LNC Foster Owusu | Residual Income

 

Have you ever experienced hesitating to take a vacation because of the fear of not generating income if you won’t grind? Residual income is the solution to this fear. What makes residual income so powerful? Comparing professionals, like dentists or lawyers, to those in the industry who built a lucrative business with residual or passive income differs significantly when both won’t grind for months. Foster Owusu shares his knowledge in this episode and explains why residual income is vitally important. He also describes the power of teamwork to create the best experience and environment. Learn more from this episode with Foster, and leave nothing to chance!

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“Why Residual Income Is Vitally Important” With Foster Owusu

Here we are, Foster Owusu and John Solleder doing another show. We’re already looking at the end of 2022. What happened to 2022? I don’t know. What about you, Foster? Are you going fast on your end too?

It is. The thing about time is it is running off for all of us, whether we like it or not. It is something that you cannot get too much of it. The key thing is you use it as it comes because when you just sit back and let it pass you, you’re not going to get it back. That’s for sure.

One thing we can’t buy any more of or make more of is time. That’s certainly true. Let’s start out with the first question. How do you evaluate a good multilevel marketing business? I know a lot of you know Foster. You’ve known him on previous shows. He and I have co-authored a book together, which is an Amazon bestseller. He’s authored another book on his own as well. I’m sure he’ll reference both of those in our conversation.

Foster is an authority. He’s been doing this for many years. You see a lot and form a lot of opinions. The fact that you’ve been able to survive in network marketing full-time for all of those years means you’ve done something right in your business. It also means you have a good evaluation of what works and what doesn’t. Let’s talk about that. What makes a good multilevel marketing business?

I can probably list the top five, but there are two that are on my list, which I call stability. Stability, in this case, would be financial stability. If I’m going to join a company, regardless of its product, concept, or pay plan, I want to make sure that the company is stable. In other words, if I put it to work, they’ll be able to send me a check. If we are running out of raw materials, they’ll be able to buy products without having to rely on the bank. The profile of the company and the owners of the company will appeal to me. The second thing would be a unique product that has real value in the marketplace. At the end of the day, when it comes to business, if you’re not solving problems, you’re not going to last very long.

The product has to be unique, but it also must have real value. The third thing for me would be something that is in the area of consumables. When you have something consumable, it has this repeat sale that I believe. It gives us the longevity to stay in business. Another thing that I would seriously consider would be the playing field has to be level for others. In other words, the pay plan has to be fair. Finally, if I can talk about one crucial element in evaluating a business would be a guarantee policy on either a product or a service.

The only time you’re going to get bad press from consumers is when they’re not happy. Have something that you can back it up to say, “You can try for 30 days. If you’re not happy, you can return it and get your money back.” As a distributor, if you give me all these points to work with, I can easily build a business out of it. Financial stability and a unique product with real value would be my top two. The other five that I mentioned are equally important.

How does somebody commit to building a successful future? What’s your mindset got to be? What’s the reasoning and logic got to be? What’s their why got to be and all those tangible assets and anything in addition to building that successful future like you’ve done for yourself and your family?

For me, consistency would be one of the key things. To show that you are committed, you have to be consistent. The idea of jumping ships here and there does not serve anybody well. If anybody is reading this, I’ll tell you this. In my many years in the industry, if you start chasing too many rabbits, you end up catching none. Consistency is one key element. It is on top of my list to make sure that you have a solid future. I know this for a fact. Whether principles that you’ve been teaching over the years or something that has been taught by other experts, if you are doing certain things consistently, you will see results. I believe that’s the only way you can guarantee something successful in your future.

LNC Foster Owusu | Residual Income

Residual Income: Consistency is one key element to ensuring you have a solid future.

 

Let’s talk about time management a little bit. That’s something that we have both seen in all of the experiences we’ve had. Not only with the business we built together but in separate companies and everything else. We’ve seen people come in and be masters of managing time that is part-time. We’ve seen other people who are full-time who don’t seem to be able to get anything done and vice versa. We’ve seen part-time people who get overwhelmed and can’t get anything done, and we’ve seen full-time people who are great at managing time.

