I recently read this older story about “The Drudge Report.” Prior to reading this story, I never paid any attention to the The Drudge Report. I honestly try NOT to consume news, because it’s extremely depressing. The article is titled:
“It’s Time People Realized That The Drudge Report IS A Major Media Property Worth Hundreds of Millions of Dollars.”
The Drudge Report is a website that aggregates various news stories from around the world. Apparently this site is owned and managed by one person, Matt Drudge. The article estimates the site’s revenue back in 2012 at $15,000,000 to $20,000,000 per year. The article continues by sharing that the site has very minimal costs leaving a significant portion of this revenue as profit. In other words, it’s a cashflow machine.
If you’ve never been to the site, go check it out here.
Here’s a screenshot from the site as I write this:
See anything fancy? Nope.
Want to know the crazy part? I will quote from the article:
“One of the most remarkable things about The Drudge Report is that the site’s content still consists primarily of original headlines linked to stories elsewhere on the web. This is a highly innovative and efficient media model, one that takes full advantage of the amazing capabilities of the Internet.” The majority of the content for this $20,000,000 website is provided by other websites.
“Rather than creating a huge newsroom itself, the Drudge Report uses the whole digital world as a newsroom.”
Each headline clicks through to an article on another website.
Let’s think about this for a minute…
The Drudge Report leverages content created by others. Facebook does the exact same thing.
Mr. Drudge sees the internet as HIS asset. He has leveraged HIS asset to create income and wealth.
One of the most powerful exercises anyone can do to create more income is to identify their assets and figure out ways to generate new income streams for these unleveraged assets. You can see exactly how to do this here. I share exactly how step-by-step. Please take time to do this exercise. It will be very profitable for you! I promise.
In my “unleveraged asset” exercise, the goal is to identify assets we own and/or control. Mr. Drudge (and many other wealthy people) have gone one step further. They look for assets owned by others and then figure out how to turn those assets into their income stream.
I’ve been writing about Airbnb a lot over the last few weeks. Airbnb does the exact same thing. It generates significant income from real estate owned by others. Uber generates income from cars owned by others.
It seems we have two potential opportunities with this idea of leveraging assets owned by others:
1. Start looking for ways to create income from assets owned by others. Copy the strategy for ourselves and create our own businesses leveraging the assets of others.
2. Invest into businesses that create income from assets owned by others. (Example: Airbnb, Facebook, Uber, Amazon, Alibaba) These businesses tend to be very profitable because they don’t have to invest their money and resources into building or acquiring assets.
Back when I was building my real estate business, I viewed homes listed for sale by other agents as my inventory. I could turn these listings into my income by selling them to my clients. I could advertise someone else’s listing and use it to generate leads for my business. I could package other agents listings into a unique “hotlist” and use it to convert leads into sales. The best part was I didn’t have to spend the time and money to get any listings. I didn’t have to advertise these listings. I didn’t have to sit at open houses. I didn’t have to appease the seller for months when their home didn’t sell because it was over priced. The listing agent had to do all of the hard work getting the asset. I could avoid all of this and still make money.
This is also why I see property management as one of the best businesses. It allows you to create monthly income streams from real estate owned by others. The owners of the real estate assume 100% of the risk. You have zero debt and zero risk, but can collect a portion of the monthly rental income.
Think about the money management business. It’s the exact same thing. Money managers profit from money owned by others. They don’t have to work their asses off to create (or save) the money. They have zero risk and create recurring management income.
Take some time to really think about this because the this idea may allow you to get to your financial goals faster. Here’s the million dollar question we should always be pondering:
HOW CAN I TURN YOUR ASSETS INTO MY INCOME?
How can I profit from real estate owned by others?
How can I profit from websites owned by others?
How can I profit from businesses owned by others?
How can I profit from clients and databases owned by others?
How can I profit from listings owned by other real estate agents?
Don’t get me wrong, I’m still an asset guy. My mission is to buy or build as many income producing assets as I can. However, I would be foolish to ignore this strategy. So would you.
I’ll be scheduling a webinar in the next few weeks detailing how you can create an attractive monthly income from Airbnb webinar without having to own any real estate. If you would like to be notified when the webinar is scheduled, enter your email below and I’ll email you once the details are finalized.
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