1
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Okay, so passive income online.

2
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Yeah.

3
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Everyone wants that, right?

4
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Like, who doesn't love the idea of money, just?

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Money while you sleep.

6
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Yeah, exactly.

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Absolutely.

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So you're scrolling YouTube, and you found this video.

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I built a business in 24 hours for $0 to make money online.

10
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Oh yeah, I've seen that one.

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It's by Jason Wardrop.

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Catchy title.

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Right, like a business from scratch.

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In a day.

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In a day, without spending any money.

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Yeah, no money down.

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Sounds crazy.

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It does.

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So we're gonna break it down.

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Right.

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See if it's for real, you know?

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Yeah, let's see if it lives up to the hype.

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His whole strategy is about this thing called white label sauce.

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White label sauce, yeah, it's a bit of a mouthful.

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I know, it sounds complicated.

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Definitely.

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But maybe it's not.

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Gonna find out.

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So he uses this analogy with Netflix.

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You okay?

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To explain the sauce part.

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You pay your monthly fee.

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Right.

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For all the movies, all the shows.

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That's all you can watch, Rick.

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Yeah, so that's basically sauce.

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Software as a service.

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A company providing access to their software.

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For a recurring fee.

40
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Exactly.

41
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Okay, so that's say yes.

42
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But what about this white label thing?

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Right, so that's like.

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What does that even mean?

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Taking existing software.

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Okay.

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Putting your own brand on it.

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And then you resell it.

49
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Interesting.

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To your clients.

51
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Yeah, so you're like the middleman.

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Yeah, like you're providing a service.

53
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But you didn't build a software.

54
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Exactly.

55
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Clever.

56
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I know.

57
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But what kind of software are we talking about reselling here?

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So he says every business needs more customers.

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Obviously.

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So that's the need.

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So he focuses on helping small local businesses

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with their marketing.

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Like your local bakery?

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Yeah, or like.

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Plumber down the street.

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Yeah, exactly.

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Smart.

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Everyone needs more customers.

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Right, but here's the thing.

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What's that?

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This five minute setup he talks about.

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Oh yeah.

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How do you even start a business in five minutes?

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I know, right?

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So you're like a little long one that's supposed to be like passive income?

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It sounds too good to be true.

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It does.

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OK, so step one.

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Right.

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You go on Google.

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Find local businesses.

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OK.

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He uses plumbers in Denver as an example.

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Plumber, all right.

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But it could be anything.

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Yeah, hair salons, dog walkers.

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Exactly, whatever.

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Got it.

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So then the pitch.

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OK, this is important.

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This is where it gets kind of crazy.

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Right, lay it on me.

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You tell them, I will get you as many appointments

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as you want in seven days with zero ad spend.

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Wow.

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If I don't deliver, you don't pay.

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That's a bold promise.

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Right.

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How do you even deliver on that?

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Especially without spending money on ads.

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Yeah, that's the million dollar question.

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Now that's where the white label sauce comes in.

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OK, so this is where the magic happens.

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Yeah, the secret weapon is conversation AI.

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Conversation AI?

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What's that?

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It's like imagine a chat bot.

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But like super smart.

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It's on their website or their social media.

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And it automatically answers questions.

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So the business owner doesn't have to.

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Exactly.

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It books appointments.

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That's amazing.

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It's like a 247 virtual assistant.

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So you're providing a service.

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Yeah.

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But you're not chained to your computer.

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Exactly.

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That's the beauty of automation.

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And because it's all automated, you can scale it up.

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You could manage tons of clients.

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Potentially.

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OK, so we have the business.

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We made the pitch.

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The AI is doing its thing.

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But how do we actually make money?

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Right, where's the passive income?

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That's what I want to know.

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So he's got like a two-part strategy.

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The first part is passive income from the AI service itself.

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OK.

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It charges a tiny fee.

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Like per message.

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Yeah, like two cents or something.

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Two cents, that's it.

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But you mark it up when you bill your clients.

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Oh, I see.

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So you charge them like a five cents.

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And you pocket the three cents.

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Exactly.

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So it adds up over time.

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Especially if the AI is handling lots of messages.

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Right, volume is key.

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And then the second part of the strategy is.

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OK, what's the next step?

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After the seven-day trial, you upsell them.

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On what?

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A monthly retainer.

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A monthly retainer, OK.

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He used to just $500 a month.

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$500 a month.

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That's a good chunk of change.

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Right, it adds up quick.

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It does.

156
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But would businesses really pay that much?

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Especially small businesses.

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Yeah, that's a big ask.

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And can you really set all this up in 24 hours?

