[ctt tweet=”The way to solve most of your problems is by generating extra cash.” coverup=”8C7LN”]
On Monday morning, you get a message from eBay indicating there is a new balance in your PayPal account. You check and see that while you were at South Beach in Miami over the weekend, more than $300.00 was deposited into your account.
On Tuesday, you receive a deposit from a client for $547.00, which is what he has been paying you for the last 8 months.
On Wednesday, you receive an email from Amazon indicating someone made a purchase of $277.00 and its time to ship the product.
On Thursday, your spouse comes home with her $1475.00 paycheck along with $480.00 cash from the weekly money pot they started 6 months ago with 12 people.
On Friday, you received $875.00 from your part-time job along with $1375.00 monthly from the VA.
Not a bad week…
This is how the big money is made by the richest such as 50 Cent, Magic Johnson, Oprah, Russell Simmons, Andrew Carnegie and Bill Gates. Direct ownership of a start-up business offers the greatest potential to build wealth.
Today, I want to talk about the second best way to make a fortune, a way that in some ways is easier and more practical. It’s also the primary way I have been able to survive financially over the years with or without a job.
I’m talking about developing multiple streams of income.
This is not a strategy to create billions like Andrew Carnegie and Bill Gates. They made there fortunes mainly by focusing on a single business.
If you went to a conference listening to them speak they would probably say you could get richer by focusing on a single wealth creating opportunity, as they did. And they would be right…if you were as fortunate as they were.
Most people aren’t in a position to create billion-dollar businesses. Are you? Most people are too old, too committed, too busy, and too poor. At least, that’s how some of them may feel.
To be honest, I can’t tell you how to do that. I can tell you only what I know how to do. And I survived in the heat of the storm over the past seven years by developing multiple streams of income.
If you are not ready to become the next Bill Gates, then keep reading…
My secret to creating multiple streams of income
Growing up I never had any ambitions of doing anything accept graduating from college and getting a good job. I didn’t have any interest in business and had no knowledge of how money works in our society. The financial path I ended up on was due to being desperate and by accident.
It wasn’t by design at all. I studied Computer Science in college and I don’t have a background in finances. I have been involved in dozens of business opportunities, however most of my money came from a select few of them.
I’ve been continuously developing extra income opportunities for over 10 years. I’ve tried dozens of things. More than half of them failed. My philosophy is to always start small and test the waters quickly. If I had a nice and fresh turnout, I move forward fast. If it started badly, I pulled out quickly.
I recommend that you take on the same philosophy. Find an opportunity that excites you and give it a quick but smart try. If it works, run with it. If it doesn’t, shut it down ASAP and move on to the next income opportunity.
6 Ways to Get Paid
This is the strategy I used to develop multiple streams of income sometimes without lifting a finger:
1. My income from Amazon
2. My income as a copywriter and web designer
3. My income from Ebay
4. My income from the weekly money pot
5. My income from my job
6. My network marketing company
And this doesn’t count the investments I made over the years that I have stashed away. It grows automatically once you get involved.
Advantages of Multiple Streams of Income
Last year, I earned an extra $15,677 outside of my job without having to go into the office, answering to a boss and without ever doing anything I didn’t want to do.
The truth is I made a decision to always have more than enough money or at least create the opportunity, because I got tired of just having enough. I got sick and tired of being sick and tired.
It’s much easier to get started creating multiple streams of income while being younger. I started in my early 30’s, however it’s still doable even if you have 10 years to retire. You must get started now.
The best thing you could EVER do to retire comfortable is to generate extra streams of income. You cannot reach financial independence through stock investing alone. You have to increase your income through different avenues and opportunities.
The Bigger the Better…
Before you know it, you will be working less with boatloads of cash. In fact, you will have extra time and money to start income No. 2, No. 3, No.4, etc. A millionaire told me years ago if you want to make the big money you have to be known for doing something really, really, well.
As a result, you will know more, have the right contacts and the opportunity to create cash flow. Each new income stream you create, you can leverage the cash flow and expertise of the previous to make the next one that much more powerful.
You Won’t Hear This Anywhere In the Mainstream Media…
You cannot achieve financial long-term success in fewer than 10 years by just investing in stocks. You won’t hear that from anywhere else. Heck, most millionaires I know don’t even put there money into the stock market.
In the mainstream media all they talk about is stock returns, 401K’s or some new trading scam. Another small group of people will probably tell you to save more money by paying less for coffee, food, cigarettes and cut back on your trips to the restaurants.
After a few months, another small group will tell you to go out and actually spend money during the holiday season to boost the economy.
Hypocrisy! Hypocrisy! Hypocrisy!
The way to solve most of your problems is by generating extra cash. Cash is KING! Others won’t tell you this because there is no benefit to them in saying it and most of them have no idea how to do it. However, I do that’s why I felt obligated to share it with you.
The good news is…you can get started right where you are today. Getting started is the only difficult part in the equation. Once you get started you will be on your way. Before you know it, the cash will be coming in automatically and increasing every month.
If you want more information and how to create extra income I would highly recommend you read The Reluctant Entrepreneur: Turning Dreams into Profits
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