What I Learned About Wealth From The Bee-Gees by David Ledoux

Do you remember the Bee-Gees?

You know, Maurice, Robin, Moe and Curly, the Brothers Gibb?

Classic disco hits?

John Travolta dancing up a storm in Saturday Night Fever? Brown clothes with big collars, big platform shoes, high screeching voices and monster album sales?

I was 10 years old when I first found the Bee-Gee's. Disco was at its peak, and my babysitter always cranked the tunes and danced with me and my 2 little brothers. I thought the Bee-Gee's were amazing.

But what I didn't know was that this was a re-invention of the Bee-Gees. They had risen to fame, stardom and success in the sixties. I had no idea.

Many years later, long after the death of their brother Andy, I saw an interesting television interview with them. They talked about a concept they call "FIRST FAMOUS".

In the sixties when they first made it big, they thought the gravy train would run forever. They bought castles and mansions, hot cars, clothes, and spent the money like it was endless. The trouble was, it ended. They waxed philosophically about how painful it was to run out of money, to no longer be hot, loved and adored, and to basically start over. That's what they called being "First Famous."

They were so grateful to hit that second wave nearly a decade later with the disco phenomenon. Seasoned and experienced, they managed their money and were set for life after a relatively short run during the 4 years of disco and 2 hot albums.

Their little brother Andy wasn't so lucky. He didn't learn to manage himself from his brother's mistakes. He was too young during their first run of success. Being "First Famous" cost him his life.

There are a ton of parallels to the Bee-Gees concept of "First Famous" and network marketing. I would dare say that at least 10 of the Top 20 income earners in any MLM company are 90 days away from bankruptcy, just like they were when they first came into the business. Most top earners are making big money for the first time in their lives. Most lack the skills and education to manage it, and to make it work for them. They are "First Famous".

It's so sad to see people making $400,000 a year stumble, have their income drop to $250,000 and watch them liquidate motor homes, Corvettes, cottages and rented lifestyles. It's even more gruesome when the money train stops for good. Getting back on top in the MLM business is hard work. You rarely see repeat performances.

But ask any top earner that lost it once. I guarantee they are a lot smarter with their money the second time around. That's one of the great lessons of being "First Famous". You learn the difference between leasing a nice Mercedes and owning an income property. You understand the difference between buying a Rolex on your credit card and having a nice balanced bond portfolio. It's a sign of experience and maturity.

Here's a final thought. No one can do it for you. If you hope to learn from others being "First Famous" or your own mistakes, only YOU can take responsibility for self-education. Your money is counting on you!

I appreciate you.

David Ledoux