A self-made millionaire shares 5 tips for building a million-dollar income stream. (via CNBCMakeIt)
But with time a finite resource, the best route to a million dollars is to create your own intellectual property , which you can then scale and sell to generate a continuous income stream — even when you're not on the job, according to Simkin.
For Simkin, that process involved applying his software skills to build digital marketing tools for businesses and create online workshops for business leaders. However, he noted that the same strategy can be applied to various disciplines and professional skills.With the proliferation of technology, it's become easier than ever to sell your services at scale. But, by the same measure, it's caused competition to heat up.
Fortunately, however, he said there are now countless books and courses available to help, recommending Jay Abraham's "Getting everything you can out of all you've got" as his top pick. "How you do little things can make a big impact on how you're looked upon," said Simkin, "and you never know who's watching.""I would stay late and people recognized that," he said. "I was later tapped on the shoulder and given bigger contracts because they trusted me."Finally, as with anything new, you will likely find yourself faced with unforeseen challenges along the way.
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