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The Power of Creating Multiple Streams of Income Around 1 Topic
Episode 13522nd November 2022 • Passive Income Examiner • Lindsay Sutherland
00:00:00 00:05:30

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What do Cabelas, Best Buy, and Petsmart all have in common? Besides the fact that they may all be on your Holiday Shopping List, these three major retailers follow the same principle of selling multiple problem-solving products to a buyer of a single interest.

Let's face it, when we go to Petsmart to pick up a bag of dog food for Daisy (that's my dogs real name) we often leave with a bag full of items we didn't intend to buy.

When we apply these principles to our own passive income business we start to realize higher profit margins when we get repeat customers. People are 60% more likely to buy from you again after purchasing from you once - vs. the typical 1%-3% conversions most online marketers get from cold prospects.

Discover how you can build a passive income system that models these retailers by registering for the FREE workshop coming up next Tuesday. www.lindsaysutherland.com/passive-income-machine

The benefit of this strategy is it requires LESS work for you because you can focus all of your marketing on one client avatar and recoup a larger percentage of profits AND build a brand that people come back to time and again.

Build your passive income system today!

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Discover the Freedom Business Community with curated information to help you plan your journey and execute it, step by step.

With three levels of access to choose from this community is designed to help everyone, from beginner online marketer to advanced, build and scale legacy businesses.

We start by learning the ropes to building a business and then move into wealth-building strategies that teach you what to do with your passive income once it is rolling in.

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Want more episodes like this?

No Code Required App Building Software & Ideas To Turn Your App Into A Passive Revenue Source : https://player.captivate.fm/episode/1ab51eae-54df-4073-9c3e-6e4542a9fab3

The Importance of KeyWord Research & How To Do It Without Being A Tech Wiz - https://player.captivate.fm/episode/fc66ee87-4dbd-43a7-ad01-67361f656042

Can I Earn Passive Income Part Time? https://player.captivate.fm/episode/6fe19fdd-941f-4ffc-921b-3ef15f101a59

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Transcripts

, pie Tribe. Buckle up for a new episode of the Passive Income Examiner, the number one podcast for budding entrepreneurs and business owners looking to diversify their income with passive strategies. Welcome to season two, focus on building successful online businesses with Evergreen Marketing Solutions.

I'm your host, Lindsay Sutherland. Thanks for joining.

What does Best Buy PetSmart and Cabellas all have in common, besides the fact that they're retail stores that might all be on your Christmas shopping list. The other thing they have in common is that they sell multiple different products around a specific topic. So obvious pet smart, right? It sells to pet owners, but it.

Food. It sells leashes, it sells toys. All of these different avenues of products that solve problems for pet owners. And what happens when you go into one of these stores? Let's say you're going to PetSmart to get dog food, . How many of you walk out with just dog food? I'm gonna guess 20%. 80% of you at least get one more thing, one more thing, and 20% of the 80% get a lot of more things.

We're all guilty of this. I myself am one of them. In fact, it's one of the reasons why I love Target. knows how to suck the money out of me. Oh my goodness. I tell my husband all the time, thank goodness for Amazon, it keeps me from buying things that we don't really need. Get on there. You shop for one thing, you put it in your cart, you'd get out

Now, back to what we're talking about. The reason this is so important is. This is the psychology you wanna have around your passive income business. And too often people are out there building multiple streams of income in various ways. So for example, I know a real estate syndicator who also tried to do a Walmart store and a four x exchange all while while building her brand.

And she admits later to me that that was a. Because her attention was in too many directions. Now, one might think that maybe it wasn't a mistake to go after all those things, and it was the better solution is to get one rolling and then move on to the next. But I would say that. I challenge that theory with this possibility.

What if instead of building six streams of income with different methodologies, we focus on building six streams of income around a single topic. That way we can sell more products to the same customers, just like companies like Petmart, Cabellas, and Best. You see, when we focus on building a system of passive income that can leverage one messaging system.

So what I mean by that is the power of marketing to one type of person and can cross sell to that same type of person multiple ways. We increase the revenue generated by at least. 60%. The reason I say 60% is because it is statistically proven that if someone buys from you once, they're 60% more likely to buy from you again, versus getting new clients, which on average convert in the online space anywhere between one to 3% from cold to buy.

So think about that for just a moment. If you could build a brand around a specific topic, And offer multiple problem solving solutions. I e products. You stand a better chance of A, working less and earning more. And B, building a loyal following who's likely to come back to you time and again. Now, if you wanna learn how to do this, join me on Tuesday, a week from today for a free workshop on exactly how to set up this blueprint for.

And mimic these companies that are doing it successfully right in front of your very eyes. The link to register is in the show notes and also can be found@ https://www.lindsaysutherland.com-passive-income-machine. There is a three part system to be truly successful with this model, and that's what we're gonna talk about on Tuesday, so that you can build a framework for a passive income business that will work in your life and help reduce the amount of time and energy you are spending.

All right, my friends. That's it for this episode today. Thanks for tuning in. Be sure to register to the workshop coming up next Tuesday and invite a friend. Bring a friend, and let's get to know each other.