if you're committed to firing your boss and going full-time online as an internet entrepreneur here are three things that you should be adding on this year first is additional streams of income as an entrepreneur it's very common for us to experience our income having up months and down months our income can be more volatile compared to the income of a 9 to5 employee and that lack of stability in the income is what keeps a lot of people from Bridging the Gap from kind of a night and weekend side hustle to going full-time online which is why you want to add on additional streams of income to your business and what happens when you get to six seven eight or even dozens of different streams of income like my wife and I have is if one or two of those income streams start to get more volatile meaning you got a down month and an up month and a down month the other income streams will smooth out your overall monthly cash flow numbers now what does this look like inside of an online business well first if you're just publishing to YouTube or you're publishing to a Blog and you're earning Revenue through ad income right from displaying ads on YouTube or displaying ads on your blog then you might want to start adding on affiliate Revenue where you review and recommend products as an affiliate in order to generate additional streams of income and if you got both of those going that's when it's time to start looking at potentially creating your own products making your own offers whether it's coaching consulting services or whether it's ebooks video courses and digital downloadable info products it's a wide world of opportunity for you as an entrepreneur to be of Greater service to your audience when you create your own offers but remember even as an affiliate it's generally speaking very easy to add on two three four or five new streams of income each and every year by simply doing the right type of research to find those offers that your audience already wants to buy that you can simply promote as an affiliate so no matter how you go about it right you've got an affiliate site that's not running ads yet and you add on Advertising to start generating additional streams of income or you've got a YouTube channel that has ads and affiliate Revenue but you're going to start adding on your own courses in order to generate additional stream of Revenue that process of actually creating multiple streams of Revenue inside of your business is the thing that's going to help you have that stable consistent long-term income that's going to allow you to be more comfortable and more ready letting go of that day job going all in on your entrepreneurial Endeavors and this brings us to number two which is to add on recurring income streams now a recurring income stream is generally speaking when someone pays month after month after month for continued access to software to a newsletter to a course to a membership program to a mentorship program etc etc etc now you don't actually have to go create the software the membership program or the offer right you can be an affiliate and go find those affiliate offers that have recurring revenue for you via recurring commissions the other way to go about it which is what my wife and I have done is to actually create your own on ongoing membership program and the power in adding on additional streams of Revenue that have recurring Revenue built in is once you've gone out and got 15 20 customers or a 100 customers you're then able to count on that same commission or Revenue structure coming in each and every month yes you're going to have some people churn out of the membership program right there's going to be some people who cancel their account each month but generally speaking that's down around 3 four 5% or maybe 10% of people will churn out so as long as you're just bringing in 10% new people each and every month into whatever offer that is that has that recurring uh benefit for you as the vendor in that then you are going to see that your income compounds month after month after month so if you have a hundred people on a recurring product and the next month you bring in 10 more then you've got 110 the next month you bring in 11 more cuz that's a 10% % increase now you're at 121 then you bring in 10% more and now you're bringing in 12 new people each and every month and when your growth rate is greater than your churn rate not only are you going to see a very consistent amount of income but you're going to watch that income go up and up and up consistently each and every month uh my friend Dave wooding from integratepro do.com who's helped me out with all of my integration stuff behind the scenes my business has always called recurring Revenue the Holy Grail of Internet income inome and it is one of those things that it's worth you really figuring out is there a software tool that my audience needs wants or already uses that I can promote to the rest of my audience is there a newsletter is there an ongoing membership is there some sort of a community that I could promote that has recurring commissions for me as the affiliate in there that's also a really good and useful tool or program for my audience and if you don't find one or if you do find one but you don't like how they're selling it and you want to go create your own you can just open yourself up to Fantastic margins with uh wonderful numbers within your business when you build out your own membership programs uh my wife and I have been running a membership program for over 10 years now and that we have some members who have been with us literally for 10 years at this point in time and they've been paying each and every month happily to get a couple of new MP3s each and every month for my wife and I um and they've been paying month after month after month for year after year and that stability in income that knowing that next month and the month after I'm going to have hundreds and hundreds of members rebuilding happily each and every month that is how you really build that confidence to be able to let go of the day