The Sydney Phillips Podcast

My Website: https://www.thesydneyphillips.com

For the FULL episode on my Guest Appearance with It Ain’t It Sis Podcast: https://podcasts.apple.com/us/podcast/it-aint-it-sis/id1498493101?i=1000477324515

My Website: https://www.thesydneyphillips.com

For the FULL episode on my Guest Appearance with It Ain’t It Sis Podcast: https://podcasts.apple.com/us/podcast/it-aint-it-sis/id1498493101?i=1000477324515

My website: https://www.thesydneyphillips.com

Millionaire’s have multiple streams of income, in fact the average millionaire has seven. Providing yourself with multiple streams of income has more than just monetary benefits. This type of diversification can push someone who may be financially conservative to take a plunge in starting a new business because of the security from 6 other streams of income. If you don’t want to be stuck at a 9 – 5 forever, this is for you 

The first is dividends. Investing in stocks that pay back a percent of their profits to shareholder’s can be incredibly valuable to gain profits on your investment. I actually follow a strategy that they call ‘nesting’. Essentially, you invest in a dividend producing stock, and when you receive your dividend, you can reinvest it back into the exact same stock. When I see a fair return on investment, say 10% I take out my initial investment and let the profits from my dividends, money that. was not extra to me run. That way, you get back your initial investment and everything in the account is just a bonus.

The second is REIT’s. Investing in a REIT is incredible smart if you don’t have some of the large sums of cash and leverage that may be required to buy residential or commercial property. REIT stands for Real Estate Investment Trust and essentially, they enable you to own property without the management or liability. These large funds often specialize in a specific type of real estate & can be extremely profitable.

The third is rental. If you can save enough to buy a residential or even bugger scale, a commercial rental property. This is a great and healthy income to have. A few things to be careful of is leverage and property taxes. Be sure that you know what you will have to pay out every year on that income and don’t leverage more than you afford. However, rental property creates great cash flow and income.

The fourth is through offering a course. If you do something very well, you should consider building a course to teach others. These courses can range from social media tactics, how to buy real estate, or a guide to starting a successful YouTube channel. A course will take a lot of work to build but creates additional income every month for no additional time out of your schedule.

The fifth is social media. We all spend oodles of time on social media anyway, why not get paid for it? If you are a phenomenal cook, decorator, health guru or motivational businesswoman, chances are you can build a community around your niche and use this platform to not only influence but also to build your personal brand as well.

The sixth is royalties. This is for the creatives. If you sing, write, design, draw, paint, create melodies, or produce anything that’s on the creative side of business, you can collect royalties. Essentially, every time your song is played, your art design is purchased, etc. you can receive a royalty on that piece of art and work that you produced. Royalties are much like the course in the sense that it will take some time to build, but once you do, all you have to do is market and watch the checks come in.

The seventh is affiliates. Being an affiliate is when you get paid for promoting or partnering with brands. There are different levels to affiliate marketing but you can start today through amazon affiliates. All it takes is an email, a code and a website. You will get paid a percentage of the profit from what the visitors on your site purchase from the direct link on your site.

I hope you found some good ideas to start generating multiple streams of income. Be sure to subscribe to the pink suit and we will see you here next week, same time, same place!

My website: https://www.thesydneyphillips.com

We are living in one of the most innovative and exciting times in the world. We are creating, disrupting and accepting change at a rate far faster than ever before. Those who choose art, music, writing and creative fields have the same opportunities for success that those who love Excel, quantum computing and geek out at a fast processor. 

We are quite literally at the beginning stages of a technological revolution. Are you ready?

Most people would probably answer ‘No.’ Let me take you through a fast walk of some of the words that you will start to notice in the world around you. In one year, if you don’t know what these words mean, you will be left behind. Watch them. Read them. When you can, help them to deliver these processes seamlessly. Invent around them. Let’s jump in!

The first is Artificial Intelligence. This refers to the computer systems that have been built to mimic human intelligence and perform tasks such as recognizing pictures, speech, patterns and decision making. Here’s the catch: it does all of these things faster than humans can. When we refer to automation, we are more often referring to AI. Automation, or AI could eliminate 73 million more jobs by 2030, and before you freak out, they will actually raise the standards of living across the world. An entire new set of skills will be available like development, programming, testing, support and maintenance.

