1 00:00:00.120 --> 00:00:03.090 Oz Konar: Hey everyone, Oz Konar here. In this video, I'm going 2 00:00:03.090 --> 00:00:06.570 to talk to you about what's wrong with the concept of 3 00:00:06.810 --> 00:00:10.620 multiple streams of income. I'm sure you've heard this phrase 4 00:00:10.620 --> 00:00:15.660 before, you got to have multiple streams of income to grow and to 5 00:00:15.660 --> 00:00:18.750 be wealthy and to make a lot of money, you can't just rely on 6 00:00:18.750 --> 00:00:21.600 one source of income. And we're going to dispel some of the 7 00:00:21.600 --> 00:00:25.260 myths about this concept. And why honestly, it's keeping a lot 8 00:00:25.260 --> 00:00:29.940 of people broke. And, of course, more importantly, how to fix the 9 00:00:29.940 --> 00:00:33.510 understanding around multiple streams of income. So you know, 10 00:00:33.510 --> 00:00:38.460 actually how to make it work to your advantage. So getting 11 00:00:38.460 --> 00:00:42.630 started, let's talk about the definition of this by textbook 12 00:00:42.630 --> 00:00:47.040 definition, multiple streams of income, pretty much, you know, 13 00:00:47.040 --> 00:00:51.150 you make all the money that you need to make when you're laying 14 00:00:51.150 --> 00:00:55.350 by the beach with your laptop, and money just rolls in through 15 00:00:55.560 --> 00:00:59.640 passive income sources or money from all over the place from 16 00:00:59.640 --> 00:01:02.910 other sources. And you have to do little to no work, right, 17 00:01:02.910 --> 00:01:06.180 that's like the extreme, you know, too good to be true 18 00:01:06.180 --> 00:01:11.610 example of multiple streams of income, the more moderate 19 00:01:12.060 --> 00:01:16.320 definition of that is that, hey, you have probably have a job or 20 00:01:16.320 --> 00:01:19.950 your primary source of income, you need to have something else 21 00:01:19.980 --> 00:01:24.780 or more sources of income, not just one, but multiple to fall 22 00:01:24.780 --> 00:01:28.260 back to in case something happens to that main stream of 23 00:01:28.290 --> 00:01:31.650 income. So a lot of people believe that and they suggest 24 00:01:31.650 --> 00:01:33.960 that you have different businesses going different 25 00:01:33.960 --> 00:01:37.500 opportunities. Well, that's a problematic definition, almost 26 00:01:37.500 --> 00:01:41.670 like a mutated definition of the real thing, the belief that if 27 00:01:41.670 --> 00:01:44.790 you look at this graph here, and this is a time and money graph, 28 00:01:45.000 --> 00:01:50.610 as time goes by, your income will go up. That's a very 29 00:01:50.640 --> 00:01:54.360 generous assumption, very optimistic assumption. But it 30 00:01:54.360 --> 00:01:57.420 rarely works. That way. I'm going to explain to you why that 31 00:01:57.420 --> 00:02:01.320 is the case. So you believe in this graph to keep going up 32 00:02:01.320 --> 00:02:06.450 enough as you add more revenue sources, and the most common 33 00:02:06.450 --> 00:02:10.590 ones is the passive income. So cold real estate, right? Buy 34 00:02:10.590 --> 00:02:13.830 some real estate, and the rental income will be passive, you 35 00:02:13.830 --> 00:02:17.430 won't have to work any more hours in your life. That's one 36 00:02:17.430 --> 00:02:21.390 thing. The other could be the stock market, or cryptocurrency 37 00:02:21.390 --> 00:02:26.820 or like an online business, or it could be it could be another 38 00:02:26.820 --> 00:02:30.510 type of real estate, it could be Amazon store and whatnot. So it 39 00:02:30.510 --> 00:02:35.100 goes on and on and on, right. But the problem with this model, 40 00:02:35.100 --> 00:02:39.090 the main problem is all of this requires some level of 41 00:02:39.120 --> 00:02:44.760 expertise, you can't just start things and somehow magically 42 00:02:44.760 --> 00:02:48.780 have them give you the income that you need. So there are a 43 00:02:48.780 --> 00:02:52.260 couple of obvious problems with this one. The first