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Investment is a good way to create passive
income cash flow, but it’s not a get-rich-quick
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scheme.
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To be candid, there’s no genuine investment
venture will make you a millionaire overnight.
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Having multiple streams of income is the key
to becoming and remaining a millionaire.
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How can you run multiple businesses at the
same time?
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That is where the challenge comes in for most
people on the journey to becoming a millionaire.
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What if I told you that you can run businesses
without really being involved in the running
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process?
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Yes!
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These businesses are almost automated and
all you have to do is the setting up and then
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you will sit back to enjoy the cash flow.
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These businesses will make you earn money
even while you are sleeping.
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I’ll show you ten businesses that are self-running
that you can start today to increase your
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cash flow power.
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Laundromat
A laundromat has proven to be a very lucrative
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means for earning passive income over the
years.
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All you have to do is set up a space with
washing machines, drying machines, laundry
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bags, washing powder, and a payment machine
to accept money from your customers.
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Once you are done with the setup, you can
then step back and enjoy your money.
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The machine will do the job of washing and
drying the clothes of the customers.
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The customers will do the job of loading and
unloading their clothes in and from the machines.
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You can also employ a manager to open and
close the place and also ensure that the place
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is kept clean.
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However, setting up a self-service launderette
will cost you a fortune, but it will afford
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you the luxury of owning a business you do
not have to run yourself.
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E-Books
This is another type of business that runs
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itself.
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It is easier to become an author this day
than it was many years ago.
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You do not even have to do anything in the
writing process to get your name printed on
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the back of a book as the author.
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If you have any idea or topic you are passionate
about, you can write about it and publish
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it on self-publishing platforms like Amazon
kdp.
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After publishing, you only need to sit back
and enjoy passive income from the sales of
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the book for years.
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You can employ the service of a freelance
writer to accomplish this dream if writing
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is not your thing.
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Also, you need to include an amazing cover
design for your book, a captivating description,
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and keywords that will allow Amazon to recommend
your book in searches.
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Automatic Car Wash
More than half of the population of people
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living in every city own at least one car.
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Every average person will need to wash the
car at least once a week.
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This is an advantage for you as someone interested
in setting up a business.
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You can set up an in-bay automatic car wash
center in a high-traffic place that car owners
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visit often.
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This business does not need any workers for
it to function.
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Your customers will just pay the bills, drive
their cars into the bay and get them washed.
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The process is automated, so you do not need
to do anything.
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FedEx Route
I guess someone might be questioning what’s
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that all about.
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Or are you to create another FedEx company?
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(smiles) Not at all, in a few seconds, you
will understand better.
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Firstly, FedEx is a worldwide shipping company
that offers delivery services to customers.
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FedEx works with carriers to provide this
service to customers.
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Many companies like Amazon, Apple, etc. use
FedEx to get goods to their customers.
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You can get into FedEx by purchasing trucks
then you go into partnership with a FedEx
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delivery port in your territory.
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This will give you access to deliver goods
within that territory.
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Remember the goal is to make the business
run itself.
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You will need to employ drivers to handle
the deliveries.
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Most FedEx trucks are owned by individuals
who do not drive them.
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An average FedEx route owner earns more than
$2 million in gross revenue yearly.
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You can also get more than one truck and more
than one delivery territory to increase your
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revenue yearly.
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ATM Route
Automated Teller Machines are placed in financial
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institutions for people to perform various
transactions such as withdrawing money, transferring
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money, cheque deposits, cash deposits, and
a lot more.
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To earn passive income from this business
model, you can partner with a bank to implant
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the machine in strategic places.
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Whenever someone performs a transaction on
any of those machines, you will get paid a
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commission.
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This business does not need you to be at the
ATM route all the time.
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You only need to load enough cash into the
machine regularly.
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You can also get a person to do that for you
or employ some services that restock your
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ATM with cash for a price.
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This business is so simple to set up, manage
and control.
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Do not forget that you need to place the ATM
in high-traffic places to increase your chances
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of getting more people to use the machine.
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So, being in a strategic location is crucial.
