It takes tremendous concentrated effort to create assets that generate an income stream. 84 percent of self-made millionaires in my Rich Habits Study created three assets, each of which generated an income stream. Thirty-nine percent had 4 income-generating assets, and 27 percent had five income-generating assets.
Building each income-generating asset took about five years of intense, massive effort. The self-made millionaires didn’t try to construct multiple income-generating assets without delay. They knew a bit secret of wealth constructing – you may have to focus intensely on constructing one income-generating asset at a time.
What is so profound about this little secret to constructing wealth?
Building income-generating assets is unimaginable in the event you don’t deal with each area, i.e. in the event you attempt to create multiple income streams at the identical time.
Unfocused concentration is a waste of time.
Unfocused concentration results in weak assets and weak assets result in weak revenue streams.
Lack of concentration results in exponential problems – there are too many obstacles/problems for the mind to unravel concurrently.
Lack of focus results in missed opportunities – you have to deal with developing a revenue stream day by day to acknowledge the opportunities that arise.
Unfocused focus results in mediocrity in your knowledge or skills – it’s essential to be completely and utterly immersed/obsessed within the task of constructing income-generating assets to learn what works and what doesn’t. Through this learning, you expand your knowledge/skills, which you’ll be able to then apply to construct additional income-generating assets.
The excellent news is that you could construct income-generating assets part-time, but it surely requires you to put aside 1-3 hours day by day and focus intensely on constructing that one income-generating asset. Creating income-generating assets is a process and that process is transferable to creating more income-generating assets.
