How to Get to How to Get $5,000 a Month Passive Cash Flow | Myron Golden

How to Get to How to Get $5,000 a Month Passive Cash Flow
by Myron Golden

Find out more here:
https://thelongercrowbar.com/myron-golden

0:00 What's a Continuity Program?

You want to create what's known as a continuity program. What is a continuity program? It is something that you buy once but pay for monthly. Netflix is a continuity program. Amazon Prime Video's a continuity program. Apple Music is a continuity program. So then the question becomes what kind of continuity program can we create? Cause I'm not gonna start Netflix. I got here too late for that, right?

One of the reasons people struggle is because they pay out money on continuity payments every month, but they don't get paid on continuity payments every month. You have bills on autopilot, but you don't have money on autopilot. Might as well put some cash flow on autopilot.

I like to get paid every day. You wake up, you're richer than you were when you went to bed. I'm just telling you how it works. I'm telling you what my experience of life is and I'm telling you that not so you can think I'm awesome, but so you can know that that's my experience of life. That can be your experience of life.

People say, "All I want to do is just help the poor and spread the gospel." If you had more time, you could spread more gospel and help more poor people if you had more money.

2:36 How Can I Create a Continuity Program?

I started with a membership site where people pay you a monthly fee for access to your content.

Let's say you have a membership site and it's a hundred dollars a month to have access. I've paid for membership sites. The most expensive membership site I ever paid for was $800 a month for this internet marketing training membership site called Stompernet. A hundred dollars a month to me seems reasonable. So if you're at a hundred dollars a month, all you need is 50 members and you are Virtual Millionaire. How awesome is that?

I've got a friend, he's got a membership site. He charges $80 a month. He's got 7,000 members. How much is that? $560,000 a month. This is how people create wealth passively.

4:18 What's a Newsletter?

You could also do what's known as a newsletter. A newsletter is a letter that you pay for every month. You might pay $100 a month.
You might pay $100 a year. You could have a weekly newsletter.

Let's just say your newsletter is $25 a month. All you need is 200 members. Congratulations. You're a Virtual Millionaire.

5:15 Be the Bank

This is my favorite continuity program. It's called "Be the Bank." That means you sell stuff to people on payment plans. Oh, hallelujah. The bank loans money to people all the time. And then you make payments. If it works for the bank, why don't you do it? Let's say you have a coaching program that you sell for $55,000/month. People put down $28,500 upfront. And then they pay $510 a week for a year to pay off the balance
.
20 people doing this is $100,000. 40 people doing this is $200,000 a month. If you do this times 40, it's $220,000 a month before you get outta bed. This is something anybody can do.

6:51 Software as a Service

SAAS. Software as a service. What is that? That's a software program that people pay you monthly for. There are many software programs that I pay monthly for. I pay $500 a month for Zoom. Well, if Zoom has a million people paying 'em $500 a month, that's $500 million a month.

You might not get to $500 million a month, but if you got something that's $500 a month and you get a hundred people paying you that, that's $50,000 a month. This actually works, y'all. Our continuity revenue in this business is about $240,000 a month before I get out of bed. Do you think I ever worry about payroll? Nope. Do you think I ever worry about like taxes? Do you think I ever worry about paying the mortgage on this building? I don't worry about any of it.

7:52 Conclusion

This is how I live my life. And I know you can live your life like this, and for those of you who think money's not that important or you don't care that much about money: if you had however much you're going to work and trading 60 hours of your week for right now, 40 to 60 hours of your week for right now... if you could get all of that time back and go do all of the things that you are proclaiming are so important then you'd probably be in a better space and you'd be able to help way more people than you can help right now.

So if this made sense to you, like the video, share the video, and comment on the video.

All right. Peace out Cub Scouts and I'll see y'all in the next video.

How to Get to How to Get $5,000 a Month Passive Cash Flow