Generate & Scale Your Income to Build Wealth Faster

Wouldn't it be amazing if you could have the freedom to choose when and how you earn money?

Imagine being able to break free from the limitations of a single paycheck and create a steady stream of income that grows over time. That's the kind of life that can help you achieve your financial goals, whether it's paying off debt, saving for retirement, or anything else you can dream up.

But it's not just about making money. It's about building wealth that lasts. It's about creating a solid financial foundation that lets you live life on your own terms.

That's why you won't want to miss this episode, where I'll show you how to generate and scale your income with flexibility, time, profitability, and cash flow. We're going to dive into the Digital Income Paradigm and explore what you need to have in place to make it work. This framework is not complicated, and with the right approach, it can help you earn a higher income with ease.

So don't let financial limitations hold you back any longer. It's time to take control of your financial future and start building your wealth today!

IN TODAY’S EPISODE, I DISCUSS: 

• Digital income as a way to create income streams
• The importance of starting early in wealth creation
• Living a richer life with the Affluence Blueprint

RECOMMENDED EPISODES FOR YOU
If you liked this episode, you'll love these ones:

• How the Top 1% Earners Accelerate Their Wealth (It's Not By Getting a Raise)
• Simple Strategies to Increase Your Income (Without Burning Out)
• Building Legacy & Wealth Through Podcasts with Travis Albritton
• Capturing the Affluence Vision for Your Life

TAKE THE FINANCIAL FREEDOM QUIZ:
Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com 

OTHER RESOURCES:
Learn more about The Affluence Blueprint: https://melabraham.com/book-mel/the-affluence-blueprint4/
7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com
Affluent Entrepreneurs Private Facebook Group: https://www.melabraham.com/group/

CONNECT WITH ME:
Website: MelAbraham.com
YouTube: MelAbraham.com/tube/
Instagram (@melabraham9): MelAbraham.com/ig/
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Transcript

Mel Abraham  0:00  
Having multiple streams of income, it's no longer a luxury. It's a requirement. If you truly want to be financially free, you need to have more than one source of income to make that happen. And in this episode of the affluent Entrepreneur Show, I'm actually going to talk about what I think is one of the best ways to do that, because it's high profit, low cost, and can make that happen on autopilot if you do it right. So welcome to this episode of the African entrepreneurship. See you there. This is the absolute Entrepreneur Show for entrepreneurs that want to operate at a high level and achieve financial liberation. I'm your host, Mel Abraham, and I'll be sharing with you what it takes to create success beyond wealth. So you can have a richer, more fulfilling lifestyle. In this show, you'll learn how business and money intersect. So you can scale your business, scale your money, and scale your life, while creating a deeper impact and living with complete freedom. Because that's what it really means to be an affluent entrepreneur.

