I want to start off by saying that this article is a longer read than usual. This was necessary in order to provide you with the very best and up-to-date content accompanied by a large assortment of links to give you even more detailed and “How To” info to ensure your success should you decide to make a profitable decision and acquire the mindset and pursue a money making pathway of the wealthy. Let’s begin!
In Part I, I introduced you to the concept of what 3 classifications of people buy on payday. Let’s recap:
1. The poor buy inexpensive “trinkets” on payday and forego the opportunity to invest in Income Producing assets and thus, always remain poor.
2. The middle class buy liabilities on payday (expensive toys, vacations and real property that cost them money every month to maintain) and work their entire lives just to hold onto these comforts and life luxuries with little liquidity or appreciation to show in the end, but instead, a lot of debt and stress.
3. The rich buy Income Producing Assets on payday, then take their profits from these assets and buy even more Income Producing Assets, and repeat this cycle over-and-over to obtain personal and financial freedom.
Sounds pretty simple, right? Well, yes and no. It’s easy to buy or participate in an Income Producing Asset, but what’s difficult is acquiring the mindset to do so. Again, we are largely raised and educated our entire lives to work for someone else, trading our time and labor for the bosses money, or owning a small business (general contractor, franchise, cleaning service), or trading our education and knowledge for someone else’s money (attorney, accountant, engineer). In each situation you lack knowledge of what your income will be month-to-month, year-to-year, and forever live in financial insecurity with too much month at the end of the money!
(I realize there are always exceptions to my scenarios above. I’m really talking about the majority of people, not those 1-percenters, like Gates or Zuckerberg, who hit their businesses out of the park).
As you read my 3 part series, I want you to feel a different sense of feeling, empowerment and excitement come over you. I want you to feel a sense of confidence that you’re going to learn a new mindset, a new way to perceive money and how to generate it. I want you to feel a sense of entitlement that you can become anything you want to become if you choose to, if you only take the necessary steps, consistently, over-time, in a single-minded intent, without ever stopping, to achieve what you’ve decided to become.
Now, I want you to calm your mind so you can prepare your mind to begin to acquire the right mindset to think and act like the wealthy. Have you ever heard the adage, “You need the willingness to have the willingness?” Well, I want you to have the right mindset to acquire the right mindset to guide you and help you fulfill your financial dreams.
And that begins with opening your mind, trusting, believing and accepting the fact that you can acquire and earn money right now from the 16 Income Producing Assets listed below. Let no negative, doubting thoughts enter your mind and give this an open-minded read.
1. Google Adsense: Money is earned when visitors click on Internet advertisements on your website. This requires a good niche, proper execution and consistent traffic; grow the traffic, grow the income. Use a wide range of traffic-generating techniques, including online advertising, social media and building SEO (Search Engine Optimization – see below). Build valuable content on your website that attracts AdSense advertisements, which pay out the most when they are clicked. Use text content on your website that encourages visitors to click on advertisements. The phrases accepted are “Sponsored Links” and “Advertisements.”
2. Affiliate Programs: This is where an online business rewards an affiliate (your website) for referring a customer to buy their product or service. In other words, the online business pays you a commission for sending them customers. The online business gives you a unique web address link (URL) to embed in your website, emails, texts, etc., and each time someone clicks on the link and makes a purchase, you’ll receive a commission. First, create a website and write about a topic you enjoy at least once a week that is related to the product or service you’re referring. Next, advertise and use social media and SEO to build audience and site traffic.
For building SEO tips click here => mz.cm/UTKnbM.
3. Blogging For Cash: A blog is short for “WebLog,” which is just a website that has entries listed in reverse chronological order (the last blog entry first). The original idea behind it was to be an online journal that was updated regularly. A blog is very easy to setup. Just register at any one of these 4 blogging platforms – Tumblr.com, Blogger.com, WordPress.com, WordPress.org – start writing about a topic of interest or expertise, then click “Submit” or “Publish” and your entry shows up on your blog for the world to see. A blog can be very quick to set up and completely free. You can make money via your blog by eBooks, Adsense, Affiliate Programs, Direct Ad Sales, Ad Networks, or your own product or service.
For more detailed info on how to setup a blog click here => bit.ly/WLjmaY and learn.wordpress.com/. For more info on how to blog and make money click here => bit.ly/VAzb0X, bit.ly/YzgAEV and bit.ly/11m2j3R.
