5 Quicker Steps to Recurring Revenue 🤩

I believe there are 5 simple steps to creating recurring income, and I'm going to just dive straight in and tell you them. So step 1 is you've got to learn what assets and streams are recurring that you could gain recurring income from. Now, um, exchanging your time for money is not recurring income. Being a consultant is not recurring income. Having zero hours contract is not an income. That's recurring, and being employed is not recurring income. Now, there's nothing wrong with those. That's not— I'm not here to knock those. I'm just here to tell you that if your boss decides you're out of contract, or you want to be fired, or they're making redundancies, or there's a lockdown 4.0, or there's another breakout of COVID or you become ill or disillusioned, or any— or you fall out with someone, or your manager doesn't like you anymore, or your employer goes bust, or your contractor goes bust, you your income is gone, dried, empty, and you cannot run on empty. So what you need to do is start figuring out, okay, how do I create recurring income? Well, it's actually quite simple. There's only one way to create recurring income. You need to build assets. Assets generate income, whereas earned income is not an asset because you have to exchange the time to earn the income. So it's capital, not income. Now, some assets don't create income. Cryptos don't create income. They're only a capital growth play, and of course they're quite new. But assets that produce recurring income, there's actually quite a lot of them. Real estate is one of them. The creator economy and creating content on podcasts and YouTube channels and turning on all the monetization tools on social media so that you can earn from your content on an ongoing basis. I'll come back to those in a minute, by the way, but you have to work out what assets can produce recurring income for, uh, for and from you. So step 1, you've got to learn the income streams. You've got to know the difference between an asset and earned income is step 2. Then step 3 is I would probably recommend that you turn your passion into your profession. And people are always asking me, hey Rob, what business should I start and set up? Uh, you know, what's the great hottest technique right now to make a load of money? Well, actually, it's usually, what do you love to do? What are you passionate about? What would you do if it were not necessarily related to work? Because there's a kid at age 6 called Ryan who was making millions unboxing toys. And then there's these two early 20s guys called Jake and Logan Paul who were entertaining people for a living, having fun, doing pranks. And now making tens of millions a year. MrBeast, who does all these giveaways and competitions and these video challenges, now earns about $50 million a year. So you really can turn your passion into your profession. Okay, the next step is once you've got this passion, you've got to create content on it. You've got to create IP or a product or service around your passion. But remember, this passion is going to turn into an asset, not exchange time for money. So for example, if you do a paid keynote speech on your passion, and I get paid a healthy sum to do that, you record the speech as long as the promoter gives you permission, and then that recorded content can go on a membership site, for example. So then you can earn recurring income from the subscribers. So you want to double or triple dip. If you're going to create content anyway, turn it into an asset like on a subscription or membership site, like Netflix do, for example. So, you know, Netflix completely disrupted Blockbuster. Blockbuster, there'll be a piece of content created and you rented it once, whereas with Netflix you are paying every single month on recurring for that content. Now, a great way to leverage that time, like I said, the example of a keynote speech. Where you do a public speech and then you record the content and then you have it on your subscription platform. But you can leverage even more than this. You could even triple or quadruple dip. So what you could do is you could create a piece of content and multi-stream it across many channels. So you could go live with a piece of content on Clubhouse and live stream it on Facebook and live stream it on TikTok and create a podcast episode from it and multi-stream live. I like to do that. You you could use StreamYard or BeLive, a streaming syndication platform. I personally just bought some old phones because I'm finding that the reach is much better if you live on each phone as opposed to going through something like StreamYard. But when you multi-stream live, that one piece of content becomes 5 or 6 pieces of content simultaneously. Then what you can do after that is save one or two of those pieces. So record the podcast in the audio format, Save the live in the video format. And now what I can do, I can have a YouTube video, a Facebook group video, a Facebook page video. I could have, um, cuts for TikTok, cuts for Reels, cuts for stories on LinkedIn, Instagram, and Facebook. And all of a sudden I could have Reels. All of it. Remember, there's only one piece of content that you created. You multi-streamed it live, so 1 into 5, and then you put it across all channels, 1 into 5 into 40. And that's maximum leverage to create recurring income. Now, to get recurring income, you need two things. One, on social media at least, one is you need enough followers, you need enough viewers such that you reach enough people. Necessarily turn on the monetization tool straight away. I mean, you can try, but many channels will want you to get the minutes viewed up or the following up. So you start by just putting content out there and building your followership. And the more live you are on more channels, and the more content repurposing you do on more channels, the bigger you will grow your following. And then each one, you'll get to a benchmark. So you get 1,000 followers on TikTok, you can go live now. You get 10,000 followers on Facebook, and you can turn on the monetization tools. You get one monetization tool, and they give you the next one. And the