Generate & Scale Your Income to Build Wealth Faster

Hey there, real quick, before we jump into the episode, listen, if your earnings treadmill hasn't set you free yet, running faster won't either. Listen, hustle without principles just going to burn you out. So here's what I want for you. I want you to join me for my money machine experience live. It is three free trainings. Deep dive into how to escape the treadmill and build a money machine that actually works for you. All right, grab your spot here by going to moneymachinelive.com and I'll see you in the free training. Having multiple streams of income, it's no longer a luxury, it's a requirement. If you truly want to be financially free, you need to have more than one source of income to make that happen. And in this episode of the Affluent Entrepreneur Show, I'm actually going to talk about what I think is one of the best ways to do that, because it's high profit, low cost, and can make that happen on autopilot if you do it right. So welcome to this episode of the Affluent Entrepreneur Show. See you in there. This is the Affluent Entrepreneur show for entrepreneurs that want to operate at a high level and achieve financial liberation. I'm your host, Mel Abraham, and I'll be sharing with you what it takes to create success beyond wealth so you can have a richer, more fulfilling lifestyle. In this show, you'll learn how business and money intersect so you can scale your business, scale your money, and scale your life while creating a deeper impact and living with complete freedom, because that's what it really means to be an affluent entrepreneur.

Welcome to this episode of the Affluent Entrepreneur Show. This one's going to be fun because we're talking about income. How do we scale our income? How do we do this in a way that that starts to give us flexibility, time, more profitability, cash flow so we can accelerate our path to wealth creation. And when we accelerate our path to wealth creation, we accelerate our path to true financial freedom. And so here's where we're gonna go. I wanna have a conversation and revisit the affluence blueprint kind of framework, the three pillars that you need to have in place and why and what that takes. Then we'll talk about the one thing that I want you to focus on to try and bring in additional income and how that can change your whole wealth picture. We'll show you how. I'll do some math for you. So here's the deal. I'm going to walk through it on my iPad. Those of you that are listening, I'm going to describe it all for you, but if you want, we'll make sure that we have the graphics available for you in the show notes and, and, or you can jump over to my YouTube at some point and watch the recording of it or my webpage. All right, so let's jump into it. Let's make this happen, because here's what we know.

The more income we have to use for building wealth, the faster we will get there. I know, it's like, duh, Mel. Okay, state the obvious. Yeah, you're right. However, it's really, how do we make that happen in a way that doesn't cause us to have to work in 80 hours a week, working three jobs, four jobs, whatever it is. Because here's what I do know is that if you are on the treadmill too long and you are running, and the only way that you can make more money is to run faster, run longer, run harder, the only thing that's going to happen over time is breakdown, burnout, and crash and burn. I don't want that for you. So the key is, how do we do this in a way that we can use it to buy back some of our time, to buy back options in our life, to be able to do the things that we want. So let's talk about the affluence blueprint for a moment because here's how I want us to look at this. An affluent entrepreneur has three critical outcomes and three critical outcomes. The first one is really about.

Living a richer lifestyle. And when I say richer lifestyle, I'm not talking about the money in the bank. I'm not talking about being wealthy. I'm talking about how you experience life. I'm talking about.

The feelings, the richness, the joy that you have. It doesn't mean that it's opulence. It doesn't mean that it's all these material possessions. Heck, it could be a tent in Montana or it could be a yacht in Monaco. I'm going to take the yacht in Monaco. But neither here nor there. The key is that you're living your life your way, in a rich way that is bringing the feelings and the experience in that you want. And so that's the first critical outcome. The second critical outcome of being an affluent entrepreneur or just living an affluent life, in my opinion, is that you have a deeper impact. And that deeper impact as an entrepreneur, as someone that's doing stuff for people, it's easy to look ahead and say, I make an impact on the clients, on the customers, the people I serve with Our products, our services and the things we do, that's easy. But the more important impacts are the ones to the right and left. The people that are walking life with us.

