Five money trees businesses
Fastlane Distinctions To divorce yourself from the Slowlane's transactional relationship of “time for money,” you need to become a producer, specifically, a business owner. Business systems break the bond between “your time for money” because they act like surrogate operatives for your time trade. If you have a passive income that exceeds all your needs and lifestyle expenses including taxes, you're retired. Retirement can happen at any age. The fruit from a money tree is passive income. A Fastlane objective is to create a business system that survives time, exclusive of your time.
The 5 money-tree seedlings:
1. Rental system
Example: Real estate, licenses, and patents.
2. Computer system
Example: Internet and software business.
They work 24 hours a day, 7 days a week, and they don't complain about working conditions. They don't complain that you don't pay them enough.
3. Content system
Example: Authoring Books, blogging, and magazines.
Content systems are systems of information. That information can be fused to a variety of other systems, like the Internet and physical distribution systems.
4. Distribution system
Example: Franchising, chaining, network marketing, and online marketing.
A distribution system is any structure or organization designed to move products to the masses. Distribution systems can be hybrids with other seedlings, such as content and computer systems.
This is what Starbucks did to become the biggest coffee chain in the world.
So do KFC, McD, etc.
5. Human Resource system
This can add or subtract passivity. The most expensive to manage and implement.
Good employees nurture money trees. Bad employees pluck the fruit of money trees and require pruning. However, don't let that scare you. If you want to make millions of dollars or billions, human resource systems are needed, because you can't do everything yourself.
Link:
The Millionaire Fastlane (review)
Three roadmaps to wealth
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