The second shift is Machine Learning. This is a subset of AI. We use machine learning for data analytics, data mining and recognizing patterns. Machine learning jobs include engineers, developers, researchers and data scientists. Machine learning, much like AI, completes tasks on our behalf, which can improve our efficiency so we can focus on more pressing issues that demand our time.

The third is Augmented and Virtual Reality. I am undoubtedly biased here, but augmented and virtual reality will be similar to the disruption of the cell phone. The products will be lightweight, sleek, futuristic, and ultimately will transform the environment and the ways in which we communicate. Virtual reality and Augmented reality are a little different. Virtual reality immerses the user in an environment while augmented reality enhances the environment with a digital overlay. AR and VR have tremendous potential in training, entertainment, education, marketing and even rehabilitation after an injury. Augmented and virtual reality will change your environment and the ways in which we interact with it. Marketing campaigns will be an experience, real estate will become life-like, the potential is far and wide and effects almost every industry you could think of. 

There are plenty more advances that are noteworthy of the tech revolution, but we will save them for another day. One thing that I feel is so important to highlight here is that the world is abundant. While there may have only been a couple of moguls like Carnegie, Ford, and Vanderbilt in the industrial revolution, this next revolution will have space for every single person that wants it. Our world has more problems than we can solve, but each problem is an opportunity. Start solving. 

Be sure to subscribe to the pink suit and we will see you here next week, same time, same place!

We hear about it all the time. Stress can be detrimental to your health. It’s been medically proven that it can cause a whole host of health issues, with everything from high blood pressure, fatigue, depression, anxiety, and even heart disease. It’s no surprise that people feel anxiety about stress with some side effects like those. But, what if I told you that you are in control of how the stress show up in your own life? Well, today that’s exactly what we are going to go over. Handling stress in a way that not only doesn’t leave you with those scary health problems, but actually helps you. So without further to do, let’s jump into it!

The first way to handle stress is pointing out where and when you find it. Sometimes we can be high strung and intense without realizing that the emotion of stress is present. If your honest with yourself, I’m sure you have said something like “I just have a million things going on right now.” These excuses aren’t helpful to getting to the root and churning it into something that you can work with.

The second way to handle stress is to get moving. You can put on some music and dance, take your dog for a walk, or just walk or cycle to the grocery store. Exercise is a great way to blow off steam and it has tremendous benefits to your physical appearance. 

The third way to handle stress is to talk to people about it. By maintaining a network of close friends, you can improve resiliency to life’s stressors. It’s as simple of having a workout buddy, calling to catch up with a friend or spending time with family. Face-to-face interaction actually counteracts the body’s “fight or flight” defense mechanism. It’s basically nature’s chill pill.

The fourth way to handle stress is to manage your time better. Poor time management can cause a lot of stress. You might feel like you are stretched too thin or like your running a marathon without any water. It’s very important to not over-commit yourself. Keep in mind, this comes from a person that has been known to over-indulge in activities, responsibility & creativity. I am far less from perfect at this one but one thing that I have learned through being late to everything is to not schedule things back-to-back. When a meeting runs a little long, you’ll start to sweat it and we humans have a tremendous ability to underestimate how long things will take.

I hope that you can take something away from the following topic & improve your own stressors and turn it into something that can instead propel and motivate you to work forward. As always, subscribe to the pink suit and we will see you here next week, same time and same place!

I, like most people, don’t think I could count the number of emails that have started with “I hope you are doing well in this uncertain time” in 2020. A lot has happened – you may even notice that last week was the first time since starting the podcast that there wasn’t a weekly episode. In an act of solidarity and alliance with the Black community I wanted to mute my voice to amplify the voices that need to be heard. Let this be clear, the unity and alliance does not stop this week. I stand with you today and every day after. I started this podcast as a way to provide value and right now, we as a collective around the world have had to adapt quickly and abruptly to a lot of the events that have happened in the world. I’ve seen tons of comments about people venting that they are “done with living in historical times” –and to that I say, the music still plays and we still have to do the dance. Adaptability isn’t something that everyone is particularly strong in, but I do believe that everyone can learn it. Which is why this week’s episode is on how to be more adaptable.

