Thanks for sharing, Millard
(By the way, love how you went for the transcript versus watching Jay's video content. That's a life hack there!)
Think it's smart to get a professional invested in the success of your venture. Looks like a WIN-WIN to me
Instead of too much legalese, you could consider setting up an affiliate link for him.
That way, revenue is split automatically as per the agreed sharing formula. And performance gets tracked in real time.
Hmmm...May even see how I put this to work myself
Thanks for sharing!
Quote:
Originally Posted by Millard Grubb
I was reading through a transcript of Jay Abraham's "Master of Passive Income" and thought of a few things.
Jay indicates that you can find anyone with the skills you lack to do the things you want to do more effectively. He suggests paying someone an on-going 10% forever to do the things you want to keep them going forever.
I was thinking that this concept has a more merit than actually hiring someone outright. To be clear, Jay suggests paying the 10% as long as the project is working, making money.
You would think it might work out like this for a sales person... You find a sales person who is already selling and working with small business owners in your area. You pay the salesman 10% of all sales you make to local business owners. If you have an on-going payment plan from an owner, the salesman continues to get 10% of what the owner pays you as their payment.
The payments continue as long as the business owner is a client.
Does this idea of referrals with on-going payments make sense in a way to work with folks to get them to refer business to you? Would this work with salesmen?
Now to be even more clear, I am suggesting a sale to a business owner for consulting services, not just a referral ! The salesman is the one making the sale for consulting!
The problem I see is the paperwork and actually having to hire the salesman with all the legalese, safeguards, etc. However, there has got to be a way to make Jay's concept of passive income work without having the pains of actually hiring someone to go out selling.
Does this make sense or am I reading Jay's concepts in too simplistic ways?
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