Diversified Income Experiment | Passive Income
138 episodes - English - Latest episode: about 2 years ago - ★★★★★ - 112 ratingsA meat and potatoes podcast dedicated to cutting out the BS in passive income and actually helping you achieve financial success. Learn how to set up the right income streams, grow business, promote capital, and actually apply useful knowledge.
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Episodes
What is Diversified Income? | Ideas for Passive and Active Income Streams
June 11, 2020 10:00 - 6 minutes - 15.6 MBIn today’s episode, we explain exactly what we mean by diversified income, within the context of active vs. passive income. We give examples of passive income (such as investing in the stock market or real estate, or E-commerce) and active income (such as providing and selling a service). For ideas on passive and active income streams, we recommend listening to previous episodes of this podcast, as well as “Side Hustle Nation” with Nick Loper, and “A Millennial’s Guide to Real Estate Investin...
How To Accomplish Goals During The COVID-19 Pandemic | Make The Most of Your Time
June 04, 2020 09:50 - 18 minutes - 42.6 MBToday, we talk about the best ways to use your time during this coronavirus pandemic. We give the example of how Keith bought a business and got it up and running in less than 3 months -- the time it takes to plant and harvest tomatoes. We also give other examples of how you can use your time to make significant improvements in your life, especially in your business. We invite you to share your accomplishments (reach out to Keith at https://dincpie.com/) and we’ll share it on the show. Bu...
How To Make Money With Franchises | Buying, Operating, and Marketing Smash My Trash
May 28, 2020 10:00 - 15 minutes - 36 MBIn today’s episode, we fill you in on the details of Keith’s purchased franchise, Smash My Trash. We cover what the business does, what it costs to buy, what the operating model is, and where Keith is at in the process of getting it up and running. We also give tips on how to market this service to businesses. We finish by sharing the total earnings that Keith is projected to make from all his diversified income streams combined, and encourage you to look for and begin similar projects for yo...
How To Make Money With Laundromats | Laundromat #3 Open For Business
May 21, 2020 10:00 - 25 minutes - 58.4 MBToday, we talk about Keith’s third laundromat which just opened. We walk through the timeline, the financials, including the cost to build the facility, the operating math, equipment, and growth in the wash, dry, fold business. We share what we would have done differently with machine selection and distribution, give you the profit margins and how much is going to debt service, utilities, payroll, and other professional fees. We talk about growth in the wash, dry, fold business -- especially ...
Prepare For The Future | How To Generate Recession-Proof, Pandemic-Proof Income
May 14, 2020 09:50 - 34 minutes - 78.5 MBIn today’s episode, Keith shares his advice and ideas for preparing for the future to continue to generate income. He uses an online business up for sale that he found recently as a model to example how to buy, build, and advertise a business. We also give you advice for starting your own business, and recommend businesses like Laundromats and Shared Space. We also share how to launch a product to sell online, and invite you to listen to a previous episode, “Let’s Launch a Product” for more d...
Should I Buy A Business? | What You Need To Know With Chuck Mullins
May 07, 2020 10:00 - 40 minutes - 92.8 MBToday we talk with Chuck Mullins from Quiet Light Brokerage (https://www.quietlightbrokerage.com/). He tells us about his background in business and website development. He then talks about how he started his career with Quiet Light. We then discuss the advantages of buying businesses, and strongly recommend it for those with more time on their hands or who have lost their jobs due to the COVID-19 crisis. We talk about the variety of businesses that Chuck has seen with his work at Quiet Light...
Should I Sell or Keep My Business? | The Dilemma of Diversified Income With Henry Lopez
April 30, 2020 10:00 - 40 minutes - 93.4 MBIn today’s episode, we talk with Henry Lopez, who runs the podcast, “The How of Business.” Henry is also a managing partner and co-founder of the Levante Business Group. He talks about his experience owning businesses and managing diversified income streams, and shares how he now focuses his time and energy on his coaching and podcast. We discuss the factors surrounding the decision to sell your business. Henry then talks about his franchise of releasing office space in suburban settings, inc...
