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The employee who feels secure by serving his master is delusional; the longer he works in his job, the less secure his income becomes, and the harder it gets to replace his income and his job and then to adjust to a new job (or two), since he is older, less in demand, has less energy, and is less flexible and teachable.

The business owner, likewise, becomes less secure and more at risk the more entrenched he becomes in his business and his industry, since it get harder to change and adjust, more expensive, and increasingly difficult to change industries.

We tend to increase our overhead and cost of living and risk along with our feelings of security, forgetting that the only thing we can be certain of is change.

The most logical way to build income with the least risk of losing it is to remember that the average millionaire has seven income sources. Diversity in income sources and systems lends security and utility, and this variety also provides us with clarity and objectivity; we’re in business, after all, to make the most possible profit as soon as possible with the least risk, time, and effort. When an income source plateaus or declines to an unacceptable level, we should always be able to end it and replace it with ease.

“Old money” is said to survive because of the “one third, one third, one third” principle: one third in real estate / property, one third in fine art, and one third in gold: Not all the proverbial eggs in one basket that is subject to the vicissitudes of life.

Smart entrepreneurs know how to leverage systems and other peoples’ money, time, expertise, energy, connections, and other resources. They appreciate the value of collaboration and win/win relationships. I have specialized in teaching this to small business owners around the world since 1987, and before that I utilized these principles in the hospitality industry, running hotels and restaurants, and in sales and distribution. The principles are universal.

 

And you can do this all from your desk at home, on a part time basis. It may sound complicated and expensive, but it really isn’t; anyone can afford to use these simple systems to create real wealth in a reasonably short amount of time if he is prepared to put the work into it. Ask me if you have any questions – I can help you set this up.

Robin Elliott    LeverageAdvantage.com

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