Multiple income sources book .. the most important sources of money making
Do you want multiple sources of income to raise approximately one hundred thousand dollars a year? Then read the book “Multiple Income Sources” by Robert J. Allen. The book that has made a difference in the lives of many, opened new horizons for them, and reaped them many profits in a reasonable record time. The advantage of this book and this writer is that he did not speak on the basis of written theories and opinions put forward, but based the codification of the book “Multiple Income Sources” on an entire life experience in how to achieve their independence and financial freedom.
Multiple sources of income are directed to all categories of investors with different investment destinations and different profitable companies, as it concerns all areas of the economy equally. If you are a good investor and are looking for a rich experience that opens your insight into the future and helps you to find your rugged investment path, we advise you to hasten to acquire this book.
In a simple overview of this valuable book, Robert J. Allen in his book identifies three main areas, which he described as mountains, which are divided into: the mountain of marketing, the mountain of investment, and the mountain of real estate, to explain in detail about each mountain that guides you to how to invest in each of these three mountains and in each area is a unit.
Passing through the mountain of marketing, it is closely based on the trade of information, technology and the Internet, as well as intangible assets to get the marketing of your idea without losses, to the other mountain that was called the mountain of investment, which mainly means investing stocks, bonds, options and other multiple financial vessels consciously And thoughtful, all the way to the mountain of real estate, which brings you abundant money as soon as you were able to climb it and reach its climax.
This book teaches you how to be able to open your sources of income while you are sitting at home, taking advantage of the Internet and social networking sites, whether you need workers or not, and directs you to the best ways to reduce the risks that you can face and address the obstacles that may hinder your path, and to optimal and better Ways to handle your money smartly in the financial markets.
Summary of multiple income sources book
Saving is the key to wealth
Wealth begins with saving, and you must do it regularly, no matter how small the amount you save, you must accustom yourself to life with less than what you earn and save the rest, and then think about how to invest it. Perseverance in saving and reducing expenses saves time and money that can be invested.
Here, the book presents seven critical skills that constitute the secrets of financial excellence, which are realizing the value of money, controlling it, saving it, investing it, collecting it, and the participation of others in it.
There are two sources of income: normal and extraordinary (passive income), so you get money according to the regular source in exchange for the effort you make, and the money stops when work stops, but the regular source gives stable income for a long time, and the strategy for developing income sources is based on converting sources of income from normal to abnormal.
In order to switch to unusual sources, you have three main sources, namely real estate, investments and marketing, and you need to enter real estate to find deals, finance and manage them, and in investment you need to define the field and enter and exit also at the right time, and in marketing you need to define the goal and how to lure it, and create Lifetime customers.
Investing in stocks is one of the most widespread entry points to earning income, and the basic principle that you should realize when entering this field is to give up the idea of outperforming the market.
You can win in the stock market if you stay for long because you reduce the risk, the market usually improves at the end of the matter, and you must remain able to continue and be patient and wait, but the main question here is which stocks should I buy?
You must choose and wait, and the sooner you buy, the richer it becomes, and the safest and simpler way to invest in the stock market is the index funds, and follow that market and its price trends, they tell you where to invest.
The market is always right, and it is clear that the overall long-term trend of the stock market is to the upside.
“Owning your own home is the first impregnable dam in your empire, and it is the greatest and most important investment in your life.”
The story of diamond lands tells the story of a farm whose owner wanted to sell it in order to search for diamonds, and a man bought it from him who noticed diamonds in it, and as for the seller, he spent his life in a futile search for diamonds, a story that expresses the state of wasting time, money and energy in endless programs to increase income while wealth They lie under our feet.
Real estate is like diamonds that we own and do not invest, because property values are constantly increasing, and it represents an unparalleled investment area in freedom of movement and power.
Owning your own home is the first impregnable dam in your empire, and it is the greatest and most important investment in your life, and the first step in real estate investment is to find someone eager to sell his property, those who do not want their properties represent 1% of the owners, and you must find them.
People who want to sell their real estate have reasons for this that can be seen, such as divorce, travel, taxes, debts, lack of investment feasibility, the property’s need for maintenance and renovation, dissolution of the partnership, and the search for a better home.
These people represent opportunities for the investor willing to buy, and these people can be known through newspaper ads, real estate agents, wandering around and near centers, personal relationships, private ads, colleagues and friends.
You need to negotiate with the owner, and you can be a skillful negotiator if you are friendly, fair and flexible. Both parties must feel that they have reached a fair settlement, and the house can be bought through the facilities and bets available in the banks, and then it can be rented, and this is a resource that helps pay installments This gives an opportunity without waste of waiting for the property’s value to increase in order to resell it.