Let’s talk about the people who are successfully managing time and how to do that with all those life balances that I know are important to you. I know you take care of your health. I know you train every day. I know you’ve got a family, kids, and a wife. You spend time with them. I know you’re very helpful in your church. I know you’re sitting on a board there, etc. How do you do all that and still have time to make the living you need to make to support your family and the style that they become accustomed to in network marketing being part-time or full-time? A lot of readers have full-time employment and are wondering, “How do I find those extra hours to build my business?” Talk about that.

We all have 24 hours in a day. That’s not going to change. It hasn’t changed, and it will never change. At the end of the day, it boils down to the quality of time more so than the quantity of time. The number of times we all have the same thing. Assuming that your eight hours are for sleep, the remaining sixteen hours, what you do with it is entirely up to you. Personally, I don’t like to be overwhelmed by anything, especially when it comes to time. There are certain things that are always beyond our control. We know that. Those are called circumstances. It’s called life. However, I have broken my day into something that I call six packs. It’s a different kind of six pack.

You and I believe in certain things that are across the board. My six pack is certain things that are put in six categories, and for me on a daily basis, something in the area of spirituality and devotion is something that must come first. I call these the things that give me the energy to get out of bed. I’ll spend some quiet time to connect. I do that on a daily basis. The second thing for me on my six pack is in the area of health and fitness. I am big on what I put inside my body. I also believe you don’t need to have a gym membership to stay fit. All you need is a mat, some stretch bands, find some weight, and you can easily do something. I make sure I have zero excuses for things like health and fitness.

When I say health and fitness, on a daily basis, I make sure I take my supplements because you are what you eat. Me getting this interview from you and being interviewed by you is like I’m preaching to the choir, but this message is for the other people who are reading. My six pack is my spirituality and devotion as number one, and health and fitness as number two. Number three is what I call family responsibility. Before I go to bed, I already have an idea of what my family’s schedule looks like the next day. For our home, we have something we call the House of O. That is the house of Owusu. We have a chat where everybody puts in their schedule.

In other words, I have two young adults in college and a teenager who depends on me to get to school and back. The in-between stuff, I still need to know about the young adult’s schedule so that if there’s something that I can do and offer help, I’ll do that. The teenager’s schedule is fixed. We know what time he goes to school and all that stuff and if there’s something I need to do to support my wife and the rest of the family. This is what I call family responsibility. That’s number three. When it comes to number four, like what we are doing now, that’s what I call business.

My six pack number four is business. When I’m doing business stuff, I’m not getting distracted. I’m not being called because the, “Honey, do this for me. Can you get this for me? Can you help with this?” is on item number three. Once I do what I must do, I’m able to focus on business. Number five is what I call personal development. There’s not a single day that I don’t listen to a podcast, particularly the one on Leaving Nothing to Chance. There’s not a single day that I don’t listen to somebody like Jim Rohn. There’s not a single day that I don’t listen to a favorite speaker of mine. If I am having a very low day, I’ll listen to somebody you and I both are fond of.

I remember one time you called me up and said, “You need to listen to this sermon. You got your hands full.” I’m telling you. It was the right moment when I needed that type of uplifting spirit. On a daily basis, personal development is number five on my list. Finally, my six pack is what I call social and relationship development. This is where the nurturing comes in. For example, before this show, there was somebody who was part of my business. She is a diamond consultant. I know that she does not feel that well, so I reach out to her to check up on her. It wasn’t a long or lengthy conversation. She’s not the only one. In other words, when I go through the day, there are certain people that I reach out to find out if they need any help or encouragement from me.

Those are people that are not yet in my business, but I’m reaching out to them, “How’s family? How’s work?” To me, those things are very crucial. They are also part of what I call life because, at the end of the day, life is not just the money in the bank account. It’s not the nice home or the crowd. We can lose all those things. At the end of the day, it’s the things that keep pumping oxygen into your body. Who wants to trade this life for a nicer home or car? No, you’re not ready to give up this thing called life. At the same time, life in itself will have no meaning if you don’t know how to enjoy it. These six things are the things that give me the energy for the day.