Mel Abraham  1:06
Welcome to this episode of the Affluent Entrepreneur Show, this one's gonna be fun, because we're talking about income, how do we scale our income? How do we do this in a way that starts to give us flexibility, time, more profitability, cash flow, so we can accelerate our path to wealth creation. And when we accelerate our path to wealth creation, we accelerate our path to true financial freedom. And so here's here's where we're gonna go, I want to, I want to have a conversation and revisit the affluence blueprint kind of framework, the three pillars, that that you need to have in place and why and what that takes, then we'll talk about the one thing that I want you to focus on to try and bring in additional income, and how that can change your whole wealth picture, we'll show you how I'll do some math for you. So here's the I'm going to walk to walk through it on my iPad, those of you that are listening, I'm going to describe it all for you. But if you want, we'll make sure that we have the graphics available for you in the show notes. And or you can jump over to my YouTube at some point and watch the recording of it or my web page. Alright, so let's jump into it. Let's make this happen. Because here's what we know. The more income we have to use for building wealth, the faster we will get there. I know it's like dark male, okay, state the obvious. Yeah, you're right. However, it's really how do we make that happen in a way that doesn't cause us to have to work 80 hours a week working three jobs, four jobs, whatever it is, because here's what I do know, is that if you are on the treadmill to law, and you are running, and the only way that you can make more money is to run faster, run longer run harder. The only thing that's going to happen over time, is break down, burnout, and crash and burn. I don't want that for you. So the key is, how do we do this in a way that we can use it, to buy back some of our time to buy back options in our life to be able to do the things that we want. So let's talk about the affluence blueprint for a moment. Because here's, here's how I want us to look at this. an affluent entrepreneur has three critical outcomes and three critical outcomes. The first one is really about living a richer lifestyle. And when I say richer lifestyle, I'm not talking about the money in the bank, I'm not talking about being wealthy, I'm talking about how you experience life, I'm talking about the feelings, the richness, the joy that you have, it doesn't mean that it's opulence, it doesn't mean that it's all these material possessions. Heck, it could be a tent in Montana, or it could be a yacht in Monaco, I'm gonna take the yacht in Monaco. But neither here nor there. The key is that you're living your life, your way, in a rich way. That is bringing the feelings and the experience in in that you want. And so that's, that's the first critical outcome. The second critical outcome of being an affluent entrepreneur, or just live in an affluent life, in my opinion, is that you have a deeper impact. And that deeper impact. As an entrepreneur, as someone that's doing doing stuff for people, it's easy to look ahead and say, I make an impact on the clients on the customers, the people I serve with our products or services and the things we do. That's, that's easy, but the more important impacts are the ones to the right and left. The people that are walking life with us, the people you love, how are you impacting them? I'm on this journey called life on your financial journey. And then there's a third impact. And this one we we all do often don't think about. And that is how you impact impacting the person in the mirror. You, who you becoming in this journey to financial freedom, how are you showing up? How are you showing up for your family, for your customers, for your clients, for yourself, when we can, can, when we can establish those three impacts. That's where the deeper impact comes from. And then the third critical outcome of the affluence blueprint is to have complete freedom. Now I get it, we're talking about financial freedom here. But it isn't financial freedom, that is the stopping point, it's not the destination, because there's two freedoms of over and above that, that I think is really what we're trying to get to the two freedoms above that is first time freedom do you have the time to, or the ability to define what you do with your time, when you do it, how you do it? See, I truly believe that our wealth should be measured more in time and moments than it should be measured in money. And here's where I remember that. How much of the moments of your life do you control, the more moments of my life that I have control of the richer my life is, but too often, we end up accumulating stuff, money, wealth, and all that stuff. But we have no control of our time. If you had $100 million in the bank, but you had no control of your time, it's still a poor life, it might be comfortable, but it's still a poor life. This, the third freedom that I want for you is this idea of mind freedom, to have peace of mind, to know that the causes the missions, the movements, the people that you care about, are taken care of. Today, tomorrow, and long after you're gone. That's that's where we're I think we ought to be playing. So here's the here's the way this plays out, there's three systems or three pillars, if you will, that I think we all need to have that happen. The first is this idea of a generate pillar, the Generate pillar is actually how we go and generate our income, that could be salaries, it could be business, it could be revenues, it could be all kinds of things, this is what's gonna give us the tool to fuel the building of the money machine. So you have the financial freedom. Entrepreneurs are good at this, this is what drives you to go from a drip, in cash flow to a flood. This is how we make the money. Okay? This is how we make the money. And the challenge is, when we don't understand this, or when we don't do this, then we got nothing. You know, if if we have no system to generate, then we have no system to know how we're how we're making money. And we have no ability to use that money to build wealth. Okay. But that's not where we stop. And this is the problem that I see a lot is that, that we're generating money, but we're not using the money effectively to build wealth, we're not using the money effectively, to create a money machine, which is where our freedom is, in other words, to create a pool of assets, that's going to be able to generate cash flow that will support us without our efforts without our active efforts. Okay, it leverages our time back. And so our ability to take the income that we're creating, that we're generating and use it to create a portfolio that will support us, is going to be the path of freedom. And so the faster we can build that money machine, the sooner we get to freedom, in the speed in which we build that money machine may be affected by the income that we're generating. That's why we're doing this episode. So the second part of this is this idea of accumulate. This is built on the money machine. This is how do we take our income and convert it to assets that can produce produce income for us without us having to twist the dials and pull the levers and, and run on the treadmill? Okay, then there's a third system. This system is how do we insulate it? How do we protect what we create? And how do we how do we protect our ability to create it because we need to go we're in a litigious society. We need to protect ourselves and make sure that we are shielding our assets from that. So generate is really about how do you make it accumulate is how do you multiply it? And insulate is how do you shield it? That's that's the thing but what I want to talk about in this episode really is in that generate pillar, I want to talk about one of the ways that I think that you can drive your income up fast, with a high margin type of income stream that you can use to build the money machine faster. Okay? Because there's plenty of side hustles out there, in fact, look at all these, these side hustles that that you can, you can have in place to, to make that happen. It's, it's crazy, here's, here's a bunch of side hustles that I put down, you know, 45, side hustles, everything from putting Ikea furniture together to donating plasma, to becoming a wedding planner.

