I define wealth as my ability to pay my bills and live my desired lifestyle without consuming all of my time and energy.
Whereas CASH FLOW is something I need to be actively involved in generating. Increased cash flow demands increased effort and time from me.
This is how we can get trapped on the hamster wheel of business. We depend upon cash flow too much.
Yes cash flow is king. But if you are feeling over worked and on the hamster wheel, look for ways you can start creating more income without more of your time.
A simple example for consulting industry people is recording your presentation you deliver somewhere, and then selling it online. You did the event once, but you generate more income from it without needing you to do it again.
Another example – a recent client generates inspection reports. They were sold once. He realised he could sell them again to others. He setup a system to do so and this is working well and creating more income without more effort from him.
My question for you…is there a way you can do the same? Even if a small step? How can you generate more income without more of your time?