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That part seems a little far-fetched to me.

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I know, it does seem a little.

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Too good to be true.

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Yeah, maybe.

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Yeah, I think there's some cracks in this perfect facade.

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Right.

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It might not be as simple as he's making it sound.

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Of course, passive.

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Yeah, exactly.

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24 hours.

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Yeah.

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I just, I don't know.

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It seems like a lot to get it all up and running.

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Like finding the clients and getting the AI set up.

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I mean, it's a business.

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It is.

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You can't just like.

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Plug it in and.

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Plug it in and forget it.

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Yeah.

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There's more to it than that.

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Exactly, you still gotta like.

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You gotta know your market.

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Yeah, your client.

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Count relationships.

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And even with the AI.

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There's still work.

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Yeah, you gotta make sure it's.

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Like, it's working.

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Doing what it's supposed to.

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Tweaking things.

191
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Yeah, making sure the appointments are right.

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What if there's a problem?

193
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Exactly.

194
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So it's not really passive.

195
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It's more like.

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Semi-passive.

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Yeah, semi-passive.

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And speaking of things, that could be a problem.

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That markup on the AI responses.

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Yeah.

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It feels a little, is it really ethical?

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That's a good question.

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To mark up the price without.

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Without being totally transparent.

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Yeah.

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Yeah, I think transparency is key.

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Totally.

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Especially with pricing.

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You gotta be up front.

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If you're gonna mark it up.

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Tell them what they're paying for.

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Right.

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Like, imagine going to a restaurant and the soda's $5.

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Oh, yeah.

215
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But they marked it up from like, 50 cents.

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And didn't tell you.

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Yeah.

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Be like, what?

219
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Exactly.

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It's about trust.

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Right.

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Building those relationships.

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And maybe there's a better way to price it.

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Like, instead of just marking up the fee.

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Yeah.

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You could offer like packages.

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Based on the number of appointments.

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Or just a flat monthly fee.

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Yeah, that covers everything.

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So even if this 24 hour thing isn't perfect.

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Yeah.

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It gets us thinking.

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About the bigger picture.

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Like you said, semi-passive income.

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Right.

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Is that even a thing?

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Absolutely.

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Really?

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Yeah.

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I think this model shows us.

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Who bets?

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The power of AI and automation.

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Sure.

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Even if this specific method isn't right.

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Yeah.

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The principles are valuable.

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Like what?

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Like using technology to.

249
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Streamline things.

250
00:06:24,280 --> 00:06:24,880
Exactly.

251
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Be more efficient.

252
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So we shouldn't get hung up on the specifics.

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Right.

254
00:06:29,120 --> 00:06:30,200
It's about the trends.

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The bigger trends.

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00:06:30,880 --> 00:06:32,960
Using technology to our advantage.

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Free up our time.

258
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Yeah.

259
00:06:34,520 --> 00:06:36,120
To focus on what matters.

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That's the dream.

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It is.

262
00:06:38,000 --> 00:06:39,960
But how do we even like.

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How do we start?

264
00:06:40,800 --> 00:06:41,080
Yeah.

265
00:06:41,080 --> 00:06:42,480
How do we know what to automate?

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Well, you don't have to be a tech expert.

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Oh, good.

268
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There are so many platforms and services now.

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That are easy to use.

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User friendly, yeah.

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OK.

272
00:06:50,120 --> 00:06:51,760
And you don't have to start from scratch.

273
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What do you mean?

274
00:06:52,520 --> 00:06:54,160
Other people have already figured out.

275
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Like how to automate stuff.

276
00:06:56,080 --> 00:06:56,920
Exactly.

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00:06:56,920 --> 00:06:57,960
For different industries.

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00:06:57,960 --> 00:06:58,760
Oh, wow.

279
00:06:58,760 --> 00:06:59,880
So do your research.

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Find those tools.

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See what works for us.

282
00:07:02,160 --> 00:07:02,640
Exactly.

283
00:07:02,640 --> 00:07:06,000
Like maybe instead of building an AI chat bot.

284
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We find one that's already built.

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A pre-built platform.

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That just does what we need.

287
00:07:11,200 --> 00:07:12,160
Exactly.

288
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There are platforms for everything.

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Easily.

290
00:07:15,160 --> 00:07:17,080
From scheduling social media.

291
00:07:17,080 --> 00:07:17,560
Wow.

292
00:07:17,560 --> 00:07:20,680
To email marketing, customer service.

293
00:07:20,680 --> 00:07:21,920
It's all out there.

294
00:07:21,920 --> 00:07:22,360
It is.