Mel Abraham  10:50  
I don't know, putting Ikea furniture together would be like sticking needles in why? Okay, mowing lawns, I mean, any of these could be side hustles that bring in money that you can use to build that machine faster. But what I don't want to do is have you doing a bunch of odd jobs to make that happen. Here's what I have found. That is one of the best ways to build something that's sustainable, that's profitable, and they can generate the cash flow. And, and that is to do something that creates Digital Income. I'm not talking about crypto, I'm not talking about Bitcoin, I'm not talking about any of that stuff, talking about creating a product or a program or a course or something online. It is one of the highest margins, lowest barriers, lowest costs, to to get into. Now, there are certain things that you need to have in place, I'm gonna walk you through all of it, to show you and then I'm going to try and do the math for you. So you can see how that can affect your income, which ultimately creates your wealth. Okay, now, let me be really clear, I am not talking about get rich quick, nothing I talk about is about get rich quick, because you get rich quick, you're gonna get poor, quicker, okay? So I want something that's sustainable, I want something that's usable, I want something that's going to last the test of time. And will you'll work it, you'll build it, and then it'll take care of you think about this. When I got diagnosed with cancer, I knew I had to shut down my businesses, at least my active role in the businesses, but I had this other aspect, courses, books, and things that were selling in the background. I wasn't having to push the dials, I wasn't having to run on the trim, I wasn't have to do any of that type of stuff. But yet it was continuing to build income. And it was high profit, which, which means that I had that cash flow coming in, I had the independence. Because of that, that's where I want for you. Even if you have a job, I'm going to show you that even if you have a job and you create it as a side hustle for a while, you can generate enough money that can start to generate a decent asset base to create a money machine to give you the wealth that you want. Okay, so I'm gonna walk you through the Digital Income paradigm, and what you need to have in place to make this work, it seems that you're going to see that it's a lot easier than then people think. So this is the framework of called to create digital income. And the way that this plays out is that you need three things to have in place. And the first is that you need to have content distinction. Okay. Content distinction is about understanding that if I'm just repeating something that other people are already doing. That's not distinction. That's just repetition. Okay, repetition is commodity based. It's, it doesn't drive profits, it doesn't drive premium dollars, it doesn't drive you getting paid a high amount. i There's a way to do this. In fact, I'll do another, I'll do another episode on how do you get paid premium fees for the stuff you know, okay, so I'll do a second episode on that, just so you know how to structure it in a way that makes that happen. This will help you but I'm going to make I'm going to go deeper on it in this next episode. So here's here's the deal. The reality is that content distinction is going to require you to do a few things. It's going to require you to think deeply. In other words, you're gonna have to think deeper about your topic. You cannot just simply do the same thing that other people are doing. We have a problem access that I walked through in Thoughtpreneur Academy that helps people start to understand how do you build your thought leadership, your information, your content on the shoulders of the greats that came before you and give your perspective to it. So it has higher value, and you set yourself apart. The second thing that you need to have in in this is not just content, this distinction and, and deeper thinking is you need to create a unique methodology. Okay, a unique methodology, which is unique to you, how do you do this, okay. And when you do that, now you have the ability to set yourself apart even for now, that's what I'm going to do in the next episode, I'm going to dig deep on what are the aspects of a unique methodology? And what does it take to, to make that happen, so you start to understand it. So you want to make sure that you have a unique methodology. And then you want to create premium positioning, how you talk about your stuff? How people talk about your stuff, give you a for instance. I do valuations, I've done valuations for many decades. And I've done a lot of work to position myself as one of the authorities in this space, to the point that the positioning has carried me at a level that I have no website. I do no marketing. I have no business cards. Nothing around the valuation, I don't do any networking. I don't do any of that. And I haven't done it for over a decade, yet, that part of the business will continue to make me multiple, six figures every year without fail. Now, I recently got a call from someone who said, Hey, I need your services. I was recommended to you i I've heard about you. And this is a complicated case. I know that it's going to take some time, I know that it's going to be expensive. Took the pricing issue right off the table at that point. I know it's gonna be expensive. But I was told that you're the only one that I can go with. When you have that kind of positioning price doesn't matter. Price isn't a question. Price isn't the discussion. That's what I want for you. Premium positioning will come over time when you do this correctly. But it starts with your deeper thinking and your unique methodology. Content distinction is the first piece to creating a Digital Income paradigm that works for you. Okay, the second thing that you need to have is an irresistible offer. An irresistible offer is an offer, this is the thing that a lot of people miss is that it actually has to be an offer that serves a pervasive problem that your customer or your clients have, pervasive problem that they want solved. They might have the problem, but they may not want it. So do they want it so so the offer has to tie to the pervasive problem that they're willing to pay money for. So we're gonna look at that and say, What's a pervasive problem that I have the ability to solve that these folks are willing to pay premium dollar for? The second part of this irresistible offer is it must speak to their soul and their brain at the same time. In other words, it needs to stir them emotionally, and grab them logically. And when you create an offer that solves a pervasive problem, and then grabs their stir that stir them emotionally in grabs them logically, all of a sudden, they're looking at buying that. And that's really it. An offer has those two components to it, and then you'll add the investment part of it, what does it cost? Okay? In some sort of deadline or decision point that they need to make, that's it. It's not any more complicated than that, but we have to position it properly. That leads me to the third piece of this, and that is this is a profit pathway. This is the journey that you're going to take your customers on. They may come in because of a post you did. They may come in because of an article you did. But where do they go every step of the way. Our job in this process is to orchestrate a journey. But not just any journey. A journey that makes a compelling argument It stirs them emotionally grabs them logically, where they say, Oh, I would, I need this. Then they say, I need it now. And lastly, they say, Oh, I can do it. 

