Yesterday I was talking to a gentlemen who is pretty much at the seeking for new opportunities and challenges in his life stage as financially he is pretty much set as even a million dollars is basically just money until you do something with it in a productive way. A project came up where we felt that we could help each other out due to our different areas of expertise and since he obviously has a lot more experience running a business in a general sense, it was great that he seemed to have wanted to genuinely share his wisdom and knowledge with me which I am always highly appreciative of. At first he was telling me about all these companies that he has ran. It was impressive and sounded like a lot of work time wise and I was kind of surprised that he was able to do so much within a relatively short period of time.
He then told me how that his strategy/philosophy has pretty much been to establish some kind of business that he would work and invest money in at first to get things going along with a few other people. As time went on and the business became more successful, obviously the value of the company increased as well and as a result he would slowly migrate into a role where he mainly gave his input on the company direction as his income would come from having shares in the company. While he may not make as much or own as many shares in the company compared to his other partners, by doing so he freed up his time to enable him to do other things. Basically, he continued with that cycle. My train of thought must have been elsewhere at the time as I was thinking in the traditional sense of working where you are actually physically doing work all the time.
I thought that was such a great lesson too to demonstrate the saying on how leveraging your time to work smarter along with diversifying your income sources are some of the top things to do to achieve financial success beyond a normal standard. On top of that, taking a small piece of the pie from a lot of big sources can be more productive in the long run as I suppose it is like that saying on how it is better to have 20% of $1000 rather than 100% of $100.