The people you love, how are you impacting them on this journey called life on your financial journey. And then there's a third impact and this one we, we all too often don't think about. And that is how you impacting the person in the mirror you, who you becoming in this journey to financial freedom. How are you showing up? How are you showing up for your family, for your customers, for your clients, for yourself? When we can can, when we can establish those three impacts, that's where the deeper impact comes from. And then the third critical outcome of the affluence blueprint is to have complete freedom. Now I get it, we're talking about financial freedom here. But it isn't financial freedom that is the stopping point, it's not the destination. Because there is two freedoms over and above that. That I think is really where we're trying to get to. The two freedoms above that is first time freedom. Do you have the time to or the ability to define what you do with your time, when you do it, how you do it? See, I truly believe that our wealth should be measured more in time and moments than it should be measured in money. And here's what I mean by that. How much of the moments of your life do you control? The more moments of my life that I have control of, the richer my life is. But too often.

We end up accumulating stuff, money, wealth and all that stuff. But we have no control of our time. If you had a hundred million dollars in the bank, but you had no control of your time, it's still a poor life. It might be comfortable, but it's still a poor life. This, the third freedom that I want for you is this idea of mind. Freedom to have peace of mind. To know that the causes, the missions, the movements, the people that you care about are taken care of today, tomorrow and long after you're gone. That's where I think we ought to be playing. So here's the way this plays out. There's three systems, or three pillars if you will, that I think we all need to have that happen. The first is this idea of a generate pillar. The generate pillar is actually how we go and generate our income. It could be salaries, it could be business, it could be revenues, it could be all kinds of things. This is what's going to give us the tool to fuel the building of the money machine. So you have the financial freedom. Entrepreneurs are good at this. This is what drives you to go from a drip in cash flow to a flood. This is how we make the money, okay? This is how we make the money. And the challenge is when we don't understand this or when we don't do this, then we got nothing. You know, if. If we have no system to generate, then we have no system to know how we're. How we're making money. And we have no ability to use that money to build wealth. Okay?

But that's not where we stop. And this is the problem that I see a lot is that we're generating money, but we're not using the money effectively to build wealth. We're not using the money effectively to create a money machine, which is where our freedom is. In other words, to create a pool of assets that's going to be able to generate cash flow that will support us without our efforts, without our active efforts, okay? It leverages our time back. And so our ability to take the income that we're creating that we're generating and use it to create a portfolio that will support us is going to be the path to freedom. And so the faster we can build that money machine, the sooner we get to freedom. And the speed in which we build that money machine may be affected by the income that we're generating. And that's why we're doing this episode. So the second part of this is this idea of accumulate. This is building the money machine. This is how do we take our income and convert it to assets that can produce income for us without us having to twist the dials and pull the levers and run on the treadmill? Okay. Then there's a third system. This system is how do we insulate it? How do we protect what we create, and how do we protect our ability to create it? Because we need to go, we're in a litigious society. We need to protect ourselves and make sure that we are.

Shielding our assets from that. So generate is really about how do you make it. Accumulate is how do you multiply it and insulate is how do you shield it. That's. That's the thing. But what I want to talk about in this episode really is in the generate pillar. Want to talk about one of the ways that I think that you can drive your income up fast with a high margin.

Type of income stream that you can use to build the money machine faster, okay. Because there's plenty of side hustles out there. In fact, look at all these. These Side hustles that you can, you can have in place to, to make that happen.

It's, it's crazy. Here's, here's a bunch of side hustles that I put down.

You know, 45 side hustles. Everything from putting IKEA furniture together to donating plasma to becoming a wedding planner. I don't know, putting IKEA furniture together would be like stick needles in my eye. Okay? Mowing lawns. I mean, any of these could be side hustles that bring in money that you can use to build that machine faster. But what I don't want to do is have you doing a bunch of odd jobs to make that happen. Here's what I have found. That is one of the best ways to build something that's sustainable, that's profitable, and they can generate the cash flow, and that is to do something that creates digital income. I'm not talking about crypto. I'm not talking about bitcoin. I'm not talking about any of that stuff. Talking about creating a product or a program or a course or something online. It is one of the highest margins, lowest barriers, lowest costs to get into. Now, there are certain things that you need to have in place, and I'm going to walk you through all of it to show you, and then I'm going to try and do the math for you so you can see how that can affect.

