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Last Updated : Dec 03, 2019 03:44 PM IST | Source: Moneycontrol.com

Double Your Income series: Put into motion cause that leads to wealth-creation effect

The goal with Double Income is to provide the cause for the effect of adding an additional income stream to your current sources of income.

Rahul Shah @moneycontrolcom

I could scarcely believe my eyes. I hadn't seen anything like that before. The number literally jumped off the page.

Even my CEO was caught by surprise.

You see, we are part of an international network of financial publishers. We keep track of what our peers from across the world are doing. Especially, the number of orders they get daily.

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We are used to seeing them sell 1,000 to 1,200 subscriptions per day on the day of a new launch. However, what I saw from one of the international colleagues that day was truly extraordinary.

They had managed to sell a whopping 20,000 subscriptions of a new launch in one day flat. Effectively, they had outperformed the group average by a factor of 20x.

Just to put things in perspective, you are a healthy business if you sell 10k to 15k subscriptions for the entire year.

And here was one publisher who had managed to do almost twice as much in a single day.

Isn't that astonishing? Little wonder, all of us were shocked when we saw the numbers.

So, what was the idea that turned our international peer into the talk of the town? Why did it strike such a deep chord with the audience?

Well, my Double Income project is heavily inspired by this idea. I am sure Indian readers will love it too.

Now, I don't want to sound as if I've hit upon a once in a lifetime breakthrough. Such breakthroughs are not possible in the field of finance. All the key ideas in finance are timeless and are out there for hundreds of years. Any breakthrough that claims to be one is just an old wine in a new bottle.

My Double Income project is one such bottle in my view. The underlying rules and strategies are hardly new. What's unique is how it appeals as strongly to the heart as it does to the head.

You see, I often keep talking cause and effect with my five-year-old daughter. I tell her that we need to tank up our car before we can get it to run. I also tell her to first put coins in her piggy bank before she makes a large withdrawal.

The other day I told her that we must plant seeds, water them, and take great care of them before we see bright, colourful flowers on them.

It is sad how people understand these things almost automatically - even someone as small as my daughter - but fail to apply the exact same knowledge when it comes to their own lives. They forget the all-important rule of cause and effect.

As noted author Keith Ellis mentions, if you desire a specific effect in your life - whether it involves a relationship, or a job, or an important project - you must first set in motion the cause of that effect.

He further adds, whenever the cause is missing, the effect will be missing as well. Whenever the effect is missing, you can be certain that you have neglected to set in motion the appropriate cause.

My goal with Double Income is to provide the cause for the effect of adding an additional income stream to your current sources of income.

And this is big income I am talking about. Big enough to even match or exceed your total current income.

The goal then is to not just save and invest. It is to save and invest in such a way that you should be able to double your income in a few years or even retire with zero impact on your current standard of living.

Before you dismiss this, let me tell you this is entirely possible...without taking any undue risks.

All you need to do is save a small amount every month and invest it in Income Generators which I will recommend.

In fact, I have already identified the first batch of Income Generators for you.

And I am going to lift the curtains on these Income Generators and my entire strategy very soon.

I have been flooded with mails about how exciting they are finding the opportunity to be. I am sure it will come across as exciting for you as well.

Watch this space!

Would you like to know the secrets of my Double Income strategy?

Then watch my FREE video series between 12th to 17th December. For the first time, I’ll reveal my techniques to double your income in this exclusive video series. You can block your free seat here.

Rahul Shah is Equitymaster’s Co-head of Research. He has more than 16 years’ experience in equity research and building proven investing systems.

This article was first published in Equitymaster on 24 September 2019.

Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Dec 2, 2019 04:17 pm
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