Hey friend welcome back again to another episode that I hope will give you a little bit more insight on not only the small business realm, but sort of the mindset of why I do what I do and how I do it.

Today I’m going to talk about one specific decision that I made 20 years ago that had really paid off for me big time financially.

You know, we can make a lot of decisions throughout the scope of our business. Sometimes you go with your gut when you’re not sure what to do. Sometimes you find out that your gut was wrong.

Oh, well, you made a decision, and that’s what you needed to do. You gave it a shot. You’re going to find out if it either works or it doesn’t.

You know, we’re flooded with ads about how to make a lot of money. And you don’t know who or what to believe. It’s real easy to be skeptical about these types of things. So maybe it’ll help if I give you a personal example of what did work for me.

I’ve said a number of times that when I first started out, I really didn’t have a solid plan in place for what to do and how to do it. I worked on a business plan with very little guidance and back in the day, I went to some people at SCORE. And they were nice.

They were friendly and helpful for the most part, but it was pretty much because they’re all volunteers. It was just a little conversation and they pointed me to some resources. Being that I was in the technology realm, it was a field that they weren’t familiar with anyway.

But once I decided I was going to be providing web services, it occurred to me that I should form some sort of structure behind that concept and have a way to officially sell products and services and have people pay for those products and services in ways that would be easy for me to manage and maintain.

So as I was looking at different companies that provided web services, I found that GoDaddy had an affiliate program that they referred to as a reseller because it’s really more than an affiliate program. In a typical affiliate program, you just refer another company with a special link that’s provided by them that distinguishes you, specifically so that when you refer people through this link, you get a small financial reward for it.

But with the GoDaddy reseller program, they provide you with an independent dashboard, a way to pick and choose what products and services you want to offer with the pricing and what it’s going to be for each product, how you want to offer discounts based on the specific of time frames that you can determine or for other reasons.

So it’s really a full blown way to have your own Web services business. But offer pretty much all or most of what GoDaddy has to offer. And through this dashboard that they provide you can present it as your individual company. And with a reseller fee of just $100 a year, I think that’s quite a bargain.

Because I have made 10’s of thousands of dollars with just this one decision to be a reseller through GoDaddy. Now you might already be familiar with web services and what they are and how they work. But just to be clear when somebody wants a website, they’re going to need a domain name, hosting, they will probably want custom email. They may want SEO services.

They may want a secure link for their domain name called SSL Secure socket layer (a little bit technical here) but they may want domain privacy protection you know pretty much the A to Z of what you need for a website hosting.

I think I left that out hosting account the server that’s going to have the files for the website and offer it 24/7 to the Internet and when these products and services need to be renewed every year, and the customer does renew and pay for these products and services, you automatically get passive income.

In the first ten years that I offered these products and services I acquired a good number of clients. Some people throughout the years come and go. Some businesses cease to exist. Some people move away and they have some other local contact that they want to deal with. Some people are convinced they can do these things themselves.

They give it a try. So as the years go on, because I’m not offering these products and services like I used to, the amount of passive income has been going down from year to year, but it’s still significant. And when it comes to a financial planning, I can forecast what the passive income will be for those products and services that are renewed.

In that concept of passive income, through the renewal of products and services, it still applies to affiliate affiliates that you can set up for yourself as well. You don’t have to have a reseller account like this to get that kind of income. You can set up a number of affiliate programs. And use that as an extra source of income too.

So as a result, because I’ve seen first hand the benefits of passive income and how it works the past couple of years I’ve been creating affiliate programs that relate to that really directly to the kind of environment that I’m in and the kind of products and services I still provide, to increase the channels for passive income from my business

Now I don’t know what kind of business you will have, or currently have. I don’t know the realm that you’re in, but I’m very confident that you’ll find a number of affiliate options for you to pick from and for you to establish with other companies so that it would increase your chances of having passive income.

I hope that this shed a little bit of positive light on the potential that you have for not only generating income through direct product or service sales, but through the avenue of passive income as well. If you have any questions or comments, just hit me up in the link that’s in the show notes to leave a comment or rate the episode.

I certainly like to hear from you because it really gives me crystal clear indication of what the listeners enjoy and want more of for future episodes. Let’s talk soon.

www.tomclairmont.com

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