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Podcast 261- Residual Income Streams  RSS feed

 
Rebecca Holman
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Paul and Jocelyn talk about residual income streams, and touch on the rocket mass heater DVDs -DVDS and also the Kickstarter for the Permaculture playing cards

Podcast 261- Residual Income Streams

Perma-Finances Or how to stop being a wage slave

This may be one of the last formal podcasts with all of the millions of to-dos on Paul’s list. It’s interesting to note that approx. 5,000 people will listen to a podcast while 15,000 will tune into a video.

This is all about residual income streams vs traditional businesses to a great extent. residual income is evergreen; it doesn’t depend on building a widget, selling it and building another. It’s always trickling in, even after the work is complete; it may be the result of blogs, articles, instructional videos, perma-cards etc.

Paul and Jocelyn see huge opportunities at the farm and the lab in blogs, videos, flashcards and the like but sees bigger hurdles in people procrastinating rather than accomplishing. He’s full of ideas and surrounded by too many people that want a slice of the pie, but scared of the risk or want a guarantee rather than having some of their own skin in the game.

The possibilities are literally endless and more often than not partners are necessary to successfully completing larger scale projects. Patience and candid conversations will quickly make the viability of joining forces worthwhile or not. Too many people want something for nothing, or want the idea person to take all of the risk including a guarantee of income to anyone helping. He talks about how a good partnership makes any project work well. His positive experiences with both Diego and Bart is proof that common goals and a good working relationship is beneficial to everyone involved.

One of the most interesting things is the good fortune a lot of people see when they enter into a partnership on any project because they are believers in its importance and passionate about its subject and most importantly committed to a common goal.

The successful cycle of a micro residual business can quickly grow into a multitude of additional business aka a layering of complimentary projects. The main ingredient to an evergreen income is to surround yourself with likeminded dependable people who will “just do it”.

Find something you love to do, want to do and spend some of your downtime developing your talent and knowledge. Keep in mind that nobody’s trapped – if you hate your day job, get frugal, become humble, be proactive and enterprising.
Vision + Work = reality Vision without follow through is only a dream.

Thanks to Ryan for massaging the file, Marianne Cooper (http://www.twigsandberries.com ) for the description
 
Paul Pittman
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Paul and Jocelyn, great podcast and topic. Finding a means to replace even a portion of one's income from a traditional job moves him/her one step closer to a self-sufficient life and self-fulfilling life. I think you both did an excellent job highlighting how this is important and it was also insightful to hear about some of the "behind the scenes" action of the permies.com empire. Paul's frustration with moving things forward to the next level are understandable.

Paul, I know you and jack spirko are good buddies, so I'd further point to his series "five minutes with jack" that goes into some of the how-to and nuts and bolts of executing on some of the ideas you presented in this podcast to create residual income streams. I don't think he's done any new episodes in awhile, but the content there can help put into motion the concepts brought up in this podcast.

http://www.jackspirko.com/

Keep up the inspirational work!
 
David Williams
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I'm one of those 5000 podcast listeners, Paul and Joss, I hope in the near future you have yourselves surrounded by people who care for the groups interest and not their own personal short term gains... I also hope one of those people continue your podcast's in your stead ......As i think it's a reality check for some disheartened people.... showing what can be achieved through effort ...... i think your energy adumbrates what permaculture is all about, and i know the pain of educating sheeple first hand *sigh*... Not everyone wants things from you Paul, but they are hard to see through the people clammering over themselves to try and make a buck ....But a lot support your work in spirit.... I was having flashbacks to watching Allen Jones when Paul lost the plot on occasion, his frustration gave me a good giggles as i have been at that point with people, does your head in lol..... I haven't worked out this apple thing but i figure it's how you mark helpful people and as a side note i don't represent any interest other than a change in human lifestyle hence no adverts in my signature
*Raises a glass and toasts that 261 isn't the last*
Peace and Love Dave oxoxox
 
hannah ransom
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More people watch videos because...

1.) Visual.

2.) (and this is a big one) They are shorter.
 