Life will have no meaning if you don't know how to enjoy it. Click To Tweet

Let’s stay on this subject because it’s a subject that a lot of networkers need attention on. I saw this years ago. I had a guy in my business. This was back many years ago. There was a guy who was a schoolteacher. He was hitting it out of the park on a part-time basis. The guy would show up at meetings with 2 or 3 prospects, signed him up, and business grew, and he got to a certain amount of money per month where he had equal his school teaching income. His name was Jerry. All of a sudden, he came to me and his upline. It was a guy between us in the business. He came to us and said, “I’m going to go full-time.”

We both said, “At school, you’ve got your benefits. You’ve got your circle of influence. You’ve got other teachers that when you show them what you’re making part-time, you’re going to continue to recruit them.” He worked in a very big school system in New Jersey. On and on we encouraged him like, “That would not be the right thing.” He went full-time, and within about 90 days, he was out of the business because all those good disciplines that you’ve developed for many years now that others that we’ve interviewed on the show have developed over a lifetime of doing what they do were you know every day like, “How do I itemize each thing?”

He didn’t do that. It blew him out of business, and he would’ve had a very successful business. That company is still in business, so he might still have a check now. I’ll never forget that. I was young in the business. I was only in myself for 4 or 5 years at that point. I saw this happen to this guy even a few years older than me. I want to talk about that for a minute.

You have a statement that you got from Rich DeVos, Dexter Yager, or somebody else over at the big A company that there’s no TV in the TV. I remember early on when you and I started working together and becoming friends all these many years ago that we’ve known each other that you said that. Foster Owusu, I do not believe there’s a television set in your house. If you have one, it’s probably not plugged in. Talk about that a little bit because there are a lot of extra hours a lot of people waste watching the boob tube. Talk about that.

Everything that I know, I’ve learned from somebody. For me, I’m not the original on any subject. If you come to my home now, you won’t find any TV working. We don’t watch TV in our home not because we are against it, but we have a lot of things going on in our lives that gives us more joy. We do things together as a family. We pray together every night. I give my wife credit for this. She is big on this. Before we pray, if there’s something that she feels that we need to watch together as a family, even if it’s just 5 to 10 minutes, they will connect the TVs and watch something. In the end, after YouTube, then it is gone.

We don’t spend time watching TV. We are so fortunate. The youngest, I talk about him a lot. This boy, on Saturday morning after his chores, can spend hours reading and drawing and all that. All our children are readers. They’re readers because they’ve seen their dad, who was probably less privileged than they are, coming from a background where I did not have books around me. I did not even have access to a library. If you come to my home and take a proper inventory, you’ll see about 2,000 books around. There’s no real TV in the TV. This is what I think most people don’t get. They think when you go full-time, you have more time. No. It’s what you do with the hours.

I’ll give you this example. I don’t preach to my children, but I reason with them. There was a time before the TV got disconnected and all that. There was a situation where my big son and I were having a conversation. I said, “You know I love soccer. As a matter of fact, I love it a little too much. That’s why I don’t engage in it on Saturday morning watching those stuff. Why? Because if I start watching it the way I want to watch it, nothing will get done in our home. How would you like to have a dad who just sits in front of the television doing the things he enjoys 24/7?” This was based on something he tells everybody, “Because I love doing this and I enjoy doing this.”

LNC Foster Owusu | Residual Income

Residual Income: If I start watching TV the way I want, nothing will get done on a run home.

 

I said, “You may, but not while you’re living at home for free, not while you’re being fed by somebody,” and all that stuff that I was showing him. I said, “When you start living on your own, you can do whatever you want, but here you must contribute. Not because I’m asking you to pay rent, pay for my insurance, or buy gas, none of those things. You’re part in terms of cleaning your room and cleaning after yourself. I don’t need to pay somebody to do those things.” He got the message, and that’s how you manage your time. This does not go for everybody, but I’m having tea now. If I can walk to the sink, it may not take me more than two minutes to wash this and put it that way. I know some people don’t like doing dishes, so I’m not preaching to anybody if this is against your religion. That’s why I’m telling you.

