I recently received the following email from Tony Shepherd, author of “Quit Your Job In 90 Days.”
I thought the email was full of great information on how Tony created two streams of income. He is creative, resourceful, and no doubt full of energy as you will soon see. I’m just wondering when Tony sleeps!
Tony says, “The key is to keep your eyes open – think of everything as a
potential earner.”
I subscribe to this philosophy too, (see my posts, “I Just Got Paid $40 An Hour To Shop At Barnes & Noble,” and, “Buy Low Sell High: The Practice Of Arbitrage To Earn Extra Cash From Home“) so I asked Tony if he would mind if I shared his email with my readers, and he said that would be fine.
So here you go–here’s Tony’s email in full:
From Tony Shephered:
Hi,
OK down to business. I’d like to tell you about two of many new
income streams I set up recently.
I’m a really big fan of having multiple streams of income – big,
medium size or small doesn’t matter as long as they all dump money
into my account at the end of the day.
I was asked only yesterday if I could be bothered with a business
than brought me in just $100 a month when I pretty easily earn many
thousands per month. The obvious answer is ‘yes’ I’d be silly not
to.
I’m always on the look out for new businesses (that’s what income
streams are – small businesses) and especially those that don’t
involve Internet Marketing (a change is as good as a rest)
In May this year I was driving through a village in Lancashire, in
the UK when I saw an advert for a car boot sale. I stopped and had
a browse around, asked a few questions than went home.
(A car boot sale is a bit like a garage sale but in the middle of a
field and the sellers sell from the boot – trunk – of their car or
small tables)
I was interested so the following day I started work.
I found a local farmer with fields in a certain area. I made sure
the fields weren’t being used. I arranged to hire the field for one
day a week for six months and got a contract drawn up.
The main clause I wanted included was that if either of us pulled
out of the arrangement before the six months was up there would be
a hefty fee to pay to the other person. He had nothing to lose -
his field was doing nothing, so we agreed a price.
I had previously contacted the local council and made sure I had
permission for what I planned to do before signing with the farmer.
I then started putting ads in the local paper and notice boards. I
got a mention on local radio in the ‘events in the community’ slot.
My plan? I was advertising car boot/ antiques fair on a Saturday
mornings in the field I had hired in three weeks time.
I charged £10 ($20) per stall for car booters and $40 for
professional dealers.
Entry to the car boot was free for the general public but car
parking was £1 for customers although that entitled them to a free
raffle ticket.
On the day the weather was fine and I made $2,240.00 profit from
stallholders. It was mad, hard work and cost me a few bottles of
wine and a big bill from the local Indian restaurant where I took
my friends to say thanks for helping me out with my venture!
The rest of the figures now are in British pounds – just double the
amount to convert to Dollars for uS readers.
I also made a couple of hundred quid from the car park less fifty
quid’s worth of prizes for the raffles winners. A very nice profit
for a day’s work albeit a long hard one.
I soon realised that this was a profitable venture but I couldn’t
rely on help from friends forever and I don’t like hard work (I
like smart work).
I placed an Ad in our local paper that offered £200 for one day’s
work. (I got a number of people who thought I was recruiting for
Kleeneze!!!). Eventually I found a very nice semi-retired chap who
would run the whole car boot for me. I told him his wage was £100
plus another £100 if everything went smoothly. He would have to
recruit three students to help him out, who he had a budget of £100
to pay for the day’s work. If he chose to pay them £20 each, he
could keep the other £40 himself on TOP of his wage from me, but if
he paid them too little and they cocked up and made a mess of the
day he would forfeit his ‘bonus’ £100.
He was sensible and paid them £20 each plus another £10 if the day
went smoothly (he was a fast learner!), and kept the other £10 for
his own meal expenses throughout the day.
The second car boot went well and after all expenses, wages and
advertising I pocketed £635 by driving down to the field at 2pm and
drinking coffee while my ‘employees’ cleaned up. I’ve made over
£10,000 for doing absolutely nothing during summer this year.
Of course when winter approaches its time to wrap things up. I’ll
have to pay for the hire of the field until the contract runs out
or I’ll pay the forfeit but that won’t cost too much.