Paul Pittman
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I actually prefer the podcasts to video because I currently have a 45 min - 1 hr commute each way to work and consequently, audio is much more conducive to accident avoidence (although I do enjoy the videos as well, when not behind the wheel).
 
lee kibler
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I'm one of the 5K listeners. I enjoy the podcast because it is conversational and real.
 
Ryan Barrett
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Marianne, you have the best company name, ever.
-Ryan
 
hannah ransom
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Well, I listened to this cast.

I definitely definitely agree with you about making money from your permaculture endeavors. If people are into permaculture (and/or other related awesomeness that is good for people and the world) then they should make money off of that and have the energy to put into that, instead of having to put all of their energy into a job they hate only to give up on their hobbies.

A lot of people into the business of helping other have a mental block against charging. I myself was that way. And then I realized 1.) The more money I make the more people I can help and 2.) People actually value what they pay for more.

I totally wanted to buy that $4,000 resource card. The cards really do look amazing.

I actually have a similar plan to you, Paul, in that I want t work towards getting land that can be a community. It's interesting to here you experiences. I assumed people would absolutely JUMP at the opportunity to have rent-free land and amazing food provided for them and fun farm/land work. I guess I was wrong.

I would be out at your land in a second if I wasn't married to someone that wants to be in (a specific) school, so my location options are limited. I love cooking, and I can't believe someone hasn't taken you up on that! It's even a paid position.

Well, I would have to give a hard think to living somewhere where it snows, but other than that I would be out there in a second.
 
Marianne Cicala
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Ryan Barrett wrote:Marianne, you have the best company name, ever.
-Ryan

thanks Ryan!!! It is unintentionally memorable.
 
Ryan Mitchell
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I couldn't agree more with this podcast, I have the exact same sentiments. I've been of the mind set that you need to set the ground work for success then "just do it". That attitude has worked out well, I had no knowledge on how to build a business, sell products, or do marketing, but I researched it and did it. The outcome has been this year I left my day job because I was earning more residual income than I was at my 9 to 5!

So it is totally possible, with a lot of hard work and a commitment to producing results. For me it meant working 9-5 then coming home and working 6 hours, fast forward to today and I'm thankful that I spent that time the way I did. It takes time, hard work, patience and being smart about where you put your time and energy. Like they said, don't think you are going to make millions, but if you can cover your cell phone bill each month without having to do much for it, awesome! That's how I started, I said "I just want to cover my costs for web hosting", the rest is history.

My stuff generally focuses on web based ventures, I try to stay away from tangible good because of the overhead that comes with that, but you learn some principals and you can apply them universally most of the time. One thing that I have struggled with is how to make the jump to other markets or niches. I have a fairly niche site, so my market is limited, if people have strategies I'd love to hear them.

As you do this, you will see that things have a snowball effect to them, you grow slowly at first, but it has a compounding effect. As it grows, you earn a little more, which means you can spend a little more time on it, then it grows more and you earn more.

Paul, I like this topic a lot and think the outcome can have life changing impacts. I'd love to chat sometime with you about it, maybe even a Part 2 of residual incomes podcast?

Some resources I found useful:
  • http://www.smartpassiveincome.com/
  • http://www.amazon.com/The-4-Hour-Workweek-Anywhere-Expanded/dp/0307465357
  • http://www.problogger.net/
  • Youtube - In general
  • Seeking out experts

  •  
    Marianne Cicala
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    I too love this conversation. It's the layers, all of the small pieces that add up to something important. Keep moving, doing, adding, tweeking, changing and growing. I believe "do it or die" determination has and will continue to serve anyone that believes so strongly in what they are doing, that set backs are nothing more than going further up the learning curve. I have a motto: "CHARGE!!!" - it's worked so far.
     
