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Do You Need 7 Income Streams?

Name: Do You Need 7 Income Streams?
Uploaded: 2024-10-23T14:00:00+00:00
Duration: 38 s
Channel: Shanli Liu, CPA, CTP
Description: In this brief commentary, Shanli Liu, CPA, CTP, challenges the popular advice that aspiring millionaires should cultivate seven simultaneous income…

23 Oct 2024 · 1 min

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0:38

In this brief commentary, Shanli Liu, CPA, CTP, challenges the popular advice that aspiring millionaires should cultivate seven simultaneous income streams. She explains that most millionaires achieve multiple streams only after they have fully built and scaled a single venture to a high level, then diversify. Liu argues that attempting to split effort across many opportunities results in half‑filled “cups” that never reach meaningful realization, because the work required to bring an opportunity to fruition is substantial. The core message is to prioritize taking one opportunity from zero to the top before adding additional streams.

Chapters

People say that you need 7 income streams because the average millionaire has 7 income streams, but it conflates order. The reason the average millionaire has 7 income streams is because they did one all the way to the top and then they diversify at the end. But what they don't realize is that it takes this much work to get the opportunity to flow over and actually be fully realized. And so it's 0 to 1 up to here. You never see progress until you get to the top. And so they tell you, oh yeah, if you spread your workout between 7 opportunities, Somehow it's going to work. But all you end up with is 7 half-filled cups with zero realization of an opportunity.