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Residual Income

Posted On: 2006-01-12
Length: 20:16

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Once I dreamed of announcing 31 shows, and now I have achieved that dream. Welcome everybody, ladies and gentlemen, boys and girls of all ages, hopefully not too young, though. Well, we're welcomed once again by our lovely cast of characters. I got Lee the strong man.

Hallow.

Who switched positions on me. We've got Dr. Andy.

Hey there!

Same position as always.

It wasn't the same seat.

And Paul Sanneman.

I'm in Lee's seat.

I don't want to be part of this.

Lee's doing video tonight. That's right.

This is Lee's last show, and he's done with us.

We're changing, Lee is now doing video instead of me doing video. And I'm doing audio and taking still pictures, yeahhhh.

And I'm sitting by my microphone.

We're still reveling in our last few episodes at the old place. Yes they are.

I hope you got the last episode, what number that was. That was 30. The famous 30. If you haven't heard 30, listen to it, you'll love it.

We're over the hump now.

You'll live it.

Don't talk to me about humps.

Well the studio's going well where I work, it's almost ready.

We talked about the studio, we're furnishing the studio, we're going, this Sunday we put all the furniture in it.

What's the name of the studio?

Netcast Central.

And we're going to have a web site, right?

Netcastcentral.com.

Under construction.

It's under construction.

It's our domain name.

That's right.

We are so cool.

And we're going to build like this multi-

Go to dot.net and try to get that and you can't, because we own it.

We own it now.

Want to buy it from me for 50 million dollars, let me know.

The mission now, now what's the mission of the company? Come on, I told you.

Make a lot of money.

No, no, no. Well, that's ok. No, the mission is to, what is it? To be the leader, be the leader in worldwide podcast.

NETCAST.

The world leader in netcasting.

This podcasting is bullshit.

That's too much adam. Or apple, whatever.

Netcast. We should maybe do this company so we can get some residual income going.

Yeah, what the hell is that?

Ok. Residual income

That's when you don't have to work for money any more, it just keeps coming in the mailbox.

How does that work? Paul, do you know anything about that?

Ok. Residual income works this way. It's pretty simple. If it doesn't make money while you sleep, it's not a good deal. So you have to create a way to do it. For example, I helped build and am part of a mortgage company. So every time somebody gets a loan, I get like a hundred bucks a month.

Oh what a deal.

And so, I can make, you know, $15,000 a month, and not even show up. That's residual income. The cool thing is, there's no connection between the effort you put in and the money you make.

Such is my life.

That's right.

So, if I was to write some software, right?

Right.

And I was to sell the software as a shrink-wrap kind of thing. But I've got to have user support.

Yeah, the problem is you have to have user support, and then you have to get people to buy it, and it's a lot of, it could be real expensive.

It's called distribution, it sucks.

Distribution is hard.

Yeah, it's still going to cost money.

Distribution (?) you doing, netcasting is really expensive.

So what kinds of residual

Lee what are you doing over there?

Yeah, what are you doing over there?

Lee! Stop that! Would you put the video camera down. Come on, Lee.

What kind of a question is that?

Lee, what's residual. Give me some ideas of what residual is.

You did Amway, tell them about it.

Yeah, Amway is a great example. Because what do you do?

Now they're going to think it's about Amway. Oh no.

All 30 of those podcasts, we set you up to get you into our group in Amway.

Ok, you've just been had...

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