Now that you have decided to become a Passive Income Hero and begin your home-based business, you will need to learn how to stay super productive. Many pitfalls can befall you on this path to greatness; the main one is your creativity. So, let’s get into how to get the most out of your time and effort.
First, let me introduce myself and my journey for context. My name is Josh, and I am an active duty US Marine of 22 years. I started a blog (Military Family Investing) about a year ago, thinking everyone was just going to flock to my website. NOT!!
About six months ago, after reading some great books such as “Company of One,” “Superfans,” and “The 4-Hour Work Week,” I decided to drill down into getting my website off the ground. I also decided to start releasing books on Amazon.
Create an eBook Series for Passive Income
In my first month on Amazon, I sold one book. This is my sixth month, and I have sold 35 books, which is no small feat. Once you start your business, you will understand how utterly small you are in the big sea of the internet.
But, I didn’t just sell 30 books in one month because I kept writing. No, I had to read books on writing, design, advertising, and marketing. I had to learn to add value to the lives of others, and once I made that connection, I was all the better.
I also finally understood that I had to put the grind in. I have written 1000+ words every day for the last six months. Most of the time, I write much more than this. Each article I release builds my internet credibility increasing “The Compound Effect” on which my platform is built.
I still have a long way to go, and I love what I do with my home-based business. I am 100% in control of my time and efforts. I am my own boss, and I am doing exactly what I want to do. My business is also passive, meaning that I do not have hours or schedules. If I want to take a month off, my books and websites will continue to produce income.
The Magic of Royalties
All this is a long way to tell you that I have put in the work. I have much more to do, but I have built a tiny building on the internet that people traffic. This is no small feat because of the sheer size and scope of the internet. However, with so many people on the internet, you can build an audience if you are consistent. Let’s look at some ways for you to stay productive, compatible, and happy with your home-based business.
Pick the right business. First and foremost, you will need to pick the right company for your situation. That’s right; you will need to build a business around your lifestyle. Building a home-based business is not about doing what everyone else is doing; it’s about living your life.
If you have two small children and you have two hours of free time a day, then your business needs to fit into those two hours—brainstorm about what you can do with those two hours every day that can lead to your success.
For example, let’s say you want to start a YouTube Channel. You can spend Monday writing your script, Tuesday editing your script, Wednesday shooting video, Thursday editing your video, Friday uploading your video, and Saturday converting your writing into a blog post.
Basics of Design 105
So for the week, you have a new blog post and a new video. You’ll be surprised at how fast you will start to accumulate a back catalog of content. This back catalog serves as a way to give you credibility and also increases your knowledge and skills.
Make your business conform to your schedule, not the other way around. This brings me to my second point, be in the game for the long run.
Be in the game for the long run. If you are in this business for the money, you are better off getting a job. A home-based business is about creating value. Once you create value, the money will follow, and more money than you can imagine. I am just starting my writing career (I don’t even have any reviews on any of my books), but people worldwide are beginning to read my books.
I am in it for the long run. I could have just worked a second job and made more money in the short term. However, this way, the skills I am learning about writing, advertising, design, and marketing will pay off in spades in everything I do in life.
I have given myself two years to get to $1,000/month in passive income from books. That number does not include my website or affiliate marketing. You will need to take this long-term approach to be successful. There is no such thing as fast money. You are building something that you may be able to leave to your children.
Focus on Value. Along the same lines is your dedication to creating value for your audience. You will need to build an audience before you make customers. No matter what your business entails, you will need a social media presence and to create content. There are no ifs, and, or buts about it; you need to have a forward-facing presence to become successful.
The Golden Handcuffs of Lifestyle Inflation
You see, your audience wants to see you and hear from you—they want to know your backstory. They have the money to spend, but they want to ensure they buy products that add value from people they respect. This process takes time—it takes about 11 “touches” before someone makes a buying decision.
