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Friday, December 9, 2022

How To Create 7 Streams of Income for Passive Wealth | Entrepreneur

Must Read

There is a sustainable technique to develop seven revenue streams. Based on his personal experience, Samuel Leeds outlines how to turn those income streams into multi-million dollar businesses in this article. 

If you’ve recently read a lot about wealth, you’ve definitely heard that many billionaires have seven sources of income. Having a variety of sources of income is crucial, but it doesn’t imply the advice given on the issue is actually useful. Online, a lot of individuals advise you to launch several side projects at once. As a very successful real estate investor, I don’t advise using that strategy. You are better off, in my opinion, specializing and developing numerous supplemental revenue streams associated with your specialty. This enables you to establish your specialty, become well-known inside it, and prevents you from succumbing to shiny object syndrome, in which you jump from job to job.

  1. Develop a business strategy to create an active income
  2. Develop an investment strategy to create passive income
  3. Diversify based on your niche

Source:https://www.entrepreneur.com/growing-a-business/want-to-be-a-millionaire-here-are-3-ways-to-generate/436621



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