Once you get good at licensing, you can generate new revenue streams by acting as a deal-maker. This may seem daunting if you’ve never done it before, but with practice it can be a lot of fun. You can get paid to act as a matchmaker.
So please note that you can create streams of passive income from intellectual property even if you don’t own the property or the sales platform. You can get a cut of the action for being the deal-maker, and deservedly so.
For several years I’ve worked with a guy who helps me find good joint venture deals.
He’s well connected in the personal development field and seems to spend most of his working time on the phone. He knows people who have great products and services. And he knows people who have sizeable audiences like me. He connects one with the other, helps massage the deals into place, and enjoys a share of the revenue created by these deals.
These income streams have paid off his mortgage. He didn’t receive any special training for this, but through life experience he discovered that he was good at introducing people to each other, and he found a great way to turn that into multiple streams of income.
Note that he gets paid not for the introductions (i.e. not a finder’s fee); he gets paid a small percentage of revenue from each deal he helps to close.
If someone brought you an easy-to-close deal that earned you an extra £1000 per month, would you be willing to pay them £100 per month from that revenue stream for doing the legwork?
Some people are so good at deal-making that they can generate millions in passive income with just a few phone calls. There’s real value in connecting two or more people or businesses that can synergies their resources, if only they knew of each other’s existence.
Our goal is to find multiple income streams, and the more passive the better.