Mel Abraham  20:20  
We crossed those three lines, we get conversions, we get sales, we get customers. So the two things that you need to craft in this profit pathways to understand what that journey or that journey arc is for your customer. And then the second piece of that is to automate it, to set it on automation. So it works in the background without you pulling the levers twisting the dials running on the treadmill, run on the treadmill is going to lead to be another treadmill, it's just, it's not the way to play. That's what saved me part of what saved me because I also had the money machine, but I still had some income coming in. Because in the background, the automations were working, delivering, delivering, selling and selling. When you do this, right, here's what's going to happen when you turn around and do this, right. The fact is, is that when I have an irresistible offer, and I have content distinction, in other words, it's it's highly valid, unique methodology and to create an irresistible offer that connects to the heart and the mind, you have high conversions. You got people buy in, over and over again. When you have the irresistible offer and the profit pathway. And you have that continuous flow, you have high cash flow, there is the possibility and the funding of your of your future future financial freedom. And when you have a profit pathway in place, and content distinction, you have high leverage. And what I mean by that is that you get your time back. Digital Income is one of the best ways that you can use to create income streams beyond whatever else you're doing. That isn't driven by your active role and time over time, it's going to take time at the beginning. But you can, you can get it built, where it doesn't take time constantly. Okay, but it is high profit, high cash flow. And now you can use that cash flow to build your wealth. Here's why this is important. There is something we call the wealth flatline. Your your wealth grows in a hockey stick type of curve and at the bottom, it is flat at the bottom when you first start investing at the bottom when you first start building your wealth, it feels like you're doing a lot of work and you're not getting anywhere. It feels like you're putting stuff away and you're gonna call me up in a year and go Now this isn't working. I'm not getting anywhere. Yes, because you're in the wealth flatline. We have to eat up the wealth flatline. And the only thing that eats up the wealth flatline is time we get in the game of investing, we get in the game of wealth creation, we get in the game as early as possible. If you're not in the game yet, then today's the day Today's the day to get in the game. Because on the other side of the flatline as it starts to curve up like the hockey stick, that's the wealth acceleration. So that's when your money starts to make more money for you than you are, then you are making yourself. It's when your money works harder for you than you did for it. Think about this, and I'm going to I'm going to show you a chart that's going to kind of walk you through this and you'll see how this starts to play out. We're going to take we're going to take four different people. Alright, we've got Rob Ford, and real Tom, Justin, Sally and Angela. And they're going to invest different things. But Tom is going to invest $5,000 a year. And he's going to invest for 10 years. So from age 25 to age 35, he invest $5,000 a year. Then we have Justin, he's going to invest for 10 years also. So he's going to invest the same amount as Tom, but he's going to wait to start investing to 10 years later. So he's going to do from 35 to 45 instead of 25 to 35. And then we have Sally, Sally is going to say wait, I'm gonna I'm gonna go along with Justin, but I'm going to keep investing so she actually does it for 30 years from 35 to 65. She invests but then there's Angela, she's the overachiever. She said I'm gonna start where when Tom starting at 25 years old, and I'm just going to keep going until 65. So she's going to actually invest for 40 years. Okay, so here's what they invest. You've got you've got Tom that invest 55,000 You've got Justin invest 55,000 You've got Sally who invest on 150,000 Because she invested longer. And then you have Angela, that actually invest 200,000. Okay. What do they have at age 65? Well, because Tom started early time did the work, he ends up with $900,000 by age 65. Okay, now we're assuming an 8% rate, you can get 8% and more in the market over the long term. In some years, it's going to be lower. In some years, it's going to be negative. And in other years, it's going to be positive and big, big market goes up eight out of 10 years. And I'm talking about the market right now. But real estate, all kinds of investments can do that. So now, remember that Justin and Tom invested the exact same amount, they just did it 10 years apart. Okay, so because he started later, Justin started