4. Phone Apps: There are many blogs at this time stating that you can make millions of dollars with apps. They talk about how every download you get is going to make you at least $1 and all you need to do is get your apps in the store. This isn’t the case. If you think that you’re just going to sit back, relax, and watch the money pour in, you’re in for a rude awakening. App monetization is not about being in the game, it’s about winning. It’s not about downloads, it’s about dollars. But the fact is, when it comes to making money with apps, the best thing you can do is to make rich developers even richer. That’s right. Instead of trying to sell your own apps, sell theirs.
To get more info on how to develop and sell your own or another developer’s app, first click on Bluecloud Solutions => bit.ly/X1eGOn, then click on, How To Make Your Money Back => bit.ly/U8oGpl at the bottom of the blog, as well as the other links at the bottom of the page. To buy info on how to develop and sell your own app click here => bit.ly/WFQTEn and bit.ly/VRlxqt.
5. Membership Site: If you’re an expert in something and you want to go beyond just blogging about it online, creating a membership site can leverage your time significantly; and, if done right, can be a sustainable online business. But first you need to think about the following:
- Why you’re creating a membership site and the benefits of doing so
- Determine if there’s a big enough audience for your site by testing your market
- Map out what your product is going to look like with the features and benefits of your site
- Think about if your site will be created with a sales page or a sales funnel
- What forum software to use to build your site
- Which membership plugins you’re going to use
- How you’re going to facilitate member interaction (Forum? Comments? Both?)
- Do you intend to use video content inside the site?
To find the answers to the questions above click here => bit.ly/Z6TKsm, bit.ly/1587OlQ and http://www.membershipsiteowner.com, and also click bit.ly/X1o1G1 to see if a membership site is right for you, or you can purchase the “How To” info here => bit.ly/Wpd9jD.
6. Private Label Rights (PLR) is one of the most effective ways to make money online. You must first understand that PLR begins with the understanding that “Content is King.” Creating the content yourself can be a daunting, time consuming task and PLR content solves that problem. A good source of PLR content will supply you with a lot of good material in a lucrative niche and then all you have to do is properly select the material (find a good PLR membership site with quality material and lots of it – www.plrmonthly.com) and then utilize that material (have a solid grasp of Internet marketing in general, adequate resources to launch it, edit the PLR content and/or optimize material based on specific keyword research).
Next, employ the theory of repetition – have multiple products, multiple sites and thus, multiple income streams:
- Create a website for your chosen niche market and resell the PLR content with your name on it
- Increase price of PLR material my coupling it with an OTO (One-Time Offer) with a Podcast (audio) synopsis of each chapter and also an up-sell of a video containing a PowerPoint or slide presentation containing a synopsis of each chapter. See the largest collection of resell and PLRs => www.idplr.com/.
- Package content as a complete home step-by-step study eCourse by separating the chapters for each step (great for self-improvement content)
- Create a website for a particular niche market containing PLR articles on niche and convert into a Google Adsense site
- String several articles together to create a print-on-demand eBook for sale or give-away (go to www.lulu.com/ to find out how to self-publish and market on Amazon)
7. Sale of Electronic Goods: The process of selling electronic goods can be almost completely automated, making the sale of documents, e-books, music, videos, and whatever else can be delivered via electronic means a way to generate passive income. Some of the main costs involve initial creation, marketing (and everything that might entail such as creating and managing a website), and ongoing customer support (for problems with purchases, downloads, or using whatever it is you are selling).
8. Cashing in on Fiverr: Fiverr.com is a website where everything is available for $5. People offer various services ranging from software installation to creating silly videos. It is really simple to use and very easy to get started. Get registered for free, create gigs offering your services and get paid through PayPal. What kind of gigs? Recording video testimonials, writing poems, installing WordPress, creating logos and just about anything.
9. Purchasing a Business: If you set up a business correctly, almost any business can generate passive income for the owner. As the business owner, you can ensure your business doesn’t require your direct involvement to perform its day to day operations. It involves employing a manager to oversee the operations and keep everything running smoothly; employees to provide the service or make the products your business sells; and, if necessary, a marketing team to ensure longevity with incoming customers. When your business operates efficiently, each of your employees are paid, the operating expenses are paid, and whatever is left is your profit as the business owner.
Franchises often offer the opportunity to set up an already-established and proven successful business format, but will require a high investment cost upfront. Depending on your financial situation, you can invest in an already-successful franchise operation and make smart hiring choices to generate a substantial profit, and even launch a new career path for the future.
