697 – Make money over and over: Tom talks Residual Income

Episode 697 – Residual Income
[00:00:08] Welcome to Screw the Commute. The entrepreneurial podcast dedicated to getting you out of the car and into the money, with your host, lifelong entrepreneur and multimillionaire, Tom Antion.

[00:00:24] Hey, everybody, it's Tom here with episode 697 of Screw the Commute Podcast. Today, we're going to talk about a really popular topic called Residual Income. And if you really want to get out of the least amount of work and get this money coming in, then we're going to talk about residual affiliate programs. And this is what allows me to legitimately say I couldn't stop the money coming into my checking account if I tried. And hey, if you're if you're new to marketing in this podcast, maybe you better go back and listen to the podcast on Basic affiliate marketing, which was episode 268. Anytime you want to get to a back episode, you go to screwthecommute.com, slash, then the episode number. Basic affiliate marketing was to 68. And this is also the topic that's going viral for me on TikTok right now as I record this, I've got one short video going to 551,000 views, right? So really powerful topic Now. I hope you didn't miss episode 696 that was on search Engine news. This is a site that I've subscribed to and depended on for over 20 years to keep me up to date on the latest stuff. And it's not just search engine stuff. There's more than that in there, so it's worth taking a look at. Episode 696. Well, how would you like to hear your own voice here on Screw the Commute? Well, I'll have the shows helped you out at all in your business or giving you ideas to help you start a business.

[00:01:58] We want to hear about it. Visit Screwthecommute.com. Look for a little blue sidebar that says Send a voicemail, click on it and talk into the phone or computer and tell me how the shows helped you. And hey, put your website on there also. And so we can give you a shout out at screwthecommute.com and then click on the little blue thing. That's a widget called Speak Pipe. And make sure you pick up a copy of our automation book at screwthecommute.com/automatefree. This book is just one of the tips in the book that saved me 8 million keystrokes. We actually estimated it one time. And amazing. I don't want you fighting with your computer. I want you selling stuff to people and making money.

[00:02:44] All right. Let's get to the main event. Residual income is sometimes called recurring income. And again, this is what allows me to legitimately say I couldn't stop the money coming in to my checking account if I tried. Now, here's the thing, though. Look, I'm not talking about money falling out of the sky. You have to do something to get into this system. But I can tell you, once you get into the system, you just it takes very, very little effort to keep it rolling and to increase it. I mean, I literally if I'd have to go to Mexico and close all my accounts and hide out if I wanted to stop this money coming in.

[00:03:28] So this is a wonderful feeling and it allows you to do things and try things and even take a break if you want to, because you know you have regular money coming in. Now, I'm a big fan of membership sites. Absolutely. And I make a lot of money on my own membership sites. But you do have to keep producing content and taking care of people to keep members happy so they don't unsubscribe from your membership. Well, that's not the deal in a residual affiliate program. See the vendor, that's the person actually selling the product or service and you referred people to them, has to keep people happy with their recurring product or service. If something goes wrong, they have to take care of it. Although if you're willing to add value to the vendor's program, you can make even more money. And I'll get to that later. Now, how lucrative can this be? Well, the sky's the limit, depending on your skill level and ability to promote. But let me tell you, just one program I've been involved with has averaged around $240,000 per year for me over many, many years. I mean, folks, that's considered a rich person's salary from just that just one program. So this can be very lucrative. So where do you find residual affiliate programs? Well, I got one with a shopping cart system that's been running for years.

[00:05:01] It's based on a private label product. It's called kickstartcart.com. See, that's my private label. And sometimes they call it a white label product in that another company provides the service, but I'm allowed to put my name on it. And I covered this fully. One of my check out episode 55 on private label products. And I really encourage you to listen to that because that's another way you can get products really quick. Anyway, we're still talking about finding residual affiliate programs. Well, a simple Google search using the terms residual affiliate programs and recurring affiliate programs. That brings up literally thousands of products and services that people buy on a recurring basis. I even saw one today for dog food. And people certainly buy dog food over and over again. If and if you had some pet related business, I'd be jumping all over that program. As long as the food is good, I mean, you never want to promote something that's terrible because people won't trust you anymore. Oh, then I got to take another sidebar here, just to remind you about that TikTok thing that's going viral. Well, if you're into TikTok at all. Or if you get an account, make sure you follow me at at Digital Multimillionaire. And the way you can go directly to it is tiktok.com/@digitalmultimillionaire.

