In part two of this article, the author introduces the second Robert, Robert Allen, who is the author of best sellers like "No money down" to illustrate his experience and lessons of how to create wealth. In this article the concept of multiple streams of passive income and the "MONEY TREE" principle of doing business is introduced and explained. The business ideas provided here are based on actual practices taught to many Robert Allen's students who became millionaires.
In Part One of this article, wealth was defined as having assets which produce passive incomes that provides for more than one's needs. And the way to acquire assets starts with creating your own business. Robert Kiyosaki who advocates this, also insists that anyone desiring to be wealthy acquires financial literacy i.e. learns to understand what is a Profit And Loss Statement, a Balance Sheet and the meaning of Financial Cash Flow.
The next Robert, Robert Allen, takes you on to another step i.e. a complete understanding of income streams and how you can have multiple streams instead of the only one most people know; an income from your job. Both Roberts would insist on how insecure that one stream from your job is and why you really need to explore acquiring other income streams.
Robert Allen, the creator of many millionaires, explains in his books, how you could create a pool of money coming from multiple streams of incomes arising from various assets.
To him the idea of creating assets begins with understanding how to manage your money effectively. This best starts when you are young like learning to set aside regular savings and allow it to accumulate over time. Creating assets also includes investing in the stock market and learning how to make money from option trading. The latter are not for short term and I'm sure currently not favored.
Other methods consist of starting businesses like investing in real estate, network marketing, information marketing, creating best sellers and internet marketing etc. Of all the businesses listed, I consider internet marketing the best option of all, right now. Why this is so becomes clearer when you learn how Robert Allen defines as the characteristics of the best kind of business one should own.
To Allen, a business conform to what he calls the 'MONEY TREE ' principle or characteristics, namely -
• provides a Multiple stream of income
• have an Outstanding product or service
• have little money or Nothing down on starting
• Employee resistant or no employees and
• provides high-Yielding profits
• a business in Trend
• gives Residual (passive) income
• Essential to everyone and
• provides Enthusiasm - something you love doing
The best business I know of today which conforms 100 per cent to this MONEY TREE formula is an internet marketing business. It is one which most people can start. This brings us to the third and final great Robert, namely, Robert Ringer; a guy who succeeded fabulously in his thirties after going through a disastrous failure.
To learn more about the third Robert, please go to Part Three of this article in this same Ezine site. Meanwhile, I suggest going to the site mentioned in the author’s resource box below if you desire to be wealthy and wish to take the first step of creating your own first asset; an internet marketing business. It is the easiest business to start nowadays.
To create your own first asset, go to the site to find the sincere teacher/guru who would actually show you how to make it in the internet marketing business.
Arguably, the most successful super affiliate and rated highly by some of the most successful online practitioners, the program this guru provides is comprehensive and would teach you the complete skills to make it online. It's also done in a simple step-by-step manner which allows even the novice to follow.
Wishing you all the best!
Louis Lim
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