Generating Multiple Streams of Income
The Tim Stodz Podcast
English - August 31, 2023 13:42 - 13 minutes - 12.4 MB - ★★★★ - 25 ratingsBusiness Society & Culture business entrepreneurship entrepreneur marketing sales startups software saas founders productivity Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this video, I discuss the importance of creating multiple streams of income to generate wealth and avoid continuously working. I share a valuable business lesson about the difference between assets and liabilities, as defined by Guy Kiyosaki. By understanding this distinction, we can make better financial decisions and accumulate wealth. I also explain the concept of cash flow and how starting a service-based business, like an agency, can be a great way to generate cash flow and eventually buy assets. If you're interested in learning more about starting an agency, I recommend checking out agencyclarity.com.
00:00 Introduction
01:04 Life-changing Lesson
03:12 Understanding Assets and Liabilities
04:32 The Cash Flow of a Poor Person
05:18 The Cash Flow of a Middle-Class Person
07:21 The Cash Flow of a Rich Person
09:42 Getting to the Point of Buying Assets
11:48 Recommendation: Start a Service Business