Jay Abraham, Referrals, Passive Income

[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?

[unpinkpanther]

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!

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?

[Millard Grubb]

Originally Posted by unpinkpanther

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!

I appreciate the feedback!

Just wondering... I am familiar with affiliates... but have never heard of the concept used for in-person, commissions for sales people.

Now I realize that using a sales person has all kinds of challenges. However, with experience being a salesman to local businesses years ago, I was able to make sales face-to-face on an almost daily basis. My strength has been face-to-face selling. Yet, I am at a point that I would prefer to stay at home and do things sitting in my office.

This is the point that I like so much about what Glenn Osborn does.... Sends flying cows, gifts, giant candy jars... Ha ! It almost sounds like cheating !

Imagine that... having cheat codes for selling business to business! Sounds like a slogan to me.

[Glenn]

Thanks Millard,

FIRST POINT.

Jay Himself in his own Personal Marketing DOES NOT Use Any of His 50 Biz Multipliers.

Only.

"HOST-PARASITE
And
"Endorsement

(After Bartering my way to 15 of his bootcamps. And Watching him for Years.
I am Pretty sure Jay has very few "Passive" deals. I even Have a Client who
Produced the Jay A Movie. So I have some insider info.)

SECONDLY - Trying to Find SomeOne To START doing any kind of PASSIVE Deal
is like pushing a ball up a hill with a ROPE.

But You CAN Do it With a Short Cut.

What I do for Clients.

We make a List Of Companies in The Industry Niche.

Call all The Companies on The List.

Ask, "Do You Have a Paid Referral Program In FORCE Already? So When
I send You a Bunch of Customers - I Get Paid using Your Current System?

IF "NO"

I hang up.

Next.

Next.

The Receptionist Will KNOW - so EZ to do.

Thanks,
Glenn

P.S. - In MY Experience You NEVER want to SET a 10% Percentage.

CRAZY but I almost always Find The Biz owner
ALREADY paying his sales people MORE than I
Was about to Ask.

So after finding out what they ALREADY pay I say, "That Seems Good."

GULP.

And Swallow The Fact I was going to ask for 10% and They ALREADY Pay 25%

[Millard Grubb]

Originally Posted by Glenn

Thanks Millard,

FIRST POINT.

Jay Himself in his own Personal Marketing DOES NOT Use Any of His 50 Biz Multipliers.

Only.

"HOST-PARASITE
And
"Endorsement

(After Bartering my way to 15 of his bootcamps. And Watching him for Years.
I am Pretty sure Jay has very few "Passive" deals. I even Have a Client who
Produced the Jay A Movie. So I have some insider info.)

SECONDLY - Trying to Find SomeOne To START doing any kind of PASSIVE Deal
is like pushing a ball up a hill with a ROPE.

But You CAN Do it With a Short Cut.

What I do for Clients.

We make a List Of Companies in The Industry Niche.

Call all The Companies on The List.

Ask, "Do You Have a Paid Referral Program In FORCE Already? So When
I send You a Bunch of Customers - I Get Paid using Your Current System?

IF "NO"

I hang up.

Next.

Next.

The Receptionist Will KNOW - so EZ to do.

Thanks,
Glenn

P.S. - In MY Experience You NEVER want to SET a 10% Percentage.

CRAZY but I almost always Find The Biz owner
ALREADY paying his sales people MORE than I
Was about to Ask.

So after finding out what they ALREADY pay I say, "That Seems Good."

GULP.

And Swallow The Fact I was going to ask for 10% and They ALREADY Pay 25%

Thanks for the tip Glenn. Your wealth of experience has always been a welcome sight here. Most folks do not realize the gold that is hidden away here in this forum. If folks would take a little time and just search for answers here, they would save themselves money, time, and effort.

I appreciate very much all your insights... thanks again.

[cash4notes]

Millard,
You would of course setup that salesperson on a 1099 bias.

That is how a lot of the these SAAS companies grow so fast...like Russel Branson's "Click Funnel". Affiliates get paid every month for sales that are made.

Cash

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?

[unpinkpanther]

Thanks for sharing your helpful insights, Glenn

This is GOLD

Originally Posted by Glenn

Thanks Millard,

FIRST POINT.

Jay Himself in his own Personal Marketing DOES NOT Use Any of His 50 Biz Multipliers.

Only.

"HOST-PARASITE
And
"Endorsement

(After Bartering my way to 15 of his bootcamps. And Watching him for Years.
I am Pretty sure Jay has very few "Passive" deals. I even Have a Client who
Produced the Jay A Movie. So I have some insider info.)

SECONDLY - Trying to Find SomeOne To START doing any kind of PASSIVE Deal
is like pushing a ball up a hill with a ROPE.

But You CAN Do it With a Short Cut.

What I do for Clients.

We make a List Of Companies in The Industry Niche.

Call all The Companies on The List.

Ask, "Do You Have a Paid Referral Program In FORCE Already? So When
I send You a Bunch of Customers - I Get Paid using Your Current System?

IF "NO"

I hang up.

Next.

Next.

The Receptionist Will KNOW - so EZ to do.

Thanks,
Glenn

P.S. - In MY Experience You NEVER want to SET a 10% Percentage.

CRAZY but I almost always Find The Biz owner
ALREADY paying his sales people MORE than I
Was about to Ask.

So after finding out what they ALREADY pay I say, "That Seems Good."

GULP.

And Swallow The Fact I was going to ask for 10% and They ALREADY Pay 25%

[Dien Rice]

Hi Glenn,

Thanks for mentioning this!

There's some very valuable information in this post!

As for referrals... I know they are very powerful...

I've used them in the past with great success... And I'm planning to do so again soon!

Again... Thanks Glenn, for the reminder and the kick up the rear end!

Best wishes, Dien

Originally Posted by Glenn

Thanks Millard,

FIRST POINT.

Jay Himself in his own Personal Marketing DOES NOT Use Any of His 50 Biz Multipliers.

Only.

"HOST-PARASITE
And
"Endorsement

(After Bartering my way to 15 of his bootcamps. And Watching him for Years.
I am Pretty sure Jay has very few "Passive" deals. I even Have a Client who
Produced the Jay A Movie. So I have some insider info.)

SECONDLY - Trying to Find SomeOne To START doing any kind of PASSIVE Deal
is like pushing a ball up a hill with a ROPE.

But You CAN Do it With a Short Cut.

What I do for Clients.

We make a List Of Companies in The Industry Niche.

Call all The Companies on The List.

Ask, "Do You Have a Paid Referral Program In FORCE Already? So When
I send You a Bunch of Customers - I Get Paid using Your Current System?

IF "NO"

I hang up.

Next.

Next.

The Receptionist Will KNOW - so EZ to do.

Thanks,
Glenn

P.S. - In MY Experience You NEVER want to SET a 10% Percentage.

CRAZY but I almost always Find The Biz owner
ALREADY paying his sales people MORE than I
Was about to Ask.

So after finding out what they ALREADY pay I say, "That Seems Good."

GULP.

And Swallow The Fact I was going to ask for 10% and They ALREADY Pay 25%