one is, 44 00:02:52.410 --> 00:02:56.430 you're just assuming that all of them will make you money. But 45 00:02:56.460 --> 00:03:00.600 one thing we know about money is that requires expertise in a 46 00:03:00.600 --> 00:03:04.410 certain area for you to make a lot of money. And if you look at 47 00:03:04.410 --> 00:03:08.370 historically and all the public figures, they're like business 48 00:03:08.400 --> 00:03:13.740 magnates of people, initially, they were experts in one area 49 00:03:13.800 --> 00:03:17.070 only. They built their expertise, they went really, 50 00:03:17.070 --> 00:03:21.120 really deep, and became the world class at the thing that 51 00:03:21.120 --> 00:03:25.890 accumulated a lot of wealth. Then they started diversifying, 52 00:03:26.070 --> 00:03:29.490 not when they were broke, and they just wanted to spread their 53 00:03:29.490 --> 00:03:32.910 time really thin. Because when you're broke, you have 54 00:03:32.940 --> 00:03:36.870 limitations. One limitation is the financial limitation. The 55 00:03:36.870 --> 00:03:40.350 second limitation is probably you have time restraints and 56 00:03:40.350 --> 00:03:42.870 limitations, right? Because you don't have enough money and you 57 00:03:43.020 --> 00:03:45.930 you're probably working really hard at that job or something 58 00:03:45.930 --> 00:03:48.900 else. So you have very little limited time to yourself. And 59 00:03:48.900 --> 00:03:51.540 the limitations on the mindset. You just don't know how to think 60 00:03:51.540 --> 00:03:55.050 like an wealthy person, you don't have the resources you 61 00:03:55.050 --> 00:03:58.140 don't have you don't know the people that would be influencing 62 00:03:58.140 --> 00:04:00.690 your decision, you're not following the right people. So 63 00:04:00.690 --> 00:04:03.720 when you have those limitations, then on top of that, you're 64 00:04:03.720 --> 00:04:07.500 spreading those limited resources, resources across 10 65 00:04:07.500 --> 00:04:11.550 different things, five, six doesn't really matter areas that 66 00:04:11.550 --> 00:04:14.700 you don't really have any expertise on. So you're not 67 00:04:14.700 --> 00:04:19.380 really going deep, you're going as wide as possible. One thing 68 00:04:19.380 --> 00:04:23.370 we know about the Marketplace market in general market pays 69 00:04:23.370 --> 00:04:29.610 you if you become a specialist, think about your general MD 70 00:04:29.790 --> 00:04:33.930 versus your heart surgeon, your heart surgeon usually makes four 71 00:04:33.930 --> 00:04:38.280 to five times more money than your general general practice, 72 00:04:38.280 --> 00:04:42.180 Doctor. Same thing with your general family dentists versus 73 00:04:42.180 --> 00:04:45.360 an endodontist and some other specialty dentist that just 74 00:04:45.360 --> 00:04:49.350 works the same way in business as well. Look, look at people 75 00:04:49.350 --> 00:04:53.010 around you that that are shown as role models in business and 76 00:04:53.010 --> 00:04:55.740 look how they started their business, right? Look at Jeff 77 00:04:55.740 --> 00:05:00.090 Bezos. He started out selling books online. Then once he 78 00:05:00.090 --> 00:05:03.270 started, once he became the king, and that he started adding 79 00:05:03.270 --> 00:05:08.820 more complexity within the same realm, within still online 80 00:05:08.820 --> 00:05:13.530 marketplace, right, so that's exactly how wealth is built, you 81 00:05:13.530 --> 00:05:18.000 focus on one thing, which is the another circle, right? There's 82 00:05:18.000 --> 00:05:22.080 another circle that shows you how the rich people do it, they 83 00:05:22.650 --> 00:05:27.090 give their time, if you look at the growth chart of Apple, 84 00:05:27.300 --> 00:05:32.340 Amazon Tesla and any company, it starts kind of slow as if 85 00:05:32.340 --> 00:05:36.030 nothing is happening. And then it skyrockets. 