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Master of Passive Income

Module 1 Guidebook

MPI Module 1:
Developing Your Mindset

Key Points, Exercises,


and Assignments
MPI Module 1 – Developing Your Mindset

Table of Contents
OVERVIEW OF MODULE 1 – DEVELOPING YOUR MINDSET .............................................. 3
Lessons in Module 1..................................................................................................................................... 3
Learning Objectives..................................................................................................................................... 3
Key Terms ..................................................................................................................................................... 3
LESSON 1 – BECOMING A VISIONARY AND LEADING OTHERS....................................... 4
Key Points for Lesson 1............................................................................................................................... 4
Exercise 1: Gain Clarity Regarding Your Business Goals .................................................................... 4
Exercise 2: Gain Clarity Regarding Your Personal Goals.................................................................... 5
LESSON 2 – BECOMING PREEMINENT IN YOUR CHOSEN AREA OF PASSIVE INCOME...... 6
Key Points for Lesson 2............................................................................................................................... 6
Exercise: Describe What a “You Attitude” Means to You ................................................................... 6
LESSON 3 – BELIEVING IN YOUR VISION............................................................................... 7
Key Points for Lesson 3............................................................................................................................... 7
Exercise 1: Describe What You Want to Do for Your Clients ............................................................. 7
Exercise 2: Describe What It Means to Believe in Your Vision ........................................................... 8
LESSON 4 – BECOMING PASSIONATE ABOUT WHAT YOU’RE DOING........................... 9
Key Points for Lesson 4............................................................................................................................... 9
Exercise 1: Identify Your Passions............................................................................................................ 9
Exercise 2: Identify Your Non-Passions ................................................................................................. 10
LESSON 5 – THE TWELVE PILLARS OF STRATEGIC BUSINESS GROWTH ................. 11
Key Points for Lesson 5............................................................................................................................. 11
Exercise: Applying the Twelve Pillars .................................................................................................... 11
LESSON 6 – THE MINDSETS YOU NEED TO DEVELOP ..................................................... 13
Key Points for Lesson 6............................................................................................................................. 13
Exercise: How Can You Incorporate These Mindsets? ....................................................................... 13
HOMEWORK ASSIGNMENTS ............................................................................................15
APPENDIX A – ADVANCED STRATEGY OF PREEMINENCE OVERVIEW ....................... 16
Key Points ................................................................................................................................................... 16
Exercise: How Can You Apply the Advanced Strategy of Preeminence? .......................................... 18
APPENDIX B – TOPICS COVERED IN THE Q&A AUDIO SEGMENT ................................. 19
CAVEATS AND DISCLAIMERS................................................................................................. 20

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MPI Module 1 – Developing Your Mindset

Overview of Module 1 – Developing Your Mindset


Lessons in Module 1
Each lesson in the list below corresponds to a specific section in the Module 1 video presentation. You can
view the entire presentation in one sitting, if desired, or, you can view or review each individual lesson by
clicking its link in the left-hand navigation pane of the video presentation window.
Lesson 1: Becoming a Visionary and Leading Others
Lesson 2: Becoming Preeminent at Your Chosen Area of Passive Income
Lesson 3: Believing in Your Vision
Lesson 4: Becoming Passionate about What You’re Doing
Lesson 5: The Twelve Pillars of Strategic Business Growth
Lesson 6: The Mindsets You Need to Develop
Homework Assignments
Appendix A: Advanced Strategy of Preeminence Overview
Appendix B: Topics Covered in the Q&A Audio Segment

Learning Objectives
As a result of completing this module, you should be able to:
1. Identify a set of compelling business and personal goals that will inspire and fuel your business endeavors.
2. Explain how passion, trust, a “you attitude,” and the Advanced Strategy of Preeminence all contribute to
becoming highly respected and successful in a business or profession.
3. Develop a vision statement for your own business that you can clearly articulate to others.
4. Identify the activities and tasks that you are most and least passionate about doing.
5. List various ways that you can incorporate the following mindsets into your business activities:
• Opportunistic vs. strategic
• Optimization vs. innovation
• Control vs. ownership

Key Terms
Terms used in this module (use the Glossary tab at the top of the video presentation window to see definitions):
1. Business 3. Entrepreneur
2. Cash flow 4. Passive income

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MPI Module 1 – Developing Your Mindset

Lesson 1 – Becoming a Visionary and Leading Others


Key Points for Lesson 1
Your own mind can be a great collaborative partner for you because it’s designed to help you solve problems
and achieve goals. This lesson covers the following core ideas:

• Your aim in this program is to set a much higher ceiling on what you’re capable of doing, while reducing
any tendency you may have to be fearful.