The first way to be more adaptable is to improve your coping mechanism. If you handle stress in an unhealthy way, it’s important to change these habits first. There are millions of healthy ways that you could cope, but among the highest are meditation, working out, listening to music, reading, or watching a movie.

The second way to be more adaptable requires more mindfulness, be open. Open-mindedness will be the difference between those who can shift with their environment and turn problems into opportunities and those who only have problems.

The third way to be more adaptable is to create an entire alphabet for your plan. While I realize that there are some people like me who are more engaged in risk-seeking, there are also a lot of people that can’t handle that level of uncertainty. If this. is you, write down Plan A, B, C, D ... (you get the idea). Having all of these different paths will give you some comfort in knowing that there is still 25 other ways to pivot.

The fourth way is to stick to your natural inclinations. If a situation doesn’t come natural to you, refer to your natural inclinations. If you’re an extrovert who draws the strength and inspiration from talking to other people, no matter whether they’re family members or total strangers, make sure you talk to them.

I hope that these helpful tricks can help you to be more adaptable. As always, subscribe to the pink suit and we will see you here next week, same time and same place.

How to monetize your social media

I’m going to take a chance and assume that you spend at least an hour of your day on social media. Whether you are creating or consuming the content, wouldn’t it be nice to make money off of that attention, time and data? Today’s topic is going to highlight the ways to monetize your social media, such as Instagram, Tik Tok, LinkedIn, Facebook, and Twitter.

1. Affiliate links – Essentially, you recommend a product or service to your followers. Your audience will then purchase the product or service using your affiliate link and you get paid commission for the sales made. This is a simple and low effort way to recommend products that you actually like, be able to share them with your audience & create an extra income stream.

1. Book – This monetization strategy can include an e-book, audiobook or a paperback. This will undoubtedly take more time to build but once it is done, you’ll have a lifetime to continue to collect on your work.

1. Online course – This is a great way to monetize if you have a solidified niche. You can offer an online course that shows them the ins and outs of the business or a process that you conduct within the business. The number one goal should be to provide value -- genuine value. Again, this monetization strategy will take some time to build, but once it is, you can charge higher prices due to the more intense work

1. Speaking engagements – The book and the online course are often ways to jump off into this territory of public speaking. Around every niche is podcasts, summits, and conferences. Reach out to some of the podcasts or events in your area that may bring like-minded individuals or match your audience to grow your brand and your name.

1. Contributor/Guest Blogger – Just as there are many podcasts, summits and conferences, there are also lots of blogs that will happily take guest writers. There are so many editors who will pay you to write about what you know. Take advantage of your knowledge and don’t be afraid to put yourself out there.

1. Endorsements – This works in a multitude of ways but one of the most common is to talk about a product in one of your social media posts. I urge you to only take endorsements that you genuinely use and love otherwise, audiences are smart and they can smell a sell out from a mile away.

1. Funnel for company clients – For some, this will be the last step and for others this will be the first step. Whatever you do, whether you sell apparel, have a copyrighting business or are an interior designer, use your social platforms to showcase what your work and your day looks like. People are incredibly curious about different industries, even those who already have a career. This will open tons of doors to work with clients around the world and in a multitude of different industries.

I hope you found this week’s podcast of how to monetize your social media helpful! As always, subscribe to the pink suit and I will see you here next week, same time and same place!

We’ve all heard of blockchain before .... in fact, Blockchain first got traction with the very popular cryptocurrency, bitcoin. Let’s be clear here: cryptocurrency, or otherwise your familiarity with bitcoin and blockchain are not the same thing. The blockchain is the technology that creates a network for the transactions and transferring of value to occur. Essentially, blockchain is the global marketplace – a place for the transaction to occur. The cryptocurrencies are the tokens used within these networks to send value and pay for these transactions. Cryptocurrency is essentially the actual trading of value, most comparable to how we use cash today. Today, I’m going to break down 5 ways that blockchain will change the real estate industry in the next decade.

