The Income Wheel: My Personal Philosophy Of Making Money!

Catchy title, the “Income Wheel,” isn’t it? I came up with that name for how I wish to make my money back in, get ready, 2001. Yes, that long ago. While new ways of making money have popped up over time, the “Income Wheel” is still my model for how to go about making money if you’re a coach, author, speaker, information marketer, entrepreneur, small business owner, content creator, etc.

My Personal Goal-Setting Formula For Wealth & Extra Income!

I created “The Income Wheel” as my personal, financial, goal-setting formula for creating wealth through the sale of information based products and services. It applies equally well to material-based products and services if you sell those too.

The Income Wheel: My Personal Philosophy Of Making Money!
First, let’s discuss the design of the “Income Wheel.” You have a circle, divided into 4 sections.

The “Design & Concept” behind the “Income Wheel” …

The concept is simple. To further illustrate my thinking, please see the following illustration above. Notice that in the first position we have is PRODUCTS, then, SERVICES, AFFILIATES and INVESTMENTS (in that order). In the sections to follow, you will learn more about how the income works and how it was designed to help make you money.

When it comes to making money, there are FOUR KEY INCOME SOURCES to work:


Look at it. Understand it. Then ask yourself, “Where am I with respect to “The Income Wheel?” Does your income come mostly from services, and not enough from product sales? Do you have ANY affiliates to help you market your products and services. And, do you have any plans to investment the monies you do make from selling products and services, etc.


  • Books, Manuals, Reports, etc.
  • Audio / MP3’s
  • eBook / Digitally Downloadable Products
  • Online Video
  • Home Study Course Manuals

If you can think it, write it, make it or package it … sell it!


Services, such as:

  • Consulting … 1-on-1 (i.e., time for dollars …)
  • Seminars … large audiences / group dollars …


START your own Affiliate Program! Enlist others to help market and sell your products across the World Wide Web for a commission. You only pay commissions when products are sold and the money is in the bank. Running an affiliate program is among the top five marketing tactics you can do to help drive loads of traffic and qualified leads to your website.

JOIN an Affiliate Program! Sign up with one or more affiliate programs whose products/services relate and/or complement yours. You now have customers. Sell other people’s products and services. Every time you do, you make a commission or earn a referral bonus.

JOINT VENTURE with other Affiliate Professionals. Refer other people’s products to your customers and ask your joint venture affiliates to do the same with yours. Swap testimonials! Complement and endorse non-competing, complementary products and services.

Once someone makes a purchase from you, they’re bound to say, “What else have you got?” That’s when you share your joint venture affiliates’ products and services with your customers and they in turn share your products and services with their customers. It’s a win-win-win situation every time!


At this point, you’ve worked hard for the money. Now, get the money to start working hard for you!

  • Stocks
  • Bonds
  • Futures
  • Real Estate
  • Mutual Funds
  • Commodities
  • Precious Metals
  • Currency/Forex
  • Another Business, etc.

It doesn’t matter what you invest your money in (per your choice), it’s just that you do something with your money to earn MORE MONEY!

The “Income Wheel” (Formula Defined)
The formula is really quite simple!

FIRST » Develop your products! You don’t want to be making a living hour to hour, paycheck to paycheck, just consulting one-on-one for long. What happens if you get sick or want to go on vacation!
What if you just don’t want to work! 😉 You want extra income, on the side, through the sale of products (from your website) while you’re consulting, meeting, eating, sleeping, bathing, driving and having fun.
Your website should be designed to sell product 24/7. With the sale of product(s) helping your income, if you don’t feel like working, it’s OK! Because you have products selling for you everyday, every hour, on the hour to help offset the bills!

Suppose your product is selling for $39.95. Three (3) sales a day x $39.95 product x 30 days a month = $3,595.50 in monthly income from products sold off your website.

I think you can make your car payment and then some with that sort of (extra) income! What if you made more than three sales a day? What if you had more than one product?

SECOND » Develop 1-ON-1 & GROUP SERVICES around your products and expertise!

With products in hand, get out there and promote them. Your products are already attracting attention to your “expertise”. People now want to see you LIVE and IN-PERSON.

