What I’m about to share is something that is extremely important; however, I’m not sure I’ll be able to convey its true power. I actually write about this all the time, but most people still miss these opportunities. In fact, most people see this in action on a daily basis and never copy it themselves. 🙁
You can structure things so that you
get paid for (almost) everything you do.
For most people, they only get paid when they go to work. They don’t profit from any other activities. The crazy part is that you can turn all these other activities into income.
Back when I became interested in investing in real estate, I was working full-time as a CPA. Instead of running out and buying my first property, I went and got my real estate license. The main reason was so I could get paid to buy investment properties. This way I could get paid for building wealth.
As I learned to become a better real estate investor by reading every book I could get my hands on and through my own experiences, I created my own Rent To Own System for single-family homes. I turned this system into an information product and started selling it.
My Rent to Own System was working so well that I ended up using it to build my real estate brokerage, teaching other investors how to use my System to make more money from their investment properties.
2. Business around info-product.
To build my real estate brokerage, I had to learn direct response marketing. This included writing lead generation advertisements and sales letters designed to get new clients. Through trial and error (along with a lot of testing), I finally created a compelling advertisement that attracted high-quality clients to my real estate business. I turned my advertisements and my marketing system into a new information product and sold it to other real estate professionals around the world.
The reality is that you can usually create a minimum of TWO income streams from every skill you develop. You do this by turning your skill into a SYSTEM.
Stream #1 – by selling your system as an info-product
Stream #2 -by building a new business around your System.
It really doesn’t matter what your system is because you can turn it into a product or a new business.
My suggestion is to do this around things you enjoy.
I enjoy creating cashflow. I try and learn everything I can about how to create cashflow. I also experiment with different strategies to build cashflow.
Guess what my membership is about?
Right this very minute people are getting paid to draw, paint, color, write, eat, read, exercise, speak, clean, model, invest, take pictures, drive, shop, vacation, fish, race cars, fly, swim, run, bike, sleep, play with dogs, etc.
Seriously… people get paid for virtually everything we do in life. This basically means you have unlimited opportunities to paid in YOUR life.
Maybe the best example of this might be Marie Kondo and her system for getting organized. In a nutshell, she has a System for closet cleaning. She calls her System the “KonMari Method.”
Consider the various ways she profits from her closet cleaning system:
1. She’s written several books. (Info-products)
2. She’s turned her closet cleaning system into a high priced, done-for-you business in which she charges celebrities large fees to help them clean out their closets.
3. Her business started selling closet-cleaning certifications to other people who’ve participated in her Consultant Certification Course.
4. To maintain their closet-cleaning certification, her certified consultants must pay an annual membership fee of $500. (Recurring annual income).
5. She turned her closet-cleaning system into a reality TV show and sold it to Netflix.
This show is selling more books, which will pull more customers into her business. All of this from cleaning and organizing closets. 🙂
If someone can turn a closet-cleaning system into a multi-million dollar business, what might you be able to do?
Here are two different approaches you can use to do something similar:
1. Think through the various things you enjoy doing and/or the things that you might be especially good at doing. Turn those things into systems other people can use to do what you do.
You undoubtedly excel at many things. Pick one thing and turn it into an information product. This would allow you to turn your ideas, strategies and experiences into a new income stream.
2. Create a system to solve a problem you’re having. Sell your system to other people who are having a similar problem.
For a head start on this approach, read my article on how to “think hard” here
The basic idea is to choose a problem you’re having and ask yourself this question:
How can I ________ without _________?
How can I drive an awesome car without having to make car payments? Answer your question with as many ideas as you can. Take the best idea, and put it to work in your life.
Create a System around what you’re doing.
Turn this System into an info-product.
You could then turn your System into a new business.
You just got paid to solve your problem!