The most successful people use multiple flows of income to create financial freedom. Warren Buffet doesn’t have one investment or even one company. He depends on many. Successful salespeople should never depend on one appointment, a few customers or just one product line. I talk about this extensively in The 10X Rule which, by the way, just this week, hit the top 10 list of books to read on Listly.
People fail in finance and in business because they depend on too few flows. A guy works his whole life depending on one salary and never creates other flows until too late in his life. People also fail in business for the very same reason – not enough flows to ensure success in business. This is when you become too dependent on one or two product lines or too few customers. Salespeople fail because they only have one appointment and limited number of ancillary products to sell to their customers.
The most common mistake made when creating multiple flows of income is walking away from the current one.
Building financial freedom, a successful business or a great sales career all require multiple flows of income and opportunities. Before you quit your job and join a multi-level marketing company there are a few things you need to know.
The most common mistake made when creating multiple flows of income is walking away from the current one. The next most common mistake is moving to secondary flows of money or customers that are NOT similar to the first.
Never turn your back on the primary flows until the latter flows are so strong that nothing can possibly destroy or erode them. The same thing holds true when growing your customer base – never turn your back on your main customers.
When I was 25 years old, I was a successful automobile salesperson that wanted to increase my income flows. I got involved with a multi-level marketing company and failed at it because it required me to shift attention from my main job that was paying my bills. It’s hard to show up for the multi-level meeting at 7pm when I had a customer that wanted to buy a car at the same time.
The solution was to move to similar products or flows similar to the main thing I was already doing. I started to learn about other products that I could add to a car purchase and/or sell to people who weren’t interested in buying a new car but in enhancing their existing one.
Create multiple flows to ensure your success and when expanding, start with things that are similar. If you want more appointments to show up, then don’t depend on one appointment but back them up three deep all at the same time. This will create a new problem when they all show up on time. It’s always better to have too many appointments.
The Rules for creating multiple flows:
- Never depend on one flow.
- Never turn your back on the main flow you have.
- When moving to multiple flows go similar first.
I’m working on a full article on creating multiple flows of income. For more information on this, call my office.
Be great! Nothing else pays.