86 00:05:36.330 --> 00:05:42.030 That doesn't mean they have 100 sources of streams of income, 87 00:05:42.030 --> 00:05:45.930 different shapes, or mechanics, usually one business model, that 88 00:05:45.930 --> 00:05:51.990 they skyrocket because they go really deep, versus these really 89 00:05:52.740 --> 00:05:59.220 slim arrows here. You're staying at the surface level, and you're 90 00:05:59.220 --> 00:06:02.460 gonna get paid at the surface level is definitely not a good 91 00:06:02.460 --> 00:06:08.160 idea. There is no way and this, let's say this is Amazon, right. 92 00:06:09.180 --> 00:06:18.090 And this is one of your sources of income, selling books. This 93 00:06:18.090 --> 00:06:23.370 is Amazon, back then. And you're your own little Amazon. But 94 00:06:23.370 --> 00:06:26.820 you're not focused on this alone, you're focused on all the 95 00:06:26.820 --> 00:06:31.890 other things. Whereas Jeff Bezos is going all the way in this 96 00:06:31.920 --> 00:06:36.750 industry for total domination, your chances of competing with 97 00:06:36.750 --> 00:06:42.030 Amazon or Jeff Bezos, even back in the day is slim to none. 98 00:06:42.210 --> 00:06:45.600 Because when you think about it, your attention will this was 99 00:06:45.600 --> 00:06:49.950 your attention span, or the time that you have this is t, right. 100 00:06:50.100 --> 00:06:54.210 So you have certain amount of time per day. And some of that 101 00:06:54.210 --> 00:06:56.970 time has already taken away from you, if you're sleeping eight 102 00:06:56.970 --> 00:07:01.110 hours, well the eight hours is gone, if you already have a job, 103 00:07:01.110 --> 00:07:04.620 and what's your commute time, if that's 10 hours, that's pretty 104 00:07:04.620 --> 00:07:12.300 much 18 hours. That's your job, sleep. So the big bulk of the 105 00:07:12.300 --> 00:07:19.500 time already, that's changed jobs of sleep is already gone. 106 00:07:19.560 --> 00:07:23.580 So if it is 18 hours of the day is gone, you only have six hours 107 00:07:23.580 --> 00:07:28.440 left to you, six hours, and you know, probably two hours of that 108 00:07:28.440 --> 00:07:33.090 will be spent with eating food and spending time like taking 109 00:07:33.090 --> 00:07:38.220 care of your necessities, then you're down to four hours. The 110 00:07:38.220 --> 00:07:42.930 problem with how most people use those four hours is that they 111 00:07:42.930 --> 00:07:49.920 take that and split it across different things. So you have no 112 00:07:49.920 --> 00:07:56.250 focus at all. You spend this time on four or five different 113 00:07:56.250 --> 00:08:00.330 things, and thinking that you're building multiple streams of 114 00:08:00.330 --> 00:08:06.690 income, and we barely spent an hour a day on the very thing 115 00:08:06.900 --> 00:08:10.200 that supposedly will give you will save your future and will 116 00:08:10.200 --> 00:08:13.710 build your wealth, you're only giving that important. So just 117 00:08:13.710 --> 00:08:17.310 one hour a day and expecting it to generate income at some 118 00:08:17.310 --> 00:08:20.460 point, right? That's the problem. And I've learned this 119 00:08:20.460 --> 00:08:26.550 the hard way because I bought into this reality, myself, when 120 00:08:26.550 --> 00:08:30.180 I was totally broke. I always had this mentality of following 121 00:08:30.390 --> 00:08:33.810 wealthy people and trying to understand how they got to where 122 00:08:33.810 --> 00:08:37.890 they got to right. And I read biographies. And one of the ones 123 00:08:37.890 --> 00:08:41.460 that I admired was the biography of Sir Richard Branson. It's a 124 00:08:41.460 --> 00:08:46.410 British business magnate who owns 400 businesses. And that 125 00:08:46.410 --> 00:08:50.160 was like a lightbulb moment for me. And I said, wow, if if this 126 00:08:50.160 --> 00:08:54.120 guy, own 400 businesses, and that's how he built his wealth, 127 00:08:54.300 --> 00:08:56.850 then I should do the same thing. There's nothing wrong with me 128 00:08:56.850 --> 00:08:59.670 owning multiple businesses. At the time, I