Every time I see an entrepreneur make this business mistake, it kills me. Multiple streams of income are the key to making money while you sleep. However, so many people run this play the wrong way. Let me show you how to do it right and achieve financial freedom… 

To paint a picture for you, I am going to start with an example I heard of doing this multiple streams of income deal the wrong way. 

Recently, an employee of mine told me that his landlord started making food deliveries to earn some extra cash

To say I was shocked would be an understatement. 

Don’t get me wrong. There’s nothing shameful about delivering food. 

What took me aback was how dissimilar one stream of income was from his main venture. In short, they didn’t support one another. 

MORE IS NOT BETTER IF THEY DON’T WORK TOGETHER.

I don’t think I have to convince you that the example above is NOT the way to create wealth. 

With this in mind, let’s redefine how we look at cashing in from different sources… 

The Secret to Winning with Multiple Streams of Income

When you are deciding on adding another income flow, I want you to consider something in the same industry or a parallel one

This approach allows these multiple flows to feed and fuel one another, which ensures their strength. 

Now, let’s say the landlord from the previous section owned a restaurant instead, then made all the fees and tips from delivering the food.

That would be a different story… 

Anyway, you know the ins and outs of your industry better than anyone else. You know the problems you face on a daily basis. For this reason, you could even invent a business solution as another income stream. 

The possibilities are endless, and it’s the way to make this technique work without running in circles. 

At the end of the day, multiple streams of income have to be tackled with a plan in mind. You have to be strategic about it. 

Otherwise, you’re adding more shackles instead of working towards freedom. 

Play smarter — and be great,

Grant Cardone

Disclosure: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.

We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.

Previous articleTop 5 Memorable Moments from 10X Growth Conference
Next articleLeft Out?
Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.