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Blog
Blogging is another lucrative business in
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that you can keep enjoying the rewards while
you’re sleeping.
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However, a blog needs some work before it
starts yielding automatic results.
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A new blog needs to be furnished with a lot
of SEO-compliant articles that will increase
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the number of readers visiting your blog.
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You do not need to do any of these things
yourself.
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You can get a manager to set up the blog and
a content writer to write the articles.
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Your blog can make a high income from advertising
for companies like Google, Bing, etc. without
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you being involved in the process.
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You can also increase your income by adding
affiliate marketing.
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This involves marketing products on your blog
and earning a commission whenever anyone buys
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the products through your link.
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You can also opt for the option of purchasing
an existing blog if you do not want to build
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up one from scratch.
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This business runs itself.
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You can continue to earn passive income from
it for as long as the internet is still around.
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Property Rentals
This is another business that can run itself.
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It has proven to be an effective means of
earning passive income in recent years.
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The business involves the renting of items
to people who need them at a price.
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Properties like trucks, warehouses, cars,
working equipment, and virtually any property
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can be put on lease by the owner at an agreed
fee.
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This business gives you the chance to make
passive income from properties you already
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own.
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You can employ a manager to be in charge of
the renting process for the effectiveness
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of the business.
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The manager will also be in charge of getting
renters or tenants and people who need the
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property you have put on the lease.
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In short, the manager does the major part
of the work while you earn the money.
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Billboard Rental Business
This business involves setting up billboards
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for rent.
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You can set the billboards on highways or
congested traffic routes for people who want
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to advertise to rent.
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This business has proven to be profitable,
and it can run itself.
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You only need to set up the billboards and
then get advertisers to rent them for a certain
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period at an agreed price.
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Once the period elapses, you get other advertisers,
or you renew the contract with the current
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advertisers.
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This business will generate money for you
with you doing close to nothing.
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You only need to monitor the billboards and
get advertisers.
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If you place your billboard in a commercial
area, you will not have to worry about getting
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marketers ready to advertise their goods or
services.
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Self-Storage Facility
This is a kind of real estate business model
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where you lease out a storage house, and the
storage house is managed by the lessee.
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This is related to the property renting business
type.
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It involves renting out a storage space without
having to deal with the hassle of handling
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tenants and other typical landlord struggles.
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Thanks to technological advancement, owning
and running a self-storage facility is easier
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than ever before for both the owner (you)
and the customers.
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All negotiations and transactions can be done
online.
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The storage facility does not need any manager
to be there.
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All you have to do is to make sure that the
security in the place is intact and that the
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customers can access their units during the
period of the lease.
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Vending Machine Services
This is another business that generates high
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revenue without the presence of the owner.
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This business involves setting up vending
machines at strategic spots to meet the needs
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of the consumers.
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A vending machine is an automated machine
that provides items such as snacks, beverages,
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cigarettes, and lottery tickets to consumers
after cash, a credit card, or other forms
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of payment are inserted into the machine.
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There are various vending machines you can
get like the coffee machine, confectioneries
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machine, and soft drink vending machine.
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All these machines need to be placed in strategic
places for maximum profit.
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One thing about vending machine business is
that you need to restock the machine from
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time to time and also get your money from
the machine.
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For ease of running the business, you can
employ designated services that handle such.
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And as for your cash, don’t worry about
that.
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Thanks to technology, you can track down all
payments on your mobile app associated with
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the vending machine.
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The new vending machines have a means of reading
every payment.
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With the installation of a software tracker,
you can get the inventory of purchases on
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your machine.
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This will also help you know when you need
to restock.
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Running a business has never been easier than
it has become today.
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You do not have to worry about creating a
product, marketing, and other hassles involved
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in starting a business.
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These businesses that run themselves help
you fulfill your dream of becoming an entrepreneur
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without you having to actively run the business.
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There are many more things to learn about
earning passive income and successfully owning
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a business that runs itself.
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To get more insight about the right business
to venture into for passive income, click
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on the next video on your screen.
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Thanks for watching.
