Top Earner | LegalShield
Frank Mulcahy’s Millionaire Training Story
I first had the opportunity to meet Larry Thompson when I began my direct selling career with Herbalife in 1982. During those early years, I quickly related to Larry’s teachings and looked at him as a person who cared about others. I immediately looked at him as a mentor from afar. Many of his lessons and core philosophies helped me to go onto achieve unimaginable abundance over the next 38 years. The most significant thing that changed my life was a simple two-cassette tape set Larry had released called The Millionaire Training. I listened to those tapes so many times that I wore them out. One of those lessons, which I held within me but had never tested for 30 years, changed my life when I was at my lowest point.
The Millionaire Training was critical in helping me attain the massive success that I have today. I would like to share with you how Larry demonstrated the necessity of taking a sabbatical, even if it’s only one day, as in investment in your future accomplishments.
When I began at Herbalife, it was Larry’s simple duplicatable, repeatable process that allowed Lynne and I to earn over $18,000 a month. We used Larry’s guidance to build an incredible business that had distributors in Canada, Australia, England, and the USA. Still being new to the direct sales industry, I made a point to study The Millionaire Training by listening to the training over and over. It was at that point I was able to build an unshakeable core belief system, which later gave me the ability to weather the many storms that life would throw my way.
After three years of tremendous success, things changed drastically within 60 days. In early 1985, Herbalife and several other direct sales companies faced false accusations from the U.S. Food and Drug Administration and the resulting Senate hearings. These hearings caused significant damage to the Herbalife brand and the incredible work thousands of distributors were doing to bring health and income to our customers. A short time later, I decided it was time to leave the business when my monthly residual check had dropped off to only $800 per month.
Thankfully, I was able to use the life skills I learned from Larry to build several businesses over the next 15 years. Fate would have it that I would have the opportunity to work on several projects with Larry and his mentor, Bobby DePew. Later on, I also would have the good fortune to be introduced to legendary entrepreneur and motivational speaker, Jim Rohn. From these three men, I developed the set of skills that would become the tapestry of beliefs that form my philosophy in life. I wouldn’t fully realize the value of these lessons and how they would put me back on the track to “true residual wealth” until a critical time in my life 26 years later.
My lifelong goal had been to retire by age 50. In June 2001, I was able to make that dream a reality and retired on my 50th birthday. Lynne and I sold our business and moved back to New Hampshire to be with our children and grandchildren. We were able to purchase our 6,500 square-foot dream home on 26 wooded acres with a 7-acre private pond; it was simply beautiful.
It wasn’t long before I became bored with retirement, and I started buying investment properties. I planned to collect rent, change light bulbs, go fishing, and let the real estate create passive income and appreciate in value, allowing us to set up a legacy for our children. I was up to 57 rental units when the economy crashed along with the housing bubble in 2007. I lost almost $5.5 Million in assets, along with my pride, my dream home, and my inspiration. Thankfully, the incredible lessons I learned from The Millionaire Training tapes allowed me to create that Unshakeable Belief System. I am convinced that all the lessons I learned from Larry became my philosophy on life and business. I knew deep in my heart that I could succeed in any field as long as I didn’t quit. As Larry said to me once, “You have never not achieved your goal, unless you quit pursuing it.”
I never had any doubt that I would succeed again, especially in this great land we live in called the United States of America. As Larry always said, “They’re not building boats to go to Cuba.” I still believe that this is the most magnificent place to start your business and to achieve your goals.
It was then that I began searching for something special I could do, something[f1] that I could be proud of that would provide genuine value to the consumer. That’s when the Lord brought me to the company I work with now, LegalShield. Today, people see my success, and they probably think I had it easy. They may believe I had lots of connections, associations, and a vast database. I didn’t have that. What I had was a deep belief system that, in America, we can achieve whatever we set out to do.
It wasn’t easy to start over at age 57, broke and out of resources. Lynne and I had to give up our dream home and move back to Texas. I quickly realized that the job market for people over the age of 40 is challenging. We all know people who are looking for something to grab on to, something to believe in, something that can change the rest of their lives. I was hopeful this opportunity in employee benefits, identity theft training, and seminars would be the answer. My starting over was rough because of my debt at the time, and I was not 100% committed.
In my first 90 days, I made less than $1,900, so I thought about quitting until Lynne, my incredible wife, partner and best friend since 1980, said, “Frank, I have never known you to quit anything; so why quit now?” Wow, how lucky I was to have her support and unwavering love.
I was feeling lost and unsure of what to do next. It was during this darkest time in my life that I went back to the early journals that I kept from listening to The Millionaire Training tapes. In my notes, I found the simple strategy that involved taking a sabbatical and asking myself four powerful questions that needed answering with brutal honesty. I remember Larry’s words echoing, “Lie to your spouse, lie to your sponsor, but have the ability to tell yourself the truth.” Then I membered he also said in your darkest hours you need to get away and take a sabbatical if you want to develop a plan to succeed.
I set aside time for my day-long Sabbatical. I took a couple of yellow legal pads, found privacy, and had a real hard, serious talk with myself. I had to look at things the way they honestly were, and not how I wanted them to be. I did not want to put my head in the ground like an ostrich. I had to ask myself tough questions.
I focused on four questions Larry called, The Four Ifs.
Amazingly, I had that lesson within me for almost 26 years, but I had never needed to put it to the test before like I desperately needed to do that day. The Sabbatical is The One Thing That Changed Everything when my back was against the wall. I was able to create the blueprint I needed to succeed one more time.
Because I followed Larry’s methodology, in less than nine months, I was able to create a stable six-figure income. That income has now turned into a multiple six-figure residual income. It has also allowed me to create an income that I can pass on to my children and grandchildren.
I want to share this same process with you in the hope that it will benefit you or someone you know.
