Why Entrepreneurs NEED Multiple Streams of Passive Income with Chris Miles: An EOFire Classic from 2021
Entrepreneurs on Fire
John Lee Dumas
4.8 • 4.1K Ratings
🗓️ 15 March 2024
⏱️ 23 minutes
🧾️ Download transcript
Summary
From the archive: This episode was originally recorded and published in 2021. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.
Chris Miles, the Anti-Financial Advisor, teaches entrepreneurs and professionals how to get their money working for them TODAY! He's an author and podcast host of The Chris Miles Money Show.
Top3 Value Bombs
1. Don't get caught in an entrepreneur trap where you really don't have a job. You might make millions of dollars in your business, but when that shuts down and you're in trouble, you'll be stuck. You must have multiple streams of income.
2. The 2 streams of income are residual income, which you get through your business, and passive income, which comes from outside your business - like investments.
3. We've been trained that we have to have a financial advisor telling us what to do. The truth is, you're an entrepreneur. You're your own boss. You should be the boss of your own money because nobody should care about your money more than you.
Check out Chris' Podcast - The Chris Miles Money Show
Sponsors
HubSpot With the HubSpot for Startups program, you can save 30-90 percent on a platform that scales right along with you! To see if you're eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups
Airbnb Have you ever considered hosting on Airbnb. Your home might be worth more than you think… Find out how much at Airbnb.com/host
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Who's ready to rock today Fire Nation? |
| 0:04.8 | JLD here and welcome to entrepreneurs on fire brought to you by the HubSpot |
| 0:08.5 | Podcast Network, the Audio Destination for Business Professionals with great shows like |
| 0:13.0 | content is profits. Today we're pulling a classic episode from the |
| 0:16.0 | archives and we'll be breaking down why entrepreneurs need multiple streams of |
| 0:19.6 | passive income to drop these value bombs. I brought Chris Miles into EEO Fire studios. Chris is the anti- of He's an author and podcast shows of the Chris Miles Money Show. |
| 0:33.7 | And today our foundation will talk about not getting caught in an arch-me-or trap |
| 0:36.9 | where you really don't have a job. |
| 0:38.4 | You might make millions of dollars in your business, but when that shuts down and |
| 0:41.1 | you're in trouble, you'll be stuck you must have multiple |
| 0:44.0 | streams of income and so much more and a big thing for sponsoring today's |
| 0:47.6 | episode goes to Chris and our sponsors. |
| 0:50.4 | Imperfect action hosted by Steph Taylor is brought to you by the HubSpot Podcast Network, |
| 0:55.3 | the audio destination for business professionals. |
| 0:57.4 | Imperfect Action is a bite-size online marketing podcast for business owners who want to get |
| 1:01.5 | straight to the point. Join Steph Taylor as she answers all your business marketing questions. for business |
| 1:04.4 | marketing questions. |
| 1:05.2 | Recent episodes include five must knows to sell your online course, |
| 1:09.0 | program or membership and four steps to grow your email list for your next launch, listen to |
| 1:13.6 | imperfect action wherever you get your podcast. |
| 1:18.0 | Chris say what's up to Fire Nation and what's something you believe about becoming successful |
| 1:24.6 | that most people disagree with. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from John Lee Dumas, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of John Lee Dumas and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.