There’s something that needs to be said - you will never get rich working a regular job. It may sound rough but it’s the truth. If you spend your 9 to 5’s getting paid by the hour or per task, you’re always going to be helping somebody else get rich.
"The secret to wealth is by making money while you sleep.” - Daniel Rosen
And how do you do that? You’re about to find out!
How to Make Money While You Sleep
The main obstacle for getting rich through having a regular job is that you are limited by the amount of time that you put in. And all the money that you get for your effort is a one-time deal. Maybe a bonus here and there, but the model itself is fairly limited.
So you need something different. Something that will allow you to make money while you’re not working. And the secret to that is a recurring revenue model.
In case you’ve never heard of it, it’s a pretty straightforward idea. A recurring revenue business is run on subscriptions; the customers pay a specific fee for either a product or a service every month.
So why exactly is recurring revenue the best way to earn a lot of money? Let’s say you’re looking to start your own credit repair business. If you offer a credit repair service for an affordable monthly fee while providing your customers with great value, you’ll be increasing your revenue each month simply by adding clients. It’s still hard work - but hard work that pays off.
As you sign more and more clients, your monthly revenue starts growing proportionately. Now let’s say you charge a $99 subscription and you add just one client a day. After the first month, your monthly revenue grows to $3000. If you continue to work hard enough to keep up with that pace, after six months you’ll start making $18000. By the end of your first year, you’re looking at $36000 a month.
What happens when you get to reach 842 clients? Well, if you were running your business through Credit Repair Cloud you get to join a very special group of people - our Millionaires Club.
How to Start a Credit Repair Business With No Money
People use all kinds of excuses in order to stop themselves from starting a business. And believe me when I say this - I’ve heard them all.
One of the major delusions people have around starting a business is that you need money in order to get going. That’s not entirely true. Sure, a lot of times people decide to save up and set aside some capital upfront before they start their own company. Then again, there are also people who have learned how to bootstrap.
“Bootstrapping is building something from nothing.” - Daniel Rosen
To bootstrap a business means to work on it bit by bit at a pace that you can afford. That’s something that literally anyone can do. I know it because I’ve done it myself. It may surprise you but Credit Repair Cloud is actually a result of a lengthy, gritty bootstrapping process. If you want to hear more about my crazy story, check out our previous episode.
I spent years developing the Credit Repair Cloud using the bootstrapping method. Day in, day out, little by little… But after three years, I came up with the first version of my software and it was also the very first step of my success. Every success I’ve made since then has been a direct result of using a recurring revenue model.
No Need for Reinventing the Wheel
“I know you can do this. I have complete faith and belief in you and I want you to have faith and belief in yourself as well.” - Daniel Rosen
In recent years I’ve given away books, courses and all sorts of material on how you can start your own credit repair business. This podcast is also a part of my efforts to help people learn valuable insights without having to deal with the excruciating trial and error process. I went through it, I learned a lot from my mistakes and I sincerely believe you don’t have to.
There’s really no need to reinvent the wheel at this point. All you have to do is model your success using the stories of those who’ve made it before you.
One of the reasons I’m doing all of this is because I know that the content I’m sending out right now would have made my life a whole lot easier. If someone had broken down the process and showed me the steps - I would’ve been able to save a lot of time and effort while avoiding all the unnecessary stress. But, since I didn’t, I hope I can be that someone for all of you.
If you’re finding value in what I’m sharing here, make sure to subscribe because there’s a whole lot more to come. And until next week - keep changing lives!