didn't know any new 129 00:08:59.670 --> 00:09:03.030 businesses, I just had a full one full time job. Then I looked 130 00:09:03.030 --> 00:09:07.020 at another role model, which is Tony Robbins, back then he had I 131 00:09:07.020 --> 00:09:09.990 think, 13 or 14 different businesses. Now he has a lot 132 00:09:09.990 --> 00:09:13.320 more. But that's I'm talking about, like, a decade ago. And I 133 00:09:13.320 --> 00:09:16.590 said, Well, it's just kind of, you know, it's like a self 134 00:09:16.590 --> 00:09:20.220 fulfilling prophecy. I look at these two and say, alright I 135 00:09:20.250 --> 00:09:21.060 prove my point. I 136 00:09:21.060 --> 00:09:24.000 think I have a valid argument here that I gotta have more 137 00:09:24.000 --> 00:09:27.030 businesses. So I go start one that started like a marketing 138 00:09:27.030 --> 00:09:29.820 agency. Then I started another one with a friend of mine. And 139 00:09:29.820 --> 00:09:32.430 we provide coaching services to small businesses. I started a 140 00:09:32.430 --> 00:09:36.060 third one, which is totally different with another partner. 141 00:09:36.180 --> 00:09:39.720 We're manufacturing mini campers and trailers, which is like 142 00:09:39.750 --> 00:09:42.660 totally different than anything. And the fourth one is a real 143 00:09:42.660 --> 00:09:45.900 estate investment firm buying rental properties, like I'm 144 00:09:45.900 --> 00:09:49.200 following this exact model, only to find out that I'm putting in 145 00:09:49.200 --> 00:09:53.760 more than 80, 90 hours a week. I am still not making money, and 146 00:09:53.760 --> 00:09:57.210 I'm very miserable because I'm spreading what I don't have 147 00:09:57.240 --> 00:10:01.440 right so I don't have the money. I don't have the time, I don't 148 00:10:01.440 --> 00:10:05.940 have the mental resources, the mindset of a business owner, and 149 00:10:05.940 --> 00:10:10.830 I totally misunderstood how like someone like Tony Robbins or Sir 150 00:10:10.830 --> 00:10:14.790 Richard Branson, Branson got rich totally missed the concept 151 00:10:14.910 --> 00:10:18.630 based on like a glimpse on what I thought I caught, and it kind 152 00:10:18.630 --> 00:10:22.560 of broke me down. And I always have mentors, like one of my 153 00:10:22.560 --> 00:10:25.680 mentors, when I kind of open up to him, I said, I can't take 154 00:10:25.680 --> 00:10:28.650 this anymore, like this model is not working. He said, let's do 155 00:10:28.650 --> 00:10:31.800 this, why don't you take a piece of paper, and you know, split it 156 00:10:31.800 --> 00:10:35.850 in four, and put each of the companies name. And below that 157 00:10:35.880 --> 00:10:39.510 just put down how many hours you're spending on each company. 158 00:10:39.690 --> 00:10:42.780 And all the way at the end, like just make a list of all the 159 00:10:42.780 --> 00:10:45.630 tasks that you're doing for each company. And all the way at the 160 00:10:45.630 --> 00:10:50.340 end, put $1 amount that that company is bringing you. When I 161 00:10:50.340 --> 00:10:53.190 did that it was like him day and night difference. So what I 162 00:10:53.190 --> 00:10:56.700 thought I was doing versus the reality, three of the companies 163 00:10:56.700 --> 00:11:00.600 were not making any money to me, while they were consuming the 164 00:11:00.600 --> 00:11:04.740 most amount of time, only one company that I don't really even 165 00:11:04.770 --> 00:11:09.330 spend a lot of time on building was allowing me to generate 166 00:11:09.360 --> 00:11:12.360 income generously while I was putting the least amount of 167 00:11:12.360 --> 00:11:15.870 time. So that was a wake up call for me because that was a 168 00:11:15.930 --> 00:11:19.380 paradigm shift for me because I believe in this model. And I 169 00:11:19.380 --> 00:11:21.990 said I'll make it successful because all my role models make 170 00:11:21.990 --> 00:11:25.020 it successful, right. But that was a problem. So then I got rid 171 00:11:25.020 --> 00:11:27.990 of literally within three months, I got rid of all the 172 00:11:27.990 --> 00:11:33.930 other three businesses left but one. And within two years, going 173 00:11:33.930 --> 00:11:37.740 deep into it, we made our first million, right like two years 174 00:11:37.740 --> 00:11:40.950 into it, we're looking at this business spending time into into 175 00:11:40.950 --> 00:11:45.360 it, but it was just too spread out. That's the problem. Like I 176 00:11:45.360 --> 00:11:49.470 wanted to dispel some myths about the multiple streams of 177 00:11:49.470 --> 00:11:52.740 income, because it's been touted as like the best way to build 178 00:11:52.770 --> 00:11:57.150 wealth, it's really not the case, when you do not have any 179 00:11:57.150 --> 00:12:00.450 streams of income, any solid streams of income. 180 00:12:00.450 --> 00:12:05.280 So the best thing you can do you should do is pick one area and 181 00:12:05.310 --> 00:12:09.840 get become the best at it. That's the only way to build 182 00:12:09.930 --> 00:12:14.100 real wealth. Because a lot of times what people a lot of 183 00:12:14.100 --> 00:12:17.970 people who have the bright shiny object syndrome, they hide 184 00:12:17.970 --> 00:12:22.020 behind this concept of multiple streams of income. And I was one 185 00:12:22.020 --> 00:12:24.450 of them, all right you ask them, they say well, I'm an 186 00:12:24.450 --> 00:12:27.030 entrepreneur, I own multiple companies, I own multiple 187 00:12:27.030 --> 00:12:30.450 businesses, all because you know, on each business I want to 188 00:12:30.450 --> 00:12:33.210 generate I'm generating certain amount of income. So it gives me 189 00:12:33.210 --> 00:12:36.240 the financial security, it gives me the financial blanket. And 190 00:12:36.240 --> 00:12:39.300 even when I'm not working, it's building wealth. That's another 191 00:12:39.300 --> 00:12:43.410 way of saying I have this bright shiny object syndrome, that when 192 00:12:43.410 --> 00:12:46.800 things get hard, I switch businesses and jump onto the 193 00:12:46.800 --> 00:12:50.490 next shiny thing. That's exactly what happens, right? How many of 194 00:12:50.490 --> 00:12:53.730 you bought some workout machine that was supposed to give you 195 00:12:54.090 --> 00:12:58.380 the six pack or make you lose weight. But when the going got 196 00:12:58.380 --> 00:13:01.680 tough like that you actually had to wake up every morning and 197 00:13:01.680 --> 00:13:04.740 spend half an hour on that machine. What happened, you stop 198 00:13:04.740 --> 00:13:07.920 using it until you found a new machine that's supposed to be 199 00:13:07.920 --> 00:13:11.250 solving all your problems, and you got that one. And you know a 200 00:13:11.250 --> 00:13:14.040 lot of people end up with a home gym that they're not really 201 00:13:14.040 --> 00:13:17.070 using. And they're not looking great, because they're not 202 00:13:17.070 --> 00:13:19.950 utilizing what they paid for. This is the same thing. Like we 203 00:13:19.950 --> 00:13:23.340 got to face the reality. Most people who believe who bind to 204 00:13:23.340 --> 00:13:27.060 this model, they just they just jumped one from one thing to 205 00:13:27.060 --> 00:13:31.200 another, because they cannot deal with the reality of you 206 00:13:31.200 --> 00:13:33.990 doing the hard work, you got to do the hard work to grow a 207 00:13:33.990 --> 00:13:39.300 business, right? So does this does this make this entire model 208 00:13:39.300 --> 00:13:43.020 obsolete? Absolutely not, multiple streams of income is a 209 00:13:43.020 --> 00:13:46.110 reality, you got to take advantage of when you take 210 00:13:46.110 --> 00:13:49.620 advantage of it. When you have this one thing working. And it's 211 00:13:49.620 --> 00:13:52.950 bringing you income, it's bringing you massive income. And 212 00:13:52.950 --> 00:13:56.670 you're building wealth through this right. So this thing, if I 213 00:13:56.670 --> 00:14:01.650 can, right, is building