Your income, which ultimately creates your wealth. Okay? Now let me be really clear. I am not talking about get rich quick. Nothing I talk about is about get rich quick. Because you get rich quick, you're going to get poor quicker. Okay? So I want something that's sustainable. I want something that's usable. I want something that's going to last the test of time. And you'll work it, you'll build it, and then it'll take care of you. Think about this. When I got diagnosed with cancer, I knew I had to shut down my businesses, at least my active role in the businesses. But I had this other aspect. Courses, books and things that were selling in the background. I wasn't having to push the dials. I wasn't having to. To run on the treadmill. I wasn't have to do any of that type of stuff. But yet it was continuing to build income and it was high profit, which, which means that I had that cash flow coming in. I had the independence because of that. That's what I want for you. Even if you have a job, I'm going to show you that even if you have a job and you create it as a side hustle for a while. You can generate enough money that can start to generate a decent asset base to create a money machine to give you the wealth that you want. Okay, so I want to walk you through the digital income paradigm and what you need to have in place to make this work. It seems that you're going to see that it's a lot easier than people think. So this is the framework to create digital income. And the way that this plays out is that you need three things to have in place. And the first is that you need to have content distinction. Okay? Content distinction is about understanding that if I'm just repeating something that other people are already doing, that's not distinction, that's just repetition. Okay? Repetition is commodity based. It doesn't drive profits, it doesn't drive premium dollars. It doesn't drive you getting paid a high amount.

There's a way to do this. In fact, I'll do another episode on how do you get paid premium fees for the stuff, you know? Okay, so I'll do a second episode on that. Just so. So you know how to structure it in a way that makes that happen. This will help you, but I'm going to make. I'm going to go deeper on it in this next episode. So here's, here's the deal. The reality is that content distinction is going to require you to do a few things. It's going to require you to think deep, deeply. In other words, you're going to have to think deeper about your topic. You cannot just simply.

Do the same thing that other people are doing. We have a process that I walk through in Thoughtpreneur Academy that helps people start to understand how do you build your thought leadership, your information, your content on the shoulders of the greats that came before you and give your perspective to it so it has higher value and you set yourself apart. The second thing that you need to have in this is not just content distinction and deeper thinking is you need to create a unique methodology.

A unique methodology which is unique to you. How do you do this? Okay, and when you do that, now you have the ability to set yourself apart even further. Now that's what I'm going to do in the next episode. I'm going to dig deep on what, what are the aspects of a unique methodology and what does it take to, to make that happen so you start to understand that. So you want to make sure that you have a unique methodology and then you want to create premium positioning, how you talk about your stuff, how People talk about your stuff, give you a for instance.

I do valuations. I've done valuations for many decades and I've done a lot of work to position myself as one of the authorities in this space to the point that the positioning has carried me at a level that I have no website.

I do no marketing, I have no business cards.

Nothing around the valuation. I don't do any networking, I don't do any of that. And I haven't done it for over a decade yet. That part of the business will continue to make me multiple six figures every year without fail.

Now, I recently got a call from someone who said, hey, I need your services.

I was recommended to you. I've heard about you. And this is a complicated case. I know that it's going to take some time. I know that it's going to be expensive. Took the pricing issue right off the table at that point. I know it's going to be expensive, but I was told that you're the only one that I can go with. When you have that kind of positioning, price doesn't matter. Price isn't a question, price isn't a discussion. That's what I want for you. Premium positioning will come over time when you do this correct correctly. But it starts with your deeper thinking and your unique methodology. Content distinction is the first piece to creating a digital income paradigm that works for you. Okay? The second thing that you need to have is an irresistible offer. An irresistible offer is an offer. This is the thing that a lot of people miss is that it actually has to be an offer that serves a pervasive problem.

That your customer or your clients have. Pervasive problem that they want solved. They might have the problem, but they may not want it solved. Do they want it solved? So the offer has to tie to the pervasive problem that they're willing to pay money for. So we got to look at that and say, hmm, what's the pervasive problem that I have the ability to solve that these folks are willing to pay premium dollar for?

The second part of this irresistible offer is it must speak.

To their soul and their brain at the same time. In other words, it needs to stir them emotionally and grab them logically. And when you create an offer that solves a pervasive problem and then grabs their. That stir. That stir them emotionally and grabs them logically, all of a sudden they're looking at buying. And that's really it. An offer has those two components to it, and then you'll add the investment part of it. What does it cost okay, in some sort of deadline or decision point that they need to make? That's it. It's not any more complicated than that, but we have to position it properly. That leads me to the third piece of this, and that is this is a profit pathway. This is the journey that you're going to take your customers on. They may come in because of a post you did, they may come in because of an article you did, but where do they go every step of the way? Our job in this process is to orchestrate a journey, but not just any journey. A journey that makes a compelling argument, stirs them emotionally, grabs them logically where they say, oof.