later, instead of having 900,000, like Tom does, he has 418,000, he has less than half. What Tom does, because he waited 10 years. In other words, he waited to get through the flatline. Then there Sally who started with with at the same time as Justin, but invested longer, she ends up with 660. See, she invested more, three times more than Justin and Tom. But she's still less than Tom, because Tom started early. Then there's Angela, Angela invest $50,000, more than Sally, she invested 200,000. But she started at age 25, she kept going to age 65. And by the time she's 65, she has $1.5 million time is your greatest wealth lever. So the idea here is this, why I'm urging you to get into building additional income streams is because those additional income streams will allow you to get on the wealth flatline sooner, stay on it longer, put more money in it, and allow time to do all the heavy lifting. Because here's the other thing that we know, if I go to another chart, I want to walk you through this. And this is why I think it's really important to realize you don't need to make a lot to have a lot. If I simply made $200 a month and put it away into investments over 30 years that turns flips, over 30 years, that turns into 300,000. Now, you might say I don't want 30 years, okay, 20 years, it's 120,000. That's 200 bucks, that's 50 bucks a week. That's it. So think about this, you create a digital course, you create a digital income stream, and you take the first core sale out of the month, one course that you're selling it for 197 bucks, and you sell the first course sale out of every month and you put it away, you're creating a $300,000 machine over 30 years. What happens? What happens if you if you decide that you're going to take the first course every week, if it's 200 bucks, and you're down at $800? Well, $800, you actually have $1.2 million, by the time you get to, to 30 years out, or half a million dollars at 20 years. Think about this, what happens if you're sending you're doing a course that is more than $200, then all you you're not doing it every week, you're doing it every other week, or, or once a month. What happens if you got really, really heavy into it, and you said, I'm gonna put $1,500 away every single month. So I'm going to take two or three course sales of my course sales are four, nine, and my courses are $497. My first three course sales are going to go into investing. And my first three core sales is $1,500. Guess what? Two point 2,000,030 years 900,020 years half a million dollars in 15 years. My point is is this, this is the exact reason you have to have multiple streams of income. This is the exact reason I want you to create a digital income stream as one of the income streams because it is high margin low cost and low effort once you get it rollin. And now if you just reroute automatically a couple of those sales a month into an investment account done properly. You build your whole money machine off of that. And so you may have a job. You may have some other endeavor that's paying your bills and taking care of everything. And if you create this one thing and you use that one thing to fund the machine and you stay with it consistently over time, so you eat up the flatline. It is the recipe that brings you to building a money machine that gives you the financial freedom you want. This is why I believe that this is one of the best ways to start to add additional streams of income to your world. So you can accelerate your pathto the financial freedom you deserve. 

Mel Abraham  30:17
I'm going to go deeper on your unique methodology in the next episode. So you so stay tuned for that. I'll show you how do you set yourself apart so you can get premium fees, so you can get higher fees and you're not selling stuff for 100 or 200 hours, but you're selling stuff for 1000 $2,000? And imagine what that will do to your wealth creation. All right, so stay tuned for that next episode. I hope you found this valuable. I hope that you're starting to rethink about your streams of income and how you might be able to add a digital stream of income to your world. And if you have questions or any comments or anything that you need from me, go to ask mail now.com Send me a message, send me a note. The questions are on there. I'll be sure to probably bring it on a show. And make sure we get it answered. I might even bring you on and do some live coaching if you're open to it. So let me know keep into touch with me. Keep tuned in for more to come till we get a chance to see each other in another episode, another show or on the road. As I always say, always, always strive to live a life that outlives you. Cheers. Thank you for listening to the affluent entrepreneur show with me your host Mel Abraham. If you want to achieve financial liberation to create an affluent lifestyle, join me in the affluent entrepreneur Facebook group now by going to melabraham.com/group and I'll see you there.