“Turn all expenses into revenue streams”

Although wealthy people seem to think differently than most people, many of these same people share the secrets of building the greatest wealth online. A leading expert in small and medium-sized enterprises Codie Sanchez I recently shared a secret The wealthy people use it to build wealthand she uses it regularly.

“Turn all your expenses into income streams,” she explained.

Seeing every expense as an opportunity to make money can be a spectacular experience. Here’s how to achieve this:

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Sanchez mentions several examples of how she turned her usual expenses into income. For example, she bought a vending machine when she realized she was spending too much on a snack at the gym. The vending machine is currently making her $1,000 a month.

$1,000 a month is not life-changing, but it is part of a change in mindset that can lead to richness. Sanchez also bought some of the window cleaning companies when he realized he was spending too much money on cleaning his windows. Make that investment and generates cash flow, which can also help her save money with window cleaning services.

Sanchez repeated the process by purchasing part of the painting company. Following this strategy also allows you to invest in stocks in public companies. For example, if you are spending a lot of money on Amazon, buying Amazon stocks will help you pay for these expenses.

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It doesn’t make sense to sell Amazon stocks just to buy things on Amazon, but these stocks can gain value over time. Returns Compounds means you’re going to increase your Amazon stock rather than spending on Amazon orders.

Sanchez explains how you can invest in small businesses without money or experience. Seller funding makes equity stakes more accessible, but you can also raise funds with an SBA loan. The only catch on an SBA loan is that it takes up to 90 days to get approval for a 7(a) loan.

If you are buying a business entirely, she will suggest finding a top-notch professional and providing 10% fairness in your business. The company’s cash flow can then be repaid to the debt and the operator. This model includes operators running the entire business.