You will drive yourself crazy trying to make a sale right from the start. Ask yourself, “What value can my product serve to improve someone else’s life?” You never know what your true income stream will be, so focus on providing value.
For instance, let’s say you want to start your line of cooking knives and other utensils. Long before you introduce your cooking line, you will need to create blogs, posts, and videos about cooking.
You can talk about how cooking is good for the soul, improves the awareness, saves money, and makes for a happy family. Indeed, as I wrote in “Create a Never-Ending Stream of Content,” you can make an endless supply of content. You may be creating content for over a year, building an audience, before you even attempt to introduce your cooking line. It is about the long game.
Start a Family Business
You don’t know your actual income stream. Above is a screenshot of some of the articles I have released on my blog. I upload the designs and links to my Pinterest to keep tabs on how I am doing. Look how much content this adds up to be, and this is only looking back two months.
When I started writing, I had no idea that design would also be a major part of my creator’s profile. I just happened upon designing and began to really enjoy doing my artwork. And guess what? That design language now carries over to my books.
I release books, and people are starting to buy and read them. A significant part of that is the design language I have been cultivating over the last six months. I still have a lot to learn, but it has been an incredible journey.
But, I still don’t know what my primary money maker will be. I may end up giving my books away for free, but they may have affiliate links to high-end resources or courses that people will buy. Book royalties are very lovely, but they are not massive amounts of money.
I Live Paycheck to Paycheck 2
If for every 100 books I can sell (or giveaway), I sell five online courses, which make me $100 each, then we are talking about $500. But this is all beyond where I am currently at right now. Now, I am focusing on building content, improving my design and writing skills, and adding value for my audience.
Don’t overwhelm yourself. Everyone on the internet is making money, or so it seems. You will start and instantly feel like a failure. But in the end, 3% of people are creating content on the internet. The people who say they are making money are making more money but telling you they are making money.
Don’t buy into the hype. Creating an income stream takes a while because building an audience takes time. There is no way around it; a business requires an audience. When you start your business, you will want to monetize everyone, place ads everywhere, and put affiliate links on everything. Don’t do that.
Set goals for yourself, like ten unique website visitors a day, before digging into other income streams. Each stream is a business into itself. They take time to get them right. First, create a vast library of content. You will see as you get new eyeballs on your website how many people are looking at articles you wrote months ago. That’s how the internet works.
Happiness isn’t Free
If done correctly, you will never have to worry about your audience moving on. For example, I release all my books on Amazon. But if Amazon made some unfriendly moves to independent artists, I can create my own bookshop on my website. I can release my books in pdf format.
I have so many books that I can create a subscription model to send out a book a month to subscribers, and they can also go into my website for unlimited downloads. So, I am not worried about my content. My content will set me free in the end.
Final thoughts. So before you run off and start a business, think about content, content, and more content. I dare say this is the most crucial part of a home-based business. Why do you think Coca-Cola and Pepsi still advertise. Everyone knows who they are, but they need to keep brand awareness high at all times.
Run a Passive Airbnb Business
You have zero brand awareness when you start. Zero. I remember releasing my first content into the sea on the internet, with no responses, for months. Yeah, it sucks, but it is part of life. You have to start somewhere.
But it takes time and patience. You have to maximize your time at home. Again, focusing on content is the best way to stay productive. Your content will be what carries your business; therefore, focusing on content will pay the most dividends in the long run.
I just released a book called “The Biggest Book on Passive Income Ever.” If I had tried to write this book on my own, it would have taken two to three years, easy. But I just write an article a day, for seven months and tada! I have a 1,100-page book. Amazing. That is the power of focusing on the correct income streams at the right times.
You can do the same. Take a step back, look at your future business from a perspective of five to ten years away. How much time do you want to spend on your business? How much money would you like to make? How can you get there and keep the business relatively passive? Creating content is the most productive thing to do for your business. From there, all income streams are created. Good Luck!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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