Okay, so passive income online.
Yeah.
Everyone wants that, right?
Like, who doesn't love the idea of money, just?
Money while you sleep.
Yeah, exactly.
Absolutely.
So you're scrolling YouTube, and you found this video.
I built a business in 24 hours for $0 to make money online.
Oh yeah, I've seen that one.
It's by Jason Wardrop.
Catchy title.
Right, like a business from scratch.
In a day.
In a day, without spending any money.
Yeah, no money down.
Sounds crazy.
It does.
So we're gonna break it down.
Right.
See if it's for real, you know?
Yeah, let's see if it lives up to the hype.
His whole strategy is about this thing called white label sauce.
White label sauce, yeah, it's a bit of a mouthful.
I know, it sounds complicated.
Definitely.
But maybe it's not.
Gonna find out.
So he uses this analogy with Netflix.
You okay?
To explain the sauce part.
You pay your monthly fee.
Right.
For all the movies, all the shows.
That's all you can watch, Rick.
Yeah, so that's basically sauce.
Software as a service.
A company providing access to their software.
For a recurring fee.
Exactly.
Okay, so that's say yes.
But what about this white label thing?
Right, so that's like.
What does that even mean?
Taking existing software.
Okay.
Putting your own brand on it.
And then you resell it.
Interesting.
To your clients.
Yeah, so you're like the middleman.
Yeah, like you're providing a service.
But you didn't build a software.
Exactly.
Clever.
I know.
But what kind of software are we talking about reselling here?
So he says every business needs more customers.
Obviously.
So that's the need.
So he focuses on helping small local businesses
with their marketing.
Like your local bakery?
Yeah, or like.
Plumber down the street.
Yeah, exactly.
Smart.
Everyone needs more customers.
Right, but here's the thing.
What's that?
This five minute setup he talks about.
Oh yeah.
How do you even start a business in five minutes?
I know, right?
So you're like a little long one that's supposed to be like passive income?
It sounds too good to be true.
It does.
OK, so step one.
Right.
You go on Google.
Find local businesses.
OK.
He uses plumbers in Denver as an example.
Plumber, all right.
But it could be anything.
Yeah, hair salons, dog walkers.
Exactly, whatever.
Got it.
So then the pitch.
OK, this is important.
This is where it gets kind of crazy.
Right, lay it on me.
You tell them, I will get you as many appointments
as you want in seven days with zero ad spend.
Wow.
If I don't deliver, you don't pay.
That's a bold promise.
Right.
How do you even deliver on that?
Especially without spending money on ads.
Yeah, that's the million dollar question.
Now that's where the white label sauce comes in.
OK, so this is where the magic happens.
Yeah, the secret weapon is conversation AI.
Conversation AI?
What's that?
It's like imagine a chat bot.
But like super smart.
It's on their website or their social media.
And it automatically answers questions.
So the business owner doesn't have to.
Exactly.
It books appointments.
That's amazing.
It's like a 247 virtual assistant.
So you're providing a service.
Yeah.
But you're not chained to your computer.
Exactly.
That's the beauty of automation.
And because it's all automated, you can scale it up.
You could manage tons of clients.
Potentially.
OK, so we have the business.
We made the pitch.
The AI is doing its thing.
But how do we actually make money?
Right, where's the passive income?
That's what I want to know.
So he's got like a two-part strategy.
The first part is passive income from the AI service itself.
OK.
It charges a tiny fee.
Like per message.
Yeah, like two cents or something.
Two cents, that's it.
But you mark it up when you bill your clients.
Oh, I see.
So you charge them like a five cents.
And you pocket the three cents.
Exactly.
So it adds up over time.
Especially if the AI is handling lots of messages.
Right, volume is key.
And then the second part of the strategy is.
OK, what's the next step?
After the seven-day trial, you upsell them.
On what?
A monthly retainer.
A monthly retainer, OK.
He used to just $500 a month.
$500 a month.
That's a good chunk of change.
Right, it adds up quick.
It does.
But would businesses really pay that much?
Especially small businesses.
Yeah, that's a big ask.
And can you really set all this up in 24 hours?
That part seems a little far-fetched to me.
I know, it does seem a little.
Too good to be true.
Yeah, maybe.
Yeah, I think there's some cracks in this perfect facade.
Right.
It might not be as simple as he's making it sound.
Of course, passive.
Yeah, exactly.
24 hours.
Yeah.
I just, I don't know.
It seems like a lot to get it all up and running.
Like finding the clients and getting the AI set up.
I mean, it's a business.
It is.
You can't just like.
Plug it in and.
Plug it in and forget it.
Yeah.
There's more to it than that.
Exactly, you still gotta like.
You gotta know your market.
Yeah, your client.
Count relationships.
And even with the AI.
There's still work.
Yeah, you gotta make sure it's.
Like, it's working.
Doing what it's supposed to.
