Five “Realistic” Methods of Producing Passive Income | DO 11

Although producing “passive income” is not a get-rich-quick idea, it is probably the quickest and surest path for the average person to attain financial independence and freedom. There are several methods and strategies of producing passive income. Unfortunately, many are not realistic for the average person. With the advancement of technology and the Internet, however, producing passive income is more accessible and easier than it has ever been.

On this episode of Your Do Over, Matt shares the 5 “Realistic” Methods of Producing Passive Income that he’s incorporating into his own “Do Over,” but more importantly… he shares how you can do the same.

Passive IncomeAlthough producing “passive income” is not a get-rich-quick idea, it is probably the quickest and surest path for the average person to attain financial independence and freedom. There are several methods and strategies of producing passive income. Unfortunately, many are not realistic for the average person. With the advancement of technology and the Internet, however, producing passive income is more accessible and easier than it has ever been.

On this episode of Your Do Over, Matt shares the 5 “Realistic” Methods of Producing Passive Income that he’s incorporating into his own “Do Over,” but more importantly… he shares how you can do the same.

Your Do Over | Discover a Better Life | Get Lasting Results | Inspiration | Motivation | Success (mp3)

Resources mentioned in this episode:

Podcast Transcript:

Matt: This is the show you’ve been waiting for. It is finally here.  Today we are going over five realistic methods of producing passive income. This is Matt, “The Do Over Guy,” and this is Your Do Over: Episode 11.

Announcer: During an era where countless people, businesses, and organizations are feeling the pinch, running out of time, running out of money, losing confidence, feeling as if life is unfair, praying for another chance and unless something is done, life is going to pass them by. Life is going to pass them by.

Fortunately, in the nick of time, there is now a place where the ignored, underestimated and unknown steps to producing results and making life work are revealed. Save your career. Save your business. Save your health. Save your relationships. Save your life. Get from where you are to where you want to be, faster and with greater ease than you ever thought possible.  Say hello to Your Do Over.

Matt: Welcome to Your Do Over, the place where once a week you will hear, learn and take action on the ignored, underestimated and unknown steps to producing results. This is the show where I show people dissatisfied with their current situation how to start over and start a new life. I show people how to set goals and objectives so that they can create wealth and live life to the fullest easier, faster, smarter.

You can get a head start and lay a solid foundation for a better life using the Three Pillars of Creating the Ultimate Do Over, and you can get that for free at FreeDoOver.com. It’s a 55-minute MP3 audio program that I made just for you – yes, I made it just for you! – with three specific steps on how to achieve success as you start over. Now it’s yours for free at FreeDoOver.com.

I’m getting a lot of feedback from that program by the way, and if you haven’t taken me up on the offer, you might want to do that right now. You might want to wait until today’s show is over, as you’re probably not going to want to miss this.

Having said that, the free audio program I’ve put together is going to help you get started ASAP should you want to implement in your life what I’m going to be discussing today. I’m coming to you live from downtown Los Angeles. I am recording from my loft today.

Let’s get into the subject. Today’s subject: five realistic methods of creating wealth through passive income. I put the emphasis on realistic. There’s a lot of stuff out there. There’s a lot of trash out there. There’s a lot of theory out there.

I wanted to share with you five realistic methods that I’m implementing in my do over. You see, generating passive income has become a primary focus of mine over these last few years, and I constantly have my eyes open for new methods and systems for producing it. I test a lot of them, implement what works, and throw out the rest.

First of all, what is passive income? There are several definitions you can find online, but for the sake of today’s podcast, passive income will be defined as income received on a regular basis with little effort required to maintain it.

However, do not misinterpret our definition of “little effort required to maintain it” with “little effort required to produce it.” You see, producing significant income, whether it’s passive or active, it takes work. Passive income is not a “get-rich-quick” idea. Quite the contrary, actually. You’ll certainly get rich quicker than anything else I’ve found out elsewhere, but it’s certainly not get rich quick.

