Ask any questions related to business / entrepreneurship / money-making / life
NO BLATANT ADS PLEASE
Jay Abraham, Referrals, Passive Income
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?
Other recent posts on the forum...