Mastering Multiple Streams of Income: Derrick Faulcon's Blueprint for Success

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3:22You spoke about the seven streams. I want to talk about that. Your series, your docu-series that you're working on, but also what's your thesis on seven streams of income? Because you broke it down the first time people hear seven streams and it's confusing. Everybody has different ideas of what seven streams of income. But from your personal perspective, how did you get seven streams and what's your viewpoint on that whole seven stream strategy? Definitely. I think the goal is to take one thing. And master that one thing. And then find services and products that are a byproduct of that one thing.

3:59So, like, for example, like, I'm going to talk about my streams. And we started with a donut shop, which was the first stream, which we focused on the three S's. Saving plus sacrifice equals scaling. That allowed us to now stay down and stack. You see all the S's? Yeah. Saving plus sacrifice equals scaling. And you stay down and stack until you save, sacrifice, and you scale, right? So we had the one shop and we just saved. I drove a Mini Cooper. I drove a Mini Cooper. I lived in a studio apartment and then I got another shop and then we just saved and then we got a truck and then we just saved and then I got another truck.

4:36I mean, no, then I got another shop and then I got another shop. So that's five shops, but two of the shops that I got our own and they have residential units. So that's the seven streams, right? So it was really this mindset of how can I take this one ability that I have, not be distracted with doing other things, not try to become a DJ or sell hair on the side, not try to sell bundles of body wraps, just focus on the donuts, get seven streams. And if those seven things could just make me a thousand dollars a week, that's two million dollars a year. That was it for me. If I made two million dollars a year, I know I could easily live in a two million dollar house.

5:12I know I could easily afford a$4 million house with a mortgage So I count my life out by saying If I can just take this and get there So like, think about that one lady who got that salon Who making$3 ,000 a week And her goal was$9 ,000 Just get two more salons Don't try to be a DJ on the side Or don't start selling dinners or plates Get two more salons It might take you longer We vastly underestimate what we can accomplish in the long run But we always overestimate what we can accomplish in the short run My marathon been going on six years. I've been doing it. I started 10 years ago, but I got it though See that's where I'm at with it.

5:49I got it I'm not in a position where I got a bunch of debt I don't owe a bunch of people and I could control it So any given moment I could activate the seven streams and as long as I now maintain it, which is a different mindset I can always have the option of perpetuate it But what we got to understand is black people is that yo listen sit down and focus on maintenance Got people who want to do a podcast. They want DJ and they want to do hair Rob Markman, figure out the DJ in first, whatever's going to make you the most money. Then I always tell another person this, once you get over the good luck, you get some good money, right?

6:21Stop focusing on everything that you specifically passionate about. Focus on what's going to bring that number in. That's what white folks do. They're not passionate about owning 3000 buildings. Trust me. They know that that portfolio and get on what they want out of life. So it's about giving it everything you got and it'll give you everything you want. Rob Markman, And then also what, so when you came first time you talked about even having multiple streams off of one business. Rob Markman, Yeah. Rob Markman, So it's like, as far as a restaurant, you could cater, you can have Uber Eats, you can have a cooking show.

6:51Rob Markman, So let me break down the sub streams that I got. So this is how my industry works, right? Typically when you see a donut shop, you think they make the most money from a person walking in and buying a donut, not me. We get our money from brand collaborations, they at the top, because we can be our natural selves and the company will give you a bag, right? Then after brand collaboration, we got what we call corporate pickup and drop off, where a company can call us and they can establish a weekly catering. Not an annual catering, but a weekly catering. So it's like a subscription package.

7:19After the catering, we also got the truck. With the truck events, we could do private events, so we could also pull up with the truck and do street vending. After the truck events, we got people walking in the store. Then we still got the seven strings where we educate people about all the things that we've done. And then on top of that, we got digital product that we can ship. That's six streams within one stream So now it's just It's a domino effect And I'm telling you I don't make a lot of money off of each stream I make a little off of each stream I might get one catering a week But that's$1 ,000 People might come into the store this weekend But that's$3 ,000 I might get a brand that called me And give me$10 ,000 And what I do is I combine all of that And I accumulate wealth And I stay in my lane An illegal alien from Guatemala Charged with raping a child in Massachusetts An MS-13 gang member from El Salvador accused of murdering a Texas man.

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8:51Do what's right. Leave now. Under President Trump, America's laws, border, and families will be protected. Sponsored by the United States Department of Homeland Security. Hey, it's Joel. And Matt from HowToMoney, if your New Year's resolution is to finally get your finances in shape, we've got your back. Prices, they're still high, and the economy is all over the place. But 2026 is the year for you to get intentional and make real progress. That's right. Each week, we break down what's happening with your money, the most important issues to focus on, and the small moves that make a big difference.

9:24Kick off the year with confidence. Listen to HowToMoney on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. What if mind control is real? If you could control the behavior of anybody around you, what kind of life would you have? Can you hypnotically persuade someone to buy a car? When you look at your car, you're going to become overwhelmed with such good feelings. Can you hypnotize someone into sleeping with you? I gave her some suggestions to be sexually aroused. Can you get someone to join your cult? NLP was used on me to access my subconscious. Mind Games, a new podcast exploring NLP, a.k.a.

10:00neurolinguistic programming. Is it a self-help miracle, a shady hypnosis scam, or both? Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This is Dr. Jesse Mills, host of the Mailroom Podcast. Each January, men promise to get stronger, work harder, and fix what's broken. But what if the real work isn't physical at all? I sat down with psychologist Dr. Steve Poulter to unpack shame, anxiety, and the emotional pain men were never taught how to name. Part of the way through the valley of despair is realizing this has happened, and you have to make a choice whether you're going to stay in it or move forward.

10:36Our two-part conversation is available now. Listen to The Mailroom on the iHeartRadio app, Apple Podcasts, or wherever you get your favorite shows. This is an iHeart Podcast. Guaranteed human.