Get a passive income by selling translations
What is Passive Income?
According to Wikipedia, passive income is a type of unearned income that is acquired automatically with minimal labor to earn or maintain. It is often combined with another source of income, such as a side hustle.
Commonly known examples of passive income including real estate investment, stocks or even owning a business franchise. In today's age of social media and monetization, lots of people are looking into passive income by using social media. While it is true that affiliate links and Facebook advertising can help create passive income, the half-life of technology companies is famously short. A prime example is to ask yourself how many people are using Myspace these days? Instead of focusing on the next big thing, seasoned businessmen understand the power of the "boring business" -- one that has existed forever, and will continue to exist because it satisfies a valid market need. A great example of this are translation services.
How is Selling Translations One of the Best Passive Income Strategies?
Let's be clear-- the concept of truly passive income is essentially impossible. In order to generate a passive revenue stream, at one moment or another, one needs to be active in generating it. However, if done right, the majority of that effort will be invested at the beginning, and with time, become less and less, until it is almost self-perpetuating.
Idiomatic USA is offering interested entrepreneurs the opportunity to learn to create their own passive income by partnering with us to sell translations. There is absolutely no need to know anything about translations, or even speak another language. A translation is a commodity, and if you know how to sell one commodity, you can sell a million others. If something catastrophic happened and Idiomatic had to switch industries, there is no reason to worry. The principles of business growth are universal, and really do work anywhere and everywhere.
Alternative Incomes with Idiomatic
What are we proposing exactly? Idiomatic is proposing a business partnership with people who want to be financially free. We put in our company's reputation -- built over 25 years in the industry, our ISO 9001:2015 certification, our contacts, and our know-how. We will teach you everything that we know about growing and maintaining a successful company. In return, we only as for one thing: your time.
We will never ask you for any money, and all business expenses will be split equally between the two parties. To explain more clearly, we don't want to create any barrier to entry for aspiring businesspeople. Starting a business is hard, starting a business is harder still, and starting a business by yourself and with no money is nearly impossible. We want to give you as many tools to succeed as possible, with as little stress as possible.
Once we partner together, we'll teach you about translations, and how to sell them. At first, you'll be pretty bad at it, and that's ok! All of us were awful at the beginning, because when starting a new venture, your biggest opponent is your own self confidence. You need to believe in what you are offering, and believe in the idea that what you are offering adds value to the world. Each person goes at their own pace to develop that confidence and believe in themselves, but it will happen.
The most pivotal moment in any entrepreneur's career is the first sale, when someone -- finally -- says yes! It may take one month or five, but the most important part is that you've overcome your initial self doubts. Those self doubts will surface many, many times, but keep in mind that a business doesn't grow overnight.
As great as all this may sound, you're likely asking yourself where the passive income bit comes in? So far, this seems quite hands on. As I mentioned above, all passive income requires an initial effort. Consider this a "get rich slowly" proposal, where the 5- , 10- , and 20-year trajectory can be astronomical.
What we offer is this: you and Idiomatic become business partners, and you will receive a commission on all translations sold. As this is a joint business venture and you are starting from scratch, there will be no base salary. But there is no maximum salary, either. The more translations that you sell, the more money you make. We will do the project management, the quality control and invoicing. All you need to do is make the initial contact with the client, from whom you will receive commission for the life of that client.
Now, this is where the passive income portion comes in. Numerous studies have shown that 60% of business comes via referrals. As your business matures, you will begin to notice that the bulk of your clientele will come via referrals from other happy customers, rather than you reaching our to potential clients. A referral-based business is as good a passive income business as any, as the growth can be exponential.
Once your business begins to grow and understand Idiomatic and the translation industry inside and out, you can teach other people to do the same thing. You will have gone from being a mentee to being a mentor, and can help others create their own passive income. And the best part is that you, in turn, will keep a part of the money that their businesses generate. Think of idea like the roots of a plant. At first there is only one root, but that root and all following ones continue to divide, providing more nutrients and water to the main plant.
Let's be clear that this is not a pyramid scheme as there is no money being exchanged in order to partner with Idiomatic. Once again, the only investment we ask for is your time.
Would you be interested in partnering with Idiomatic to make passive income? If so, get in touch with us here.