We all have to earn a living in some way, but we have the choice of how to we’re going to earn it. We each have that choice. We can be an employee or self-employed person and exchange time for dollars, or we can create systems through businesses and investments to produce the dollars for us.

The former doesn’t really appeal to me whatsoever. The concept of “no work, no pay” is probably the biggest killer of financial independence. In fact, I saw a bumper sticker like that years back and it said “The job is the biggest killer of financial independence.”

There are certainly some exceptions to the rule. However, as they say, the exceptions only prove the rule. The latter, creating systems through businesses and investments to produce our living for us, that’s much more appealing to me. You know your situation better than I do, but it makes sense to me.

Let me ask you this: do you want to continue working 50, 70, 80, 100 hours a week for the rest of your life, or maybe the next 40 or 50 years until you’re able to retire? Or, do you want to work 50, 70, 80, 100 hours a week for the next few years and never have to work again?

To me, that’s the real difference. As I’m illustrating here, it’s going to be hard work one way or the other. But the significant difference is for how long you want to do that hard work. I just want to make that clear to you. It’s going to take work. I don’t want to be lumped up with all the crap online declaring you can earn $20,000 a week your first week and you don’t even have to get out of bed to do it. That’s not what we’re talking about here.

There are two ways to get to this point where you don’t have to work. Let me clarify that. There’s nothing wrong with work, and I’ll probably continue to work for the rest of my life. But where I’m going is to get to the place where I don’t have to work. I get up in the morning because I want to, instead of having to.

There are two ways to get to this point where you don’t have to work. You can focus on either increasing your passive income, or you can focus on reducing your expenses. The fastest path to financial independence where you get that time freedom and money freedom is to do both. Increase your passive income and decrease your expenses.

As soon as your monthly passive income surpasses your monthly expenses, you’re essentially done. You have enough money coming in every single month, whether you go to work or not, that it pays your expenses. You are done at that point, or at least have the option to be done. Any time you find an activity that does both, it deserves your attention and effort.

The first realistic method of creating passive of income does both. It increases your passive income and it decreases your expenses. And it happens to be my primary focus. It’s what I get up and do every day. That’s real estate investing.

There are many different strategies to create income in real estate. That income can be broken down into two categories.  Massive income, which would come to you typically by wholesaling or fixing and flipping a property; shorter-term strategies.

And then there’s passive income, which would come to you typically by buying and holding. Now you can buy and hold property or you can buy and hold notes. Another word for notes would be mortgages. You can become the bank. That’s another form of buying and holding.

Now buying and holding sounds pretty straightforward. You buy and you hold. You buy a property, place a tenant in the property, they pay their rent to you every month. You take that rent and pay the expenses on the property. If you did it right, there’s something leftover for you at the end of the month. We call that cash flow, or passive income.

Now, it is that straightforward.  However, if you’ve ever owned a property, you know that  there’s plenty that can go wrong, and for some reason, it typically does for the newbies. Unfortunately, real estate get a bad rap.

As many horror stories as you’ve heard, they’re probably all true. But there are horror stories with any type of investment. There are horror stories with any type of business.

But the reason I like real estate investing so much is it’s probably the one investment strategy, the one passive income stream where you have the most control, where you’re able to influence and manage your income.

That all comes just through education. There are a lot of people out there that I actually talk to every day, they think they know what they need to know about real estate investing. But the thing is, they never get out there and actually do it. And to know and not do is the same as to not know.

I would really recommend before you take on any sort of endeavor in real estate is that you get at least a basic foundation of education. The next step might be actually to find a mentor, someone that has done it. Preferably, someone that is doing it right now and preferably someone that is doing it at the level that you want to do it.

Real estate is one of those industries or one of those fields where you can find a self-proclaimed expert on every single corner and they’ve all got their ideas and methods. It only takes a small amount of conversation to find out that most of those people don’t even own any real estate or they did a transaction 20 years ago and they’ve classified themselves as an expert. So be careful out there.

