Multiple Streams Of Income – Foundations Of Success 16

What Are The Foundations Of Success?

     As we set off on this journey together, I will teach you the Foundations of Success and help walk you through a series of what I have come to understand, are the crucial foundations for becoming successful and gaining wealth. I have developed, over the last two years of study, research, and application, a full guide that has not only changed my life around, but if given the chance can also change your’s. I’ve labeled this highly valuable program the “Foundations Of Success,” because it contains what I believe to be the most crucial and foundational ideas, concepts, and principles that you absolutely need to understand and apply in order to truly achieve Success in your life.
Below is a summary of Foundation #3 “Personal Development.”
The Foundations Of Success course I’ve created is extensive in it’s value, simple in it’s approach, strategic in it’s knowledge, and easily accessible to you. All you have to do is follow a link and your life could change in an instant.
And I know that life is daunting, and change is hard, so should you desire to first get a taste of what the Foundations of Success are all about, I’ve created these short blog posts to give you some key insights into what you’ll learn in each Foundation of Success within the program.
Read to your heart’s content and follow each post to gain a preliminary understanding. This information alone can do wonders for your life. But should you choose to be serious about changing your life, improving your current situation, and beginning your journey on the path to riches, the full scope of the Foundations Of Success is always available to you here.

 

Multiple Streams Of Income – Foundations Of Success 16

16) Multiple Streams Of Income

The Road To Wealth is paved with multiple streams of income. On average, most millionaires have 7 streams of income.
What does this mean to have “Multiple Streams of Income?”
It means that instead of relying solely on your job, or one source for income, you build into your life projects, ventures, undertakings, and investments that all pay you simultaneously.
This act of building multiple income streams in your life frees you from the restrictions and burdens of a single pursuit and also allows you to learn, build, develop, and apply new skill in a variety of practices to better solidify and understand the principles that lead to success.

Three Types Of Income:
The three types of income streams that I want to focus on are: Passive, Active, and Investment.
Learn that Profits are better than Wages. Wages will earn you a living. Profits will earn you a fortune. If you can work full-time on your job, and part-time on your fortune, that’s exciting.
Wages come from trading your time for money. You’ve only got a limited amount of time, and therefore, on some level, your wages are capped at what you currently earn/hour.
Profits however, are unlimited. If you can learn how to make even a single dollar in profit, in any venture of your choosing, you can then scale that venture up and there is no limit to the amount of money you can make.
When you rely solely on your wages to make your fortune, you can wait it out for promotions, raises, and perks, but it’s a long long road. Much better to find a side passion that has the potential for profits and put your efforts into that while earning a steady income from your job. All it takes is a little extra hard work and creativity. And that’s what you’re learning to use by studying the Foundations Of Success.
Work full-time on your job and part-time on your fortune until you earn more from your part-time than you do your full-time.

Having multiple streams of income is crucial to financial success.
Not only will you have more income by creating new streams, but by creating new streams and trying new ventures, and learning to make them profitable before you move on to others, you will gain so much valuable knowledge that will only serve to propel you forward in all future and current projects.

The Average Millionaire has 7 sources of income. How many do you have? Don’t worry if you aren’t up to par just yet, but keep this in mind as you move forward through life. You should always be looking for new business opportunities to explore and profit from.
The key, however, is not to get stretched too thin, or to lose focus on the most important streams of income that will get you to your goals. Millionaires have also earned the right and the ability to have 7 or more different sources of income. They have learned to give enough focus and dedication to a new pursuit until it’s grown enough to levearage themselves and outsource to the process to either workers or VA’s (Virtual Assistants). This takes learning and practice. You should be in the midst of figuring out 1-3 businesses at all times, no more, no less. 1 will undoubtedly be your main focus, your ultimate definite purpose. And the others will serve to help you learn key principles to building a business, marketing, online marketing, ecommerce, etc… from different angles than your main pursuit.
After you have successfully built and automated any business, you will be that much more equipped to repeat the process with even greater success than the first time. You’ve paved the road for yourself, you understand the struggle and the process, and now you can repeat it more easily.

Conclusion:
The quickest route to wealth and success is to develop multiple streams of income for yourself. Passive streams are the best because you can set them up and automate them, and they will continue to earn you money day in and day out with very little future effort. However, it is fine to build multiple Active streams of income, as long as you can manage your time effectively. Investment Income is great as well, but this is where you should be putting your profits from your multiple streams. It’s a more long-term approach, and we, on the road to success, are concerned with building wealth here and now!
Wages are great, they will make you a living, but Profits will make you a Fortune. No matter what your career, work full-time on your job and part-time on your fortune.

Learn The Foundations Of Success

By this point I’m sure you’re intrigued and wondering what else there is to know that can help you live the life you have always desired.
If you’d like to go further in depth with this principle and others like it, and better understand it, I’ve prepared a program for you called The Foundations Of Success.
In it you will learn all of the fundamentals of “How To Become Successful,”  and what it takes to get Rich. Let the Foundations Of Success program assist you on your Road To Wealth.
Click Here To Begin Your Journey On The Path To Riches.
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