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Episode 14: The Freedom Maker Manifesto of 2021 + Income Streams to Strive For/Avoid.
As a Freedom Maker, there are 10 things I must do to know I’m successful. These are:
If you’d like to pick my brain on any one of these statements, be sure to go back to episodes 4-13 and dive deeper into each and every one of these statements. If you’d like a PDF document of these 10 manifesto statements, drop me an email with subject line Episode 14 to [email protected]
So, what are some income streams to strive for, and what income streams should you avoid? As a general rule, avoid anything that has an hourly rate to it, no matter how high. Why? Because it places a cap on how much you can earn per day, per month, per year. Let’s say you have an hourly rate of $10k. It will take you 10 years, working 24/7, 365 days a year, to pay for a $365 mil mega mansion. Even if you don’t want to live in a mega mansion, you’re effectively tied to your job: if you work, you get paid 10 grand. If you take the day off, your opportunity cost is 60-100 grand. How will you feel when you’re on vacation with your family? My guess - it’s terrible.
If you’re still not convinced, there are many things in the world that are infinite, for example, money. There are a couple of things in this world that are finite, like time. Any person who knows how to do a deal will know that you never trade finite resources for infinite resources. You want to reach a point when you never have to trade money for time.
How? Here are some examples:
The 4 categories above all have 1 thing in common: you can make money while you sleep. If you know how to manage and limit your risk, you can trade limited risk, limited time, for relatively unlimited income. This is why I transitioned from Piano Teacher to E-commerce. In the next episode, I will talk about the breakdown and anatomy of every e-commerce business.
If you’ve enjoyed this episode, be sure to share, download or follow this podcast on Spotify, iTunes, or wherever you get your podcasts from. If you’d like a PDF document of the 10 Freedom Maker manifesto statements, drop me an email with subject line Episode 14 to [email protected]
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By Tyler JordanAs a Freedom Maker, there are 10 things I must do to know I’m successful. These are:
If you’d like to pick my brain on any one of these statements, be sure to go back to episodes 4-13 and dive deeper into each and every one of these statements. If you’d like a PDF document of these 10 manifesto statements, drop me an email with subject line Episode 14 to [email protected]
So, what are some income streams to strive for, and what income streams should you avoid? As a general rule, avoid anything that has an hourly rate to it, no matter how high. Why? Because it places a cap on how much you can earn per day, per month, per year. Let’s say you have an hourly rate of $10k. It will take you 10 years, working 24/7, 365 days a year, to pay for a $365 mil mega mansion. Even if you don’t want to live in a mega mansion, you’re effectively tied to your job: if you work, you get paid 10 grand. If you take the day off, your opportunity cost is 60-100 grand. How will you feel when you’re on vacation with your family? My guess - it’s terrible.
If you’re still not convinced, there are many things in the world that are infinite, for example, money. There are a couple of things in this world that are finite, like time. Any person who knows how to do a deal will know that you never trade finite resources for infinite resources. You want to reach a point when you never have to trade money for time.
How? Here are some examples:
The 4 categories above all have 1 thing in common: you can make money while you sleep. If you know how to manage and limit your risk, you can trade limited risk, limited time, for relatively unlimited income. This is why I transitioned from Piano Teacher to E-commerce. In the next episode, I will talk about the breakdown and anatomy of every e-commerce business.
If you’ve enjoyed this episode, be sure to share, download or follow this podcast on Spotify, iTunes, or wherever you get your podcasts from. If you’d like a PDF document of the 10 Freedom Maker manifesto statements, drop me an email with subject line Episode 14 to [email protected]