    Garry Hoddinott
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    I've listened to about 60 of Paul's Podcasts. The earlier stuff was topic oriented - good info and well presented. To me the latter stuff is colloquial and self centred. Podcast 261 was a new low, with a lot of "poor me", "nobody ever listens to my great suggestions" etc sentiments. I have shifted my attention to Gail at You can Homestead and Chris Seltzer - both focusing on sharing information. I can see how the must do's of a property are engaging Paul, but I would hope that within the EMPIRE (frankly call in the UMPIRE, its time to blow a whistle on this!) there ought to be some one who can wax lyrical about an Ice Cream Bean tree or some such. Good luck with each and every of your noble money making residual income streams, but your 5k listeners may decline further and will not make much of a market with infrequent, and poorly structured podcasts. OUCH
     
    hannah ransom
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    How in the world did you pull "poor me" out of that? Paul was saying that he has residual income because he DOES stuff and a lot of people want him to advertise for them and have a poor me attitude.

    And the reason he is talking about it on a podcast is because people ask him about it all of the time and for most people those residual incomes are essential to actually getting out and doing permie stuff.

    Ice cream bean? As much as that is a "permie" kind of a tree, Paul does live in Montana. I would think he advice and other such would be better focused on that region.

    Anyway, you are welcome to your opinion, I just find it kind of off base.
     
    Marianne Cicala
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    There are so many of us attempting (attempted) to shift from the day job to a full time life on a farm/homestead etc. The point that I appreciated from this podcast was the importance of layering and diversifying efforts, to further enable independence. You may begin with something as simple and unassuming as a blog about grass which may lead to a million other things. I could tell my story about beginning with fruit tree whips & berry bushes aka "Twigs and Berries" and over 5 years layered other plant material, a brick and morton store front, fruits & veggies etc. Anyone telling their story of getting from point A to point B may inspire some that don't see an end in sight to realize that babysteps and patience can truly amount to somthing perfectly fullfilling. I think it's also an important point that few things go as planned and regardless of the tenure you may have in any quest - there will always be bumps in the road.
     
    Rebecca Holman
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    I know for myself..I walked away from corporate america in 2005 and have not looked back. I got tired of the downsizing..while the CEOs take the money and suck it out of a company and walk away with the stock..while us workers..that helped make to company worth investing in, and profitable got zip.

    I said enough. I was even willing to lose my home..which did happen..because I won't compromise..I won't work in a cubicle again.. I would rather be a poor free man, than a rich slave.

    I have made my money on line, taught my self the ins and outs of Internet Marketing, bought courses upon courses, and reeducated myself to this new technology.

    I am 57, so yes, you CAN teach an old dog new tricks..if the Old dog is willing to keep an open mind and learn new things. Even my 61 year old spousal equivalent, Todd, has learned new technology in the Mobile Texting platform to grow his own business as well so he works for himself now too.

    Multiple streams of income, freedom in the use of your time, not waking up to an alarm clock , not putting up with DICKS for bosses..all make for a much saner life..
     
    Rebecca Holman
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    hannah ransom wrote:More people watch videos because...

    1.) Visual.

    2.) (and this is a big one) They are shorter.


    Hannah, not sure if you know but Paul has a HUGE amount of videos on YouTube..but not all topics are relevant to a YT video..
    unless you are going to do a hangout..

    Podcasts are still a very viable medium because You can listen to the podcasts in your car, download them to your phone..and so forth..much smaller files than Videos.

    Also videos are not necessarily shorter..I know people that have the ability to have hour long videos on YT, they are called Hangouts, so a video
    is NOT necessarily shorter..it would depend on the topic..instructional videos would, be longer by definition,
     
    hannah ransom
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    Hi Rebecca,

    I know about Paul's videos. I was saying that more people watch his videos because they are shorter than his podcasts (I've never encountered a PW podcast less than an hour, it seems, and his videos are usually less than 10 minutes). People suffer from extremely short attention spans.

    So yeah, my comments were just in relation to Paul's stuff, not all videos/podcasts in general.
     
    Ryan Mitchell
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    Hello All!

    So as mentioned I run a website, which is on tiny houses. Each month we have a online get together where we have a few guests and talk about some topic as it relates to simple living. Paul's podcast inspired me to do this months chat on building micro businesses and simple living. It is the ultimate pairing, reduce you financial needs through simple living while boosting your income. Below are the details, its all free and always a good time.