295
00:07:22,360 --> 00:07:24,240
So find what's taking up your time.

296
00:07:24,240 --> 00:07:25,440
And see if you can automate it.

297
00:07:25,440 --> 00:07:25,760
OK.

298
00:07:25,760 --> 00:07:30,160
So even if this white label saws.

299
00:07:30,160 --> 00:07:30,520
Yeah.

300
00:07:30,520 --> 00:07:31,960
It's not for everyone.

301
00:07:31,960 --> 00:07:32,720
Maybe not.

302
00:07:32,720 --> 00:07:34,200
But it got us thinking.

303
00:07:34,200 --> 00:07:35,560
It opened our eyes.

304
00:07:35,560 --> 00:07:36,640
To what's possible.

305
00:07:36,640 --> 00:07:37,720
To the possibilities.

306
00:07:37,720 --> 00:07:40,280
Working smarter, not harder.

307
00:07:40,280 --> 00:07:41,200
That's the goal.

308
00:07:41,200 --> 00:07:42,520
Using technology.

309
00:07:42,520 --> 00:07:42,880
Yeah.

310
00:07:42,880 --> 00:07:44,680
To create freedom.

311
00:07:44,680 --> 00:07:45,840
Freedom and flexibility.

312
00:07:45,840 --> 00:07:47,320
For businesses and our lives.

313
00:07:47,320 --> 00:07:48,040
Exactly.

314
00:07:48,040 --> 00:07:49,240
That's pretty powerful.

315
00:07:49,240 --> 00:07:49,600
It is.

316
00:07:49,600 --> 00:07:50,480
And who knows.

317
00:07:50,480 --> 00:07:52,320
Maybe you'll come up with your own business model.

318
00:07:52,320 --> 00:07:53,560
That uses AI.

319
00:07:53,560 --> 00:07:54,760
In a totally new way.

320
00:07:54,760 --> 00:07:55,840
I love that.

321
00:07:55,840 --> 00:07:57,440
I'm definitely feeling inspired.

322
00:07:57,440 --> 00:07:58,120
Yeah, me too.

323
00:07:58,120 --> 00:08:00,360
Like there's so much potential.

324
00:08:00,360 --> 00:08:00,800
There is.

325
00:08:00,800 --> 00:08:02,200
It's exciting to see.

326
00:08:02,200 --> 00:08:04,160
How people are using technology.

327
00:08:04,160 --> 00:08:04,960
In new ways.

328
00:08:04,960 --> 00:08:05,360
Yeah.

329
00:08:05,360 --> 00:08:06,600
To create businesses.

330
00:08:06,600 --> 00:08:07,480
And make money.

331
00:08:07,480 --> 00:08:08,600
But we got to remember.

332
00:08:08,600 --> 00:08:08,960
Yeah.

333
00:08:08,960 --> 00:08:10,680
Technology is just a tool.

334
00:08:10,680 --> 00:08:11,120
It is.

335
00:08:11,120 --> 00:08:12,360
It's not a magic bullet.

336
00:08:12,360 --> 00:08:12,680
Right.

337
00:08:12,680 --> 00:08:13,520
We have to use it.

338
00:08:13,520 --> 00:08:14,200
Ethically.

339
00:08:14,200 --> 00:08:15,080
Yeah, responsibly.

340
00:08:15,080 --> 00:08:16,560
Like those old infomercials.

341
00:08:16,560 --> 00:08:16,880
You know.

342
00:08:16,880 --> 00:08:17,320
Oh yeah.

343
00:08:17,320 --> 00:08:19,320
The get rich quick schemes.

344
00:08:19,320 --> 00:08:19,840
Exactly.

345
00:08:19,840 --> 00:08:21,240
Technology can help us.

346
00:08:21,240 --> 00:08:22,120
It can.

347
00:08:22,120 --> 00:08:23,920
But you still got to put in the work.

348
00:08:23,920 --> 00:08:24,560
Absolutely.

349
00:08:24,560 --> 00:08:25,800
Build relationships.

350
00:08:25,800 --> 00:08:27,320
Provide value.

351
00:08:27,320 --> 00:08:29,080
It's not about replacing our skills.

352
00:08:29,080 --> 00:08:29,560
Right.

353
00:08:29,560 --> 00:08:30,880
It's about enhancing them.

354
00:08:30,880 --> 00:08:31,160
Yeah.

355
00:08:31,160 --> 00:08:32,600
Like imagine a chef.

356
00:08:32,600 --> 00:08:33,320
OK.

357
00:08:33,320 --> 00:08:35,160
With a super high tech blender.