The financial burden of buying bills and negotiations on commissions can be distributed, and the seller’s obligations may be paid to the creditors instead of paying him the full amount, and the credit card can provide opportunities to obtain cash with facilities that overcome the current financial difficulty.
The participation of others, of course, is an opportunity to obtain financing, and mortgaging the property provides an opportunity to obtain financing that can be used in various other investments.
Internet and investing
“The Internet provides opportunities for investment and marketing that change from previous perceptions of sources of income, and perhaps network marketing, information marketing and representation of companies via the Internet are among the most important advantages of the 21st century.”
Amazon represents one of the creative ideas and projects for investing on the Internet. The site’s owners launched the idea of partnering with the public, by providing a commission to everyone who markets a service for the site, and this approach has become one of the most important ideas and principles of online investment.
The Internet is characterized by easy communication, low costs of work, and no need for a place or office for work, and all that is needed is a computer connected to that network.
The World Wide Web launched what could be called the Home Work Revolution, and allowed a wide range of independence and a return to the stage of private work and the business community, as was the case before the Industrial Revolution.
Of course, this type of work makes you feel lonely and makes you lose the pleasure of sharing the work with others, but in the author’s opinion, you are okay with it because you can occupy yourself after the money that you will save because you did not mortgage your house.
Gone are the days when distributors needed to store products in their warehouse, deliver them themselves, or continue packing and shipping them, as all these actions are performed by the parent company, and all that is required of marketers is to create customers.
But in Internet marketing, you need to choose the right company, use the right marketing system, use the right management system, and in your choice of the company you must make sure of the standards of the products and services it provides, and the company’s management and system.
Of course, do not expect a quick response, the successful marketer is the one who gets a response at a rate of 1-2% from the list he contacts, and the greatest and most successful marketers get a rate of 5%, but it is enough to achieve wealth, and with time and experience you will develop your list of contacts to get the best customers and learn how Get to know them.
Bill Gates is a well-known proof that information and intellectual property are the real wealth in the new century. This publisher of information is the richest person in the world, but there are many examples of wealth-making from working in the information field, such as authoring and publishing.
There are millions of copies of books published in which the author does not have a single word. The book “Chicken Soup”, for example, collects a hundred stories that the author compiled from its owners and published, and life experiences and work experiences represent a source for authoring and publishing, and even failure cases are suitable for publication.
But you need to know what people need and are eager to get, so offer them the bait, make the taste irresistible, innovative, no matter how great your experiences are, they have no value in the market if no one is interested in them.
You must have substantial experience. If you have it, try to teach it to others. If you have good experience in the real estate market, for example, you can invest in teaching others this experience.
It can also use the fame that it has gained in marketing other products. For example, information publishers can carry out support work, such as printing, cassette and video production, press services, design and public speaking, information production, training, proofreading, editing, advertising, public relations, research, and web design.
Truly, this book created by Robert is one of the most valuable books written in this field, if not the most valuable one at all. If you become eager to acquire and buy it, we support this enthusiasm, and we invite you to hasten to acquire it and devour its letters, to begin the journey of inspiration after turning the papers of this the book.
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My 5 Sources of Passive Income That Make Me $35,000 Per Month
In this video, I’m going over my 5 sources of passive income that now generate around $35,000 of profit each month! As a serial entrepreneur, I’m always looking for ways to work less, but create more income. Over the past 5 or so years, I’ve slowly built these passive income streams.
I’m sharing them with you to give you ideas and inspiration for creating your own passive businesses! Make sure to watch all the way through, as I’ll show you how I built each income stream, and my tips for you to start your own. I want to show you guys that it IS possible to create wealth while getting creative, and doing things you love.
Here are my 5 current passive income streams:
1. My real estate investment property. I’ll talk about how we were able to build instant equity with this condo in Los Angeles, and how much positive cash flow it brings in today.
2. Affiliate marketing. I’ll go over what this is, and how to promote other businesses’ products and services can bring in a significant amount of monthly revenue.
3. Amazon FBA (private labeling). One of the most passive forms of e-commerce that exists today – I’ll show you what it is and give you an idea of how you can start your own e-commerce brand.
4. YouTube Adsense. Though not completely passive, it sure does feel like a passive income stream most deals. This is from creating ad revenue through my YouTube videos. I’ll also talk about how much money I make and compare it to my stats just half a year ago.
5. Stock portfolio. I invest in both index funds and individual companies, so the growth and dividend payouts from my investments give me a passive income stream. Right now, this makes me the least amount of money of all these income streams, but investing is one of the best things to do with your money.