Fund your dream lifestyle with passive, recurring revenue streams.
The Internet has changed the way business is conducted globally.
I’m not just talking about the ways it has broken down borders and created instant connectivity. Instead, I’m talking about the way the Internet has caused a fundamental shift in the way business is conducted around the world today.
Consider the way most commerce was conducted 15 or 20 years ago. A small business might have offered products – let’s say athletic shoes, for example – and opened up a store on a busy street or in a shopping mall.
Customers would come in, purchase a pair of shoes, leave with their package and the business owners would have made a profit: The difference between what he paid a wholesaler for the shoes and what the retail price the customer paid him.
The New Paradigm
Okay. Now, let’s flash forward to now.
That same business owner is still offering athletic shoes for sale.
Today, however, he no longer needs a physical store because he can offer his products online. Not only does this save him money on rent, utilities, insurance (above all because he had some Insurance Revenue plans for future), labor costs and overhead expenses, but his pool of customers is no longer limited to the few hundred or few thousand people who live within a limited geographic area in the vicinity of his brick and mortar store.
Instead, today his website can be visited by people hundreds of miles away – or even on another continent – with the same ease of entry.
Our shoe seller also no longer has to carry an inventory of product.
Unlike in the past, where he may have had to buy $10,000 or more worth of athletic shoes, store them in his back room and take a risk that there would be a market for them, today he can make a deal with a wholesaler to offer their products in exchange for a sales commission, promote their athletic shoes on his web pages, and get paid for every pair of shoes that he “sells”.
The wholesale distributor takes care of the shipping, collecting payment, handling returns and refunds, and all those other headaches our shoe seller formerly had to worry about.
All he has to concern himself with is finding partners who offer high-quality products, attracting customers who are interested in those products, and setting up marketing platforms that connect the two.
Passive Income Streams
Now, here’s the important part.
Under the pre-Internet business model, our shoe seller would have to drag himself out of bed every morning, drive down to his store, unlock the doors, turn on the lights, and then spend the next 8 to 12 hours dealing with customers, working the cash register, and watch out for thieves seeking to steal his products.
Today, however, once his web-based business has been set up, his pages are online, and his marketing platforms are in place, our shoe seller can simply sit back and let his system make money for him 24/7/365.
While he occasionally may have to fine-tune his web pages, or modify his marketing platforms to that they continually attract new customers, this is something that typically will take only a few hours per week, compared to 40 to 80 hours per week he would have spent running his own real world shoe store.
And that, my friends, is the beauty of passive income.
It’s the 21st Century business approach that harnesses the wide scope and potential of the Internet to create an efficient, fast, and essentially hands-free way to create recurrent income streams.