I need this.

Then they say I need it now. And lastly they say, oh, I can do it. When we cross those three lines, we get conversions, we get sales, we get customers. So the two things that you need to craft in this profit pathway is to understand what that journey or that journey arc is for your customer. And then the second piece of that is to automate it, to set it on automation so it works in the background without you pulling the levers, twisting the dials, running on the treadmill. Run on the treadmill is going to lead to being on a treadmill. It's just, it's not the way to play. That's what saved me, part of what saved me because I also had the money machine, but I still had some income coming in because in the background the automations were working. Delivering, delivering, selling and selling. When you do this right, here's what's going to happen when you turn around and do this right. The fact is, is that when I have an irresistible offer and, and I have content distinction, in other words, it's highly valid, unique methodology and I create a irresistible offer that connects to the heart and the mind. You have high conversions, you got people buying over and over again.

When you have the irresistible offer and the profit pathway and you have that continuous flow, you have high cash flow, there is the possibility and the funding of your, of your future financial freedom. And when you have a profit pathway in place and content distinction, you have high leverage. And what I mean by that is that you get your time back. Digital income is one of the best ways that you can use to create income streams beyond whatever else you're doing that isn't driven by your active role. And time over time, it's going to take time at the beginning, but you can, you can get it built where it doesn't take time constantly, okay, but it is high profit, high cash flow, and now you can use that cash flow to build your wealth. Here's why this is important. There's something we call the wealth flatline. Your wealth grows in a hockey stick type of curve. And at the bottom, it is flat. At the bottom, when you first start investing, at the bottom, when you first start building your wealth, it feels like you're doing a lot of work and you're not getting anywhere. It feels like you're putting stuff away and you're going to call me up in a year and go, mel, this isn't working. I'm not getting anywhere. Yeah, it's because you're in the wealth flow flatline. We have to eat up the wealth flatline. And the only thing that eats up the wealth flatline is time. We get in the game of investing. We get in the game of wealth creation. We get in the game as early as possible. If you're not in the game yet, then today's the day. Today's the day to get in the game. Because on the other side of the flatline, as it starts to curve up like the hockey stick, that's the wealth acceleration zone. That's when your money starts to make more money for you than you are, than you are making yourself. It's when your money works harder for you than you did for it. Think about this, and I'm going to show you a chart that's going to kind of walk you through this and you'll see how this starts to play out. We're going to take four different people, all right? We've got four different real Tom, Justin, Sally and Angela. And they're going to invest different things, but Tom is going to invest $5,000 a year and he's going to invest for 10 years. So from age 25 to age 35, he invests $5,000 a year. Then we have Justin. He's going to invest for 10 years also. So he's going to invest the same amount as Tom, but he's going to wait to start investing till 10 years later. So he's going to do from 35 to 45 instead of 25 to 35.

And then we have Sally. Sally's going to say, wait, I'm going to. I'm going to go along with Justin, but I'm going to keep investing. So she actually does it for 30 years. From 35 to 65, she invests. But then there's Angela. She's the overachiever. She said, I'm going to start where. When Tom's starting at 25 years old, and I'm just going to keep going until 65. So she's going to actually invest for 40 years. Okay, so here's what they invest. You've got. You've got Tom that invests 55,000. You've got Justin, who invests 55,000. You've Got Sally, who invests 150,000 because she invested longer. And then you have Angela that actually invests 200,000. Okay, what do they have at age 65? Well, because Tom started early, time, did the work, he ends up with $900,000 by age 65. Okay, now we're assuming an 8% rate. You can get 8% and more in the market over the long term. In some years, it's going to be lower. In some years, it's going to be negative. In other years, it's going to be positive and big. The market goes up 8 out of 10 years. And I'm talking about the market right now. But real estate, all kinds of investments, you can do that. So now remember that Justin and Tom invested the exact same amount. They just did it 10 years apart. Okay? So because he started later, Justin started later. Instead of having 900,000 like Tom does, he has 418,000. He has less than half.