I love to eat. If there’s no food and my wife is not ready, I’m not sitting and waiting on her. I can prepare something very quickly and enjoy my life the same way. When I made it to the sink, I’d spend a minute or two washing it and putting it away. In that case, you’re not piling out of dishes. It’s still part of time management. At the end of the day, if everybody goes and leaves stuff in a sink, you now have twenty dishes for one person to clean. What a person wants to do this full-time or part-time is how you use the time. I call it the quality of time rather than the quantity of time, John.

That makes a lot of sense. Growing up in Ghana, how many books did you have on your bookshelves?

None. Zero. These are the things that get me emotional because I don’t have those stories where people can say, “I read this book when I was young.” I don’t have any story. It was in high school that I saw how other people live. There’s a fellow that I went to school with. His dad was a politician. He was a member of parliament. I went to visit this guy in the estate where he lived. That’s when I realized, “Wow.” He was the first person that I saw with a real library. Like you and I, we have bookshelves that we’ve created over the years. This guy had a room full of books.

The light bulb came off, and I said, “No wonder why he spoke differently. No wonder why he was able to reason differently.” It changed my way of thinking. The only way I would have access to a library was to go to British Council Hall, which is a British library that was outside where I was living. From there, I started developing a real interest in books and reading. Fortunately, in 1989 here in Canada, I got introduced to a great company and program where those people made a lasting impact where they tell you leaders are readers, and readers are leaders. Those are things that they said that stuck with me to this day. It’s like if I have nothing to show for, it’s the brain, knowledge, and confidence that I have because of the investment that I made in myself.

LNC Foster Owusu | Residual Income

Residual Income: Leaders are readers, and readers are leaders.

 

Those books are what we take for granted here in North America. If you’re from somewhere else in the world, not every place in the world has a free public library that you can go down to for free. There was a statistic, and I shared it at different times. There’s 97% of people that are struggling to make bills, and there’s 3% of people who make their bills every month in North America. I got this from Jim Rohn. Everything I got, too, I got from somebody else. There’s 3% of people that are not only able to make their bills but also have a free public library card, and that other 97 %, it’s free.

There was the great Andrew Carnegie, the richest man in the world at the time when he lived, and now there are these libraries across North America, the United States, and Canada. Every other town’s got one. It’s free. Take advantage of it. I was reading about Dr. Ben Carson, both he and Dr. Michael Greger, two guys. Michael Greger is in the health aspect, and Dr. Carson is in the medical aspect. These two guys are geniuses in their own right, both Renaissance men. Both of them grew up with the same kind of parenting and grandparenting. They didn’t go and eat ice cream at the local ice cream store and hang out with the guys. They went to the library.

Grandma or mom said, “Pick out a book,” and they would go in and pick out a random book on a random subject to read about it. Why are we talking about them here? It’s because they’re two of a lot of people that are successful in this world and who had similar habits that they developed, and Foster is a master of this. I can tell you how many times Foster has picked me up in Toronto over the last years and handed me a book, “Here’s a new book for you. It’s some author. You probably never heard of him. You got to read this.” Before we leave time management, I want to ask you one other thing on this.

I have found a trend in doing these shows over the last few years now. Generally, most of the people that are successful in this world get up early. They get about the day. They don’t get out of bed at night, have their coffee until 10:00, and start the day at 11:00 with a big yawn, and about noon, they may get around to doing something. You’re an early rise. I know that because of all the time we spend together. Part of time management, too, is to seize the day. You’re always posted on Facebook early in the morning out of your walk or whatever you’re doing. Talk about that a bit.

This is what I know. At the end of the day, when the bed starts rejecting you, it’s time to get up. If you are awake, lying in bed, and there’s nothing to do, you are wasting time. The time is right and up for all of us. When it comes to time management, one thing for sure is you have to make a habit out of it. There’s a great book written by a Canadian author Robin Sharma called The 5:00 AM Club. That’s the book I have recommended to many people in our industry. Once I read a book and it is helpful to me, I like to pass it on. Sometimes I do that to be able to have a conversation with another reader. Every time I give you a book, on the one hand, is for you to know what I’m reading, and on another hand, I want to be able to get into your head to find out what did you get out of it.