There are a lot of places where you can get some information about real estate. Some good; some not so good. I was fortunate enough to stumble across an opportunity – or I should say an educational program and a system that actually had a lot of resources and contacts built in, where it actually enabled me to take that education from the classroom and go out and put it to work in the real world.

I’m in this program with a lot of like-minded people, thousands them across the country and I’ve heard some horror stories out there. There are a lot of really, really expensive programs. There are a couple people I know that have spent over $100,000 on their education and by the time it was all over, they hadn’t even conducted one real estate transaction. So be careful.

I was fortunate enough to find this program. It was my first time out, so I don’t have those bad experiences with educational programs, but I was able to find a program that was a fraction of that, not even close to that much money.

I’m a full-time real estate investor now and I got here reasonably fast. It didn’t take me a whole lot of time to get up and running and to start producing some really good results. So if you want to check that out, you can. It’s TheInvestorIntroduction.com. You can register for a free introduction in your area. You can check that out.

Like I said, do your homework, do your research. There are a lot of options out there, but this is what I chose. It works for me. TheInvestorIntroduction.com.

Realistic method of producing passive income number two: Write a book. Everybody has a story to tell. Everybody deserves to tell it. That’s just what I believe. I came out of the music business thinking everybody had an idea for at least one hit song. That’s why we have so many one-hit wonders. They had that one idea, they acted on the idea and viola! They had their hit.

I actually believe the same thing with a book. Everybody has a unique story and I believe everybody deserves to tell it. There’s someone out there that’s going to benefit. There’s someone out there that will be entertained by it. There’s someone out there that’s going to learn from it. That can be a form of passive income, by writing a book and selling it.

Becoming a form of passive income, it’s probably easier today than it has ever been with the advancement of the Internet, the advancement of printing services, the advancement of do-it-yourself publishers.

It took me a really long time to write my book because I was unaware of this industry, this do-it-yourself industry. I was under the impression that I had to write this book, then I had to save a bunch of money to go get a copies pressed and then I was going to have to peddle them on the street corner because I didn’t think I was going to get a publishing deal. Who’s going to give me a publishing deal? No one has ever heard of me. Why should anybody read my story?

This is all the stuff I had going around in my head and it’s absolutely untrue. And it’s untrue for you as well if you’re thinking the same thing.

I stumbled across this whole industry. It’s the print-on-demand industry, a self-publishing industry. You don’t have to print up a bunch of books. The technology of printing has advanced so far that they can print one book at a time. You can go and sell a book and then order it. So you can actually sell it before you’ve actually printed it. That’s a pretty much no-risk business.

Then they’ve got self-publishing houses where they’ll do all of the work for you. I did a bunch of research. I found a lot of great companies, but I did settle on one. If you don’t know how to get started, like I said, there are countless resources online, but I investigated so many of them, I found a really great service all under one roof. They do pretty much everything. If you want to check that out, that’s WriteABook.biz.

Not dot com – biz. Because you are going to take this book and you are going to create a business out of it. You are going to create a form of passive income for yourself. WriteAbook.biz. You can go there and just request a free publishing guide. That’s going to get you started right. They have a bunch of great resources and they show you how to prepare your manuscript. They show you how to edit it. They show you how to design it, how to market, set it up so it’s marketable, go through publishing terms and legal resources. They have all of those resources.

And then they have all the services, actually. So if you don’t want to do that stuff, they’ll do it for you. They’ve got a design service, they’ve got an editing service, they’ve got a production warehouse, they got the marketing services, the press releases. They’ll do all the Internet marketing for you, email campaigns, online video services. They’ll do radio services. Publicity, expert positioning, advertising. They’ll set up book signings, they’ll do the direct marketing. They’ll do it all for you. All you really have to do is write and they do the rest for you. They’ll even sell it for you and they’ll distribute it for you.