358
00:08:35,160 --> 00:08:36,000
Fancy.

359
00:08:36,000 --> 00:08:36,840
Right.

360
00:08:36,840 --> 00:08:37,840
It's a great tool.

361
00:08:37,840 --> 00:08:38,640
It helps them.

362
00:08:38,640 --> 00:08:41,240
But it doesn't replace their creativity.

363
00:08:41,240 --> 00:08:41,880
Their passion.

364
00:08:41,880 --> 00:08:42,480
Yeah.

365
00:08:42,480 --> 00:08:43,040
Their knowledge.

366
00:08:43,040 --> 00:08:43,600
Exactly.

367
00:08:43,600 --> 00:08:45,680
It's the same for any business.

368
00:08:45,680 --> 00:08:48,080
Technology amplifies what we do.

369
00:08:48,080 --> 00:08:51,000
But it's our skills that make us unique.

370
00:08:51,000 --> 00:08:53,120
So what's next?

371
00:08:53,120 --> 00:08:54,120
Good question.

372
00:08:54,120 --> 00:08:55,600
We talked about the white label sauce.

373
00:08:55,600 --> 00:08:56,240
Yeah.

374
00:08:56,240 --> 00:08:57,160
We broke it down.

375
00:08:57,160 --> 00:08:58,480
What do we do with all this?

376
00:08:58,480 --> 00:09:00,000
Start with curiosity.

377
00:09:00,000 --> 00:09:00,600
OK.

378
00:09:00,600 --> 00:09:02,000
What problems do you want to solve?

379
00:09:02,000 --> 00:09:03,080
What am I good at?

380
00:09:03,080 --> 00:09:03,600
Exactly.

381
00:09:03,600 --> 00:09:03,920
Yeah.

382
00:09:03,920 --> 00:09:05,600
And how can technology help?

383
00:09:05,600 --> 00:09:07,640
Are there tools out there already?

384
00:09:07,640 --> 00:09:08,560
That's what I would ask.

385
00:09:08,560 --> 00:09:10,440
So take the inspiration.

386
00:09:10,440 --> 00:09:11,760
Turn it into action.

387
00:09:11,760 --> 00:09:12,640
Do the research.

388
00:09:12,640 --> 00:09:13,520
Make it with other people.

389
00:09:13,520 --> 00:09:14,080
Yeah.

390
00:09:14,080 --> 00:09:15,440
See what they're doing.

391
00:09:15,440 --> 00:09:17,080
And don't be afraid to.

392
00:09:17,080 --> 00:09:18,360
To think differently.

393
00:09:18,360 --> 00:09:19,160
Yeah.

394
00:09:19,160 --> 00:09:21,200
Maybe the perfect business model.

395
00:09:21,200 --> 00:09:22,280
Doesn't even exist yet.

396
00:09:22,280 --> 00:09:24,600
Maybe you'll be the one to invent it.

397
00:09:24,600 --> 00:09:25,400
Wow.

398
00:09:25,400 --> 00:09:27,320
The possibilities are endless.

399
00:09:27,320 --> 00:09:28,000
I love that.

400
00:09:28,000 --> 00:09:29,160
So keep exploring.

401
00:09:29,160 --> 00:09:29,920
Keep learning.

402
00:09:29,920 --> 00:09:31,400
Keep pushing the boundaries.

403
00:09:31,400 --> 00:09:33,160
Who knows what we'll discover.

404
00:09:33,160 --> 00:09:33,800
And remember.

405
00:09:33,800 --> 00:09:34,320
I said.

406
00:09:34,320 --> 00:09:36,000
The journey is important too.

407
00:09:36,000 --> 00:09:37,000
Yes.

408
00:09:37,000 --> 00:09:38,720
It's not just the destination.

409
00:09:38,720 --> 00:09:40,080
Embrace the challenge.

410
00:09:40,080 --> 00:09:41,280
Learn from mistakes.

411
00:09:41,280 --> 00:09:42,560
Celebrate the wins.

412
00:09:42,560 --> 00:09:44,040
It's all part of the process.

413
00:09:44,040 --> 00:09:45,200
That's what makes it fun.

414
00:09:45,200 --> 00:09:46,280
Exactly.

415
00:09:46,280 --> 00:09:47,840
So until next time.

416
00:09:47,840 --> 00:09:48,760
Yeah.

417
00:09:48,760 --> 00:09:50,160
Keep driving deep.

418
00:09:50,160 --> 00:09:52,120
Stay curious.

419
00:09:52,120 --> 00:09:53,520
And keep creating.

420
00:09:53,520 --> 00:10:13,880
Absolutely.