For me, it’s something about having a discussion and something that is on a common level. It gives me the juice. In Robin Sharma’s book, The 5:00 AM Club, for example, he wrote something called Victory Hour. When you get up early in the morning, he has something called the 20/20/20 rule. For the first 20 minutes, you can do one thing, and for another 20 minutes, you can do another thing. You break that hour into 20/20/20. What I’m saying is you and I were readers, but not everybody can read an entire book within a day or a week. I tell people all the time, “If you can read one page, it tells me at some point you can read 2 pages and eventually 3 pages, and on and on.”

For somebody to read 15, 30, 45, and sometimes 60 pages is because they started reading one page at a time. This is how habits are formed. For me, being able to get up early in the morning, there are certain things that in the first three hours, let’s say from 5:00 to 8:00 AM in the morning, I know for sure I’m not getting phone calls to disrupt my day. Whether it’s about me trying to get myself into a particular book or something I need to solve, these are the victory hours. A person like you calling me early in the morning, I got to know it has to be urgent. You don’t call me that early, but if you call me that early, I have to treat it as if it’s an urgent matter.

What I’m saying is most people don’t call you around 5:00 to 8:00 in the morning, at least not on a consistent basis. If you want to do something for yourself in the area of self-development, you want to do it during a time when people are not disturbing you. During the day, those are the time to be reading or having your devotion. There are times when you still need that five minutes to go down somewhere and say, “I need something beyond my brain and knowledge. I need to go down my knees and pray over this before I respond.” You may have certain intervals during the day to do little things. In terms of making it a habit of something that is going to sustain you, you need to make the time. I believe the early hours are the victory hours.

If you want to do something for yourself in the area of self-development, you want to do it when people are not disturbing you during the day. Click To Tweet

There’s a new one out called The Miracle Morning. There’s even a video on Netflix. I have not gotten into it yet. I bought the book. Honestly, with everything that’s gone on in my life lately, I have not read it yet because I was right in the middle of another book when I got it. Dan McCormick suggested it. It’s along the same line but even better. To that point, that old thing that our mothers told us about the early bird catches the worm and all that stuff, that was to get us out of bed probably to go to school when we were kids, but it carries over to adulthood generally.

I’m not saying this to everybody. If you’re reading this and say, “I sleep until 9:00, and I’m a super producer. I go to bed at 2:00 in the morning,” because there are people like that who reads this. That’s okay. That’s your thing. Generally, you’re going to find the earlier you get up, the more you get done. I think of United States Marines. Those guys do more by 7:00 AM than most people do all day. They’re up at 3:00, 4:00, or 5:00 in the morning. There’s nothing wrong with it. Let’s move on, Foster. Let’s talk a little bit about residual income and the power of it.

Residual income is money that continues to flow after an investment of time and resources has been completed. Let’s look at our particular industry. Sometimes we refer to residual income as passive income. There are people that have been able to build what we call businesses that give them royalties and all of that. That’s what I meant by even after an investment of time and resources has been completed. To me, it is the real and the main attraction when it comes to our business. Remember, there are a lot of businesses and professionals out there that may be on a daily or monthly basis could be earning more money than some of us.

Residual income is money that continues to flow after an investment of time and resources has been completed. Click To Tweet

However, what makes this real exciting for me and what makes it powerful for all of us in this industry is the fact that you can bring somebody who’s a professional, such as an accountant or lawyer. Let’s say a commercial pilot or even a dentist. You know that these people are only trading time for money. I’m talking strictly about them working in their professional field. We’re not talking about investments that they have on the side or whatever. I’m just talking about how they earn their money. The real power here is I can name certain people in the industry, including yourself, that I can make this case.

When I’m talking about an accountant, lawyer, commercial pilot, or dentist, and I say, “Let’s say you don’t show up for work for a whole year. Stay in your home. Don’t move. Stay for a whole year. Don’t turn on the computer. Don’t do any work,” I can have people in this industry who have built a lucrative business that have this residual income or passive income come in month after month. I can tell you they will see check after check for the next twelve months, which a dentist cannot do. No dentists and money if they’re not out there physically drilling and cleaning. They don’t earn any money without doing those things. It’s the same thing for a lawyer.