Question 1: What if I learn? What if I take the time to stop and learn about the opportunity I have in front of me?
I asked myself, What would happen if I developed a daily, weekly, monthly Method of Operation? What if I studied the leadership, products, compensation, mission statement, purpose, longevity, support system, and other competing brands? I evaluated everything in my life. What is and isn’t working? Who is helping me succeed, and who is holding me back? After a rigorous and careful study, I had the vision, and I knew with unwavering confidence that I had found the right company. The founder has outstanding character; the opportunity and compensation plan was incredible and simple like Herbalife’s plan. It had leadership with integrity, just like Larry Thompson and Mark Hughes had in my early years. They had a product of the highest quality, no competition, and not replicable. There was a high demand for the service, no inventory, no capital investment, the possibility of residual income, and to top it off, my initial investment was less than $200.
Question 2: What if I try? What if I put all my effort into the program? I’m not talking about a half-baked, lukewarm attempt. What if I implemented a daily, weekly, and monthly Method of Operation? If I applied it, how far could I stretch? How far could I take my talent? How far could I go if I shared this process with others?
I remember Jim Rohn said he was talking to some second graders one day. As he set up a two-foot bar, he asked them if they thought they could jump over it. Some said yes, others said no, and others didn’t know. Jim asked them, “Well, how do you know unless you try? If you knock it over, try a second run, and another, and another.”
Jim put a word with the word “try.” Try until. That one word has stuck with me since the first time I heard him say it. We don’t stop a baby from trying when they fall while learning how to walk. We just laugh and say, “Nice try. Try it again, and again.” Go out there. Talk to your associates, talk to your customers, and speak to your upline, but you keep trying, and you keep trying until.
Another critical lesson I learned from Larry, “The heavy chains of worry are always forged in idle hours.” In other words, if we get busy, become productive with our time and stick with it, the problems of life disappear. He also taught me the invaluable lesson of learning How to Employ Yourself. Larry taught us, “If you want to get rid of a bad habit, replace it with a good habit.”
Question 3: What if I stay? What if I stay committed for 1,000 days?
Now, 1,000 days may sound like a big commitment, but when you’re talking about your life, your career, your retirement, 1,000 days is a small fraction of time.You accomplish this by breaking it into segments. You utilize the first 90 days to establish momentum, the next 90 days to advance momentum, and the 90 days following that to maintain your momentum. Repeat it again and again until you get the results you desire.
Question 4: What if I care?
Larry said, “If you care a little, you can get some results. If you care enough, you can get incredible results.” That’s the posture my wife and I take to the marketplace. We care more about the results the customers get from our products than the money we make selling them. We care more about the success of the associates we bring into this business than the money we make from those associates. I will share with you that if you develop that same philosophy, that same pride, where you can go out there and care, you can have incredible success as well.
These four questions gave me a crystal-clear path to follow, but these four questions were just the beginning.
After being in LegalShield for nine months, the founder, Harold Stonecipher, called me and said, “You and Lynne have an incredible story people need to hear.” I immediately asked him why he felt that way?
He said, “When you lost everything, you were down for the count, yet you stood tall, you looked life in the eye, you took charge, and changed your life without complaining. You just simply went to work and did it. That is an incredible lesson for others.”
Mr. Stonecipher then asked me if I could do him a small favor. I said, “Of course, what would you like me to do?”
He said, “I would like you to speak for 30 minutes and share your story with 17,000 people at our annual convention.” At that time, I had never spoken to more than 100 at any event, now 17,000 people? They brought in all the big money earners, the board of directors, 200 attorneys, and put them in the first 30 rows. It was a scary assignment for me because I was never on the big stage before.
I didn’t realize you cannot look up at the spotlights in the rafters. They will temporarily blind you, and your notes become a blank sheet of paper. I started speaking, never once looking at my notes. It was difficult telling the world that I lost millions, I lost my home, I went bankrupt. But then I shared how it was just a little setback. The magic was that I had built this Unshakeable Belief System off of Larry’s teachings. I had the chance to share some the most valuable lessons I ever learned from Larry.
First, I spoke about The Five Major Ingredients that go into the day that turns your life around. Second, I shared The Seven Deadly Diseases of Attitude and how they will reduce you to a beggar overnight. That belief system allowed me to address 17,000 with a message from my heart, it was my philosophy.
Larry always taught that if it is in your heart, you will be able to deliver the message. That experience was the foundation of my becoming the international speaker I am today and I now have spoken in 29 countries to over a million people.
It was the most incredible and humbling experience I have ever had because so many of those folks were able to relate to my journey. After I spoke that day, I had 650 to 700 people approach me and ask to either take a photo, sign their book, or just talk to them for a moment. They all took away different nuggets from my 30-minute talk. But they were not my nuggets. They were the invaluable lessons I learned from that original set of The Millionaire Training tapes. I was able to share with them that no matter how bleak things look, it will work itself out if you have faith in your skills, company, products, and marketplace.
The most incredible part was that even though I touched their hearts, the audience did more for me in return. They reaffirmed 650 to 700 times that my belief system was right on track; that helping and serving others will always benefit us in the end.
I want to let others know that the journey I took is duplicatable. It’s a repeatable, proven process that can put anybody onto a fast track of success no matter what they do in life, whether they are interested in my opportunity or something else.
A quote from Helen Keller says it best, “Sometimes, the most beautiful things in the world cannot be seen or heard but can only be felt in the heart.” That’s what Larry and Taylor Thompson mean to Lynne and me. That’s what our business means to my wife and me.
I wish you the best, find your dream, take a Sabbatical, and ask yourself, The Four Ifs.
Larry, thank you again for pouring so much into so many, I am honored and blessed to call you a friend. I will be forever grateful.