Legend
(in parenthesis) – my thoughts
Italics – questions for Bud and his colleague
Regular – notes from the CD
Notes
Greg Duncan – Introduces himself as a leader of an industry (what industry?)
He’s an independent business owner (what's his business?)
Quote - "wealthy people have access to better information" (like what? Example? Does he ever
disclose what this information is?)
What understanding of this "better information" do you have?
(when was this recorded? The label says 2012)
Financial Stability is the theme
Talks about industries being taken over by technology
Quote - "Stability will demand flexibility"
Quote - "You can control the future if you don't cling to the past"
Quote - “what kind of life can you lead by making money?” He uses this as a way to frame goalsetting
Goal: changing your mindset. Be honest with yourself.
What personal "honest" discoveries have you made?
Goal: get control of your own life.
In the time you've been involved, how has your sense of control changed?
Technology empowers the individual, puts wealth within your grasp. Only thing that matters: are
you ambitious? It's all up to you...
He says money "can change generations of your family"
(This makes me think of how Dave Ramsey says "change your family tree"…although Dave
Ramsey takes it beyond just money and includes things like stability, generosity, leaving a
legacy the family will be proud to follow, etc.)
He asks, if you have 2 million dollars what would you do with it? Now what if you only had 5
years to live? What would you do with your life? If you say you would change your life, it means
you're not doing anything you wish you were doing.
(interesting implication he draws here, but I think it’s rhetorical. If you gave anybody a lot of
anything and said they would die in 2 years, their life would change. Heck, if you gave anybody
nothing and said they would die in 2 years their life would change. And saying ‘you’re not doing
anything you wish you were doing’ sounds kind of extreme)
What would you do with 2 million dollars?
We all have 2 lives - life we live and the unlived life within us (makes me think of Stephen
Covey...who has a whole different approach on this concept)
Quote - "Do things because they're right not because they're comfortable."
What uncomfortable things have you gone through?
What about your approach feels right?
What about my situation made you want to reach out to me?
Talks about his take on education and the way he did it for his kids. He makes sure to mention
all the traveling they did to build appeal for his message. He "bought" a school, which was really
at his own home and he hired two teachers, and again mentions traveling the world a lot.
Quote - "you'll learn to navigate the world when you pursue a passion"
(not sure if I agree with this)
How to prioritize: What's the most important things to do in the next 2 years. Do them, then stop
when you run out of time. You'll get the most important things done first.
What are your priorities for the next 2 years?
He asks, why do you do what you do to make a living? Mentions that pursuing an income is
what you'll do most in life, and uses this to talk about how much work sucks.
(sounds like he’s trying to equate money as the purpose of life, don’t agree with that)
Why do you do what you do to make a living?
He thinks you should pick jobs that pay the most money in the shortest amount of time.
Uses shoveling horse manure as an example, he’d do it if it paid enough. Wants to gain status
from what he gets from working, not from what he does as work.
(I take it he means money and material possessions)
Talks about how people define themselves by their occupation. Uses this to describe all the fun
things he does, around the world…again
Quote - "define your life in how you live, not on your occupation"
Mentions that people who obsess about what other people do can't afford to live in the places
they live in.
(Sounds like he's in Canada)
Talks about being prepared to start over if you don't like what you're doing.
Goal setting: write out the lifestyle you'd like to have 2, 5, 10 years from now.
What lifestyle would you like to have at each interval?
What kind of plans do you have?
What steps will you take?
Sacrifice for the short term to have something good in the long term.
What sacrifices are you making?
How has it changed your lifestyle and income?
Talks about how helping people costs a lot of money. Then talks about how he's able to fund
multiple problems. Spins how money can solve all problems because money frees up time to
handle all the non-money problems.
Questions if you'd do what you do again...or if you'd recommend it to your kids. So then, why
are you still doing it? If willing to work 8 hours for somebody else, would you be willing to work 2
hours for your own business?
Are you two separate IBOs?
How much time do you put into your business?
Talks about "jumping off the ladder" means drastically doing something different
Talks about worrying about what others think as an anchor to not pursuing something
(I agree with that)
He asks, if your job stopped paying you would you stop showing up? Uses this to show how
people work for money not because they "love" their job...or uses how people leave "good" jobs
because they make more money doing something else.
Mentions that no job is secure because there's always a chance of being laid off.
(on the opposite side, no business is secure because people might not buy your stuff)
Predicts that in the near future more than half of people will work for themselves.
(I recently heard that the majority of businesses are small business with 500 or fewer
employees)
Questions how much money do you make after all expenses and uses this to show how working
a job will leave you broke. You only make what is left over.
(would you be broke because of the job or because you spend more than you make?)
Since you've been following this plan, how has your "left over" changed?
Talks about "life beyond survival" - as a way to prepare for a rainy day because catastrophes
happen.
How well prepared are you for a catastrophe?
Do you have money saved up?
How much?
Learn how to invest your time...not spend your time.
(example?)
What's your take on this?
Talks about an ideal occupation. He would rather be home, but has to leave to work and make
money, it's a catch 22. We work to provide for the family so we leave home all the time because
we love them most.
Says we need to change the concept of employment, staying in the status quo is insanity.
(why?)
Mentions Robert Kiyosaki, the Rich Dad guy. Says network marketing is a solution, and an
effective way to transition people into a business. Get paid for efforts done jointly together. If
others make a lot, you make a little, so the point is to help a lot of people succeed so you get a
lot of littles.
His example of traditional business – a business makes $2800 profit, employee did all the work
so why does the owner keep the majority of the profit? In network marketing, the guy at the
bottom can earn the most
(it's a great draw isn't it)
(I wonder how they reacted to this scenario of an employee getting the small portion of profit. I
take this to mean Greg Duncan’s target audience is low-earning workers who don't understand
the big picture of business, and people who don’t understand that an employee's wage is an
agreement between the employee and employer. It’s completely separate from profit. Makes me
think of Dave Ramsey's rant about the fast food strike, your pay is based on the skills and value
you provide.)
You succeed by making others succeed first
(Stephen Covey idea again).
Focuses on the awesome lifestyle people in Network Marketing have, it's better than everybody
else. Calls out Amway as largest direct-selling business in the world. Has a large inventory of
products, everyday products, calls it "anyway money" because people are going to buy these
things anyway so Amway will offer it.
Jobs make you trade hours for dollars. Takes away time to focus on the important things in life.
Lack of money drives people's decisions.
Have you experienced a difference in your decision making since joining?
Money is like air, when there's lots of it you don't have to think about it. When it's restricted it's
what you think about all the time. Purpose of having abundant money is so you don't have to
think about it.
What do you believe is the purpose of money?
Do you agree with this or do you believe in something else?
Associate yourself with a mentor and training group.
Talks about using the internet "correctly" by ignoring the criticisms made against Amway
because there is negativity everywhere about everything online...so ignore it. Uses “Mother
Teresa is bad” as an example.
(why would he be telling people to ignore what others say about Amway? Why not call it out and
dispel it as myth instead?)
How long will you wait to live the life you want and deserve?
(Interesting word choice with "deserve"...what makes somebody deserve success? Feels like
he’s trying to invoke a feeling of entitlement. I think success is something earned)
(Haven't heard anything about living debt-free)
(What's the plan to follow?)
(Sounds very male-dominant, only head male voices in the crowd)
(Haven't heard anything about personal finance)
What do you do that aligns with what Greg Duncan talks about?