Quote:
Originally Posted by Dien Rice
Hi Gordon,
I remember your "impressionist painter" approach!
That's where they would work on multiple paintings simultaneously, moving from one to the other as the light shifted during the day...
It's a good inspiration... 
Best wishes,
Dien |
Thanks Dien, wish I could remember all the wisdom we have spouted over the years, that was a good one.
A couple of weeks I was talking to a guy who lives in the wilderness, I call him "Grizzly Adams", he lives next to one of the largest parks in Canada and he literally has big brown bears come up to his house.
But recently, it was a beaver which gave him a moment of concern...he (and I) didn't know how fast these things are on the ground, and if they attack they can do a lot of damage...
so, his story led me to study beavers the last few weeks, I watched documentaries, the Nature shows, etc. and read all I could. Fascinating creatures and they are now using sound recordings to get beavers to build dams in strategic locations and the best studies show, that contrary to old ideas, they actually help the local ecology and are very beneficial to raising the water tables.
OK. So what?
Some streams of income begin dry up over time, and go from a wonderful cash flow to a trickle. Borrowing from the Beavers, consider building a dam, which will create a reservoir of income.
Example: Dien and I have sold tons of information products over the years and me, believing in time limited offers which really DO expire, have retired several works which produced a healthy stream of income.
Why? Waiting for a new parade to come by.
So the stream may have slowed to a trickle, but with some reserves, I can open the flood gates at any time to keep that stream flowing.
Also, some of those things had dates, and need updating, usually 4 or 5 years later when the new parade has swelled to the point it will be NEW to them.
AND, it is a good idea to have several small streams, all via Absentee ownership, which contribute to larger streams. I think Dien and I have both invested in other people for a piece of the pie. Some have continued paying for that investment for several years.
Juggle 3 if you can, but have twice that many in force through OTHER PEOPLE'S EFFORTS.