There’s something very powerful about this that, unfortunately, people don’t always understand. I believe probably the person who made a real case for us is J. Paul Getty. He said, “I would rather earn 1% of the effort of 100 people than earn 100% of my own effort.” If you are a commercial pilot, the only time you get a paycheck is when you produce, like when you are a dentist. I can go on and on. Some people think you’re bashing these professions. That’s not a point. You need to draw some comparisons for people to understand why some of us are so passionate about this. You’ve been in the industry since 1983. That makes it decades.

There’s also something very powerful if you were a lawyer, and tomorrow you are to retire, Fred cannot take over that firm. Even if he can run it from a business point of view, most of the partners who now listen to him, if he’s not a lawyer, they’ll say, “What do you know about the law to manage us?” That means you have to sell that business. That would be the end of it. What you have credited over the years, particularly with your large company, is something you can will to your family. That’s what we call generational income. If that does not get a person excited, they don’t love their families enough. As I said, it doesn’t mean that we don’t have our ups and downs, but these are the things that keep me going throughout the day. There’s something powerful in a residual income.

I’ll add to that because you’re right. The business that you build, folks, if it’s in a legitimate network marketing company, and you’re reading this, I assume you’re in something that you believe is a legitimate company. There are a lot of great companies out there in our industry. There’s more to come. There are some new ones that are looking good, some old ones that have done a great job, and there are some really old ones that have done a great job that will lead the way for the rest of us. To Foster’s point, this is a willable business.

I did a consulting job for one of the industry giants a number of years ago, back in 2004 and 2005. The owner of the company or now the owner of the company, I helped him to find the company, buy the company, etc. He bought the company using his money, but I helped him find the company and the people to do that through. I wound up doing some consulting work for that company for about a year. What was amazing, because the company had started way back in the 1950s, was how many legacy distributors I met, being that grandpa started the downline and he’s no longer here, but the grandson or the son has the business that somebody else started. You see that in our industry.

As the industry goes along, for roughly 70 years or so, that network marketing has existed as a business. You see that happening at Foster’s point where in all the companies that have been around for 10, 15, 20 years, or longer where somebody started it, passes away, or they get old and don’t want to do or can’t do it anymore, and a son, daughter, or grandchild takes over the business and continues it.

This is a business that can build generational income for your family. Foster’s got kids, and I have kids. You probably have kids if you’re reading. Keep that in mind. You’re not just building a business now for yourself. You’re building a business with longevity that you’re going to be hopefully able to pass along to a family member down the road. It’s like if you built the local supermarket, 7/11, or Subway store. It’s the same idea. Teamwork, how important is it?

It’s been said many times, and I don’t want to overstate this. We often talk about teamwork makes the dream work. Most successful people will tell you that nobody can survive in a business all alone. Our type of industry, from the get-go, realizes that instead of you having 12 stores, you can have 12 business partners. They can also create their business partners, and they can create their business partners, and on and on. The logic behind this is everybody’s an equal partner. Imagine the energy people bring to the table when everybody is an equal partner, and you are all working towards the same goal. Coming from my background, we used to have a broom. That’s how you sweep the compound and all that. Let’s say I have individual brooms, I can break them easily.

When you have 50 of them and bunch them together, even the strongest person like John Solleder would not be able to break that broom. That is the power of teamwork, where you have so many people working together. I’m telling you, working together, not against each other, because in this type of business, there’s no competition. Every now and then, there will be things here and there that we compete for extra incentives, but what I’m saying is within the organization itself, it’s about lifting each other up. To me, it is probably the best environment for any human being because, at the end of the day, that’s what creates a real win-win experience.

LNC Foster Owusu | Residual Income

Residual Income: When you have so many people working together, not against each other, that is the power of teamwork because this type of business is no competition.

 

We’re wrapping up now. I know you’ve been the co-author of a book with some other guy. You’ve also got your own book that you wrote prior to that. Talk about the two books, where people can get them, and, more importantly, why they should get them.