Top Money Makers | How to Scale a Short Term Rental or Car Wash
April 23, 2020 10:00 - 32 minutes - 74.7 MBToday we talk about short term rentals and car washes. We cover the advantages of short term rentals, giving the example of a cabin that Keith bought. We discuss the ideal price for a property, as well as other expenses in getting the property ready, and how to determine a profitable rental price. We invite you to see the P&L for Keith’s cabin project on https://dincpie.com/. We compare the cabin to a condo Keith bought in Mexico. We also discuss a new project with a lot of promise that invol...
How To Launch a Laundromat | Overview of P&L Statement For Year 1
April 16, 2020 10:10 - 31 minutes - 71 MBIn today’s episode we review the P&L statement for 2019 for Keith’s Laundromat business and talk about the business plan and results. We talk about our ramp plan for launching the business over the first year. We invite you to look at our ramp plan model and watch a video overview at https://dincpie.com/. We break down how we calculate and measure our revenue. We walk through our sales figures by line item, and compare it to our targets. We talk about what we did to meet or exceed our target...
Game-Winning Plays With Chris Gronkowski | How To Launch and Market a Topseller
April 09, 2020 10:35 - 51 minutes - 118 MBToday we talk with Chris Gronkowski, former NFL fullback and owner and inventor of the Ice Shaker ™ . He shares his story, life lessons, and how he started his football and business careers. He talks about his business ideas and successes, including developing and marketing his Ice Shaker ™ cup. He also talks about the unique features of his product and how he was able to build his sales before and after his experience going on Shark Tank. We talk about how he benefited from partnering with ...
All About Amazon | How To Source and Sell A Profitable Product
April 02, 2020 10:00 - 21 minutes - 50.1 MBToday we break down Keith’s unsuccessful Amazon private label business, and explain what he should have done to generate a greater profit. We break down the costs of sourcing and selling a product through Amazon, including fulfillment by Amazon fees (FBA) and Pay-Per-Click (PPC). We explain how to get your product to rank against keywords, including doing giveaways through 3rd party services. We also talk about Keith’s product and what he has to do to get it to his 5X requirement. We talk abo...
3 Disasters Avoided | COVID-19’s Market Crash and When To Back Out of Deals
March 26, 2020 10:15 - 17 minutes - 39.1 MBIn today’s episode, we look at 3 prospective diversified income streams that Keith had to let go due to the market crash and COVID-19 shutdown. We begin by talking about the current state of the market. We share that Keith’s online product-based business and other businesses are still generating income. However, because of problems negotiating leases and other obstacles, he has had to back out of 3 prospective projects in light of current circumstances. -Current State of Stocks 0:58 -Lettin...
Filling Needs and Finding Fulfillment | How To Create and Promote Your Own Side Hustle
March 19, 2020 14:25 - 47 minutes - 108 MBToday we talk with Nick Loper, creator of Side Hustle Nation (https://www.sidehustlenation.com/), which is a website with resources to help you create new income streams, build your business, and escape the corporate world. We talk about how Nick decided to start his largely successful podcast, and his process of gaining a following. We discuss busybudgeter.com’s (featured on Nick’s podcast) advertising and affiliate model for audience and product-based business. We also give examples and dis...
Converting the Side Hustle Into a Full-time Gig | How LL Made Six Figures on Etsy
March 12, 2020 10:00 - 32 minutes - 74.5 MBIn today’s episode we talk with LL, owner of Living Limitless Clothing Co. (https://www.etsy.com/shop/LivingLimitless) and host of the Etsy Entrepreneur Podcast (https://www.etsyentrepreneur.com/). We discuss some of the principles that led to his success selling on Etsy, as well as some of the advantages of Etsy. We talk about some of the particulars of managing a clothing line, including keeping expenses low with made-to-order inventory and better packaging and shipping methods. We recommen...