My book right now is on Amazon.com. It’s on Borders. It’s on Barnes & Noble. It’s available at all those places as well as my website. If you want to go check that out, you can at DoOverBook.com. You can go see what I put together and how it’s working for me. I sell maybe two to four copies a day from my website. I think I’m selling them right now for $20. I sell four of those a day, it’s $80 a day in passive income. I’m not going to retire or get rich off that, but it certainly helps pay the bills.

That’s available for you. Go to WriteABook.biz. That’s the first step. If that’s something you were wondering about, don’t delay like I did due to ignorance. It’s easier and cheaper than you think.

Realistic method of producing passive income number three: Network Marketing. I can already hear some of you snickering or cringing just at the thought of that. But if you find a good company with a product you believe in and follow it up with some serious sweat equity for a couple of years, you can reap passive income for life off of those efforts.

It’s been said that if you do inside of network marketing for the next two years what most people won’t do, you’ll be able to do for the rest of your life what most people can’t do.

Regardless of what stigma it has attached to it – pyramid scheme, multilevel marketing, Ponzi scheme. There are all types of names that are all lumped into one pot. But they’re not. They’re all very, very different.

First of all, Ponzi scheme is illegal, pyramid scheme is illegal so it’s not that. Multilevel marketing is just a pay structure. What most people don’t realize is multilevel pay structure, that’s corporate America.

You’ve got the President, you’ve got the couple Vice Presidents, you’ve got the directors, you’ve got the coordinators, you’ve got the assistants, you’ve got the mailroom clerks all the way down. And the top levels make money off of the efforts of the people below them. That’s corporate America. It’s been around forever.

Try and put your vices aside, your stigmas aside. Networking marketing, it’s quickly becoming a staple in the business world as more and more respectable businesses of services and products adopt this as their business model.

In fact, Donald Trump, if he lost his fortune tomorrow, he’s on a record of saying he would climb his way back to the top through networking marketing. In fact, I even saw an interview with him where he said this. He was in front of a live audience.

“Mr. Trump, if you were to lose everything today, how would you get it all back? How would you start over?”

He said, “Oh, easy. Network marketing.”

The crowd laughed. They thought it was a joke. Trump turned to the audience and looked at them very seriously and said, “That’s why you’re sitting out there and I’m sitting up here.”

Trump recommends budding entrepreneurs give it a go. Not only is it a sound business model, it is an excellent environment to test yourself to see if being a business owner is the right thing for you.

It’s not easy being a business owner. It’s not easy creating passive income. Within network marketing, a system is already in place so you can hit the ground running. The inconveniences that a company, say a franchise or opening up a small store of your own, you don’t have to manage employees, you don’t have to keep track of inventory. All that stuff is absent. It’s all taken care of for you.

There are countless companies to choose from. Some are much better than others. Some are absolutely terrible. You’re going to have to do your homework.

How do you choose? Well, based off my experience, and I’m currently active in a couple of network marketing companies of good products and good leadership that I found. It’s not my full-time gig, but I certainly refer people to the programs whenever the subject comes up and it pays me some passive income.

So based off my experience, how would I choose?

I would recommend the following before making any final decision:

1. Pick a product that interests you. More importantly, one you would purchase and use yourself. If you don’t believe in the product, your customers won’t either and you will not last. It will be a tough lesson in futility.

2. Meet as many people within the company as you can. Keep your antennae up for shadiness. The longer I’m in this environment or I’m around other network marketers I find that it’s not necessarily networking marketing that’s shady, it’s not necessarily that multilevel marketing is shady. It’s oftentimes the people that it attracts giving it that shady reputation.

So meet as many people within the company as you can, keep your antennae up, listen for over-embellishments, half-truths and specifically flat-out lies. Trust your gut on this one. Your first instinct is typically correct. Trust your instincts fast. A good indicator is to listen to the individual pitching the product. If you hear something along the lines of “Our product will make a blind man see…” I actually had someone say something very similar to that to me once. Or “Our product will make you rich overnight” or “There’s no work involved. It’s easy. It practically builds itself.” Head for the door. Look for another company because that’s not accurate. It’s tough work, but it’s rewarding work if you take it seriously.