    This month we will have Kacie Erickson, Ryan Mitchell and Macy Miller will be on to talk about businesses and tiny houses. How to set up your own micro business to free yourself from the rat race and start to maximize your life's potential! We will talk about how to go about setting up and running your own business, limitations and benefits of doing that in a tiny house. The more people who are a part of this conversation the better off we will all be, log in and join us with your ideas, questions and concerns, lets hash some info out together!

    This chat will be:


    Monday, September 2nd, 2013

    8pm-9pm Eastern Time (5pm-6pm West Coast)

    Meeting at: www.anymeeting.com/tinyhousechat1

    RSVP at: https://www.facebook.com/events/1412818222264074/

    Mark your calendar!


     
    Mike Leo
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    In the podcast a topic came up which was of great interest to me, and it's actually the reason I created my forum creds after lurking for a long time.

    Paul, you mention that there are lots of questions just waiting, even begging to be answered in the forums here at Permies and I know they are scattered throughout threads and comments here. While I am hardly an expert on many subjects I know that I personally learn a lot trying to answer questions and the things I do know I have a solid grasp of.

    Do you think it would be beneficial to Permies if individual posts or comments could be flagged as questions? If the post creator, or a forum mod could flag a post as a "question that needs answering" then there could be a separate place where people who want to help by answering can check for questions and respond without having to read every post and thread to find the individual questions.
     
    Ryan Mitchell
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    Just a head's up, we had to hold off on the tiny house chat because our speaker had a family emergency. We are going to be doing the tiny house chat next Monday, online at 8pm

    You can RSVP at the same page: https://www.facebook.com/events/1412818222264074/
     
    Erik Little
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    Probably one of my top 5 favorite podcasts Paul.

    You mentioned the risk factor and Entrepreneur's are known for taking risk which is why they are rewarded the most. Not everyone is a Linch Pin but Linch Pin's need a good support team.
     
    Benett Freeman
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    I'm trying to find a way to listen to this podcast, as it relates to an article I'm writing now on permaculture and capitalism, but I keep getting server errors.

    Also, sorry to chime in a little off-topic, but I couldn't help but notice this:-

    "I assumed people would absolutely JUMP at the opportunity to have rent-free land and amazing food provided for them and fun farm/land work. I guess I was wrong.

    I would be out at your land in a second if I wasn't married to someone that wants to be in (a specific) school, so my location options are limited. I love cooking, and I can't believe someone hasn't taken you up on that! It's even a paid position."

    Is this opportunity real and available, Paul?

     
    Erik Little
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    Here is a possible idea of a residual income for some aspiring Permaculture Teacher. Make a subscription service with ROKU (or online) to have a PDC viewed through it, then have the students send you their design once they have completed the course. This could be done either a flat monthly fee or pay for each lesson. I personally don't have 2 weeks to just run off and take the class nor can I do the weekend model. I need a study at my own pace class. I would need an email address to send my questions to.

    The closest I have seen of this is geoff lawton's online PDC but that requires too much upfront capital that I don't have. The next closest is Midwest Permaculture with Bill Wilson and their self-study course only goes up to a point and then you have to finish onsite. I could do a pay per lesson type of thing, yes it would take me longer but that is the only way I can see me getting a PDC.
     
    Matt Powers
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    I get residual income from music... it's a tenuous thing. I have SO MANY FRIENDS all over the US that are starting to scrape the bottom; there's just not much $$$. I think USEFUL residual incomes are vital. I don't think Music is a good example (despite getting 300-1000 per quarter, it's just not realistic; my career was a fluke IMHO). I think all things Permaculture has value that will be valuable throughout time. Music can be had by anyone with some time on their hands & desire.
     
    I found a beautiful pie. And a tiny ad:
    Mike Oehler's Low-Cost Underground House Workshop & Survival Shelter Seminar - 3 DVD+2 Books Deal
    https://permies.com/wiki/48625/digital-market/digital-market/Mike-Oehler-Cost-Underground-House
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