Franchising | Aaron Bakken
March 05, 2020 11:00 - 26 minutes - 61.7 MBToday we are joined by Aaron Bakken, a franchise consultant with the Franchise Consulting Company and expert at diversified income. He explains his history with entrepreneurship and diversified income, as well as how fulfilling that lifestyle can be. We discuss everything involved in choosing and buying a franchise, and how to evaluate different opportunities based on what’s best for you. We then talk about the timeline of going into franchising. We also discuss the advantages of franchise ow...
Update on the E-commerce Business I Bought
February 27, 2020 11:00 - 25 minutes - 58.9 MBToday we share some updates on how our E-commerce business is performing. We share how we’ve been able to triple the business in 5 months. We talk about financing for buying a business, as well as discuss why the returns on your investment from owning a business makes it a desirable venture for anyone looking to diversify their income sources. We talk about the costs associated with getting our business started and discuss subjects such as patents, search engine optimization, advertising, and...
New Laundromat | How Much Did I Make in Month 1?
February 20, 2020 11:00 - 29 minutes - 67.4 MBToday, we give you all the details about the opening and first month of the new laundromat we opened on December 2nd. We give you a run-down of the size of our space and what we could have done better with the mix of our machines. We talk about how we measure headcount through the total daily turns of the machines. We describe our promotions for month 1 and how we advertised. We then define a ‘turn’ as how many times per day each of your machines run a cycle of laundry, and explain why this i...
I Bought An E-commerce Business and Here are The Results
February 13, 2020 11:00 - 23 minutes - 53 MBToday we talk about an E-commerce business that we bought, with the intention of giving you a real life look at the details and the process. We tell you what the net earnings were when we bought it, and what multiple of net earnings we bought it for. We compare the current worth of the business to what it was when we bought it, showing that so far we have created $800k in equity by increasing the value of the company, in addition to the earnings from the business. We talk about what we did to...
Where Do Dead Deals Go? | The Final Chapter
February 06, 2020 11:00 - 7 minutes - 17.9 MBIn this episode, we summarize the potential transaction that has been discussed over a series of four episodes entitled, “Where do Dead Deals Go?” We talk about its going back and forth between “no” and “yes” throughout the negotiation process and for what reasons. We then tell you at what point the deal finally died. Finally, we mention that the death of this deal has made way for other opportunities including our entering into a new franchise agreement, which we may discuss in future episod...
Turnkey Real Estate | Antoine Martel
January 30, 2020 11:00 - 41 minutes - 95 MBOn today’s episode, we interview Antoine Martel, real estate entrepreneur and owner of Martel TurnKey. Antoine explains how he got started in real estate, including how he was able to purchase, renovate, and sell 10 houses in his first year. His business now does 10 houses a month, buying the properties, renovating them, renting them out, putting a property management company in place, and then reselling them to their clients, who buy those properties for cash-flow with just $20,000 out of po...
Laundromat #2 Is Open! | What to Expect From Your Soft Opening
January 23, 2020 11:00 - 31 minutes - 72.9 MBIn today’s episode, we discuss the long process of finally getting our second laundromat open. We talk about balancing this opening with other current projects, such as filing a patent, finalizing our website, figuring out financing for a new franchise, Facebook advertising, and getting our product of wood-shelf kits back on Amazon. We cover the importance of having a soft opening for at least 3 weeks, and different strategies (like discounts, quality guest service, presentation, and advertis...
Dealing With Challenges | When it’s Not All Sunglasses and Autographs
January 16, 2020 11:00 - 24 minutes - 54.9 MBIn today’s episode, we talk about what challenges may arise in your journey to build income. We follow through with the business discussed in the episode, “Delays, Delays, Delays.” We discuss the difficulties of financing new franchises through lenders with government-based parameters. We also talk about waiting on contractors and utilities companies with the laundromat, and how the city lost the plans for the carwash. We consider how, even with all these setbacks, contributing value through...