Now if the compensation plan requires you to recruit a small country for it to work, it’s going to be a great practice to attempt such a feat, but the effort is really futile. The promise of the residual dream in so many of these companies is really a residual lie, especially if you don’t get in on the bottom floor with this type of compensation plan.

The sales process in every company, it’s the same. You’re going to be required to do the exact same activities. You’re going to be required to see the people, tell the story, build for events, follow up. You’re going to have to do those same activities to product your success.

So pick the compensation plan that pays the most and pick one that pays in multiple ways. Pick one that’s going to pay you some good money today. Pick one that’s going to pay you some good residual money, like some monthly passive income. And pick one where there’s some incentive down the road to build something really big, maybe in the form of stock options or a founders pool or something like that where there’s a nice potential prize down at the end of the road as well.

Ideally, you want to pick a company where your success within that company is not dependent on your ability to sell the product. Now these are few and far between, but your chances of success are far greater within a dual income opportunity, meaning you can generate income selling the product, but you can also do so by using product.

Now, like I said, there aren’t many companies that satisfy all of these criteria. You see, doing over in network marketing, it can be frustrating and exhausting. So take your time to make the right choice.

Fortunately, I was able to find a couple of great companies that do meet all of these criteria. I’m not going to promote them on the podcast; that’s not what this is about. But if you can’t find one that suits you, you’re free to take a look at the two I’m still active in and work directly with me. If you want to have a conversation about it, feel free to send me an email with your phone number to [email protected] I’ll just give you a quick call and we can have a quick conversation to determine whether working together in one of my two companies makes sense for you or not. Or maybe I can give you some advice or guidance about the ones that do interest you. I’m happy to do that.

But networking marketing, don’t count it out because it was a punch line once at a party and the entire room erupted at the mention of it. People laugh at the things they don’t understand. And if nothing else about network marketing, you’ll want to understand that there are very successful and very wealthy people in the industry receiving obnoxiously large amounts of passive income. I take it on. It’s working for me. I wouldn’t endorse it if it wasn’t actually working for me. But it is one of the most challenging things I’ve ever done. Keep that in mind.

As with all of these methods of passive income. They’re all challenging. I had to learn something new in every single one of them.

Realistic method of producing passive income number four: Internet Marketing or Blogging. Now this, over the past year or so, it’s become almost a guilty pleasure of mine and I’m happy to say it’s finally working for me. I had a slow start, but it’s finally working for me. It could’ve worked a lot sooner if I had followed my own advice in my book and sought out a mentor before getting started.

I found a great company. They’re kind of pricey, but compared to the money that I squandered in countless little $49 e-books, I should’ve just went here first and bought the whole enchilada. Not only would I have saved some money, but I would’ve saved a ton of time and spared myself a ton of frustration.

This little company that I found, they literally give you a step-by-step plan to create your own Internet business. Again, it’s work. These all take work. But this is the one program, and unfortunately I didn’t stumble across this one first like I did my real estate investing program, but they hold nothing back. They give everything they’ve got. They’re pretty awesome. I just love things that are step-by-step. I can follow instructions, and if the instructions are good, I’m going to be successful at it.

One of my favorite quotes is “If you do what you love, you’ll never work a day in your life.”

An Internet business, in my opinion, it gives each and every one of you the greatest shot at living this quote, of making this quote your reality. Through the Internet, for relatively low start-up cost – my education on how to do this has been by far my biggest expense.

But starting up a business is extremely inexpensive. Starting up an Internet business is extremely inexpensive. Maybe $150 on the low side.

And even if you wanted to just go crazy and pick up all of the bells and whistles and go first class, you’d have a tough time spending $1000. You can create a very lucrative business, a very strong and lasting stream of passive income for a very minimal investment.