job to be able to uh get mortgages to be able to afford your car payments to pay for insurances and all those kind of ongoing costs that we have in our lives building recurring revenue streams inside of your business is how you can kind of automate the cash flow that you need without the desk job right again it really does come back to this um consciously building out systems that are going to help you have that dependable reliable and consistent cash flow stream so you can have that stability that you need to really confidently go out on your own and number three is to create and Implement an automated email list growth system now email marketing is the most important Bridge for you to cross on your journey as an entrepreneur because that is the only traffic source that you actually own now a really good example of this is this YouTube video right here and now um you know make no mistake this is YouTube's traffic right you are one of YouTube's customers and if YouTube so chooses they can literally turn me off and they can just shut down my channel and they can shut down all of my videos right they have a big red button that says delete account of Miles Beckler now I'm doing everything that I can to play by their rules and to be a a partner with them as a partner Creator here on YouTube to make sure that um it's a win-win scenario and to increase the longevity of my channel here but I know that an algorithm change here on YouTube or if something goes Haywire on YouTube there is a risk of me getting cut off from my traffic source and the same is true on Google right if you're blogging on Google and you're getting traffic from Google gole but then they run some sort of a new algorithm update Google can actually sever your ability to drive traffic it's the same thing we saw with Facebook on the Facebook fan pages uh you've seen it with Tik Tok every platform okay uh Pinterest all of the platforms out there Instagram whatever they are the platform owns the traffic and that's not until you actually grow your email list that you have traffic that you own and once you own your traffic you can create a new sales you can get the messaging about your sale out in front of all of your people you can do whatever it is that you so choose because that is traffic that you own so how do you actually go about building one of these automated email list growth systems well it depends on where you're getting your traffic from okay so on one hand if you're using a Blog for traffic what you'll want to do is create a lead magnet and a popup now the popup is what displays over top of your blog post when a user is reading and it's going to make an offer for your lead magnet it's going to give them a chance to enter their email address and get that thing that you're giving away now with a popup on a Blog generally speaking you're going to see one to five% of people who see that popup are going to convert and grow into your and join your list right you're going to see the growth of your email list by about 1 to 5% of the traffic to your website when you're running a YouTube channel when you're building your brand based on social media you're going to need to use what's called a landing page and this is a dedic ated optin page sometimes referenced as a squeeze page where the user is going to have essentially one option on the page that's to take that step to get your freebie if you want to see an example of one of these in action you can go to Miles becker.com forfree where you can go get access to my affiliate marketing crash course that teaches the 11-step process that I use to take a brand new domain in a niche I wasn't an expert in and to grow that to over 100,000 ,000 in Revenue fast okay so you can learn everything you can see the step-by-step course but what you're really doing is you're seeing in action Right Here and Now how I as a YouTuber have to get you to leave to my actual website to my landing page in order to present you with that opportunity to join my list and what this means is far fewer people are going to go see that offer compared to showing it as a popup on my blog but the numbers of those folks who see that and convert go up drastically it's very common to have 50% 60% and even 70% conversion rates on your landing pages and your squeeze pages so you get higher conversion rates but you have less people seeing it and this is one of the reasons why I do recommend and I love blogging because blogging allows you to get massive amounts of traffic from Google and then you could just start displaying your popup over top of your blog posts which means that Google traffic is going to be jumping on your list and it's often well known that um folks who enter your ecosystem through a search engine like Google they're generally better customers and it's generally higher value traffic versus folks who find you um as you interrupt them on social media But ultimately what you really need to think about is safeguarding your cash flow right that was number one and two on this list today multiple streams of income and adding on curring income streams that's going to safeguard and stabilize your long-term cash flow but then you need to safeguard and stabilize your traffic as well which is why email marketing becomes that most important component once you're in motion creating content and Publishing and you're growing your audience through social or through YouTube or through blogging and that right there are the three keys to building up your traffic your ass set and ultimately your cash flow in a way that will free you from the 9 to5 that will free you from the rat race allowing you to confidently fire your boss and break out on your own you can do it if you have questions for me about the process get at me in the comments below please please give this video a thumbs up a little love for the algorithm goes a long way I do appreciate that and I look forward to connecting with you on the next video Until then be well
Fire Your Boss & Go Full Time Online In 2024
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