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Let's say your goal is to make $600,000 a year passively ($50,000 a month).
Would you build a business worth millions and eventually try to sell it for a whopping $12 million? ($12 million invested at a conservative 5% per year yields $600,000 a year in passive income.)
Or would you "simply" build a business that earns $600,000 a year (after expenses), and then focus your efforts on automating it?
Both have their challenges, as does any Fastlane endeavor, but which do you prefer?
Automating a business may not be easy, but is it easier than multiplying the size of the business by 20 (approximately), and then finding a buyer?
Building a multi-million-dollar business may not be easy, but is it easier than risking your business getting damaged or going bankrupt in a volatile economy and marketplace, with decreasing (real) wealth and increasing government regulation?
Automation, while great, can take a lot of control out of your hands, which leaves you open to additional risk. Making the millions up front is easier said than done, but once you have them, you have them (although, you are still at risk of the dollar imploding... but, I guess, who isn't?).
Fastlaners, what are your thoughts/plans/ideas?
Would you build a business worth millions and eventually try to sell it for a whopping $12 million? ($12 million invested at a conservative 5% per year yields $600,000 a year in passive income.)
Or would you "simply" build a business that earns $600,000 a year (after expenses), and then focus your efforts on automating it?
Both have their challenges, as does any Fastlane endeavor, but which do you prefer?
Automating a business may not be easy, but is it easier than multiplying the size of the business by 20 (approximately), and then finding a buyer?
Building a multi-million-dollar business may not be easy, but is it easier than risking your business getting damaged or going bankrupt in a volatile economy and marketplace, with decreasing (real) wealth and increasing government regulation?
Automation, while great, can take a lot of control out of your hands, which leaves you open to additional risk. Making the millions up front is easier said than done, but once you have them, you have them (although, you are still at risk of the dollar imploding... but, I guess, who isn't?).
Fastlaners, what are your thoughts/plans/ideas?
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