In his book, Rich Dad, Poor Dad, author Robert Kiyosaki describes three types of income: 1) Earned income (e.g. from your salary or business income) 2) Passive income (Income that doesn’t require active work to generate e.g. income from a rental property) 3) Portfolio income (e.g. capital gains from owning an asset that appreciates in value).

If you’ve earned an income from your business, you could reinvest it to grow your earned income further. But why not invest it in an asset that’s going to generate a passive income or capital gain?

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Intro/Outro Music: "Synthia" by Scott & Brendo

In this episode of Minor Updates, I share some of the things I've been focussing on in my business and personal life.

Over the weekend I visited a local hardware store to enquire about purchasing a line trimmer. This is the second time I've been to the store in the last month or so and on both occasions, I left disappointed without making a purchase. I’ve talked to two salespeople now and neither one had enough product knowledge to make a clear recommendation that would solve my problem.

What I need is for someone to understand my needs, talk me through a few viable options and make a recommendation on which option to go with. I want to feel confident that I’m making the right decision before I spend $500.

This illustrates precisely why I sell my services in the way that I do.

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Intro/Outro Music: "Synthia" by Scott & Brendo

I’ve shared previously on this blog that my primary motivation right now (as it has been for years) is to make my business more efficient. Since reading Dan Martell’s book, Buy Back Your Time (affiliate link), I’ve shifted my mindset to focus more on teaching my team as much as I can in order to improve our overall efficiency.

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Intro/Outro Music: "Synthia" by Scott & Brendo

At the end of last year, I hired an administrative assistant to help process my email and to help with daily administrative tasks. My new assistant, Faith, has been working with me for just over a month now and she’s already helping to save me a tonne of valuable time.

In this episode, I’d like to share the process of how I hired her and some of the steps I took to onboard here. It’s still early days and there’s a lot I’d still like to train Faith on but I'm excited by the progress so far and can't wait to see where we're at 6 months from now.

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Intro/Outro Music: "Synthia" by Scott & Brendo

In this episode of the Paul Minors Podcast, I catch up with my good friend, Francesco D'Alessio. Francesco is a fellow YouTube creator. We started our businesses around the same time. We're similar in age and both are young Dads and we get along well.

In this interview, we catch up on some personal stuff and talk about productivity apps, YouTube and how we've built our businesses. Enjoy!

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Intro/Outro Music: "Synthia" by Scott & Brendo

Almost all of the Pipedrive and Asana clients we work with tell us the same thing - “We’re not getting as much as we can out of the tool”. A big part of getting more out of the tool is learning how to use the tool itself. But an often overlooked aspect is making sure you're inputting good data and keeping it up to date. This is the whole ‘Quality In = Quality Out’ argument.

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Intro/Outro Music: "Synthia" by Scott & Brendo

Historically, I’ve closed out each year by sharing a summary of how I spent my time that year but this year I thought I’d do something different.

Keeping within the same theme, I’m going to reflect on major achievements this year and will share what I’m looking forward to in 2024.

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Intro/Outro Music: "Synthia" by Scott & Brendo

Everyone should be trying to improve their communication skills. You can be the most intelligent person in a room but if you can’t communicate your ideas clearly, you are doing yourself a disservice.

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Intro/Outro Music: "Synthia" by Scott & Brendo

A productivity principle I’ve been following for years now is to always identify my ‘next action’ related to the projects and clients I’m working on.

This is something I discussed in episode 243 of my podcast which I’d like to revisit as it’s such a simple, yet powerful concept that can really help you to be more organised.

The concept of a ‘next action’ was first introduced to me in David Allen’s book, Getting Things Done. I don’t follow GTD strictly, but when I’ve certainly adopted this concept from the book. According to David Allen, the next action is the most immediate activity that YOU can take to move a task or project forward.

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Intro/Outro Music: "Synthia" by Scott & Brendo

Today, I wanted to share a story that illustrates exactly why you shouldn't put all your eggs into one basket. Especially when it comes to your income.

Either as a business owner or a salaried employee, don't put all your eggs in one basket. Meaning, don't get all of your income from one source. You never know when something may happen and the rug gets pulled out from underneath you. By having a few sources of revenue or a side hustle, diversification is the key to protecting yourself.

Show notes (please leave me a comment with your questions and feedback) » https://paulminors.com/288

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Intro/Outro Music: "Synthia" by Scott & Brendo