If you’re not a fan of greenery, a Money Tree might just change your mind…
A Money tree in layman terms is “passive” income that you earn on a recurring basis, after doing much of the grunt and groundwork upfront.
So, once you get your tree setup and have the fairy lights lit up, it should be able to grow and generate a recurring and regular income for you, without you even having to be there. Better yet, you can hire other people to grow your money tree for you, while you’re busy sipping your Milkshake in a Hammock somewhere.
Your own Money Tree
Whilst the “Nine to Five, work your fingers till they fall off” model appeals to most, some folks prefer to have a financial freedom plan of their own, whereby they can put in the hard work upfront and have the option of retiring whenever they feel like it. Given the choice, most folks actually prefer to retire right away and continue to get paid for their invaluable contribution of not being there. Unfortunately, not too many Employers offer that option.
Now, the type of Money Tree/Passive Income Stream you decide to setup is entirely up to you.
But it has to be ethical, legal, pet-friendly and blood pressure friendly. And it has to be an income stream generated through the sale or commission based sale of a product or service that you are absolutely crazy about.
In fact, if your toes don’t wiggle with sheer excitement every time you think about helping out a fellow Earthling through your products and services, then it’s highly unlikely that it will pan out for you in the long-term. That’s because you can’t play a Sport that you hate to the point of not being able to keep your eyes open during the game and hope to make it to the Championship.
Now, that’s not to say you have to love everything about your Business Model. But you do have to love the end result both for you and the customer. And also thoroughly enjoy some aspects of the “work process”.
Money Tree Models
There’s a ton of “Money Tree Models” to choose from, both online and offline.
Some of the more popular models are:
Real Estate – We’re talking about the “clean” variety here, with the backing of reliable property managers. And not the shady stuff that makes you unusually susceptible to extreme weather conditions (even while you sleep).
Internet Real Estate – This can be sites, domains, cloud storage space, virtual pets to just about any online resource that you lease out. Or it can be your very own Brand/Company website that lays those Golden Eggs for you, month after month (provided that you don’t shoot the Goose one morning and have it for breakfast).
The sale/resale of products and services – Whether you do it online or offline, on the run or on the street, all of Business comes down to providing a product or service that leaves your Customers speechless (temporarily) and willing to come back for more (preferably for the entirely of this life and the afterlife).
Manufacturing –This can be one of the most profitable but also one of the trickier Business models to master. That’s primarily due to the unpredictable trends in the Marketplace and the extremely short product lifecycles associated with many new Products.
But once you have an innovative team of Geniuses onboard, who are capable of whipping up those brilliant ideas in their sleep and you’re able to differentiate yourself from the average Koala, you would be able to enjoy a more sustainable Business model that can last for generations.
Licensed programs – One of the cooler Business models out there is the “licensing” of products and services, whereby you can earn a residual off each sale made by your Licensees; much like what Microsoft, the Franchise Industry, the Movie Industry, the Music Industry and the Catnip Industry are doing today.
MLM Marketing – MLM serves as the baseline for many aspiring folks who’re looking to transition from their 9 to 5 daytime jobs to a more liberal Dawn to Yawn Business Owner lifestyle.
And if you’re one of them, it can serve as the springboard that would allow you to build up the much-needed startup capital to one-day progress forward and establish your very own Evil Empire. Or you can take the more boring route and just set up a sweet and sensational Business that people love.
The other cool thing about partnering with a “well-established” MLM Business is that aside from the small mandatory monthly fee, you’re rarely required to keep stock as the Distribution Centers normally takes care of all that along with all the aftersales care.
And after joining up, all you have to do is to sell like crazy (without actually “selling” anything) and recruit as many overachieving energizer bunnies as you possibly can. Then, you’ll not only enjoy a commission off each sale you make, but you’ll also get a slice of each pie that ends up in the nets of your recruits.
But it doesn’t stop there. Many MLM Companies have compensation plans that are many levels deep, meaning that you may also get compensated for each sale made by the Recruits of your Recruits, their Relatives, Long Lost Ancestors and so forth…many tiers down.
Affiliate Marketing – Whilst much of affiliate Marketing is done online, it’s not exclusively an online industry.
Also, of the many forms of affiliate marketing available, the only two that lead to a residual income are subscription-based programs that generate monthly residuals and two-tier affiliate programs.
You could also earn a residual income through programs that don’t fit either criterion by having several trusted entities on the web that are capable of generating and retaining traffic. And then using them as sales funnels to generate an affiliate income. Obviously for this to be anything worth sinking your teeth into, these funnels will need to convert into sales really well and often.
Stocks – Stocks are more of an investment, whereby you buy a slice of a Company (in the form of stocks) when it’s valued at a much lower figure than the Company’s true worth, with hopes of selling them later. And it can serve as a form of residual income in the meantime.
Savings accounts –Whilst the idea behind a savings account appear to be pouring bucket loads of money into an account regularly, in exchange for a teaspoonful of interest and a bubble gum; the real magic of the process happens when the money and the interest are allowed to compound over time. But this may take anywhere from a few decades (yawn) to a few millenniums for it to rack up a substantial monthly residual.
Follow the Leader
Regardless of the Money Tree, you decide to plant in your backyard (with your Mom’s permission); your first course of action should be to find a Coach or a Mentor who’s been there and done that to illuminate the way.
At the same time, be sure to steer clear of those “overnight success blueprints” and anyone that you know in your gut is gonna take you to the edge of a Waterfall and leave you there with an Action Cam.
Also keep in mind that all of the above Money Tree Models carry some degree of risk along with hair frizzing amounts of hard work.
