So What Have I Learned From Bill Gates:
Build a product that can distributed or downloaded easily
Well the Windows operating system is pretty much all of that. No matter how serious the R&D is to develop their software, you can buy it easy online or in a store, and it's all sitting on very inexpensive CD's. Brilliant!
Microsoft Has No Bricks & Mortar:
He was one of the early big boys into this area. Build a product and only have other people sell it. No stores of your own to manage. With Microsoft being a global player, the savings there alone are massive. Again, brilliant!
Microsoft Earns Residual License Fees:
What could be better, most businesses run their computers on the Windows Operating System and then have to pay a license fee depending on how many computers they have. Then the residual magic, every customer upgrade comes with a fee, the license fee. Customers for life! Massive brilliance!
Updates & Quick Fixes Are All Online:
Again, the ease and efficiency of distribution here is pure genius, especially considering that Microsoft is a global player.
So What Have I Really Learned From Bill Gates?
Build a product that has global appeal. It can be distributed online with ease and virtually without cost. The product has a license or residual fee, almost guaranteeing a customer for life. A customer for life, boy I love that part!
So What Can I Really Do With This Information?
You can invent and test market a product that the entire planet will eventually love, or you can take the easy route, and be the middleman, and resell the product for a fee. I think I prefer that idea, it's easy, clean and simple and so much less work.
So Here's Where I'm Going With All This:
I really love the simple and easy approach, it works for me. Now, find a product you can resell and earn a monthly residual income from. Let's say it pays you a commission of $44.00 and keeps paying you $44.00 every month after the initial sale. That's the perfect residual income plan, sell it once and get paid over and over again.
Here's The Simple Magic When You Compound Residual Income:
Month One - Sell 100 products and earn $44 x 100 = $4,400.00
Month Two - Sell 100 products and earn $44 x 100 = $4,400.00
Month Two - Earn residual income from month one $44 x 100 = $4,400.00
Month Three - Sell 100 products and earn $44 x 100 = $4,400.00
Month Three - Earn residual income from month one $44 x 100 = $4,400.00
Month Three - Earn residual income from month two $44 x 100 = $4,400.00
You can easily see how compounding residual income through affiliate selling turns into a monster sales vehicle. Month One = $4,400.00 Month Two = $8,800.00 and Month Three = $13,200.00 ... by the end of year one, you've earned hundreds of thousands of dollars. You have no store, no inventory, no staff .. it just doesn't get much better than that.
If Bill Gates has taught me anything, it's not how Windows actually works, but how having an efficient sales system can make you a fortune. And when you are making that kind of money, do what Bill does, give some back!
In our lifetime Bill Gates will clearly be the most generous person in the world.
- Mike Perras is a retired media executive. He is a big fan of Robert Kiyosaki's "Rich Dad Poor Dad" book and the teachings of Multiple Streams of Income. He is also a member of the Mack Michael's Maverick Money Maker Club
The Maverick Money Maker's Club has an affiliate program that pays a monthly residual income. Residual income is one of the best kept secrets to growing a personal fortune. It allows affiliates to build an extremely healthy income and even stronger passive income at the same time.
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