Delays, Delays, Delays
January 09, 2020 11:00 - 17 minutes - 40.1 MBIn today’s episode, we talk about the importance of knowing your timing if you’re going to build a business as opposed to buying a business. As part of this discussion, we review some of the processes and delays that have been a part of our own projects. These include lease reviews and approval, letters of intent, and slow contractors. We advise that you build smart contracts and make sure someone else is on the hook when projects run long. We also discuss the importance of anticipating probl...
Tools of the Trade
January 02, 2020 11:00 - 21 minutes - 48.4 MBIn today’s episode, we discuss online tools that are useful for research and scheduling for E Commerce business. We break down the model for selling on Amazon, and how much one actually makes from the products they sell there. We discuss software subscriptions to services such as Helium 10, Viral Launch, and Keepa which tell you how much each product sells on Amazon, and talk about some of the differences of each. We also discuss an extension called How Many, which tells you how much inventor...
How Much Does A Carwash Make?
December 26, 2019 11:00 - 26 minutes - 60.3 MBIn today’s episode, we talk about what a car wash can make, what it costs, to build, as well as some examples of successes and failures with finding a good location. We walk through a good business model for the type of car wash discussed here, including where you can find a good brand and guidance for your investment. We define the ideal parameters behind a good location, as well as how to deal with competition. -Intro: What Type of Car Wash Are We Talking About? 0:57 -How Much This Car...
Timeline to Go | Live and Final Update on "Where do Dead Deals Go?"
December 19, 2019 11:00 - 22 minutes - 50.6 MBIn this episode, we follow up with the Deal from “Where do Dead Deals Go?”, and also talk about the timeline to going live with a business as discussed in the Build vs. Buy Episode. Using our two laundromats as examples, we take you through the timeline and expenses for opening a deal step-by-step, including architecture and engineering, following a ramping plan for the first year, and finally getting it to its income-generating stage. We talk about the causes of some delays in the process an...
Timeline to Go Live and Wrap Up Where do Dead Deals Go?
December 19, 2019 11:00 - 22 minutes - 50.6 MBIn this episode, we follow up with the Deal from “Where do Dead Deals Go?”, and also talk about the timeline to going live with a business as discussed in the Build vs. Buy Episode. Using our two laundromats as examples, we take you through the timeline and expenses for opening a deal step-by-step, including architecture and engineering, following a ramping plan for the first year, and finally getting it to its income-generating stage. We talk about the causes of some delays in the process an...
Let's Launch a Product... During This Podcast! | A Step-by-step Guide for Sourcing and Selling Products
December 12, 2019 11:00 - 23 minutes - 53.5 MBIn this episode, we take you through the process of finding, sourcing, and selling a product. While explaining the process, I take the steps myself live on the podcast. Listening to this episode will set you up with all the tools you need to try this attractive source of passive income for yourself. Intro 0:22 Sourcing Online in China: 3 Easy Ways 1:14 Finding, Sourcing, and Selling Products 8:39 Finding Products on Amazon and Alibaba.com 9:13 Selling--Build a Website, Use Facebook to Traf...
Update on "Where Do Dead Deals Go?" | When 'No' May Not Be Final
December 05, 2019 11:00 - 7 minutes - 16.1 MBEpisode 13 - Update on Deal from Ep.12, “Where Do Dead Deals Go?” This episode is a quick update on the deal on an e-commerce business that was discussed in the previous episode, “Where Do Dead Deals Go?”. Keith talks about the processes he has been involved with during the week that has passed since he was able to turn the deal around. Introduction (summary of transaction) 0:25 What Happened Since 0:52 Financing’s Reasons for Passing/Keith’s Solutions 2:25 Possibilities Moving Forward 4...
