To: The ReLaunch Guild and Friends
From: Gil Gerretsen, President
Date: June 21, 2017
Subject: How many separate revenue streams do you, or should you, have?
In the process of my lifelong study of successful entrepreneurs, I have discovered some interesting facts about entrepreneurs who became millionaires. First, there are a LOT more of them than I thought there would be. Research indicates that the world has over TEN MILLION millionaires.
But here’s an even more startling discovery. The average millionaire has SEVEN distinct streams of income. Donald Trump (before entering the White House) was estimated to have over 400 streams of revenue. Warren Buffett has about 2,500. Compare that to most people who have a job or a small business! Typically one or two!
Think about what you were taught in school. Did your parents and educators encourage you to find a good job? That’s how I was trained and counseled. But inventive entrepreneurs don’t think that way. They are wired to have other people work for them, or to leverage the talents of other people so those talents work for them.
Inventive entrepreneurs start with a completely different mindset, and I believe it is a mindset that almost anyone can adopt and apply. Rather than trading time for money (i.e. get a job), they leverage or multiply their time for money.
So, with this insight, set aside some time to look at your future plans and ponder what you might want to begin doing differently.