1. Real Estate Investing – Real estate investing has historically only been available to those with large sums of cash that can buy a property, especially in regards to commercial and multifamily housing. Blockchain will decentralize the process through crowdsourcing and tokenization. When you tokenize a real estate asset, the property owner can actually offer digital tokens that represent a share of their property. This allows the barrier to entry to drop & allows more people to invest in cash flowing properties.

1. Property Search Process – The real estate marketplace is built in the Ethereum blockchain. Buyers, sellers, and other agents can use the platform for free, earning rewards for contributing data and helping to maintain the marketplace. Data is encrypted and stored on a blockchain, which means that no company can control or alter it, and all of the data is controlled by the listing party.

1. Due diligence – All parties involved in the process of the transaction have digital identities. These identities can be verified through the blockchain and can help to save a tremendous amount of time and headache of rummaging through old papers to trace the steps. Real estate properties will also have a digital identity. This identity can consolidate information that a lister and a potential buyer would find useful, such as vacancy, tenant profile, financial and legal status and the financials such as monthly cash flow.

1. Smart contracts – Smart contracts have been a revolutionizing trend in the real estate industry. essentially, they digitize contracts for sale and are verified. This solution streamlines one of the most boring parts of the process: transferring of property titles while also adding some layers of security. Rather than sifting through file cabinets to find the appropriate contracts and then keeping them, it only makes sense that we would move to smart contracts, which can then be verified through the blockchain.

1. Financing and payment systems – There are a lot of intermediaries in the real estate industry. A lot. The current prices for mortgage approval for residential properties takes on average around 30 – 60 days to complete, and around 90 days for commercial properties. By putting all of the transactions on the Ethereum blockchain, all parties involved can actually view the current state of the deal in real time. For instance, let’s say that the lister accepts the buyer’s offer, the Ethereum would track this point in the transaction and all parties involved would be able to proceed swiftly and more efficiently.

Get ready for blockchain to make its way into our lives through the places we live, work and love. As always, subscribe to the pink suit and we will see you here next week, same time & place!

Personality Selling

The phrase “build it and they will come” couldn’t be farther from the truth. It goes a little more like “build it and scream it from the rooftops and then they might come.” It’s no secret that different approaches catch different people’s attention.

I’m sure at some point, you have taken a personality test. If you haven’t, you need to. There’s the Meyers-Briggs personality test, DISC assessment and people call them all sorts of things, but regardless of what test you use, you’ll be able to use these strategies to implement into your sales and marketing aspects of your team to increase your sales and get the customers you want to want you!

The first is Assertive. An assertive personality type will speak in statements rather than questions and are often a little louder than average. If you’re selling to an assertive, here are some things to remember:  

• Professionalism is particularly important to them --if you don’t know an answer, tell them you will follow up and do so in a timely manner.

The second is Amiable. An amiable personality type is normally a phenomenal listener and they aren’t afraid to ask those personal questions to get to know you outside of a work setting. They are generally more laid-back and informal, so if you’re selling to an amiable, here are some things to remember:

• Building rapport will be most important. Amiable’s need to feel safe in their relationship with your company before they’ll be comfortable doing business with you.

The third is Expressive. An expressive personality type values personal relationships at the highest degree. They are concerned with other people’s well-being and they want to know how decisions affect all of the people around them. Expressive’s are creative, outgoing, spontaneous and they often rely on their feelings rather than logic. If you’re selling to an expressive, here’s some things to remember:

• Show them your history. Expressive’s want to make sure that you are looking out for them so that they can look out for the people around them. Show them the progress and amazing things you have already done to help other businesses and individuals.

The fourth is Analytic. The analytical personality type loves all things data, facts, and figures. As no-nonsense people, they’ll look right past your beautifully crafted hook and probably research you before the meeting. They are also incredibly diligent about vetting, focus on logical strategies and cautious. If you’re selling to an analytic, here’s some things to remember:

• Don’t rush them. Be prepared and patient with a longer selling process. They will take as much time as they need to gather all the facts they feel are necessary to make a decision.

 As always, subscribe to the pink suit and we will see you here next week, same time and same place!