“Millionaires, on average, have 7 income streams.” You’ve heard this before….you have probably heard it often. Typically, this is used to get you to invest in some type of passive income business or opportunity that is new-age snake-oil.
Simply put, if you don’t have a 7-figure business that operates like a machine, it’s way too early to start another business.
Here’s what happens.
You start getting momentum in your business and you’re feeling good. You know what you’re doing…your confidence is at an all time high…and you have cash flow to spare.
Suddenly, there are opportunities everywhere.
Everyone has a business idea…a cool new partnership.
And, as human beings, what do we do?
We think about investing, with this super optimistic cap on, because we know what we’re doing now.
How hard could it really be?
We could spend a weekend here and there….minimal time, but big payout.
But in reality… if you go down that road, and now you’re splitting your time and resources.
Before you should. Because it will take more time than you think…it will take time away from your main focus. Your main business will suffer.
Yes, money gives you leverage. However, you need to focus on your main thing… your MAIN business until you have a fine-tuned machine. Focus has a compound effect. You need that focus in one area to cash in on the compound effect. When you’re under the illusion that you can do more than what’s possible, you lose focus… you lose leverage… you lose money.
Successful entrepreneurs know and understand this. They focus on one thing at the beginning. They put their time and energy into making that ONE thing run effortlessly. Once they can remove themselves as a business requirement, then, and only then, do they start looking at becoming an investor somewhere else.
Remember… if you have to HUSTLE to make a new opportunity work, the chances of it working alongside your main hustle are VERY low. Unless, of course, your main hustle is already a leveraged, profitable, and sustainable business.
You’ve discovered a lot so far, just don’t EVER forget.
FOCUS is what creates greatness.
Talk soon,
-Scott 😉