[00:06:35] Make sure you check out I've got probably close to 200 really short training videos there and of course that viral one is gone. I've got several other smaller viral ones, but that's the one that's taken off big at this moment. So TikTok. Okay, so here's just a small sampling of things you could promote and get paid over and over and over again. Well on website stuff like we promote Thrive website themes. I think I'll have a link in the show notes for that. And if you get it, we teach you how to use it, which is another topic I'll cover shortly about adding value. And here's some more things Search engine tools, live chat tools, funnel builders, keyword tools, web hosting, VPNs, supplements, dog food, course builders, social media programs, stock market tips, cosmetics, weight loss, cryptocurrency. I mean, so it's not just internet stuff. There's all kinds of things that you can promote on a recurring basis. All right. So let's now talk about a way to ramp up your ability to get more referrals. And it's a little more work, but it greatly increases the amount of money you make, and that's by adding value. So let me get back to the shopping cart example. Well, one of the reasons I skyrocketed to the top of the heap in resellers for that company is that I offered free, unlimited training and one on one tutoring for people who got the cart. Now, many of the other companies selling shopping carts gave you a tiny bit of training or none at all.

[00:08:18] Or they charged you for training? Well, people loved what I was doing because they didn't feel helpless figuring out things on their own. Yeah, it was more work, but I mean, $240,000 a year and many of them don't even ask for help after the first couple of months when they really get comfortable, say. And in the beginning, here's another way to to streamline things. In the beginning, I was given a three hour tutoring session for each new customer, but I soon got to the point where I got so many users I couldn't do that. So I put all the training on videos and I had them watch the videos and then book their tutoring. So everything went faster because the people already had a good foundation and what the cart was all about. Then when they got on a call with me or one of the staff, things went really fast and people were still happy because they got all their one on one time they needed and they had the videos to fall back on even in the middle of the night. So we're talking about adding value to get people into the residual program affiliate program. Now, keep in mind, folks, this is the big thing about this. You promote it once. And you get paid over and over and over and over and over again. Like I said, I've had some of them paying me for 18, 19 years.

[00:09:44] So this is crazy powerful if you if you get into this. And then one of the website builder programs, we give tutoring and teach people how to use it. And sure, their company has videos, but people always have questions. And if you take care of those questions right away and personalize the answers to the people asking, they really love it and you've just increased the chances greatly. The person will stick with whatever program you recommended because they now know how to use it and they know who to call if they have a question. So instead of staying for a year, they might stay for five years or more. So. So this is the power of this. Now, are you going to get buried with calls from people? No, you won't. Once people get comfortable using whatever you taught them, you have very little requests for them compared to the additional amount of money you're going to make off them for keeping them happy. Now, a lot of people say, well, how do you promote the the the affiliate links that you get off of these residual affiliate programs? Well, this all the same stuff. And I have tons of episodes on this. And by the way, all our training episodes, which we have over 300 of them on this podcast, are at screwthecommute.com/training. So just go through and pick out the ones that you want.

[00:11:08] But anyway, you do it in eBooks, screen capture videos, you can put them on YouTube and if you have an email list, of course you can send it to your email list, all your social media, you can put the links and so forth. And I do suggest you get a plugin called Pretty Links so that you can take the affiliate links can be long and ugly looking and they won't even get you accepted some places. So if you can shorten them really nicely and with your branding on them. So screwthecommute.com slash something. Could lead you to some humongous, weird looking affiliate link of mind. So you'd probably want to get that if you really want to get serious about this. So. So that's my story, too. I'm sticking to it. It's been an enormous revenue generator over many, many years. Yeah, like I said, I like membership sites, but this is less work and more security that that you're going to get paid over and over and over and over again, even if you're sick or hurt or injured or you just quit. I mean, like I said, if I just quit everything, money would still keep coming in for a long time. So that's where I went for you. All right. If you like training on this and everything, the other thousand things you can do online and you need to do to do things correctly, check out my mentor program at greatInternetmarketingtraining.com.

[00:12:37] It's the longest running, most unique ever in the field of digital and internet marketing. And also, hey, if you've got kids that you're thinking about sending to college, please think twice about it and it's you're going to blow enormous amounts of money. They get out with no skills and well, they get skills of partying and eating. That's about it. Right. But if you want them to have a real skill that's in high demand, actually the Internet and digital marketing is called a vocation. It's not like plumbing and heating and air conditioning and fixing cars. It's something that they love to do anyway on their computers. And this is a way they can make a massively great career because the skill is in demand by every business on earth and they can have their own business work for other businesses or both. So that's my school at the Internet Marketing Training Center of Virginia. It's the only licensed, dedicated Internet and digital marketing school in the country, certified to operate by SHIV, the State Council on Higher Education in Virginia. But you don't have to be in Virginia because it's distance learning and it's quality distance learning, not like the stuff they're shoving down the throat of your kindergartners nowadays or during the pandemic. So check that out at IMTCVA.org. Of course, this stuff will be in the show. All right. Get you some residual income and you will thank me. Catch you later.