Now everyone wants to take control of their own life, right? That’s what an Internet business is control. I love passive income that you can control.

The system I used, and there are countless systems and approaches to this out there, but they all teach, I should say, the scrupulous and honest systems. There’s a lot of stuff out there you’re going to want to watch out for. But they all teach relatively the same thing.

You’ll see these principles to building an Internet business packaged and presented in countless ways. At the end, it’s all mostly the same stuff. When I first started to notice real progress was when I signed up for InternetBusinessPlan123.com. Anytime I hear that “123” or that “ABC,” I’m immediately attracted because I know it’s going to be step-by-step.

So when I signed up for InternetBusinessPlan123.com, that’s when my business started to take off. I wouldn’t say it’s skyrocketing, but it is producing passive income for me now.

What’s so cool about them is they show you how to actually design the perfect lifestyle for yourself, not necessarily the perfect business, but they take your whole life into consideration and what type of lifestyle do you want and they show you how to take your passion, create a business around that to produce the type of lifestyle you want.

They create the lifestyle doing exactly what you want bringing you the happiness and the satisfaction that each and every one of us deserve.

So go to InternetBusinessPlan123.com. They give you a bunch of free stuff there, by the way, to get started. You’ll get full access to a 45-minute information-rich audio presentation that gets you started. They give you something called “The Lifestyle Design Chart.” You use that to fill out after you listen to the full program. You use it as a guide to keep you on track with every decision that you make in your business.

The simple chart, it helps you achieve the lifestyle you want and it keeps your business running with or without your involvement. That’s my favorite part. That’s why I love passive income so much is it work with or without you.

They’ll also give you a free 30-day no-risk trial membership to their academy. If you take them up on this offer and dig in and commit some time to it and make the most of your 30-day trial, you’re going to make some significant strides during that period – so much so you’re not going to want to give up your membership. It’s like the ultimate puppy-dog close. They give you so much information, you’re not wanting for any more. They show you how to produce results really, really quickly.

So if running an Internet business that you can set it and forget it is of interest to you, go to InternetBusinessPlan123.com. It’s the best place to start, at least in my experience. Even if you don’t participate in their program, you’re going to get a ton of great, free information.

Realistic Method of Producing Passive Income Number Five: Licensing. To license or grant license means to give permission. You see, a license that may be granted by a party, which we call the licensor, to another party we call the licensee, as an element of an agreement between those parties. A shorthand definition of a license is, essentially, an authorization to use the licensed material.

There are several types of products, services and information that can be licensed. Intellectual property, software, trademarks and brands, artwork or character licensing.

So if you have an idea, or product or service or some exclusive information, you can license it for others to use which can create passive income for you.

Now this is something rather new for me, so I haven’t actually produced any income from it yet. But I have a big interest in it predominantly to support the Internet business I’m building.

You see, when you run an Internet business, you obviously need something to sell or else you don’t really have a business. You have a few options. You can create a product or service of your own and market that online or you can represent somebody else’s product as an affiliate and earn a commission every time you sell their product or you can license somebody’s product and place your own brand on it.

Now I learned about this a few years when I first read “The 4-Hour Workweek” by Timothy Ferriss. Licensing has been around forever, but I really did just learn about it a few years ago with regard to how I can implement it in my business to create passive income. It seemed like something that was up there available only to the bigger business people. But it’s actually readily available to even the small business owners like myself.

So as I perused the Internet for good real estate investing and personal development products that I could sell on my two websites and I looked for stuff that I could license, I found most of them… Let’s just say they either needed help in the quality department or they were seriously lagging in the integrity department.

As many as there are to choose from seemingly indicates that there is a demand for these types of products, but they all just stink and I wasn’t comfortable putting my name behind them. At least, that was my experience.