Many times, your time is better served speaking to a large group of people, rather than servicing them one-on-one. Take advantage of this opportunity: share your knowledge with the world for a fee. Your $39.95 product now became a $100+ (per person) seminar where the cost includes the product. You’ll speak before an average of 25 people (at $100 each) = $2,500 for the day.

Oh, and you only spoke for 3 hours! … So, your hourly rate was approximately $833.33 per hour (not including time for set up, supplies and/or travel time to and from). Not a bad day’s income! Do that two or three times a month, and you’re set for some nice added, extra income …

THIRD » With all this momentum, affiliate, incorporate and/or joint venture with other people’s products and services. And, for added income, enlist the help of others to help sell your products as well!

Start your own Affiliate program to help increase market exposure for your products. Make it easy to join. Like any marketing expense, running an affiliate program is different – you pay only for RESULTS/SALES! Commissions are only paid to your affiliates when product is sold and money is in the bank!

Also, you have a long list of customers who bought from you. REFER these customers to other people/products/companies who do not compete with you but complement your product or service.

FOURTH » With all this great money you’re making, INVEST IT!

You’ve worked hard for the money. Now, it’s time for “the money” to start “working for you!” Considering your interests, fascination or expertise, investigate those investments that appeal to you.

Simplicity rules the “Income Wheel” …

And, that’s it! Simple, really. I designed “The Income Wheel” to help organize our most profitable sources of income.

So, pour your heart and soul into creating products for income, service your customers via one-on-one and/or group consultation for income, affiliate with others to sell their products as well as they might help you sell yours for income, … then finally … invest that which you make today for financial security … tomorrow!

Your income potential has no limit. Work “The Income Wheel” with all that you’ve got until you are overall, financially fulfilled!

Great product ideas that turn your knowledge into potential income!

Check out this long list of products you can create, sell and share with others to sell for you helping you to increase your income from all angles, far and wide!

Remember this, if you’re in business for yourself, duplication (of your knowledge) in product form or finding products that the masses will buy or a product you can resale that’s inline with your passion, will be the deepest secret to your financial success.

As long as you keep working hour after hour only for a hand-full of dimes, you’ll never “really” get ahead … UNTIL you start selling something outside of your being – that is – products.

Be sure to check out my My “50 States Sales Goal” To Aim For When Making Money Online and My “Projected Income Chart” For Setting Sales & Income Goals reports for more information on these powerful approaches to accumulating wealth online and throughout your lifetime. You an also “project” possible income through the sale of your products. Cool stuff for sure!

What are the best products to sell?

Here are the best products to sell from your website and at seminars, expos and trade shows:

  • Information (Solutions to people’s problems)
  • Your Own Knowledge (Keep 100% profit …)
  • Affiliates’ Products (Sell other people’s products and collect a % of every sale …)

Where do you get knowledge to sell?

That’s a great question! Where DO you get the information and knowledge (to make into products) to sell?

  • Research (share what you found through research)
  • Study/Learning (share what you learned)
  • Expertise (share what you were taught/trained to do)
  • Experience (share what you learned)
  • Observation (report/document lessons)
  • Recommend It (other’s products)
  • Buy It (resale rights)

How can you package your knowledge to sell?

There are so many ways to package your information products to sell. Here are a few of them …

  • Write from experience, expertise, observation, research, study, etc. …
  • Record audio products live or from printed material …
  • Video Tape your knowledge live from seminars, etc.
  • Transcribe all your audio/video recordings into print/digital format …
  • Print your knowledge via books, reports, newsletters, eZines …
  • Digitize your knowledge to sell digitally from your website …
  • Bundle your knowledge …
  • Conduct seminars, webinars and tele-seminars with your expertise …

… or maybe the products you want to sell are already packaged for you. Just sell from your website, collect the money, fulfill the order, let someone else drop ship and you’re done!

About BartSmith

Bart Smith is the author of several books, professional marketer and self-publishing consultant, a personal coach, and a dynamite, motivational speaker. A self-starting, life-affirming, renaissance man, Bart is an entrepreneur at heart, who also bakes the world's best chocolate chip cookies at He shares his insights, skills, training and knowledge here, on his training website,, and helps people make money online with his online marketing shopping cart software,

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