next one. So Facebook gave me supporters, one of the, one of the first 60 in the world. And then after that, they gave me paid live events and stars, one of the first 20 in the world. And now I have 4 different income streams from Facebook alone, many hundreds of thousands a month from social media now. Because for many years, I didn't know how to do this. I was just churning out content. I wasn't making any money out of it because I didn't— I couldn't connect the dots, and now I can. Um, so once you've got multiple monetization tools and features available, then you've got to turn them on and turn them into multiple streams of recurring income. So one stream of earned income, your massive risk of COVID lockdown, boss fired, no job. One recurring stream, that income stream could still get disrupted. There could be a crash in the market. Three income streams, one can go down, two can go down, you've still got the third. Five income streams and you are pretty much unbreakable. So I've been building up these income streams for 16 years, and what I try and do now is make sure that everything I put time into becomes an asset. So I used to just work for money like everyone else, nothing wrong with that. I still do sometimes when I get paid you know, fair exchange, good big money for it. But every book I've written since 2008, which is 18 now, is an asset that produces a recurring income. Then I double that income when that paperback book becomes an audiobook on Audible. Now every podcast generates income because of sponsorships and advertisers. Even my Facebook Lives, I now earn on my Facebook Lives. I earn on my TikTok Lives. I earn on my Instagram Lives. I earn on my YouTube. Videos. I earned £20,000 UK, so $25,000 in 5 days on one video a couple of weeks ago on YouTube. So you've got to turn one income stream into multiple recurring income streams. You need recurring, not occurring. You need multiple, not singular. But you do need to have to work hard enough not to have to work hard. You have to set to forget. So if you would like to build multiple streams of income, recurring income from assets, from digital assets that don't take a huge amount of time to set up— let's be honest, it's easy to set up a Facebook account, a Clubhouse account, a TikTok account. It's easy to set up an account on all these socials. It's easy to set up on Patreon to then launch a subscription platform, for example. But of course, you need to be shown the steps, because there's a difference between simple and easy. And a lot of people, they just don't do it because they don't know how to do it, even though they'd like to do it. So if you'd like to set up multiple streams of recurring income in a simple way, following my simple steps, then here's what you need to do. I have a recurring income summit coming up in just a couple of weeks' time. It's a fully online event. Now, if you're watching on the live, I'm going to put the link in the comments afterwards. So if you're watching on my Facebook Live, just when the live has ended, or you're watching the recording, you'll see I'll put the link in the comments. If you are listening in on Clubhouse, this is what you need to do, but you need to do it now because I've got to hand over to Jen in a minute. I gotta get out of here, run a real company. Um, I have nearly 100 staff in there waiting. I've got a board meeting coming up in about 15 minutes. So if you DM me the word money on Instagram M-O-N-E-Y. If you DM me the word money on Instagram, then I will send you a link to the Recurring Income Summit, and I'm going to give you as a gift from me a post-Black Friday deal. Actually, Cyber Monday today. I haven't done any Cyber Monday deals, so, um, let's have that, um, a Cyber Monday special. You can get the Recurring Income Summit ticket as a gift from me. Now get this, DM me the word money on Instagram right now because I have got the founder of Netflix as an interview keynoting at the Recurring Income Summit. The founder of Netflix. Netflix have 193 million users, and if the average subscription is about $15, that is billions per month, billions per month in recurring income. So if you'd love to hear from the top person, from the top website in the world to create recurring income, then you definitely want to be on the Recurring Income Summit. And if, by the way, if you're watching on my lives, you'll need to jump in the comments on my Facebook Live. I'll put a link in my, in the comments on my Facebook Live in a moment. Also, we will teach you the different digital assets to produce recurring income, so social media platforms and pages, the new monetization tools that are coming, building your own subscription platform So my subscription platform, Rob.team, has many thousands of members, will teach you how to do exactly the same thing for yourself. So I don't want you to be working for the rest of your life to only have no life left when you can't retire because the retirement age has gone up to 142 and inflation has eroded all your money, or your boss has decided that you're surplus to requirements. The only way to build wealth is to build assets. It is not cash is king anymore. It is cash flow is king. Now, I believe in this current world we're in, digital assets are the quickest to set up and the lowest cost. You can set up an account on Patreon and have a subscription platform live, and we will show you how to do that at the Recurring Income Summit. You can build digital assets like NFTs, and you can invest in cryptos online, and you can monetise all of your social media channels, but you need to know how. And we'll teach you how at the Recurring Income Summit. So two things you need to do. Number one, if you're watching on my social media, there'll be a link in my Facebook Live. I'll put it at the bottom of the video once I've finished. And then if you're listening on Clubhouse, you just need to DM me the word money on Instagram. That's M-O-N-E-Y on Instagram. And I'll give you a gift from me, a ticket to the Recurring Income Summit where the founder of Netflix is going to be interviewed live as a keynote. So thanks for tuning in, everyone, and I will now hand over the mic to Jen.