So I’ve decided to create a few of my own. I’m creating a real estate investing product and I’m creating a personal development product. But rather than sell them exclusively on my own website, I’m going to do what’s called white label them and allow other Internet businesses to license them from me so they can put their own labels on them.

That’s from where the additional passive income comes. I will make passive income by selling those products on my own websites, but I’ll create an additional income stream by allowing other Internet businesses, other websites, to put their own label on my products and market them as their own.

Now I’ve never done this before and I wasn’t sure where to get started. I only knew about it in theory. So I did the logical thing that we all seem to do when looking for answers. I went to Google and started my search.

After reading and researching several possibilities, I decided on one and purchased their product. I think it was $149 or something. But so far, it’s really, really good. Personally, I like step-by-step instructions. I’m following along and everything seems to be coming together so far.

So, for now, I give this my endorsement. It’s Licensing123.com. You can see a theme of what attracts me. If you put an ABC or a 123 behind it, I’m all in.

So if you have an idea for a small how-to book, a little widget, piece of software, a special character you doodle on napkins and scratch pieces of paper, whatever it may be, go to Licensing123.com and you can read a bit more. Perhaps this is something that you’ll want to do for passive income.

This particular site, it’s heavily focused on life coaches and speakers, but the concept is sound and it’s going to work for any idea you have that you think is licensable. Their sales pitch and their landing page are pretty salesey. I’ll give you that warning. But don’t let that get in your way. The product seems credible.

But their sales pitch is so that they’ve got a step-by-step proven road-tested program that shows you exactly how to start licensing your own workshops, speeches, publications and training materials. My experience thus far has been really, really good.

This is what really attracted me. For the price, they give you a ton of information. You’re going to learn clear, simple, step-by-step instructions what a licensing program is – I certainly needed to know that – and what it can do to build your business, how to tell if your program can be licensed successfully, when it’s the right time to license your work. And when it’s the wrong time – that seems just as important. How to license if you don’t have a workshop or program set up already, how to find your own niche in the licensing marketplace, how to title your training program so it attracts the perfect trainees and plenty of them.

Everything to include to make your training program complete. A personal rolodex filled with their favorite road-tested resources like printers, designers, CD and DVD duping houses, and the perfect fulfillment and shipping vendors, which types of licenses to use, pricing and payment models that work and those that don’t, the ABCs of packaging, processing orders and fulfillment and shipping. Just totally setting this up as an automated business and setting up as another stream of passive income for yourself. They literally give you all the nuts and bolts of exactly how to create your own licensing program in a way that no one really has ever done before – at least that’s my interpretation of it.  So go to Licensing123.com.

Those are the five realistic methods of producing passive income that I’m implementing in my do over. I know there are others out there, but I can’t speak on them as I’ve never used them. I can only speak on what I know and what my experiences are.

I referred you today to what’s working for me. Maybe they’ll work for you. Maybe they won’t. So do your own research. But if you’re anything like me and you just want to get started, I’m pretty confident in putting my name behind the resources I mentioned today. If you didn’t get to write them down, I have them all conveniently listed in the show notes at TheDoOverGuy.com.

This is podcast episode number 11. Just click on “Podcast” on the right-hand column of the homepage and you’ll be taken to the show notes and transcripts of all my podcasts.

That’s it for today. If you like what you heard today and/or if there’s something that you’d like to hear more of as you begin a new life, as you do over, please visit iTunes at your convenience and leave your comments and suggestions. Much appreciated.

I am Matt, the Do Over Guy, and I will see you next time on Your Do Over.

Narrator: Thank you for tuning in to Your Do Over, where the ignored, underestimated, and unknown steps to producing results and making life work are revealed. And remember, knowledge is potential power. Take action on what you learned today. This is not your learn over. It’s Your Do Over.

To view the resources referenced in today’s show and to receive a complete show transcript, visit www.TheDoOverGuy.com. Stay connected with Matt, the Do Over Guy, Theriault on Twitter at TheDoOverGuy and on Facebook at www.facebook.com/dooverguru