This may be one of the last formal podcasts with all of the millions of to-dos on Paul’s list. It’s interesting to note that approx. 5,000 people will listen to a podcast while 15,000 will tune into a video.
This is all about residual income streams vs traditional businesses to a great extent. Residual income is evergreen; it doesn’t depend on building a widget, selling it and building another. It’s always trickling in, even after the work is complete; it may be the result of blogs, articles, instructional videos, perma-cards etc.
Paul and Jocelyn see huge opportunities at the farm and the lab in blogs, videos, flashcards and the like but sees bigger hurdles in people procrastinating rather than accomplishing. He’s full of ideas and surrounded by too many people that want a slice of the pie, but scared of the risk or want a guarantee rather than having some of their own skin in the game.
The possibilities are literally endless and more often than not partners are necessary to successfully completing larger scale projects. Patience and candid conversations will quickly make the viability of joining forces worthwhile or not. Too many people want something for nothing, or want the idea person to take all of the risk including a guarantee of income to anyone helping. He talks about how a good partnership makes any project work well. His positive experiences with both Diego and Bart is proof that common goals and a good working relationship is beneficial to everyone involved.
One of the most interesting things is the good fortune a lot of people see when they enter into a partnership on any project because they are believers in its importance and passionate about its subject and most importantly committed to a common goal.
The successful cycle of a micro residual business can quickly grow into a multitude of additional business aka a layering of complimentary projects. The main ingredient to an evergreen income is to surround yourself with likeminded dependable people who will “just do it”.
Find something you love to do, want to do and spend some of your downtime developing your talent and knowledge. Keep in mind that nobody’s trapped – if you hate your day job, get frugal, become humble, be proactive and enterprising.
Vision + Work = reality Vision without follow through is only a dream.
Thanks to Ryan for massaging the file, Marianne Cooper for the description