Why EVERY Entrepreneur NEEDS Passive Income | 557

There have been so many things that happened from 2020 that should’ve woken you up to start doing things differently for yourself and your business. If you are the next business to close its doors, what’s going to happen to you? If you don’t know how to answer that question, then this episode is perfect for you. We need multiple streams of income and we’re going to talk more about why you need it, what happens if you don’t, and how you can protect yourself further. Key Talking Points of the Episode [01:39] Invest with PreREO!  [02:30] The truth for entrepreneurs [03:16] Are you doing things differently today?  [04:17] Taking advantage of the inflation [04:39] Starting with emergency reserves [05:10] Gambling your money [08:40] The market will not stay up [09:10] The market crash is just overdue [10:11] Your number one investment [11:15] Why do you need a profitable business? [12:00] How do you protect yourself?  [14:19] What do multiple streams of passive income give you? [15:15] Mindset liberates you from an emotional standpoint [16:02] Do you ever feel trapped in your business? [17:30] The stress of your finances will always be there [18:18] Reassess your goals Quotables “What happened in 2020 was a fire alarm for you. It should’ve been a fire alarm for you.”  “That gamble mentality is what happens right before you tank.” “The biggest thing you should’ve learned from 2020 is that you need other streams of income coming in.” “If you’re an entrepreneur, your number 1 investment should be your business.” “No matter what kind of business you’re in, you need multiple streams of passive income.”