10. Interest, Dividends & Capital Gains: It’s difficult to find a more pure means of generating passive income than earning interest, dividends and capital gains. The methods you use for saving and investing your money can be analyzed to find more effective ways to earn larger sums of money. Here are just a few ideas to consider:
- Higher Yield Accounts (savings accounts, money market accounts, and CDs) – Shop around online and offline for that offer a higher interest rate on the money you already have
- 401(k) Employer Match – It’s difficult to find a better return on investment than you can get with an employer match in a 401(k). A match usually means that the employer matches your investment at 50% or 100% of what you put in, up to some maximum limit. There aren’t too many other ways to earn an immediate no-risk 50% return on an investment.
- Dividends – When you invest in a public company that offer dividends (such as utilities, energy companies, and some retail companies) you receive a portion of the company’s profits that it pays to its shareholders. Although the value of your investment will also increase or decrease with the share price of that company, the dividend yield may stay more constant.
11. Freelance Writing:If you want to get paid immediately, find a website or client who needs articles, e-books, newsletters and guides. Offer them your writing service for a fee. You don’t need any investment or any website. Though payments can be less than $5 per 500 words, it’s nonetheless a quick way of making some money. You can find writing gigs on Fiverr, Elance and Craigslist.
12. Drop-Shipping:Like reselling web hosting and domain names, you can sell almost anything by collaborating with manufacturers that offer drop-shipping. This involves the manufacturer shipping the product to customers on your behalf. In a drop-shipping business, you collect the order on your website and then instruct the manufacturer to ship the product to your customer. The manufacturer gets paid its price and you keep the remainder. It’s that easy!
13. Peer-to-Peer Lending (P2P): This is probably the oldest form of lending, like simply lending your friend a $1,000 down-payment for a car in which your friend agrees to pay you back $1,100 in a years’ time (10% interest), or $91.66 per month for 12-months. You make the loan based on your long-term or good relationship with a person in lieu of his/her good credit rating or collateral ($2,000 coin collection).
Modernly, P2P lending is now online, where it has become a big business where 3rd party websites match lenders to borrowers in order to establish good relations between the parties and make both people feel more comfortable with the transaction. Of course, as with any other business, there is always a risk involved, such as the obvious, the borrower not paying you back.
However, Internet P2P lending sites (www.lendingclub.com or www.prosper.com/) attempt to significantly eliminate this risk by not accepting borrowers with less than a mid-600 credit score. However, a good way to mitigate the risk in P2P lending is to diversify your investment by lending $200 to 5 people or even $100 to 10 people. The chance that all borrowers will default on their respective loans is remote.
14. Tax Liens & Tax Deeds: Local counties raise money to provide benefits and services to the public via taxation. One type of taxation is real property tax, assessed based on the value of that real property. This tax is generally collected by the county where the property is located. If the owner of the property fails to pay the tax, the amount of the tax becomes a lien against the property. A lien against the property, however, does not help the county and local governments pay for the services and benefits they have promised to provide for their citizens. The county needs the money now, not some time in the future. It needs that money in order to fulfill its budgetary obligations. By state statute, each county is authorized to collect the taxes due that remain unpaid by selling at public auction, either a Tax Lien Certificate or a Tax Deed.
In order to begin the process of investing in Tax Liens or Tax Deeds, contact the Tax Collector or Treasurer’s office in your county and find out the answers to the following questions:
- When will the county be conducting the next Tax Sale?
- Where will the sale take place? (Get the address, room, and time of sale)
- How can I get a list of the Tax Liens/Properties to be auctioned? (Sometimes, the county will have copies available at their offices. Most likely they will refer you to a local newspaper that prints the sale notice and list of properties or liens to be sold)
- How can I get the Rules of the Sale? (The terms and conditions of the sale including pre-registration requirements and methods of payment).
- If it’s a lien sale, what is the interest rate? How is it calculated?
- Does the county have any unsold Tax Lien Certificates or properties from the last sale?
- How do I get a copy of the list?
If the answer is “No” to question 6 ask, What happens to the unsold Tax Lien Certificates? Just keep plugging away asking as many questions as you like to get the list. If one clerk is disagreeable, hang-up and call another time and talk to a different clerk. This is public info and they should give it to you.
15. Vending Machines require multiple skills and intangibles. For example, you should learn how to personally repair your machines, like the coin and cash reader and cooling system. You should have multiple locations already lined up (family or friend’s business), as 99% of machine value is connected to its location. Consider foot traffic, safety, electricity, and net enough money per item to cover your costs (product, time, gas, vehicle wear & tear, etc.). Candy, drink and food product machines are the easiest way to get started. Find businesses that will disclose good locations in your area and get agreement in writing from location owner. Once this is accomplished the key to success is your efficiency (the more often you have to visit and service your machines, the less your ROI – Return on Investment). Getting a group of machines in close proximity to each other is your best chance at success, which cuts down on time spent traveling and servicing your machines.