Where Do Dead Deals Go? | Negotiating a Win-Win
November 28, 2019 11:00 - 13 minutes - 30.2 MBIn this episode of The Diversified Income Experiment, we cover what can happen when a deal goes down. A recent transaction illustrates how, if you make informed decisions and handle the situation well, the same people who retract a deal may come back to work something out. This episode illustrates and explains good techniques in choosing promising ventures, how to react when things don’t go as planned, and how to read a situation to negotiate for the best possible outcomes. -Introduction 0:...
Passive, Active, or Diversified Income | What Is Worth Your Time?
November 21, 2019 11:00 - 21 minutes - 49.6 MBIn this episode of The Diversified Income Experiment, we talk about the difference between passive, active, and diversified incomes. Some of the topics we cover are the stock market, a case study on my laundromat, and other business ventures. Introduction 0:25 Passive Income 2:14 Passive or Active Depends on how you React 7:09 What is Worth your Time? 15:01
Who's Qualified | What you tell Yourself
November 14, 2019 11:00 - 15 minutes - 36.5 MBIn this episode of Diversified Income, we talk about who it is that is qualified to create a diversified income. When buying or starting a business, it’s easy to think, “am I qualified to do this?” Maybe you don’t have official education in business or maybe you don’t have huge lenders. Todays episode is meant to encourage you and state that you are qualified for success. - Categories of Life 2:25 - Example of Retirement 3:47 - Example of Early in Career 5:45 - Scenarios of when to diversi...
Resources for Buying Businesses | Financial Options
November 07, 2019 11:00 - 18 minutes - 43 MBIn this episode of the Diversified Income Experiment, we talk about the resources and tools that I used in the acquisitions that I made. I made a list of companies including firms, brokerages and other financial resources that I used, so I'll discuss how I used them, how effective they were, and what kind of impact each of these has had on the acquisitions process. - Brokerages 1:18 - Listings to Subscribe to 4:13 - Due Diligence 10:23 - SBA Financing 12:15 - Mezzanine Financing 16:20 “On...
Building and Buying Businesses
October 31, 2019 10:00 - 21 minutes - 49.5 MBOn this episode of diversified Income, we discuss whether it is best to build or to buy a business. Some questions we consider together are whether it is the right business, how to not let comparison get in the way, letters of intent, and the timeline you need to build or buy your business. - Keith’s Story 1:23 - Case study example 7:57 - Timeline required to build a business 9:43 - What to do after you buy a business 20:54 “You might be thinking to yourself, “‘ Holy smokes, how do I buy a...
Laundromat 102 | Financial Details on the Next Two Laundromat Projects
October 24, 2019 10:00 - 19 minutes - 45.1 MBIn this episode, Keith discusses the next two laundromat projects that he has undertaken, including the financial details of each project. Both of the next two laundromats that he has started are quite a bit larger than the previous project, which costs more initially but allows for a larger profit later on. Keith also goes into what it takes to build a laundromat, including the budget, the costs that are involved, and the actual process of building the project as well. Listen in to learn abo...
Laundromats 101 | How Much Does a Laundromat Make?
October 15, 2019 17:03 - 22 minutes - 51.4 MBHow does someone start diversifying their income streams? Keith discusses one of the businesses he has had experience with that has brought in a lot of revenue. After leaving corporate America, Keith started a laundromat business and he is sharing what he has learned, including how to look at location, demographics, accessibility, and a handful of other factors that will help you decide how to situate the business. Listen in to learn more about how to diversify your income streams.
Capital Cost Model and Profit and Loss Statements | Covering the Basics
October 15, 2019 16:49 - 23 minutes - 54.2 MBIn this episode, Keith covers some basic concepts before he dives deep in upcoming episodes. The concepts he covers in this episode are the capital cost model and profit loss statement. He breaks down how you would evaluate revenue, liabilities, monthly expenses, variable costs, and much more. Listen in to this episode to learn some of the basics of diversified income streams.
Intro to the Diverse Income Group Podcast
September 30, 2019 23:27 - 3 minutes - 9.04 MBEverything you need to know about the podcast.