Creating Alternative

Streams of Income
The Key to Winning Every Race .
We can experience incredible result in any endeavor we
undertake, and any goal we pursue. Studying the lives
of many of historys successful people, I observed that
every one of them achieved what they set their mind at
by utilizing one simple yet powerful skill diligence.

DILLIGENCE
This skill is key to achieving the impossible. It is
what Thomas Edison, Sam Walton, Warren Buffet,
Bill Gates, J.Paul Getty, John D Rockefeller, etc.,
employed to achieve what they became as
individuals. The skill is diligence. Diligence simply
put, is a persistent and smart working effort
towards something. King Solomons definition of
diligence is quite different as seen in the book of
Proverbs 20:11

The Myth of Multiple Streams

of Income
It is very possible to build multiple streams of
passive income, but people approach this entirely
in a wrong way when starting out .
The very first error comes with the term Passive
which means alternative; it is very seductive
when people hear it. It is equated to easy flow of
money, no brainer, etc. To solve this, I choose
to use the word residual. It means there must be
work done upfront before you get to reap the
result afterwards.

 The second biggest error is the word multiple.

This throws a lot of people off the track from the
beginning. They try to think of many ways to
build passive income. It is great in theory, but it
doesnt work in reality for most people.
Build one strong stream of residual income first
then leverage on that to build multiple streams of
residual income.

 Leverage is a powerful and effective word when

discussing wealth creation .
You cant gain leverage by diffusing power among
many things.

Secrets of Creating Residual

Income
Prosperous people practice seven financial secrets
when creating residual income. The secrets are in
reality skills essential money skills that guarantee
flow of wealth...multiple streams of increasing
prosperityWOULDNT THAT BE NICE?

S
H
A
R
SHIEL
E
D
MAKE
INVEST
SAVE
CONTROL
VALUE

VALUE IT
Knowing the future value of every lost or squandered
Naira. Below are what I call Rockefeller Lesson of
Value:
a)Necessity of Work: When you earn it you
value it
b)The Importance of Charity: Give away the
first 10%
c)The Need for Saving: Pay yourself the next
10 %
d)The power of Accountability: Account for
every Kobo

CONTROL IT
To gain control, set up a simple system for organizing
your financial life. Plug up the leaks and block the
drains. Turn on the faucets. This is the Bathtub theory
of Economics
To plug up the leaks :
Pay your silent partner 10%
Pay yourself the next 10%
Pay your tax

MAKE IT

Armed with knowledge, reproduce what you have

invested.
Compound the Seed investment, using the Rule of
72

SAVE IT
The key to Financial Planning is cash flow
management
Get the faucet on, get the cash to flow
into your bathtub
Manage the leak
Two meanings to the word save:
a)Payless for your purchases
b)Create Surplus

INVEST IT
One thing that keeps many people from
achieving success is the fear of the unknown
. Knowing where and how to invest is key to
making the right investment decision . Risk
is essentially the glue that binds us to the
possibility of success . Seek knowledge and
Get Understanding
Take a Shot at Investing

SHIELD IT

To Shield your investment, be an Entrepreneur.

An Entrepreneur is the one who undertakes
innovations with finance and business acumen in an
effort to transform innovations into economic
goods.

SHARE IT

This is your investment in people the impact you will

make as a result of the implant you have made. It
comes through employment generation, philanthropic
activities, and giving back to the society in diverse
means .
If you dont Value it, you wont make an effort to control
it; if you cant control it, you wont be able to save it; if
you cant save it there wont be surplus to invest; if you
dont understand investment, youll be a less effective
Entrepreneur; If you cant reproduce the investment,
then you wont have anything to shield; and if you cant
shield it, you wont have anything to Share.

CONCLUSION

Dont settle for instant gratification like Esau did by

selling his birthright to Jacob. He couldnt bear the
pain of hunger for a short moment. Not every
financial issues requires begging;
Approach financial issues like an Entrepreneur
Think outside the box
See every problem as an opportunity because as a
matter of fact, they are opportunities
Have an eagle eye for opportunities and you will
soar like an eagle
Above and before all, get wisdom and get
understanding

 PHILSHARE GLOBAL RESOURCES LIMITED

(c)Copyright 2015