For more detailed info on how to make money with vending machines click here => www.bestvendinginfo.com. For info on where to buy new and used machines click these links => www.usedvending.com, www.sweetspotvending.com, http://southernequipmentsales.com, ww.gumball-machine.com/, www.vendingconnection.com, www.vendingworld.com
16. Relationship Marketing is the same as Direct Sales and Multi-Level Marketing (MLM). MLM earns $125 Billion in global sales annually, is established in 150+ countries and over 75 Million people worldwide participate in this business industry. Not unlike a traditional business, multiple levels of people market and sell a product or service to consumers, but rather than strictly a print ad, T.V. or radio, marketing is accomplished via word-of-mouth or by establishing a bond or a relationship with a potential customer. Also, MLM sales representatives (also referred to as a distributors, partners or associates) recruit and train other partners to market, sell and recruit.
Multiple levels of marketing and selling are time-efficient, cost-effective and very profitable. It’s actually what ALL companies aim for (both MLM and non-MLM companies). I’m sure you’ve heard a traditional company say, “Refer a friend and you’ll receive a discount on your next purchase.” This is a form of multi-level marketing. Health clubs, real estate, telecommunications, and countless other industries use this technique. Professionals (doctors, dentists, accountants) greatly depend on their customers telling others about them. All of these businesses are attempting to get current customers to advertise and market their product or service to new potential customers via word-of-mouth.
Relationship Marketing starts by recruiting one person who gets customers and recruits sales reps. This is actually just like a traditional company where a sales manager and sales reps are hired by the company and once the manager is overwhelmed, the company converts a sales rep into a manager who then manages more sales reps hired by the company. This is called “Multi-Width” marketing because it expands the organization horizontally as compared to MLM, which expands its organization vertically.
With Relationship Marketing, each and every distributor is given the option to become a manager who can recruit sales reps. What an incredible opportunity! With MLM you don’t have to put in years and years of hard work and dedication and then maybe by chance and good luck get promoted to manager, but hire associates of your own immediately and get promoted right away along with a managerial raise.
Relationship Marketing companies only pay commissions, not salaries: This means that there are no limitations on the number of sales reps or managers an MLM company can recruit. This is beneficial to the company because rapid expansion of the number of trained sales reps increase company profits. This is also beneficial to the sales reps because their income isn’t limited to only what they can sell, as they also earn commissions on what their recently trained distributors sell, and on what the distributor’s distributors sell, and so on down the line sometimes 10 levels deep. In other words, people who work hard to build their team are rewarded by their personal efforts and can make up to 6-figure earnings within a years’ time.
Organically, the Relationship Marketing industry is an incredible economic model. By “organic,” I mean that if you take away all the bad connotations and all the hype, and just look at it from a business stand-point, it is the purest way to move a product to the end-consumer and the purest way to be compensated. Here’s why. In its organic state one person shares a valuable product or service with another (not because they will profit, but because the product is valuable). In essence the associate is saying, “I like it, maybe you’ll like it too.” That is clean, pure, honest and friendly marketing.
A person is merely sharing a business idea with another person. This is the foundation of all businesses throughout history. “I found a business I like and maybe you’d like to work on it with me.” This is clean, pure, honest and friendly business. The person who shares the business with another ONLY profits IF the person they shared the business with succeeds – that is ultra-responsible. This is clean, pure, honest and friendly compensation.
Relationship Marketing vs. Pyramid Scheme: The structure of the company is the deciding factor. If the company has little or no product or the product is excessively expensive, it is a warning sign. Also, a definite warning sign is if the main or only focus is bringing in new members that pay a membership fee and there are no products. The negative connotation of Multi-Level Marketing has come from many years of claims of companies that offer no product sales; direct sales reps only use of the products; encouraging recruitment into the company instead of product sales; required distribution of the product on a monthly basis to both the sales rep and the consumer. However, with the FTC closely watching questionable multi-level companies for illicit actions and if so, shutting them down, it’s safe to say that most companies today that are structured in multi-tiers for compensation are legitimate businesses.
To get more info on MLM history, how and why it works, as well as pyramid schemes click here =>Discover The Truth Behind The Passive Income Business Model
So, tell me. What Income Producing Asset are you pursuing right now or would like to pursue? This list is not all inclusive, so if I’ve left out a lucrative, money-making idea, please let me know by leaving your thoughts in the Comment area.
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