Debit cards are great. The problem with your debit card is that once you spend the money, it never comes back. Not mine.
The funds in my debit card account automatically come back every 30 days.
Imagine that. Well it’s true. I don’t have a special deal with Bank of America or the US Government, but I do earn money a different way than most people. I focus on building my passive income while most people are focusing on increasing their hourly wage. It’s a new mindset.
How It Works
To make this work you need to have something people want AND they are willing to pay you for on a monthly basis.
Your probably thinking “I work at Sears (or insert your company name here) and make X amount per hour, what will someone pay me every month for?” Well, right now, nothing.
This is why you need to team up with a company and sell their products. There are companies that encourage you to sell their product/service to receive a monthly commission for it. This is how you build your passive income.
Partner Program (aka Affiliate Program) Tips
There are lots of companies that offer these types of programs (just Google “Affiliate Program”). To ensure your success here are 3 tips on comparing programs:
- Make sure the company will pay you every month for every sale you make. Stay away from any program that only pays you ONCE for every sale. This is NOT passive income. You should be able to sell something once and get paid for it over and over again.
- What is YOUR percentage? This is very important. You obviously want to get the highest percentage of each sale you make (more money for you). Some programs offer 3 – 5%, some offer 20 – 30%, the best offer 45% and higher.
- There should be NO fees to join. Think about it. You are going to sell a companies product for them, why would YOU need to pay THEM to do it? This doesn’t make sense to me. Find a program that you can join for free.
- How do you get paid? This is probably the most important factor to consider. Do not pick a program that makes you jump thru hoops to get paid. The best programs automatically get you your money every month.
- OPTIONAL TIP – Depending on the type of product you might want to be able to sell it as your own. This is commonly called “white labeled” or “private labeled”. Selling these types of products will allow you to build a business of your own – keeping the manufacturing company hidden, while you take all the credit for the product.
How Do the Funds From The Products I Sell Get To My Debit Card?
This depends on the program you join. I recommend choosing a program that automatically deposits money into your PayPal account. The reason is that if you get the free PayPal debit card, you can have an automatically recharging debit card like me. There is no work involved in getting paid, no waiting for a check in the mail, no nothing. It just gives you more money to spend every month.
It is very, very cool to have a debit card that does this. Imagine it being the 30th of the month, you decide to go nuts, you go the mall (or casino) and blow all your money. You wake up the next day and the money is back! Now that is awesome!
The quicker you join a program and get out there and sell something, the quicker you will have lots of passive income. Good luck. Don’t give up – it is worth it!
Ian Anderson is co-founder of Intersection360. Ian specializes in hosted application architecture and GUI design. Intersection360 offers a wide range of non-branded web applications for the small business/non-profit markets. Some of Intersection360 products include: CharityHelper360 - secure forms processing for non-profits, WebEdit360 - an online website editor and more.
Learn more about how you can sell Intersection360 products as your own with the Intersection360 Partner Program at http://www.intersection360.com/partners/index.htm