Why You NEED Multiple Sources of Passive / Residual Income

Ever stayed awake at night worrying that you might lose your job or be passed over for promotion? Every seen changes in technology or competition or other events beyond your control cripple or hurt your business? Ever worried that you might lose your star salesperson or get sued by an employee? Every cursed the seasonal vicissitudes in your business or wished you were in another business? Ever wanted to hire a hit man to remove your competition that was forcing prices down? Ever lived in the real world?

What happens if you have all your income eggs in one proverbial basket and you drop that basket, or, worse still, someone steals it? If you’re selling your time and you get ill, break a leg, or want to go on holiday, what happens to your income? Do you wish you could just stop working and relax for a week or two, but you can’t afford to let go of the reins in your business? Is your overhead so high that you work for 24 days of the month just to cover costs? Do you worry about fires, floods, holidays and political changes, outsourcing and immigrant labor affecting your income?

Multiple sources of passive / residual income from different geographic and demographic areas and from different industries removes this worry, especially if all your income is 100% profit and you carry no overhead, employees, risk or cost of sales. Joint Ventures allow you to benefit from multiple other business and their infrastructures simultaneously. No more feast-or-famine, chicken-or-feathers seasonality, because different sources offset one another. With your overhead removed, you need far less to survive, and you don’t have to carry inventory or support employees. By spreading your risk, you increase your peace of mind and limit your exposure, while at the same time optimizing your income opportunities. You can create more value if you can offer more products and services. And JV’s allow you to spend very little time in setting up the deals.

You need multiple sources of income because in our ever-changing and very dynamic world, where new technology and a constantly shifting socio-political landscape means that change is the only constant, there is no security in being locked in to any one income source. A Joint Venture Broker has the freedom to continually create new cash cows and to build more and more tollbooths on the bridges he builds between supply and demand. Employees work IN tollbooths, while JV brokers OWN the tollbooths. When one income source dries up or disappears, there are many more to take its place. When currencies fluctuate, they are offset by income form other geographic areas. Nothing and nobody is indispensable, so nobody can control, coerce, or manipulate you. You are truly your own boss when you’re a JV Broker. You answer only to yourself. You can create ultimate financial freedom.

Robin J. Elliott www.DollarMakers.com