income and building a lot of it. So 214 00:14:01.650 --> 00:14:06.180 you're building cash reserves. At that point, the good thing is 215 00:14:06.180 --> 00:14:09.510 for you to look at other business models that can be for 216 00:14:09.510 --> 00:14:12.540 example, buying real estate properties and have them bring 217 00:14:12.540 --> 00:14:17.070 you residual income or monthly income by other businesses start 218 00:14:17.070 --> 00:14:20.490 another business. But even then, when you look at the wealthy, 219 00:14:20.610 --> 00:14:24.150 they don't do it that way. Right. They create multiple 220 00:14:24.150 --> 00:14:28.590 streams of income within this realm that they have expertise 221 00:14:28.590 --> 00:14:32.520 on. And they look at the subcategories of this. So it's 222 00:14:32.520 --> 00:14:37.830 not totally separate. This model is wrong. It is within the 223 00:14:37.830 --> 00:14:41.910 industry that they're in, they look at different areas where 224 00:14:41.910 --> 00:14:46.680 they can generate money, generate more revenue, right? So 225 00:14:46.740 --> 00:14:51.750 they become they get better and better at what they do. Okay, so 226 00:14:51.750 --> 00:14:54.210 we can still look at the Amazon model. We still have the 227 00:14:54.270 --> 00:14:58.560 amazon.com but the become everything store right? And it's 228 00:14:58.560 --> 00:15:02.250 still hidden. Go ahead To start a real estate company, he stayed 229 00:15:02.250 --> 00:15:05.400 within that model, he just added more products grew the company. 230 00:15:05.760 --> 00:15:09.240 That's why it's really important to understand which definition 231 00:15:09.300 --> 00:15:13.470 of multiple streams of income you are following. Because 232 00:15:13.470 --> 00:15:16.260 you're following the wrong one, it's not going to lead you to 233 00:15:16.260 --> 00:15:20.070 anywhere, it's going to eat up your resources. So for example, 234 00:15:20.100 --> 00:15:23.580 for those of you who know what I do, we train people on how to 235 00:15:23.580 --> 00:15:27.210 become business loan brokers, where you can generate six, 236 00:15:27.210 --> 00:15:31.350 seven figure income. So it's not just some generic platform where 237 00:15:31.350 --> 00:15:35.880 you make money online, it's very specific, that allows you to go 238 00:15:35.880 --> 00:15:40.440 deep, which pretty much you're helping people, businesses get 239 00:15:40.440 --> 00:15:41.820 access to funding. 240 00:15:41.940 --> 00:15:45.667 But within that platform, you have access to multiple products 241 00:15:45.727 --> 00:15:49.215 from like, providing personal loans, providing real estate 242 00:15:49.275 --> 00:15:52.702 based loans, if you have investors who are looking to get 243 00:15:52.762 --> 00:15:56.250 funding for their real estate projects, you'll learn about 244 00:15:56.310 --> 00:16:00.218 that credit based loans and, you know, for businesses impacted by 245 00:16:00.278 --> 00:16:03.705 what's going on, if they're impacted by the pandemic, you 246 00:16:03.766 --> 00:16:07.493 have pandemic based loans. So anyone who's not getting funding 247 00:16:07.554 --> 00:16:11.402 through a traditional banks, we have 10, plus products that they 248 00:16:11.462 --> 00:16:14.829 can use, each one of them gives you the option to create 249 00:16:14.889 --> 00:16:18.497 multiple streams of income, while you're going deep into the 250 00:16:18.557 --> 00:16:22.465 same industry. So you can create a mastery, that's the difference 251 00:16:22.525 --> 00:16:25.832 within becoming a generalist trying to be everything to 252 00:16:25.892 --> 00:16:29.440 everybody, like, you know, jack of all trades and master of 253 00:16:29.500 --> 00:16:32.927 none, right? The good old saying, versus choosing an area 254 00:16:32.987 --> 00:16:36.835 becoming an expert in that area. And digging, going going deeper 255 00:16:36.896 --> 00:16:40.804 and deeper into it. But multiple products, it's like looking at a 256 00:16:40.864 --> 00:16:44.712 very strong tree, or you look at the roots of a 20 year old tree 257 00:16:44.772 --> 00:16:48.380 big are really, really wide. But they all come from the same 258 00:16:48.440 --> 00:16:52.048 base, right? This is the same thing. So hopefully this makes 259 00:16:52.108 --> 00:16:55.595 sense. This is the only model that's going to allow you to 260 00:16:55.655 --> 00:16:59.143 take take advantage of this graph right here. As time goes 261 00:16:59.203 --> 00:17:02.690 by your expertise will get deeper and deeper, you're going 262 00:17:02.750 --> 00:17:06.418 to grow your client base, and you're going to make a lot more 263 00:17:06.478 --> 00:17:09.785 money. If I look at my community, I see people who just 264 00:17:09.845 --> 00:17:12.912 give themselves into the industry always make money 265 00:17:12.972 --> 00:17:16.639 faster. And higher amounts. And longevity is key, right? They 266 00:17:16.700 --> 00:17:20.127 have repeat income coming through. Whereas if somebody is 267 00:17:20.187 --> 00:17:23.795 starting this business today, and they jump, they want to go 268 00:17:23.855 --> 00:17:27.402 try some I don't know like ecommerce business, they want to 269 00:17:27.462 --> 00:17:30.829 look at no money down real estate business, they want to 270 00:17:30.890 --> 00:17:34.437 sign up to 10 other courses and trainings, their chances of 271 00:17:34.497 --> 00:17:38.165 being successful is very low. And don't forget that this is a 272 00:17:38.225 --> 00:17:41.412 self fulfilling prophecy. There's this whole feedback 273 00:17:41.472 --> 00:17:45.019 mechanism. When you fail at something, your mind, your mind 274 00:17:45.080 --> 00:17:48.928 gives you the feedback that oh, this is not really working. When 275 00:17:48.988 --> 00:17:52.475 you're starting something new. That feedback kind of stays 276 00:17:52.535 --> 00:17:56.383 there kind of you know, reminds you Oh, the last thing you tried 277 00:17:56.444 --> 00:17:59.991 didn't work. And then if you repeat this same process, this 278 00:18:00.051 --> 00:18:03.839 vicious cycle, then you fail at that one too, then now you have 279 00:18:03.899 --> 00:18:07.567 a pattern and in your mind you say you say to yoursel, well I 280 00:18:07.627 --> 00:18:11.475 tried all the business, you know trainings out there, I tried to 281 00:18:11.535 --> 00:18:15.083 set up so many businesses and none of them work. Really, do 282 00:18:15.143 --> 00:18:18.931 you buy that yourself, you know that that's really not the case 283 00:18:18.991 --> 00:18:22.719 you haven't given your all to it. I want to be a little blonde 284 00:18:22.779 --> 00:18:26.687 here because it's really, really important when you look at these 285 00:18:26.748 --> 00:18:30.115 models don't hide behind the veil of multiple streams of 286 00:18:30.175 --> 00:18:33.602 income. While your problem is the bright shiny object you 287 00:18:33.662 --> 00:18:37.330 can't you kind of quick when things get tough. So if you want 288 00:18:37.390 --> 00:18:40.877 to really see if you're serious about quitting your job or 289 00:18:40.938 --> 00:18:44.365 building a real business, well you got to have the mental 290 00:18:44.425 --> 00:18:48.273 toughness to stay with one thing and grow that thing to the sky. 291 00:18:48.333 --> 00:18:51.881 Hopefully this was helpful so if you like videos like this, 292 00:18:51.941 --> 00:18:55.428 please like and subscribe and comment below the video. And 293 00:18:55.488 --> 00:18:59.216 also in the description I put a link to a free training on how 294 00:18:59.276 --> 00:19:02.944 to build a business like this as a business loan broker, when 295 00:19:03.004 --> 00:19:06.491 it's you know, you can totally check it out. It's about an 296 00:19:06.552 --> 00:19:10.279 hour. So give yourself plenty of time for you to decide if you 297 00:19:10.340 --> 00:19:13.586 want to be a part of this lucrative industry. Alright, 298 00:19:13.647 --> 00:19:15.030 take care now. Bye bye.