Tweaking things.
Yeah, making sure the appointments are right.
What if there's a problem?
Exactly.
So it's not really passive.
It's more like.
Semi-passive.
Yeah, semi-passive.
And speaking of things, that could be a problem.
That markup on the AI responses.
Yeah.
It feels a little, is it really ethical?
That's a good question.
To mark up the price without.
Without being totally transparent.
Yeah.
Yeah, I think transparency is key.
Totally.
Especially with pricing.
You gotta be up front.
If you're gonna mark it up.
Tell them what they're paying for.
Right.
Like, imagine going to a restaurant and the soda's $5.
Oh, yeah.
But they marked it up from like, 50 cents.
And didn't tell you.
Yeah.
Be like, what?
Exactly.
It's about trust.
Right.
Building those relationships.
And maybe there's a better way to price it.
Like, instead of just marking up the fee.
Yeah.
You could offer like packages.
Based on the number of appointments.
Or just a flat monthly fee.
Yeah, that covers everything.
So even if this 24 hour thing isn't perfect.
Yeah.
It gets us thinking.
About the bigger picture.
Like you said, semi-passive income.
Right.
Is that even a thing?
Absolutely.
Really?
Yeah.
I think this model shows us.
Who bets?
The power of AI and automation.
Sure.
Even if this specific method isn't right.
Yeah.
The principles are valuable.
Like what?
Like using technology to.
Streamline things.
Exactly.
Be more efficient.
So we shouldn't get hung up on the specifics.
Right.
It's about the trends.
The bigger trends.
Using technology to our advantage.
Free up our time.
Yeah.
To focus on what matters.
That's the dream.
It is.
But how do we even like.
How do we start?
Yeah.
How do we know what to automate?
Well, you don't have to be a tech expert.
Oh, good.
There are so many platforms and services now.
That are easy to use.
User friendly, yeah.
OK.
And you don't have to start from scratch.
What do you mean?
Other people have already figured out.
Like how to automate stuff.
Exactly.
For different industries.
Oh, wow.
So do your research.
Find those tools.
See what works for us.
Exactly.
Like maybe instead of building an AI chat bot.
We find one that's already built.
A pre-built platform.
That just does what we need.
Exactly.
There are platforms for everything.
Easily.
From scheduling social media.
Wow.
To email marketing, customer service.
It's all out there.
It is.
So find what's taking up your time.
And see if you can automate it.
OK.
So even if this white label saws.
Yeah.
It's not for everyone.
Maybe not.
But it got us thinking.
It opened our eyes.
To what's possible.
To the possibilities.
Working smarter, not harder.
That's the goal.
Using technology.
Yeah.
To create freedom.
Freedom and flexibility.
For businesses and our lives.
Exactly.
That's pretty powerful.
It is.
And who knows.
Maybe you'll come up with your own business model.
That uses AI.
In a totally new way.
I love that.
I'm definitely feeling inspired.
Yeah, me too.
Like there's so much potential.
There is.
It's exciting to see.
How people are using technology.
In new ways.
Yeah.
To create businesses.
And make money.
But we got to remember.
Yeah.
Technology is just a tool.
It is.
It's not a magic bullet.
Right.
We have to use it.
Ethically.
Yeah, responsibly.
Like those old infomercials.
You know.
Oh yeah.
The get rich quick schemes.
Exactly.
Technology can help us.
It can.
But you still got to put in the work.
Absolutely.
Build relationships.
Provide value.
It's not about replacing our skills.
Right.
It's about enhancing them.
Yeah.
Like imagine a chef.
OK.
With a super high tech blender.
Fancy.
Right.
It's a great tool.
It helps them.
But it doesn't replace their creativity.
Their passion.
Yeah.
Their knowledge.
Exactly.
It's the same for any business.
Technology amplifies what we do.
But it's our skills that make us unique.
So what's next?
Good question.
We talked about the white label sauce.
Yeah.
We broke it down.
What do we do with all this?
Start with curiosity.
OK.
What problems do you want to solve?
What am I good at?
Exactly.
Yeah.
And how can technology help?
Are there tools out there already?
That's what I would ask.
So take the inspiration.
Turn it into action.
Do the research.
Make it with other people.
Yeah.
See what they're doing.
And don't be afraid to.
To think differently.
Yeah.
Maybe the perfect business model.
Doesn't even exist yet.
Maybe you'll be the one to invent it.
Wow.
The possibilities are endless.
I love that.
So keep exploring.
Keep learning.
Keep pushing the boundaries.
Who knows what we'll discover.
And remember.
I said.
The journey is important too.
Yes.
It's not just the destination.
Embrace the challenge.
Learn from mistakes.
Celebrate the wins.
It's all part of the process.
That's what makes it fun.
Exactly.
So until next time.
Yeah.
Keep driving deep.
Stay curious.
And keep creating.
Absolutely.