Did you know one of the main reasons people fail in business is because they depend on too few flows of income?
In this article, I wanna give you the rules and the steps to creating multiple streams of income!
Building financial freedom, a successful business, or even a great sales career all require multiple flows of income and opportunities!
I know people (myself included) who literally have hundreds of flows of income! In fact, it’s one of the crucial steps to ensuring you become a millionaire in your lifetime! So you need to have multiple streams for yourself, your family, and your company!
Now, there are
that your revenue flows can come from:
From the work that you do.
From some kind of symbiotic flow.
This could be income from something next to, or aligned with, what you’re already doing in your 40 hours per week. A great example is adding noticeable value at the position you’re in, and then asking for a bonus. Not a pay raise, but a bonus!
From some extra source, or investment in an activity outside of work.
Ok, so next up we have the
regarding multiple flows:
Never depend on one flow!
Never ever turn your back on the first flow!
The only time you would ever consider doing this is if the other flows are so strong that nothing can possibly destroy or erode them! But even then, I would still suggest you never ignore the primary stream, as it made all the other streams possible!
This is the number one mistake made by people seeking to create multiple flows of income. You gotta quit thinking you’re gonna get rich quick! Don’t just quit your job! You never want to walk away from the winning thing that got you that golden ticket!
If you do, that flow is gonna get smaller and smaller – and you might even end up with one flow again! Plus, you’ll know less about the second flow than you did about the first flow!
Your second flow should always be connected to the first flow!
It needs to somehow be similar or relevant to what you’re currently doing. This could be adding a second division to your company. For example, if you’re doing a burger company, you might wanna think about adding fries, not celery sticks, you know?
Your third flow should also be relevant, and it’s only on your fourth flow where you can think about your first move into something disconnected from the first three!
And now, my final
to getting more in life are:
Identify what you really want – your ideal situation. Write your goals down, and stay laser focused!
Identify what is in the way of you getting that – are there any things holding you back?
Remove those blocks! Whether it be family, friends, or bad habits!
And finally, number
Skill up! Add skill to your set as the final thing you do.
Now get out there and GROW!
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