Both books are equally important. Let me talk about the most important one, called Leave Nothing to Chance. John and I wrote this book. We wrote it because when we were thinking about this book, we felt that we both had learned a lot from great men and women over the years. It would be a very unfortunate situation if we tomorrow should disappear from this planet and nobody knew that we existed and took our knowledge with us. We wrote this book together primarily not to become super famous. We believe that the principles in this book, whether you are in network marketing, a private coach, or in business, as long as you are willing to make things better for yourself and your family, this is a great book.

The title Leave Nothing to Chance, I believe that on a daily basis, every time that somebody reaches out to you and says, “I want you to take a look at something that I’m doing,” you may not understand. Let me say this. It’s simply an invitation, not an obligation. Take a look. It may be for you. It may not. If you don’t take a look and assume that you already know the answer, then it’s unfortunate. You can easily lose on something huge. I’ve been with this amazing company for many years, and at the same time that I saw this business, it was presented to some artists and was shared with some friends and others. Not everybody saw what I saw.

If you were to do the math, even if you just start calculating for the last twenty years what I’ve been able to earn and the contribution that I’ve been able to make to society. When I say to society, sometimes when people are entrepreneurs, we’re being seen as if we are the bad guys, but rather we are the good guys. It wasn’t long ago that somebody ran the red light and ran into me. Fortunately, I’m still here. My point is they thought by now I’ll be receiving checks from somewhere. I said, “There’s no loss of income.” With my type of work, things like this don’t disturb my income. At least not at this point. There’s no claim to have even a loss of income.

I love my freedom. I’m not a burden on society. The fact that I’m not even claiming anything from the insurance company at this point is exciting to me. I have my freedom. All this contributes to a society that sometimes people don’t realize. Not only that. In this book, all the fifteen principles are in there. Apart from what John and I have put in, there are other contributors who have done well in this industry, and you’re going to learn from them. This is my book. I was inspired to write this book, How to Fire Your Boss and Hire Yourself. Primarily, if you look at a title and just read How to Fire Your Boss and Hire Yourself, you think, “Who’s this guy telling me what to do?”

LNC Foster Owusu | Residual Income

How To Fire Your Boss and Hire Yourself

It’s not about you being offended by the fact that you are going to fire a boss. It’s rather what inspired this. What inspired me was the fact that I realized that there’s no job security when somebody else is hiring you for a particular paycheck. I made a case in my introduction that if you can show me one employment contract that guarantees that your job is secure, if you can show me one, I will have a different title for this book. It’s not because I want everybody to go to work tomorrow and fire their bosses.

I’m saying that in case you won’t have that peace of mind and have a little cushion, in case somebody wants to threaten you on a job, even if you love your job, before they say you are fired, say, “It’s okay. We can work together. Bye,” you can now move on. We don’t expect everybody to go full-time in what we do, but I believe in having something to fall back on. If nothing else, I hope every single person will consider having a side gig. This book teaches that. It has ten good principles and all those things. Number one, start with you finding an emotional reason why you want to do something. Number two is something that John talks about, becoming a student. When you become a student, that means you are learning from somebody who has already paved the way. To me, there’s no better way to learn. Back to you, John.

When you become a student, you will learn from somebody who has already paved the way. Click To Tweet

Foster, this has been a privilege and a pleasure, my friend. Folks, there is a lot of information and knowledge here. We’ll have two more shows in November. On November 15th, there will be Karen Ford. Karen, like Foster, is a long-term friend of mine in the industry. She’ll be sharing some of her nuggets. On November 29th, I’m not sure who the guest is going to be. I’m talking to a couple of people about that one. That will be the last show of 2022. “What will we do in December?” you’ll wonder. You can always go to LeavingNothingToChance.com, where all these shows are archived, including the very first show you and I did and so many other great people that have come along that we’ve interviewed and shared so much.

This is like a walking encyclopedia network marketing. We have multimillion-dollar earners that we’ve interviewed. We have people who have been incredibly successful for decades in the industry that we’ve interviewed, like Foster, Karen, and so many others. The late Arlene Lowy was somebody who was featured not on the show but in my prior book, Moving Up: 2020. Arlene, unfortunately, passed away in Pittsburgh. She’s a great friend. One of my thoughts, when I met with her three brothers was, “I got your sister’s story on a podcast.”

