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Episode Info:

One of our guiding principles is to help people think about earning money in ways way beyond their paycheck. That’s what the 7 Sources of Residual Income are all about.

On our latest duocast, we dive into 4 of these sources that you might not think of. Some of them you might even dismiss as something you can’t or won’t do. We dig into royalties, subscription models, affiliate and network marketing, and try to take away some of the mystique and misconceptions around them. Never say never!

You might be surprised at the ways you can receive royalties on your original work. You might be surprised at the number of millionaires who are network marketing experts. You might be surprised that your business could be the perfect fit for a subscription model, giving you consistent cash flow and a solid client base. You might be surprised at what you can earn on what has been a hobby for you, through affiliate marketing.

And as usual, we don’t mince words. We want you to understand best practices around these income streams. Excellence and mastery are earned, so easy riches are not part of the conversation here.

What You Will Learn in this Episode:
  • The different categories of royalties
  • What real diversification looks like
  • 3 sources of residual income to turn hobbies into cash flow
  • Why licensing an invention might be better than building a business around it
  • Earning money with your content through affiliate marketing
  • Similarities and differences between subscription and affiliate models
  • How a subscription model could bring consistent cash flow to your business
  • Why subscription models are a win for both the client and the provider
  • How network marketing is done right

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