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Wednesday, April 24, 2013

M.I.T. Dictionary

MITTSFIT - Millionaires In Training Through Successful Futuristic Intellectual Thinking - a change in ones mindset to hold his or her future and time at the highest regard

SRI - Sustainable Recurrining Income - an income source that is built once and continues to payout longer than the time it took to build it

SSI - Social Security Income or Supplemental Security Income - government ran residual income source

Residual Income - income derived from previous work completed that continues to pay you

Season - a set period of time that you focus and really work towards your goals (ie 90 days, 6 months, 1 year)

Biz - shortened term for business but referring to a network marketing or online based business versus a traditional business

MSI - MSI is an acronym for Multiple Streams of Income, developing multiple ways to get paid or have money flowing through different avenues

Network Marketing - Network Marketing is a profession of people of like minds coming together for a common goal that earns an income thru the sharing of products and services

Affiliate Marketing - The sharing of profits from a company for products or services sold to an Affiliate who referred the person purchasing said product or service 

Why - Compelling reasons to pursue your goals that push you thru any obstacles

Compensation Plan - The structure in which a company pays its distributors 

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