I gave them the podcast, and I’ll be sending them a copy of both books here over the holiday season. These books are special not only because of the people who are in them but if you know the people in them. When she passed, her company did a five-page memorial to her, which was beautifully done. These people are special to me because I interviewed them, and they’re friends of mine. They’re also people who have contributed like Foster has to so many other people’s lives.

That will be in November. In December, we’re going to rerun everything on Facebook like we did last December 2021. We’ve got now close to 100 shows that we’ve done. We’re going to post two shows every day for your pleasure. If you’re on my Facebook or Foster’s Facebook or anybody that’s been interviewed, they’ll probably repost them, and we’ll have them up there so you can click on Facebook if you want, or once again, you can go to LeavingNothingToChance.com. We have some special plans because we will be ending the show. Foster wanted to announce this with you on the show, not only of our friendship all these years but being my co-author, sidekick, and so many things over these last couple of decades.

We’re going to be ending the show in April 2023. Everything in life runs its course, whether it’s your favorite TV show, favorite book series, or whatever. April 18th, 2023, will be 40 years since Tommy Houston walked into Nautilus and Westwood, New Jersey, and told me about network marketing. I had never heard of the business. I was in college. I was looking for my first job. He told me about it. I gave him $32 and a hot check. I asked him to hold the check until Friday. I didn’t tell him what Friday, and here we are many years later. We’ve got some special things and interviews that we’re going to do in recanting the past, not just my past, but the past of people like Foster who had been in the industry a long time.

We’re going to have some special additional shows here coming up in January, February, March, and the last one being April 18th. I don’t know what day of the week that is. We normally had a show on Tuesdays, but whatever day that April 18th is to commemorate 40 years. I’m probably going to jump out of an airplane that day. My wife and I were debating. I want to do it with a parachute. She’s suggesting I’d try it without. We’ll see how that turns out.

That’s good French Canadian humor that my wife had. She says, “Why don’t you try it without a parachute?” I’ll invite anybody. If you want to come to Dallas and jump out of an airplane with me, Foster, or anybody else reading, let me know. We’ll see how that turns out. I might chicken out at the last minute. I’m talking to some other people in the industry. I say, “Why don’t you come down to Dallas and jump out of a plane with me?” They’re like, “Are you crazy?” Foster, this has been a pleasure, my friend. Any last parting words before we go?

Thank you, John, for your contribution to this great industry and the caliber of people you have assembled over the years, telling friends, even people who are not in our particular company and industry. I said, “If you want to tap into real knowledge from people who have done it and walk the talk, this is the place to go.” It’s been a real blessing, and I just love our friendship. Great job.

If you want to tap into real knowledge from people who have actually done it, walk the walk. Leaving Nothing to Chance is the place to go. Click To Tweet

Thank you so much.

 

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About Foster Owusu

LNC Foster Owusu | Residual IncomeMy Entrepreneurial Journey Was Thrust Upon Me Due To Unfortunate Circumstances Beyond My Control.

My Mother died when I was seven years old. My father died seven years later. Having to do without my Mother, and later my Father, also meant that I had to find means to survive. This forced me to find creative ways to earn income. I became a shoe polishing and shirt ironing boy for the working men in our town. I helped my grandmother get produce to sell at the local market from the farm and at times the neighboring forest. My brother and I painted houses and found other ingenious ways to put money in our pockets.

I Had The Opportunity To Join An Up-And-Coming Network Marketing Global Giant, Immunotec Inc.

Fast forward, in February 1999, I had the opportunity to join an up-and-coming Network Marketing global giant, Immunotec Inc. At the time, the company had been in business for three years. I was sold on their flagship product right away. I also made fast and lasting friendships with the company’s founders and managing team. I saw the income potential in distributing their product. I began setting some big goals for myself. I knew the company was putting in 100%. I was equally committed to investing my 100% and combining it with the company’s input to make it 200%.

I Was The First Person Of African Descent To Become The First Diamond.

I soon discovered that there were no prominent Africans or members from the Afro-American, Canadian or Caribbean communities that were connected to the Immunotec Distributorship. I was the first person of African descent that succeeded in becoming the first Diamond, first Executive Diamond, and the first member of the prestigious millionaire’s club.