I have found some very unique ways to make passive income. To make residual
income where that income comes in without my time. This really works and
you can do it right now.
Let me start out with a story. Okay, this is going back 10 years ago. 10 years
ago, I worked in sales for an internet marketing company. But I also was an
independent contractor. They paid me 10 to 12 dollars per article. And I
would write the article and they'd pay me the money. So they would assign me a
topic to say, "Hey, write an article about this." So, I would write 500 word article
sent it to him they pay me 12 bucks. They used that article for their
internet marketing, right? They would send it out and have that article link back
to a website and stuff like that. So, here's where the story gets interesting.
As soon as I got that job, I was learning more and more about hiring people in the
Philippines and how easy that is. So, I actually hired a writer. This is the
first person I'd ever hired outside of the country. And I hired a writer and
sent her some of these topics. Saying, "Hey, will you write these articles?" Now, get
this. I was paying her 2 dollars per article, okay? And she was willing to do
that. That was a great living for her. But you understand the leverage so that
gives me, if I pay her $2 for the article turned it in to the company and they pay
me 10 or 12 that's a pretty good spread. And so at first, there was a
little bit of a learning curve. I'd send her the article. She'd send it back to me
I'd make a couple tweaks for grammar and whatnot and give it back and I tell her
about those tweaks. She send me another one, make some tweaks tell her about the
tweaks, send it in. Over time, it became... It seemed what I thought was perfect. So, I
was not writing any articles anymore but I was submitting like 4 or 5
articles every single day. Now, this story has kind of a funny ending. Because I got
so lazy and just like, "Oh, this is great. I don't have to do a thing." I kind of
forgot about quality control. And after a couple months of doing this, I thought
I'd better check in. So, I grabbed one of the articles that we had recently
submitted. And I just did a check on it. I send it through grammarly to check for
plagiarism. And I found out that the assistant that I had hired had started
taking shortcuts and just started piecing together things that she had
found to speed up her process. She didn't rewrite it and make it her
own wording. It was just plagiarized content. That's like, "Oh, no." And I found
out the previous 50 articles she had used that approach for. So, I had to go in
and tell my boss. Because I didn't want to get in trouble. I believe in
integrity and and creating quality content and I had been paid on 50
articles that were plagiarized. And so, I went in I told my boss what I'd been
doing. My boss actually thought it was funny. He
just laughed like, "That's hilarious." That that I was hiring somebody else to write
the articles for me and making the spread. But he wasn't the decision-maker.
So, he sent me to the supervisor which was a young kid. Younger than me at the
time. And he got mad. He gave me permission to rewrite those articles so
I didn't have to give that money back. But he didn't let me have that position
anymore because he says, "Well, I can to start somebody in the Philippines."
Maybe they did after that. That would be smart, right? So, I did let that person go.
But man, that gave me a taste. That gave me a taste of what it was like to make
passive income. So, what did I do next? I started my own web design company of
course. So, while I was still working there, I actually had been learning how
to design WordPress and Joomla websites. Just create a custom design from scratch.
And I advertised locally on our classifieds and I found 2 guinea pig
clients. They were willing to pay me $500 to design them a custom website. After I
did that and delivered the website to them, they were happy. I decided to quit
my job and start designing websites for people full time. But very very quickly, I
hired a team and got up to ten full-time employees within the next few months.
I wasn't designing anymore. I had systematized my process. We actually had
4 steps. So, first you've got to get input from the client on what looks good
to them what type of website are they looking for. Then he created mock-up
designs. Okay, so I had four steps. I created this system and I hired graphic
designers in the Philippines to do these designs and then turn that into a
WordPress or Joomla website. It was so amazing.
All I had to do was market it. All I had to do is find the customers and I
started to automate that as well. I put my sells
presentation into a YouTube video. So, when I would call people, I'd say, "Hey,
I've got a great web design service. Can I send you a video that tells you all
about it?" They'd say, "Yes." So, I'd email them the link to that YouTube video. And
I just kept doing that. and then eventually I found a way using LinkedIn
and using Craigslist that I could market to people. But then I hired somebody in
the Philippines to start doing that for me. So I was sitting back, all I had to do
is wait for the phone to ring because my team was marketing my services on
Craigslist and on LinkedIn. And my promo videos were being watched on YouTube. I'd
get a phone call they'd say, "Hey, I watched her video. I learned about your
service." They might have a question. But I didn't really have to give him a sales
presentation because they already got all that through my my system in my
videos. So they'd asked me their question and then they give me their billing
information. And I'd send it up and I'd sign them up. And I would give them to my
team. So, I'd get a phone call. They'd want to pay me five hundred bucks for a
website. I'd get their credit card information, my team would do the rest. It
was so awesome. You know, that is like residual recurring revenue if I've ever
heard it. So, what am I doing today? Well, I produce YouTube channels. I'm a
YouTube producer. My clients fly to Utah and I go there for the first few hours.
But I've actually got a filming team that films with them. They filmed 20
episodes at a time. They upload that content to Dropbox. And then my team in
the Philippines does the editing does the thumbnail design, does the
transcription. Does all the work getting it ready on YouTube and scheduling that
launch. And they actually communicate directly with my clients. So, I go out and
I speak and I make these YouTube videos and clients come to me and say, "Hey, Nate.
I want you to produce my YouTube channel." So then, you know, I give them some
coaching. I help them on strategy. They get into a year program with me and my
team. And my team does all the filming, my team does all the editing. They do all
the work. Question for you: Can you do something like this? It's about
leveraging your time. You don't want to trade your time for money. And I still do
that occasionally. And it's crazy to think that I turned down consulting.
Because my consulting rate right now is $1,000 per hour. I just did some
consulting earlier this week. They hired me
four hours $1,000 per hour. But it's not the best use of my time.
Isn't that crazy. It's still crazy for me to think about that $1,000 per hour. Yet,
my leverage time is worth a lot more than that. And it's not as taxing on my
brain. It doesn't take so much energy out of me. Because I've got a lot of energy
and I'm putting it into creative things and creating more systems creating more
businesses. When I'm putting that time into consulting, I am leveraging time for
money and a higher rate than I have in the past. But it's not creating more
potential for the future. So, I would love to hear your ideas of how you're going to
create passive income. Now, in the comments below, it doesn't allow links. So,
please don't share links to your company or to an opportunity or things like that.
But just tell me about it. I'm very curious of what you've found ways that
you're doing. And I am looking for more opportunities that I can be a part of
where I can create that same type of leverage.