• You can conservatively try out many different possibilities without becoming so scattered that everything
you do becomes mediocre.

• You need to gain great clarity about your personal and business goals, and apply it to everything you do.

• Your mind is a great collaborator for achieving goals you set, solving problems you feed it, and attaining
opportunities you define for it.

• You must learn to be a visionary for yourself before you can enlist others. Your vision must include
perceiving, conceiving, and believing an expanded reality for yourself and the organizations and entities
whose assets or access you’ll be engaging. You must believe in your vision, or you will self-sabotage.

• This visionary belief is the driving force, and it is fueled by the trust that Stephen M.R. Covey teaches, the
passion that Dr. Stephen Covey teaches, the “most trusted advisor” mindset that the Advanced Strategy of
Preeminence teaches. It’s how you’ll get people to enthusiastically engage with you and allow you to work
with them.

• Realize that people are silently begging to be led, but they want to be led by someone they trust. If you
keep other people’s best interests in mind, visualize for them what realizing those interests will look like
— and manifest that vision in your confidence, passion, and action — people will rally around you.
Directions: After viewing Lesson 1of the video presentation, please return to complete the exercises below.

Exercise 1: Gain Clarity Regarding Your Business Goals


Identify at least 10 business goals you would like to set for yourself as a result of going through this program:

1. ___________________________________________________________________________________
2. ___________________________________________________________________________________
3. ___________________________________________________________________________________
4. ___________________________________________________________________________________

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MPI Module 1 – Developing Your Mindset

5. ___________________________________________________________________________________
6. ___________________________________________________________________________________
7. ___________________________________________________________________________________
8. ___________________________________________________________________________________
9. ___________________________________________________________________________________
10. ___________________________________________________________________________________
11. ___________________________________________________________________________________
12. ___________________________________________________________________________________

Exercise 2: Gain Clarity Regarding Your Personal Goals


Identify at least 10 personal goals you would like to set for yourself as a result of going through this program:

1. ___________________________________________________________________________________
2. ___________________________________________________________________________________
3. ___________________________________________________________________________________
4. ___________________________________________________________________________________
5. ___________________________________________________________________________________
6. ___________________________________________________________________________________
7. ___________________________________________________________________________________
8. ___________________________________________________________________________________
9. ___________________________________________________________________________________
10. ___________________________________________________________________________________
11. ___________________________________________________________________________________
12. ___________________________________________________________________________________

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MPI Module 1 – Developing Your Mindset

Lesson 2 – Becoming Preeminent in Your Chosen Area


of Passive Income
Key Points for Lesson 2
• You must be a confident leader who demonstrates infinite certainty to create trust and persuade others to
take action — so that people will buy your proposition. The Advanced Strategy of Preeminence (discussed
in more detail in the Appendix) teaches this, which you should read every day to shift your confidence and
focused connectivity in everything you do. It provides a foundation and philosophy for all business success.

• One of the keys to preeminence is developing a “you attitude.” This attitude pertains to the individuals
you are communicating with — people in business, or even your loved ones or children. It means viewing
yourself as their greatest advisor, as the provider of the greatest value that they never get on their own.
You should learn to communicate to them that you do have their best interests at heart.

• The 502 Case Studies provide firsthand accounts of how past clients, students, partners, and seminar
attendees successfully applied a few key marketing concepts to their businesses. The case studies explain
how they did it, the mindset they used, the transactional processes they employed, the bottom-line impact
they produced, and the recommendations they would have for anyone else wanting to use these concepts.

• Learning how other people have applied these concepts will help you apply them to many of your own
business situations. Understanding what your contribution is to the world and yourself will come from
studying the Advanced Strategy of Preeminence.