Next year when it’s ‘car boot’ season again I’ll contact the farmer
but if he’s business-wise (as most farmers seem to be) he’ll run
the whole operation himself – hence the tie-in clause so he
couldn’t end our deal and take my idea during the summer.
I can earn $2000 in day as an Internet Marketer so was it worth it?
Absolutely – I love any sort of business deal, and it’s great to
keep ’sharp’ in the real world away from the PC.
The key is to keep your eyes open – think of everything as a
potential earner.
My second new venture came about later in the year. I was out and
about not long ago and found myself having a pub lunch with some
friends. Afterwards we had a wander around the local market and I
bought a new padlock for my shed door.
After chatting for a while with the stall holder I noticed he was
selling winches – very good quality winches for boats, caravans or
heavy lifting at an incredibly competitive price. Damn cheap
actually! I asked where he got them from (nothing like being
direct) and since he took me for the average shopper he told me he
bought directly from the manufacturers agent **** (here he gave me
the name of a town in Derbyshire which I won’t pass on to you – I’m
not stupid!).
I went to the library and got a copy of the yellow Pages for that
particular area. Then I got home and started to research in the
Internet. Then the next day I started making phone calls.
It took me a couple of days but I found the supplier and sorted out
minimum orders, delivery costs etc and then sat down with a glass
of wine and started to think.
Ebay regulations seem to state that it’s fine to have more than one
Ebay ID as long as they don’t interact with each other in ways that
go again the rules. So I now have (yet another) income stream
selling winches on Ebay. Now the chances are it won’t last forever
- nothing does -perhaps many more people will discover my secret
supplier, or the bottom will fall out of the winch market – who
knows?
There are two lessons to be learned here. Firstly earn what you can
when you can (most people simply would not have acted on the
information – even if I gave you the name and address of the
supplier, 90% of you reading this would think of an excuse not to
go into the winch business ‘Sara’s already doing it – I can’t
compete’ or ‘ I know nothing about winches’.
The fact however little you know about winches it’s twice as much
as me – all I know is that they sell if the price is good enough.
Also you must take the time and trouble to set up that income
stream – on or off the internet – and don’t worry about how much
money it brings in. If it’s a profit – no matter how small, then
it’s worth it.
The second thing goes back to the car boot business. Did you notice
the first thing I did when I started to earn from it? PUT IN
SOMEONE TO RUN IT FOR ME!
The one thing you can’t get enough of isn’t money – it’s time.
Bill Gates can’t EVER get back that Saturday he spent working in
the car wash for 75 cents an hour (I don’t know if he ever did -
it’s just an example) BUT by paying a manager to run it for you,
you can earn from one income stream while you work on the next -
and that is the secret to becoming rich.
It’s important when you get someone to run one of your businesses
to give him or her an incentive to run it well. The chap who runs
my car boots earns good money from me, but more importantly, he has
the potential to earn more if he runs it well. He doesn’t feel as
though he’s working for an employer (although he is – me), he feels
as though he has a degree of autonomy and can increase his own
income by using his intelligence. This makes all the difference
from being told what, and when to do something.
I will eventually get someone in to run the winch business. They’ll
run it from their own Ebay ID – leaving mine free for my next
venture, and I’ll make sure that the more I earn, the more he
makes. So again I’ll be earning by doing nothing. Actually that’s
not correct – I had the idea, did the research and ‘built up’ the
business. But I will be earning while I do something else.
So I find myself with over £1000 a week coming in from just these
two incomes streams that are running themselves BEFORE I even pour
my first cup of coffee in the morning. That’s not including my
other businesses, websites, JV’s, Auctions and information
products.
The secret is that every single one of these streams
started out small and grew. Nothing was ‘too much trouble’
It’s famously said that some supermodels don’t get out of bed for
less than £10,000. I’d happily start a new stream or business for
£5 a week, because it’ll probably end up making me well over
£10,000, and all while I cut the grass or cruise the Med on my boat.
Until next time – keep at it!
Tony
“Learn How To Quit Your Job In 90 Days.”
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{ 1 comment… read it below or add one }
Wow, some great money making ideas which are slightly unusual here but requiring little or no input once set up – I like it!
An interesting piece to put into action, thanks
Tom