaker for corporate seminars. Many years ago, He earned P5,000 for every seminar he gave.

Over time, He became more well known.

His network expanded and his skills improved. Today, he earns P25,000 per seminar. Pretty good, right? 
Photo credit: https://pixabay.com

In a month, he can give eight seminars. That’s P200,000 a month. Minus taxes of 30 percent, that’s P140,000. Minus the salary of his full-time secretary and part-time accountant, plus other office expenses, his take home pay is P110,000. Still very nice. But last month, He visited me and asked me how he can earn more. “How much more?” I asked my friend. “I want to earn P500,000 a month,” he said. “That’s a pretty big leap,” I chuckled. “I’ve got big dreams,” he said, “because I’ve been listening to your talks. I really want to give big to God. 

I’m sure you’ve thought of some ways you can earn more,” I said. “Can you tell me your ideas?” “Well, I could increase the seminars I give in a month,” he said. “How many more can you give?” “From eight a month, perhaps I could add four more. Twelve is my maximum.” “Will you still be alive by the end of the month?” I frowned. “Barely,” he laughed. “And will your kids still see you?” With a sad look on his face, he answered, “Some of my seminars are held in Tagaytay. Or Subic. No, I won’t be able see them often.” “Any other ways of earning more?” “Well, I could charge more…” he said with hesitation in his voice. “Yes, that’s possible. How much more?” I asked. “Perhaps 35,000 per seminar. But not more than that. My competitors charge only P25,000 per seminar. So I need to convince the companies I serve that I’m worth the higher price.” “So how much will you earn if you raised your price?” “Let me see… if I still gave eight seminars, I’ll earn P280,000.” “Your take home?” I asked. “About P160,000.” “Still not P500,000…” “Nope,” he said. “No other ideas Larry?” He shook his head. “I’m stumped. That’s why I came to you.” “Unfortunately, the two solutions you thought of—increasing your number of seminars or increasing your fee per seminar—is still exchanging your time for money. 

That path can increase your income but only incrementally.” “And clearly, I don’t want incremental growth.” “You want a quantum leap in your income.” “Exactly. What should I do?” That’s when I shared to Larry the three multipliers of time and income. 

How to Multiply Your Time and Income 

“If you keep exchanging your time with money, it will always have a limit. Because time is constant for every human being. All of us have only 24 hours a day and seven days a week. I’ve never met anyone who has 25 hours a day and eight days a week. In order to earn massively more, you need to multiply your time. To do that, you need to use the three multipliers of time and income.” “What are they?” he asked. “Manpower, Media, and Money.” 

1. Manpower 
“Can you train other seminar speakers?” He nodded. “I’ve got two guys that I’m training right now. In two or three months, I’m positive they’ll be able to give my seminars.” “Great. Manpower is the first multiplier. If you train 10 speakers and sell their seminars, you can earn 30 percent from every seminar they give. Can you see yourself doing that?” “I think I can,” he said. “Ultimately, you can even hire another person to sell the seminars for you. Just give him a share of the commission. Perhaps 5 percent for every seminar he books for your team of speakers.” “Hmm, I didn’t think of that before.” “So let’s do the numbers. Let’s lower the figures since your speakers are just starting out. If they get paid P20,000 per seminar, and each can only give four seminars a month, that’s P80,000. If you earn 30 percent of that, that’s P24,000. If you have 10 speakers, that’s P240,000 a month for you.” “Wow! But can I really manage 10 speakers?” “That’s a question only you can answer.” “Like what will prevent these guys from leaving me and doing it on their own?” “When you use the Multiplier of Manpower, you need to grow in your leadership and relationship skills. That’s another topic we can discuss for many days. I have two dentist friends. One is happy being a dentist in his own clinic. My other friend is a dentist who runs six dental clinics with 12 dentists working with him. Guess who earns more?” Larry took down copious notes. He asked, “Okay, what’s the second multiplier?” 

2. Media 
“Media. Can you put your seminar in book form?” “Yikes, I’m not a good writer. Just a speaker,” Larry said. “Then record your seminar and ask an editor to write it down for you.” “I can do that?” “Sure.” “But that means getting a publisher. They tell me that’ll be very hard. Almost impossible.” “Don’t get a publisher. In today’s Internet-connected world, new authors don’t need publishers anymore.” “They don’t?” “Authors self-publish.” “What do you mean?” he asked. “Computers have made it very easy to print a book. Just hire the right people—a good editor, a good proofreader, and a good layout artist. And then shop for a printing press that can publish your book.” “I’ll earn more that way?” he asked. “Publishers give authors an author’s royalty of 7 percent of the price of a book. If your book sells for P300, they’ll give you P21 per copy. If you sell 300 copies every month—and that’s a big IF—you’ll earn something like P6000 a month.” “Not very impressive.” “That’s why I tell all first-time authors to try self-publishing. Because after subtracting your printing costs and sales commission to bookstores, you get 30 percent of your cover price. If your book sells for P300, you get P90. If you sell 300 copies every month, you get P27,000.” “That sounds better. But I don’t know anything about publishing a book. Or selling it in bookstores!” “The first thing you do is create a following through the web. Use Facebook! Use YouTube. Use Twitter. Give parts of your work away for free. Create a relationship with your audience. And when people know you and love you, sell a hard copy through the web, sell through bookstores, and sell an ebook. Later on, you can sell books of other authors related to your topic.” “I can do all that?” he asked. Larry had this overwhelmed look on his face. “I don’t know,” I answered. “Only you can answer that question. But if you have the passion and perseverance, you can learn anything.” “You’re absolutely right, That’s what I teach in my seminars!” We both laughed. “The book is just the start,” I said. “Later on, you won’t even think of the book as your source of income. It’ll just be your marketing tool. You can create a video seminar and distribute that through the web. You can even sell it to the companiesthat have already taken your seminar—as a way of reviewing the material you gave to them.” “My gosh. How much will I earn if I use media?” “The amount depends on you. Another P100,000? P200,000? This morning, my friend told me he earned P1 million last month using the Internet as his media.” “Unbelievable. Okay, what’s the last multiplier?” 

3. Money 
“After manpower and media, the third multiplier is money.” “What do you mean?” “Tell me. Where do you give your seminars?” “Plenty of companies. Jollibee. Ayala...” I interrupted him. “Let’s take those two companies. Your seminars are improving them?” “Absolutely!” he pumped his fist to the air. “Then buy those companies.” “Huh?” Larry asked. “Buy Jollibee and Ayala shares. You become part owner of those giant companies. Your money is working for you. So you’re not just a speaker of these companies, you’re also a part owner of these companies.” “That sounds really nice.” “Of course, you can also start other businesses with your money, hire people to run it for you, and earn a bundle. But that will require a lot of time, a lot of trial and error, and going out of your core gift. So my suggestion is just invest in the stock market and let others manage your companies.” “Wow.” “Use all three multipliers. Manpower. Media. Money. When you’re earning P500,000 per month, tell me.” He smiled from ear to ear. “Jen, you’ll be the first to hear about it!”


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