10 May BBF 134: How to Build a Secondary Income Stream with a Limited Time Commitment with Matt Miller

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What a great story we’ve got for you on the show this week. Matt Miller’s situation got so bad he was turned down for a payday loan, but he turned it all around and became a prolific franchiser in a marketplace that literally any of us could enter.

After 10 years as a pilot and a number of false dawns in the corporate world, Matt read the legendary book ‘Rich Dad Poor Dad’ and became fixated on the idea of earning passive income. He eventually carved out his nice in gumball machines and school fundraising, and today his business is going from strength to strength.

Read on for some of his great wisdom:

  • We should all strive to generate income without having to exert ourselves.
  • It is possible to have a fruitful business without sacrificing time with family.
  • Hire a coach! It totally transformed Matt. Elite sportspeople have coaches so why don’t we?
  • When you hit your major goal, find a way to be challenged to aim for another one.
  • Do what you can to remove yourself from the hub of the business. If Matt had never done this then the business would have ground to a halt when he had a heart attack.
  • The speed of the business is determined by the speed of the leader.
  • The most important investment anyone can make is in themselves.

 
In this episode of Business Brain Food you will learn:

  • The power of passive income
  • How to create flexibility in your work
  • How Matt was inspired to give something back to children
  • The ins and outs of franchising
  • How to scale a franchise
  • How Matt’s business survived when he was absent recovering from a heart attack
  • Matt’s definition of success

 
Resources mentioned in this episode:

 
Matt’s whole story is a great example of what can be achieved if you think beyond your core day-to-day work. For just a small commitment of time in the first instance, Matt has shown the power of just trying something new.

Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that!

Until next time, have a profitable day.

Cheers,
Ben Fewtrell
(02) 9111 5000