• You’ll learn to set incremental benchmarks for success, and recognize the value you can bring to others.

• You should read the Secret Wealth manual to learn how to hold yourself to a higher standard, and make
your life a more productive, profitable, and paying proposition.
Directions: After viewing Lesson 2 of the video presentation, please return to complete the exercise below.

Exercise: Describe What a “You Attitude” Means to You


After reading the description of leading with a “you attitude,” explain you how could apply it in daily life.
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MPI Module 1 – Developing Your Mindset

Lesson 3 – Believing in Your Vision

Key Points for Lesson 3


Building your vision needs to focus on a clear picture of what you want, as follows:

• What are you trying to do for the organizations, entities, or businesses, or other clients with whom you
want to create deals? It needs to be something meaningful, for example, some kind of social contribution.

• Your vision will gain clarity and expand over time, especially as you read through the 502 Case Studies.

• You need to be clear in how you explain your vision, and there are many ways to do that. For example,
you can share it freeform with someone you trust while recording yourself, and then ask that person to
state what he/she heard. You can also trying writing it down and have someone else read it, and then
afterward ask that person explain what he/she got out of it.

• You will want to develop a measurable and tangible vision statement that you can articulate clearly.

• You also want to develop a process for attracting the resources and people who can embrace your vision
and help you fulfill it. In this way, you can achieve what you want to create for yourself, your clients,
your community, and the world.

Directions: After viewing Lesson 3 of the video presentation, please return to complete the exercise below.

Exercise 1: Describe What You Want to Do for Your Clients


Explain in your own words how you believe you can best serve organizations, entities, or businesses, or
other clients with whom you want to do create deals.

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MPI Module 1 – Developing Your Mindset

Exercise 2: Describe What It Means to Believe in Your Vision


Draft a vision statement for yourself that you can articulate to others. Explain it aloud to someone, or ask
someone to read it, and then ask that person to explain back to you what it meant to him or her.

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MPI Module 1 – Developing Your Mindset

Lesson 4 – Becoming Passionate about What You’re Doing

Key Points for Lesson 4


• You need to center on your passion — the passion you have for what you’re doing and for whom you’re
doing it. There are infinite, but unequal, directions in which you can take what you learn.

• You need to determine the best path for yourself. The more you know yourself, the better you will be able
to find deals that fulfill your passion, progressively raising the level of the “game you play” as you go. In
the chapter from The Passion Test, Jay shares his own views about what passion means to him.

• Most people lack passion because they operate out of economic or psychic necessity.

• You, however, will have many more options as you see the possibilities during this program, which will:
1. Teach you a mindset that will serve you well in the future.
2. Explain the methods, options, and opportunities out there.
3. Help you identify your own highest and best use of your time, talent, contacts, and relationships.
4. Figure out what your own unique, personal set of strategic goals should be, and why.
5. Identify exactly what success will progressively look like to you — it’s not a static process.
6. Quickly build an “action game plan” for yourself that you’ll commit to, reverse engineer (take apart to
figure out how it works), execute, and share with others.

• You should pursue only those things that you’re most excited about. You may have been doing things
that are stressful, unfulfilling, and not maximizing your skill set. You have total control over what you do,
but you need to become very clear about what your best interests are.

• Many people don’t ask whether they should stay in the business they’re in — although they should ask
this question. You have a clean canvas, however, and can do whatever you wish.
Directions: After viewing Lesson 4 of the video presentation, please return to complete the exercise below.

Exercise 1: Identify Your Passions


Find a quiet place to do some deep introspection and soul-searching. Ask yourself what things you most enjoy
doing (which are not necessarily the same as what you are “good at” doing). For example, these are often the
activities in which you tend to be most in your “zone” and easily lose track of time.
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MPI Module 1 – Developing Your Mindset

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Exercise 2: Identify Your Non-Passions


Next, ask yourself what things you least enjoy doing — even if you are good at them. For example, these are
often the activities that you tend to put off, dread doing, or perceive to be drudgery. You will probably want to
engage in these tasks as little as possible, and would benefit from delegating or outsourcing them.
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MPI Module 1 – Developing Your Mindset

Lesson 5 – The Twelve Pillars of Strategic Business Growth

Key Points for Lesson 5


Incorporate these Twelve Pillars into your passive income strategy, as well as into your day job, and they will
serve you well.

