First, consider Play #1 from the Income Reengineering Initiative:
Play #1: We build an online system or network where people can interact and collaborate professionally on business projects part time online (i.e. outside of the bounds of traditional employment as noted in Income Reengineering Principle). Every one can participate part time as an entrepreneur, independent contractor or independent consultant. People work within their field of expertise, career field or field of professional interest, no marketing or selling required. Just show up for work online. By participating, people earn immediate income while building ownership equity and residual income through co-ownership relationships.
This online system is called the Income Reengineering Business Development Network (IRBDN). It’s a membership based organization consisting of a constantly expanding network of:
- Professionals; and
- Average workers
who want to help advance the Income Reengineering Initiative. IRBDN functions as an online corporation or virtual corporation staffed with supporting entrepreneurs, professionals and average workers who work part time over the internet.
- Regardless of day job, all members support IRBDN part time over the internet as entrepreneurs, independent contractors or consultants;
- People work within their area of expertise, career field or area of professional interest
All online staffers earn productivity and ownership based income. There are no wage or salary based positions.
This brings us to the IRBDN Operational Mission Statement:
To put in place the business models and resources necessary to create the following online work environment from ground up:
- An online work environment where people work online part time within their career field, area of expertise or area of professional interest for a co-owned enterprise;
- While working online part time, people earn immediate income and build wealth by owning a significant percentage of the co-owned enterprise they work for; and
- People own this percentage without having to invest a dime. All people have to do is submit a resume, position themselves professionally within the enterprise and show up for work online part time.
What are co-owned enterprises?
What if you and 10 other part time or moonlighting entrepreneurs met after work in an online garage to map out a team business plan. Each of you agreed to work part time and perform a specific function to support the plan and each of you agreed to share and benefit from co-ownership of the resulting enterprise.
To carryout the IRBDN Operational Mission, the Income Reengineering Business Development Network (IRBDN) works like a massive business incubator designed to nurture, crowdfund and spin off thousands upon thousands of these co-owned business enterprises that are 100% owned by all participating entrepreneurs who work part time online for the enterprises. This is how we bring Play #1 to life where people can work online part time for one of these co-owned enterprises and build ownership equity and residual income wealth.
While working online part time, people position themselves as:
- Independent consultants;
- Independent contractors; and/or
working within their career field or area of professional interest. NO traditional employees or hourly wage/ salary based compensation.
As independent consultants, contractors and entrepreneurs, people earn three (3) income streams:
- Productivity Based Compensation;
- Ownership Equity; and
- Residual Income Equity Benefits
Let’s take a look at each one:
- Productivity Based Compensation:
- This is a negotiated fee for the professional service people provide to the enterprise;
- People get paid each time they produce a value for the company. It could be daily pay, weekly pay or whatever;
- The beauty here is that people have real time control over their pay. They are not limited to a pre-determined hourly wage or salary. So, if people want to get a raise, all they have to do is increase their productivity and they will receive that raise immediately through productivity based compensation.
- Ownership Equity:
- This is where people build long term wealth. People share in the profits of the company while they work there. Enterprises are 100% owned by originating entrepreneurs and workers, no outside investors. This increases the value of each employee ownership share;
- Once people decide to leave, people will have to “cash out” their ownership share so that the company can maintain 100% ownership among active employees;
- Once cashed out, people can reinvest and buy ownership shares in their new co-owned enterprise similar to selling one house and buying another one.
- Residual Income Equity Benefits:
- People earn a percentage of revenue each time a product or service is sold by the enterprise;
- The percentage is paid whether people work as an accountant, engineer, project manager, administrative support or whatever;
- When people leave a company, people will continue to receive a percentage of the revenue for a negotiated period of time similar to how movie actors earn income each time a rerun of a previous movie project plays;
- This percentage is paid immediately each time a company sell a product or service whether sales are made daily, weekly or whatever. It doesn’t matter whether the product or service is sold over the internet, over a retail counter or whatever;
- The bottom line: This links worker income to real time revenue produced by the enterprise
In fact, the income producing and wealth build power of Productivity Based Compensation, Ownership Equity and Residual Income Equity Benefits make Play #3 possible.
So, in summary:
- Just as Mark Zuckerberg built Facebook;
- You and other members of the Income Reengineering Business Development Network (IRBDN) will work together online to run the business incubator and crowdfund, staff and launch countless of these co-owned enterprises; and
- Once built, anyone with an internet connection will be able to work online part time within their career field and build wealth through the ownership equity and residual income equity benefit compensation models.
All business development activity starts online and then grows and expands according to a four (4) stage business plan:
- Prelaunch to Stage I (Early Introduction);
- Stage I (Early Growth and Development);
- Stage II (Building the Foundation);
- Stage III (Main Operations);
- Stage IV (Corporate Integration)
It all starts with crowdfunding:
What is Crowdfunding: The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet. Source: Forbes
Again, the focus is on a large number of people supporting one single objective. In this case, the large number of people are people who want to support the Income Reengineering Mission and Vision, most being members the Income Reengineering Business Development Network (IRBDN) looking to benefit financially sometime in the future.
Therefore, as we grow and expand IRBDN stage by stage, we raise millions to support and crowdfund the formation of brand new co-owned enterprises that will hire people to work online part time within their career field and earn income and build wealth via the productivity based compensation, ownership equity and residual income equity benefits as outlined by the Income Reengineering mission.
Each stage has it’s own unique and specialized crowdfunding solution required to advanced operations:
- Prelaunch: Prelaunch, No Crowdfunding;
- Stage I: Empower the Crowd First Crowdfunding System (ECFCS) Plus Generic Crowdfunding;
- Stage II: Gradual Entrepreneurial Allocated Resource System (G.E.A.R.S);
- Stage III: The Virtual Income Machines (virtual wages, virtual dividends, virtual bonds, virtual stocks);
- Stage IV: Mainstreaming of the Virtual Income Machines
When you consider the big picture, Stage III crowdfunding resources serve as the financial foundation for the new workplace compensation model noted in the Income Reengineering Vision
In fact, once the Virtual Income Machines crowdfunding solutions come online in Stage III, people will no longer need Play #1 thru Play #5 to earn part time income and build-up savings. They will be able to:
- Write a resume and secure a full time position in a co-owned enterprise;
- With that position they will be able to secure crowdfunding dollars to paydown bills, build up savings and build a comfortable financial foundation prior to working full time for a co-owned enterprise.
Then the Income Reengineering Vision becomes a reality in Stage IV as shown.
In fact, in Stage IV, IRBDN operations will strategically involve companies and corporations as they seek to use the IRBDN system to maximize corporate profits and financially empower their workforce.
In summary, we can boil IRBDN General operations down to the following summary statement:
The objective of IRBDN members is to use the Income Reengineering Initiative, IRBDN business plan and the associated business models to create so much economic value, business and entrepreneurial opportunities to the point where working for a mere wage or salary becomes as obsolete as the horse and buggy is to transportation. This is how we ultimately reach the Income Reengineering Vision
This brings us back to the notion of economic research. Economic research comes into play as IRBDN management and members work together to continuously field test, tweak, update, modify and add to operations as required to continuously increase the economic value and entrepreneurial opportunities necessary to advance operations stage by stage.
To continue on, review IRBDN Entrepreneurial Incubators.