Think you could use more Money? Focus on residual income streams.

Posted in Business on 23. Feb, 2010

A money tree would be nice

Do you ever wonder if it’s possible to make a living on the internet? I have been studying internet marketing for quite a few years part time now, and today someone put it all together for me. I had the great pleasure of spending the day with internet marketer Armand Morin, over in Australia from his home in the US.

This man really knows his business, in fact he seems to know just about everyone’s business! He says his own business is currently running at about $22 million dollars a year, and many of his students are in the multi millions themselves.

If you’re on Facebook , have you ever played Farmville or wondered what the heck everyone else seemed to be doing who is playing Farmville? Well, apparently this, along with Mafia Wars, were the mastermind idea of one of Armand’s clients, Mark Pincus of Zynga Games. As well as Wishlist, the plugin membership site software that we’ve all been waiting for.

In fact I have met quite few of Armand Morin’s past students here in Australia and the ones he told me about I know t be very successful and effective marketers. The ones who’ve been able to apply the internet marketing models to their businesses, implement some systems and shoot past those of us still trying to figure out how to put the pieces together like a jigsaw puzzle or house full of Ikea flat pack furniture!

So I became a student and am going to become even more of a fan of this amazing man, and the good news? I’ll be sharing what I’m learning wth you.

Today’s big learning: Everytime you set up a business deal for yourself…. think about the opportunities for residual income, and plan them in.

In fact when you think about it, this principle also applies to real estate investing, investing in the stock market, what kind of food you bring into your home to nurture your body temple, and which appliances you should turn on or off in your home. It’s even relevant to your education and investment in yourself.

You don’t have to look far for proof that it works, just start with the worlds most successful businesses. The really clever thing that Bill Gates, of Microsoft, did was to move the computer software industry from a ‘sell it once’ business model to a licence the product and charge a recurring and ongoing fee for it. Warren Buffet, of Berkshire Hathaway loves his insurance companies and newspapers.

Create an awareness of the power of this model, and try to build it into everything you do from now on, and you could end up with a lot of streams of passive and ongoing income. This is my philosophy with www.MillionairesMasterClub.com, I had a client base of millions, and I was looking for income producing solutions to offer them. I found so many that I decided to put them into a tv show format that would give me the opportunity to show the opportunities over and over on an ongoing basis. This added the leverage factor. And that can be the topic of another blog!