In this illustration, we note how nothing stays the same, and nothing lasts forever. After 28 years in business, working with tens of thousands of small business owners around the world, this theme has been consistent. As we grow older and gain business experience, we realize that we need to plan objectively for our financial futures.
Just as empires come and go, currencies come and go, fads and fashions come and go, and business models change and morph and are replaced, fail, improved upon, or become extinct. If this sounds pessimistic, when last did you see a video store or a flourishing business that makes wagon wheels?And so professional entrepreneurs must remain proactive if they are to survive the natural ups and downs of the business world.
Naturally, those with a vested interest in your continued contribution to their financial wellbeing will try to lock you in, shame you, tie you down, confuse, threaten, and manipulate you in any way they can to maintain your labour, but we need to remain clear headed and aware. Diverse income streams that are carefully monitored important just like the doctor who monitors the progress of his patients.
In this illustration, note how Income Stream A is reasonably constant in the time period depicted here, Income Stream B is declining, and the entrepreneur has wisely created Income Stream C to counteract that. While B goes down, she is building C. The average millionaire has SEVEN income streams. That’s not because they can’t focus; indeed, their focus is exactly where it should be: maximum (COMBINED) profit with the least risk and effort.
Ask me about your options.
Robin Elliott LeverageAdvantage.com