1. Identify hidden assets in other people’s businesses.


2. Regularly mine cash windfalls for them and for you from those businesses.
3. Engineer more success than not with every action, effort, and decision you make.
4. Develop your passive income business on a foundation of multiple profit sources, starting with one
source and building on it.
5. Be uniquely advantageous in the eyes of all parties with whom you do business.
6. Create real value for the businesses you align with for maximum loyalty and results.
7. Seek the greatest possible leverage from your time, energy, actions, and the financial or psychic
investments or commitments you make.
8. Network, brainstorm, and mastermind with like-minded people to increase your knowledge and leverage.
9. Turn yourself into an idea and value generator, and a recognized innovator within the business
community. Make “growth thinking” a part of your everyday business philosophy.
10. Reverse the risk for the people you deal with so that it’s easier for them to say yes than no. Reduce their
downside to zero, and their upside to almost infinity.
11. To reduce risk, use small, safe, validating (or invalidating) tests before committing large chunks of time,
energy, or capital.
12. Use “funnel vision” (instead of tunnel vision) to take advantage of others’ experiences and visions.

Exercise: Applying the Twelve Pillars


Whether or not you currently own a business, identify ways that you can incorporate the “Twelve Pillars of
Strategic Business Growth” into your passive income strategy, and/or into your day job.
1. ____________________________________________________________________________________
2. ____________________________________________________________________________________
3. ____________________________________________________________________________________

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MPI Module 1 – Developing Your Mindset

4. ____________________________________________________________________________________
5. ____________________________________________________________________________________
6. ____________________________________________________________________________________
7. ____________________________________________________________________________________
8. ____________________________________________________________________________________
9. ____________________________________________________________________________________
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20. ____________________________________________________________________________________
21. ____________________________________________________________________________________
22. ____________________________________________________________________________________
23. ____________________________________________________________________________________
24. ____________________________________________________________________________________

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MPI Module 1 – Developing Your Mindset

Lesson 6 – The Mindsets You Need to Develop

Key Points for Lesson 6


The following mindsets involve ways of looking at opportunities and structuring deals. Some are derivatives of
one another.

• Opportunistic vs. strategic – You can be either opportunistic or strategic when evaluating deal-making
possibilities. With a strategic mindset, you can engineer things that are either sustainable and/or will take
you to higher ground. An opportunistic approach is often lucrative, but usually not sustainable. It might
involve setting up a deal that will result in a one-time windfall, for example, but no further income.

• Innovation vs. optimization – Optimization helps your potential partners realize the full possibility of
what they already have or do. Innovation adds totally new realms of possibility that didn’t exist before,
which multiply their scope of opportunities.

• Control vs. ownership – Ownership involves overhead (e.g., payroll, taxes, managing a staff) and other
concerns that control does not. Having control or access offers many of the benefits of ownership without
most of the expense or burdens of responsibility.

Directions: After viewing Lesson 5 of the video presentation, please return to complete the exercise below.

Exercise: How Can You Incorporate These Mindsets?


List some of the ways that you might apply the opportunistic vs. strategic, innovation vs. optimization
and/or control vs. ownership mindsets into your daily activities.
Opportunistic vs. Strategic:
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MPI Module 1 – Developing Your Mindset

Innovation vs. Optimization:


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Control vs. Ownership:


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MPI Module 1 – Developing Your Mindset

Homework Assignments
Preliminary readings:

1. Stephen Covey interview on passion

2. Stephen M.R. Covey interview on gaining trust

3. Fran Tarkington interview on the meaning of business life

4. Brian Tracy interview on paying yourself what you’re worth

5. Brian Tracy article on maximizing your time, setting and achieving goals, and maximizing your efforts

6. John Dudeck interview on getting the highest and best use of your time, energy, opportunities, and efforts

7. Paul Lemberg article on change

8. “15 Specific Barter Strategies”

9. Double-O Matrix

Primary Module 1 readings:

1. Advanced Strategy of Preeminence (read every morning and evening, for 31 days)

2. Tom Phillips interview

3. “93 Referral Systems” summary

4. “Nine Drivers of Upside Leverage & Exponential Business Growth”

5. Alan Coleman on “Rethinking Inside The Box”

6. “Partner or Perish” PowerPoint presentation

7. One third to one half of the Secret Wealth manual

8. The 502 Case Studies (read 50 of these)

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MPI Module 1 – Developing Your Mindset

Appendix A – Advanced Strategy of Preeminence Overview


Key Points
The 8-part Advanced Strategy of Preeminence

One: Establish your relationship with others as their most trusted advisor.
Two: Put into words the gnawing feelings, desires, and frustrations that your prospects have, but are unable
to verbalize.
Three: Tell your prospects and clients the truth as you see it.
Four: Never let them do things that are not in their best interests.
Five: Tell them how you see life, in your own words, without holding back.
Six: Fall in love with your clients, not your business or your product.
Seven: Realize that what makes people buy from you, hire you, and give you raises is how much value you
can give them of the type that they really desire, prize, and want.
Eight: Demonstrate that you offer the only viable solution to a problem they face.

Additional Insights into the Advanced Strategy of Preeminence

Extremely successful companies:


• Strive to have enormous empathy with their customers.

• See their purpose as selling leadership, as opposed to letting their clients do whatever they want.

• View their roles as being leaders and authoritative, consultative forces in their marketplaces.

• Recognize an essential need to telegraph, communicate, and convey to their customers and prospects the
following message: “I feel the way you feel. I understand what your problem is.”

• Perceive a distinct difference between giving information and giving advice.

• View their roles as telling clients, “Here’s what you should do about a problem, situation, or opportunity,”
and specifically support that advice with a set of compelling, irrefutable facts.

• Help people focus on issues they have never fully verbalized.

• Become their clients’ most trusted advisor.

• Believe they have a moral obligation to get their clients to work with them.

• Don’t wait for money to change hands before they start contributing to their clients’ betterment.

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MPI Module 1 – Developing Your Mindset

Ask yourself: In your business, in your life, in your critical necessity-based buying, in your indulgence-based
buying, in your vanity buying…don’t you really gravitate towards people who lead you? Towards people who
are empathetically authoritative? Consider the following:

• Successful companies see themselves as representing a refreshing, distinctive alternative to the mundane
and the unfulfilling norm. They don’t take the approach of trying to be mainstream because they believe
that being mainstream is a commodity. Mainstream is indistinctive. Mainstream has little value.

• Successful companies connect all the dots; give clients a plan; help them take the next step; protect them;
and make the next step appear logical, appropriate, obvious, and easy. They see, importantly, their ability
to put into words what people want but cannot articulate clearly, and then build on that for them.

• Successful companies feel hopefully about their clients. They embrace their clients’ situations with hope
and promise, just like my hope and wish for you is that you will get so much more out of everything you
do. You need to provide your clients with the reassurance and the motivation to use your solution.

• Until and unless you understand the higher purpose for your being in this business, you can’t begin to take
advantage of your potential. Your purpose cannot be simply to get rich, because if it is, you will never get
rich. Your purpose must be seeing what you can do and what you’ve done for others.

• Demonstrate to your clients that the logic and emotion of acting is far preferable to inaction — from their
benefit standpoint, not yours.

• If you can’t fall in love with your clients, you’re in the wrong business, you don’t appreciate your business,
or you don’t appreciate your worth. If you appreciate your clients, but your team doesn’t, you’ve got to fall
in love with your team and help them, lovingly but unflinchingly — and almost relentlessly — see how to
fall in love with the clients with you. It’s got to be a combined love affair.

• Most people think, “What do I have to say to get people to buy?” Instead you should say, “What do I have
to give? What benefit do I have to render?” It has nothing to do with sales shenanigans, trickery, or
schemes. My purpose for all of you is to teach you how to become value creators or value generators. The
more value you render for others, the more value you will generate, not for yourself, but for your clients.
The greater the contributions you make to the richness of their lives, the more successful you will become,
and the more bonded you will be to them and they to you.

