(inspiring music)
- Multiple steams of income is a big fucking myth.
If you have not watched my video
on multiple streams of income
make your you click on the icon and watch that right now.
Now, instead of talking about multiple streams
of income, today I'm gonna teach you
multiple ways of getting paid.
In fact, I'm gonna teach you seven ways
that you are paid in life, 97%, 3%.
97% of population are dead, or dead broke by the age of 65.
Only 3% succeed financially.
The 3% and the 97%, the way that they are paid in life
are very different.
So let's talk about the first way that you are paid in life
and that is paid per hour.
That's right, you're getting x-amount of dollars
for every hour that you work,
for every hour that you contribute your time.
Example, you're working at a fast food place per hour.
You are lifting boxes, they're paying you what?
Per hour.
Usually people that get paid per hour
are lower income earners.
The second way you get paid is paid per week,
or paid by weekly or paid per month.
We call that a what?
A salary, right?
Every single week, or every two weeks,
every month you get a paycheck.
That is a salary.
So you get paid per month.
What's the problem with the first two ways?
You see, in the school system,
and this is what pisses me off.
In the school system they only teach you how to earn
and how to make money with the first two ways.
Pay per hour, or pay per week, or pay per month.
They never teach you the other five ways to make money
which I'm gonna teach you today.
See, the rich people, they don't get paid per hour.
They don't get paid per month.
They get paid by these five other ways.
So number three.
The third way you get paid, is pay per project.
Example, as a consultant.
If you are charging your clients,
let's say a two month term, a three month term
or a certain milestone, a certain outcome.
But completing the project, you get paid per project.
For x-amount of dollars.
So as a self-employed, as a service professional
you can get paid that way.
That's way number three.
The fourth way that you get paid in life,
it's pay by recurring.
I love the recurring model.
All my students and mantes that they know
that I'm more about recurring.
What can we do to generate more recurring revenue
within the company?
So you think about some examples in life.
Example could be a subscription model.
Netflix, it's a paid by recurring model.
You're paying a monthly fee to have access to movies
from the comfort of your own home.
Your cable, your internet, it's a recurring model, right?
They charging a monthly fee.
A data plan, to use your cellphone, to watch TV,
that is a recurring model.
Now why is recurring so powerful?
Because the most expensive sale you'll ever make
is to first sell, acquire the customers.
Once you acquire the customer, every single time
they use the service or they don't use the service,
you will be getting paid.
It's a very powerful concept.
Paid my recurring.
I have a friend of mine who runs a gym membership,
and he would tell me he would oversell the capacity.
So example, let's say this gym could only handle 500 people.
He would see the membership to 1500 people on recurring.
Why?
Because he knows most people, they buy the membership,
they don't actually go there everyday.
Only a small percentage of the people go to the gym
at any given time, right?
And some people,
they might sign a one year contract, two year contract.
They go there, you know the beginning of the year generates.
They go there for a few months, life gets in the way,
they get busy, they don't go anymore.
But the gym owner is still getting paid,
recurring every single month.
So pay by recurring.
Fifth way that you're paid in life
and that is pay by royalties.
Pay by royalties.
Now, what do I mean by that?
Pay by royalties example, as an author,
I've written now 13 books.
There are books on Amazon.
I have all the books on Audible.com.
Every single time someone, maybe you're my fan of my work,
you go there and you buy a book.
I get a little royalty every single month
from Audible, from Amazon.
That's pay by royalties.
Song writers, they get paid by royalties.
Movie makers, sometimes directors,
sometimes movie stars, actor, actress.
They get a piece of the action,
they are also paid by royalties.
So, think about what are some of the ways,
'cause when you are getting paid by royalties,
even though I'm making this video right now,
I'm getting paid even when I'm sleeping.
I'm getting paid 24/7, just like this.
So pay by royalties.
Way number six, and that is pay by transactions.
Pay by transaction.
I want you to think about Ebay.
I want you to think about PayPal.
I want you to think about Amazon.
Every single time there's a transaction that took place
they get paid a little bit of money.
Visa, Mastercard, every time you use or swipe
that credit card, every time you use it.
They're not actually providing
any service except convenience.
But every single time you use that card
they get paid a little bit of that transaction fee
and that's how they make billions of dollars.
Last way, way number seven.
You get pay by results.
Get paid by results.
As an entrepreneur we get paid by results.
Even though we have an idea, we spend months
and years working on and until we can produce results
in the market place, we take it to the market place
and see that the market place likes it
and responds and buys, we won't know until we do it.
That's getting paid based on results.
Or example, let's say if I'm working with an entrepreneur
with a company.
Example, let's say they are doing 10 million dollars a year
and I wanna help them grow to 20 million dollars a year.
Well, if you can help them do that,
I will negotiate a deal from 10 million
if I can take it to 20 million,
I generate extra 10 million dollars in sales for you
with what I do, with what I know,
I will get a piece of the action.
Let's say I get 5% or the deal.
500K that I make.
That's get paid based on results.
You see, rich people, the 3%,
they get paid based on the last five ways,
not the first two.
The 97%, they get paid the first two ways.
Why?
Because it's not taught in school.
In school they don't teach you
how to generate recurring income.
They don't teach you how to generate
income based on royalties.
So transaction on results.
It is designed to keep you a slave,
it's designed to teach you how to get that pay per hour
or per month.
Get paid on results, what does that mean?
I don't produce results it means I don't get paid?
That's correct, that's correct.
All these five others ways, royalties,
I will not get there royalties
if I don't spend months working on the book.
It's a delayed gratification.
Transaction is the same thing.
If I don't have the skill to facilitate a transaction.
Example, let's say I'm a closer.
I'm closing sales.
If I cannot close, I don't get paid a transaction.
I don't get paid a commission fee.
I need that skill in order to do that.
Royalties, transaction.
All these different things, different ways to make money
to get paid, you won't develop, you won't be able to do that
if you don't have the skills,
and these skills are not taught in school.
If you don't want to get paid like the 97%
and you wanna get paid like the top 3%.
Click the link below, I'm conducting
a special two hour master class designed to teach you
some of these other ways to get paid.
How do you get paid based on results,
how do you get paid based on transaction.
So there's no ceiling to your income.
So you can make as much money as you want.
So click on the link below
and join me on this special class.
Before you go, I wanna leave you with one thought
and that is this.
Rich people, we get paid before we do the work.
Poor people, they get paid after they do the work.