What time it is because he waited 10 years. In other words, he waited to get through the flatline. Then there's Sally, who started with at the same time as Justin, but invested longer. She ends up with 660. See, she invested more, three times more than Justin and Tom, but she's still less than Tom because Tom started early. Then there's Angela. Angela invests $50,000 more than Sally. She invested 200,000, but she started at age 25. She kept going to age 65, and by the time she's 65, she has $1.5 million. Time is your greatest wealth lever. So the idea here is this why I'm urging you to get into building additional income streams, is because those additional income streams will allow you to get on the wealth flow line sooner, stay on it longer, put more money in it, and allow time to do all the heavy lifting. Because here's the other thing that we know. If I go to another chart, I want to walk you through this. And this is why I think it's really important to realize you don't need to make a lot to have a lot. If I simply made $200 a month and put it away into investments over 30 years, that turns. Whoops. Over 30 years, that turns into 300,000.

Now you might say, I don't want 30 years. Okay, 20 years. It's 120,000. That's 200 bucks. That's 50 bucks a week. That's it. So think about this. You create a digital course. You create a digital income stream, and you take the first course sale out of the month. One course that you're selling it for 197 bucks, and you sell the first course sale out of every month and you put it away. You're creating a $300,000 machine over 30 years. What happens, what happens if you. If you decide that you're going to take the first course every week? If it's 200 bucks and you're down at $800? Well, at $800, you actually have $1.2 million by the time you get to 30 years out, or half a million dollars at 20 years.

Think about this. What happens if you're sending a. You're doing a course that is more than $200? Then all you. You're not doing it every week, you're doing it every other week or once a month. What happens if you got really, really heavy into it? And you said, I'm gonna put $1,500 away every single month, so I'm gonna take two or three course sales. If my course sales are 490, my courses are $497. My first three course sales are going to go into investing, and my first three core sales is $1500. Guess what? 2.2 million in 30 years. 900,000 in 20 years. Half a million dollars in 15 years. My point is, is this. This is the exact reason you have to have multiple streams of income. This is the exact reason I want you to create a digital income stream as one of the income streams, because it is high margin, low cost, low effort once you get it rolling.

And now if you just reroute automatically a couple of those sales a month into an investment account, done properly, you build your whole money machine off of that. And so you may have a job, you may have some other endeavor that's paying your bills and taking care of everything. And if you create this one thing and you use that one thing to fund the machine, and you stay with it consistently over time, so you eat up the flat line. It is the recipe that brings you to building a money machine that gives you the financial freedom you want. This is why I believe that this is one of the best ways to start to add additional streams of income to your world so you can accelerate your path to the financial freedom you deserve. So I hope that this helps. I'm going to go deeper on your unique methodology in the next episode. So you so stay tuned for that. I'll show you how do you set yourself apart so you can get premium fees, so you can get higher fees. And you're not selling stuff for 100 or $200, but you're selling stuff for 1,000, $2,000. And imagine what that will do your wealth creation. All right, so stay tuned for that next episode. I hope you found this valuable. I hope that you're starting to rethink about your streams of income and how you might be able to add a digital stream of income to your world. And if you have questions or any comments or anything that you need from me, go to askmail now.com send me a message, send me a note. If the questions are on there, I'll be sure to probably bring it on a show and make sure we get it answered. I might even bring you on and do some live coaching if you're open to it. So let me know. Keep in touch with me. Keep tuned in for more to come till we get a chance to see each other on another episode, another show, or on the road. As I always say, always, always strive to live a life that outlives you. Cheers. Thank you for listening to the Affluent Entrepreneur show with me, your host, Mel Abraham. If you want to achieve financial liberation to create an affluent lifestyle, join me in the Affluent Entrepreneur Facebook group now by going to melabraham.com group and I'll see you there.

And that's it for this episode of Building your Money Machine where we help you learn how to master your money, eliminate financial stress, and live a life of choice. If you found this valuable or helpful to you, here's what I'd love for you to do. If you do me a favor, go to Apple, Apple Podcast or wherever you're listening to this podcast and rate and review the show. It helps us tremendously to keep us at the top of the list so we can continue to get this information and this message out to people. Because I truly believe that financial freedom is your birthright and I want to help each and every one of you claim it. Thanks so much.