How to make money while you sleep!
A guide by Jim Connolly
In this article, I am going to show you how to make money while you sleep. To make money while you sleep (or go to the gym or take your dog for a walk) you MUST move away from the traditional way of earning money! Please take time to read this information and PASS IT ON to everyone you care about; as it has the potential to make them a fortune and stop them retiring on a low, fixed income or broke like most of the population!
This morning was a typical ‘workday’ morning for me - I woke up, showered, went for a brisk walk around the village where I live and then played with my two year old son for an hour or so – THEN I looked at my PC to see how much money I made whilst I was asleep last night! It turns out that once again, whilst I was in dreamland I made more money than my late father did in the best week of his hard-working life!
What follows is an overview of how this is possible and also how you too can make money whilst you sleep, go to the gym or lay on a beach!
The first thing I want to share with you is that there are two types of income. One, which is highly-effective and utilised by the most successful people in business and one that is totally ineffective and is used by everyone who retires on a reduced income after a lifetime of hard work - tied to a job or business!
Firstly, there’s ‘linear-income.’
Linear-income is how most people make money; they basically exchange their time for money. The primary problem here is that we each have just 24 hours a day, so no matter how high your hourly rate is - your income will always be capped! More worryingly, when you STOP working for any reason, this income will STOP too! Linear-income ruins people’s lives!
Linear-income is the single least effective way to make money. Even so, some really bright people still rely on it; lawyers, dentists, consultants, trainers, accountants, in fact ANYONE who exchanges their time for money or a fee. Because linear-income has so little value, when a UK accountant sells their practice, for example, they usually get paid just one and a quarter times their annual fee income. For an entire lifetime of long hours and hard, stressful work they usually get just 18-months worth of fees!
Secondly, there’s ‘automatic-income.’
Automatic-income is how all truly successful people make their money. They develop something of value once, which people keep paying them for. With automatic-income, time is not a factor in one’s earning capacity; thus your monthly income is just as high when you are retired or taking a trip to Disneyland as it is when you are ‘working’! That’s right, automatic-income not only offers unlimited earnings – it gives you the best possible quality of life, all of your life!
In addition, business that use the automatic-income model do not rely on a small number of large clients for the majority of their turnover - unlike the linear-income businesses I mentioned earlier. I know companies that rely on just a few large contracts for most of their income and I know scores of business advisors and consultants who rely 100% on business agency contracts for all of their income.
I once relied on ‘linear income’ myself. I travelled around 70,000 miles a year delivering my training. I was paid for each seminar I gave, so obviously, the more days I worked, the more money I made. My seminars were very popular and my fees were among the highest in Europe, so I made a ‘nice’ living – providing your definition of ‘a nice living’ is to spend little time with your family and most evenings driving or flying to somewhere far from home!
So, I decided to develop an automatic-income based business and my life changed beyond recognition! Today, I make more money than ever before, I only ‘work’ a couple of hours a day and my quality of life is superb! None of this would have been possible had I been stuck with the linear-income model that used to dictate; my business, my diary and my life!
My automatic-income today comes through 18 different streams; including the sale of audio programs and information-based products on this web site. The site is open for business 24-hours a day, every day of the year and it automatically handles all transactions safely, securely and promptly. Be really cautious of ANY so-called 'business experts' or coaches who claims to know about business success; if they themselves are working the linear-income model!
Here’s how automatic-income works for me – then how it will work for YOU too!
I record an audio program and place it for sale on my web site. Then, people come to the site and they buy it. So, I record the programme just once, and new people come to the web site and buy that same recorded programme over and over and over again – each time they do, I get paid! Using the linear-income model, to train 10,000 businesses would mean either working with 10,000 businesses over 10,000 days (that’s 27 years working 7 days a week!) or hiring a football stadium and investing tens of thousands on marketing, security, lighting, sound stages etc! Now, 10,000 businesses can be enjoying my material simultaneously all over the world - whilst I am on holiday or writing your next article or newsletter!
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Here’s how to make automatic-income work for YOU!
The GREAT news is that anyone can create automatic-income. Automatic-income businesses include;
Premium-rate phone lines
Affiliate programs
Book royalties
Music royalties
Software licenses (Bill Gates!)
Actors repeat fees
MLM opportunities
Plus many, many more.
A superb way to generate automatic-income is through the sale of information-based products - and this is what I am going to focus on here. This is where you put your knowledge into a book, eBook or an audio programme; so that others can learn from your experience and specialisation!
Are you in recruitment? If so, what knowledge could you put into a book, eBook or audio programme, which candidates or employers might benefit from? How can an employer improve their interview technique? What is the best way to secure the job of your dreams? These are just some ideas to consider. However, if you have already established a successful recruitment business, why not put a guide together for those who are just coming into the profession or whose business is struggling?
Are you in insurance? What are the 10 most valuable things you have learnt about selling insurance products, which someone new to the profession would benefit from? Why not write an eBook about the way your profession has changed since the ‘crazy’ days of the eighties (and send me a copy)? The Insurance profession is one of the most competitive there is - Anything that you can provide, which will help another professional gain an advantage will be of supreme value!
Are you in accountancy? What are the most powerful things a business can do to boost its profits? That would make a great eBook or audio program! What is YOUR practice doing that has made you money, which OTHER practices could really benefit from? What are the qualities that the owner of a practice should be looking for in a potential practice partner and should he or she ‘give’ a partnership to their senior employees or sell it to them?
Are you in sales? What are the 20 most important things a salesperson needs to do in order to succeed? Do you have a secret to sales success or an effective negotiating technique that others could use – share it and make a million! The sales industry spends multi-millions each year on information products - go and grab your share and help others make more sales!
Do you run a small business?
What are the most valuable lessons you have learnt, which a start-up business would find of real value? What are your tips for dealing with the bank or investors? How did you cope with finances during the early years? A real-life guide to starting a small business would make a great book, eBook or audio programme and have hundreds of thousands of new potential buyers each year! You write it once - it sells year after year after year to an endless stream of new people!
Are you in web design? What does someone need to do in order to make their web site as effective as possible? What should someone look out for when seeking a web design company? How can I make my site more search engine friendly? What is RSS and do I need it? A book, eBook or audio programme that explains the role of web design and the Internet to small businesses is something you could consider developing!
Are you in Marketing or PR? What is the secret to running a successful consultancy and what does a new consultant need to know in order to succeed? How can a non-PR person write a release that will get published? What should a person look for when trying to find a really good marketing or PR company? The marketing and PR professions are exciting and their services are required by EVERYONE - so get your knowledge 'out there' in your very own book, eBook or audio programme!
Whichever profession or industry you are in, get your unique knowledge into a digital format and make it available to the world!
Please do not waste another day ignoring the potential of automatic-income. Your future financial success literally depends on it!
To your success,
Jim Connolly
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