• Most people think, “I need to know the elements of writing a good ad.” Instead, focus on the elements of
conceptualizing a good proposition, a good offer that’s externally focused and predicated on the value and
the benefit it has to others. If the concept is right, the copy can be terrible and it will still sell. If the
concept is wrong, the greatest copy in the world won’t work.

• If I do my job correctly for clients, they’ll end up arriving at a decision believing that some conclusions are
their own. That is my intended outcome because it’s much more powerful if they own it rather than me.

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MPI Module 1 – Developing Your Mindset

Directions: After viewing the entire Module 1 video presentation, please complete the exercise below.

Exercise: How Can You Apply the Advanced Strategy of Preeminence?


After reading the Advanced Strategy of Preeminence above, explain how you could apply aspects of it daily.
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MPI Module 1 – Developing Your Mindset

Appendix B – Topics Covered in the Q&A Audio Segment


Below are the key questions discussed in the “Participant Q&A Discussion” audio segment, toward the end
of the video presentation.

1. Kim has a question about why Jay and Spike are offering this particular program.

2. Lisa and Corlette both wonder whether the program is right for them, since the MPI material seems to be
aimed at people in a business. Lisa does not have, and doesn’t want to have, a “business” per se; however,
she does want to generate passive income.

3. Patricia shares her goals and aspirations about participation in the program.

4. Francis is an IT professional and a real estate investor with a heavy combined workload. He wonders how
he can efficiently pursue his passive income business interests without jeopardizing his “day jobs.”

5. Marco asks whether there will be an opportunity within the next 3–6 months to start generating passive
income.

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MPI Module 1 – Developing Your Mindset

Caveats and Disclaimers


We have made every effort to accurately represent this product and its potential, but there is no guarantee that
you will earn any money using the techniques and ideas in these materials. The examples in these materials are
not to be interpreted as a promise or guarantee of earnings. Earning potential is entirely dependent on the person
using our products, ideas, and techniques. We do not purport this to be a “get-rich scheme.”
Monetary and income results are based on many factors. We have no way of knowing how well you will do
because we do not know you, your background, your work ethic, or your business skills or practices. Therefore,
we do not guarantee or imply that you will get rich, do as well, or make any money at all. If you rely on our
figures, you must accept the risk of not doing as well.
Your level of success in attaining the results claimed in our materials depends on the time you devote to our
program, ideas, and techniques; and your finances, knowledge, and various skills. Since these factors differ
among individuals, we cannot guarantee your success or income level, nor are we responsible for your actions.
The Use of Forward-Looking Statements
Materials in our product and on our Web site may contain information that includes or is based upon forward-
looking statements within the meaning of the securities litigation reform act of 1995. Forward-looking statements
give our expectations or forecasts of future events. You can identify these statements by the fact that they do not
relate strictly to historical or current facts. They use words such as “expect,” “estimate,” “anticipate,” “project,”
“intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with a description of
potential earnings or financial performance.
Any and all forward-looking statements here or in any of our sales materials are intended to express our opinion
of earnings potential. Many factors will be important in determining your actual results. We make no guarantees,
express or implied, that you will achieve results similar to ours or anybody else’s. In fact, we make no guarantees
that you will achieve any results from the ideas and techniques in our material. Success in any job or business
opportunity is the result of hard work, time, and a variety of other factors.
Where we cite specific income figures and attribute them to an individual or a business, that person or business
has earned those amounts. However, there is no assurance that you will do as well. Any and all representations
or claims of income earnings are not to be considered average earnings. We make no assurances that any prior
successes or past results pertaining to income earnings will be an indication of your future success or results.

Do Your Own Due Diligence and Seek Professional Advice


All products and services our company offers are for educational and informational purposes only. We always
advise users of our products, services, and Web site to do their own due diligence when it comes to making
business decisions. Use caution and seek the advice of qualified professionals before making a decision to
purchase any of our products or services. Check with your accountant, lawyer, or professional advisor before
acting on this or any information. Your own qualified professionals should independently verify all information,
products, and services that we provide. Carefully evaluate our information, products, and services before reaching
a business decision regarding whether to rely on them. Our company is not responsible for the success or failure
of your business decisions relating to any information presented by our company, products, or services.

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