Welcome back, everyone! Despite the name, this is an all-inclusive article focused on anyone looking to make money from home. I like to focus on mothers because they stand to gain the most from building a home-based business.
This article is part two in the series, and you can find part one here. It has been 90 days since I last checked in, and I have learned a lot in the meantime. I am in the process of starting my home-based business and have seen very positive results over these 90 days. That’s what happens when I stop making excuses and get started.
Why do I say that mothers have the most to gain? There are many reasons, so let’s make a quick list. First, I am not a fan of what the school systems teach our children. I believe that our kids are better served learning from home, especially if one of the parents is a true entrepreneur. I explain more in “Don’t Let School Interfere with Your Education.”
Become a Content Creator
Second, I do not believe that any mother wants to hand over their child to a daycare system. Beyond that, the daycare systems are not parent-friendly anymore. If your child coughs once, they have to be removed from care for 48 hours or more. This madness is getting out of hand; how can anyone work a job with this pressure and stress?
Third, the school, medical, dental system, etc., are not made for mothers to be in the workforce. They are not sensitive to a dual-working family at all. My son had so many appointments for his braces that it was my second full-time job. Luckily, I had been in the military for over 20 years and could escape from work to attend. It was absolutely ridiculous, and I wouldn’t wish that on any human being.
Lastly, becoming an entrepreneur, no matter how big your business evolves, is a life-changing event. When you start to learn the intricacies of your business and start making tweaks that create more cash flow, you will fall in love with the freedom of entrepreneurship.
Sorry, I have been rude and not introduced myself and my situation. My name is Josh, my wife’s name is Kristina, and we have been married for 15 years. We have two wonderful boys, ages 14 and 10.
When our boys were younger, we were lucky enough to have my mom come and stay with us for eight years. Then we got stationed in Japan and had to turn our kids over to the daycare system. We came back to Florida, and during the pandemic, Kris’s job became work from home. She is much happier making a good wage working from home. She loves it, and I believe most people would.
Will You Make a Good Landlord?
As for me, I got stationed back in Japan for a two-year sentence. This time my family stayed in Florida. While here, in my barracks room, I had a few options: waste time drinking beer and playing video games, get a second job, or create a passive income stream.
Guess which one I choose. I have been hard at work at creating passive income from book royalties. In six months, I have gone from selling one book to over 22 in month six, with a few more days to go. And there are still more income streams that will branch off from there.
However, income streams, especially passive income streams, take time to build out. That is why the earlier you can commit to your streams, the better off you will start seeing results. I would say give yourself two years before you start seeing real money flowing in. By real money, I would say $3,000/month passively.
How We Built 13 Streams of Income
I am giving myself two years before starting to see $1,000/month from book sales, along with $500/month from my blog and $500/month from affiliate marketing. Two years sounds like a lot, but you will make minor improvements and see results each and every month. It moves fast, and it is so interesting that time will move at double speed.
However, you will need to form the correct mindset. If you are doing this just for the money, you will not be as successful as you’d like. You have to develop the idea of adding value to others’ lives. The more value you add, the richer you will become.
With all these being said, let’s look at seven ideas that you can use to get started on your home business. Each will need your unique touch, but you will not know what that is until you get started. The best strategy is to start reading books, fine-tune ideas by watching YouTube and courses and jump in. You’ll find that your methods will be different from others. That is okay; there is no perfect step-by-step guide to making YOUR passive income stream.
Have Blog, Will Travel
Case in point, I took an online course on how to publish Kindle books. They recommended not to create your own covers, yet I make my own covers. They did suggest using a ghostwriter; however, I do not use a ghostwriter; I use my own words. You see, you do what you want, how you want. The market and your audience will tell you what is working by buying your products or services. But, enough babbling, let’s get into it.
1) Become a Writer. I think writing is the best thing for anyone who is time-sensitive to start. If you can carve out two to three hours a day, you can make decent money writing. You can always create time during the magic hours, and yes, I know it will be difficult with children.
Here is the crux of the article; it will be challenging to get started. Your time, knowledge, and money will be lacking. So what are you going to do? You have two options: cry about it or get started. That’s it. No one is coming to save you and give you a custom-built income stream. If you can get started when your kids are three, you could be making good money by the time they start first grade. Then you can really turn up the volume on your business.
The Advantages of Adult Children Living at Home part II
2) Write an eBook Series. Similar to being a writer, but more focused on the book releasing part of the house. Books aren’t the number one way to make money online, but you will build a rabid group of followers. Once you find the right products to serve as affiliates, you can create a significant income stream by serving recommendations to your audience.
3) Dividends. Yes, I know, dividends require money to get started. However, there are many ways to make additional streams of income from dividends. You can begin with a $2,000 dividend portfolio and build a career from there, trust me.
The most complicated market to tap into is the female market when talking about investing. Many women want to learn about dividends but are too nervous to try. Having someone who they can relate to will boost you up very quickly. I still haven’t seen a young mother talking about dividends to this day.
You can also try your hand at options trading or foreign exchange markets. Maybe you can learn about cryptocurrencies and start a blog and book series about them. Everybody’s voice is unique and can draw an audience, don’t let limiting beliefs stand in your way.
4) Run a Property Management Business. If you can get away from life for two or three hours a day, you can do this. Property management is all about being organized and having standard operating procedures. If you can follow your own rules, be firm and fair with tenants, and stay on top of paperwork, you can do this.
Read books, get certifications, and find someone you know (who is renting their house) to get started. It is tough to find suitable property managers, and they are always in demand.
Automation Can’t Replace Creativity: Start Your New Business
5) Start a Family Business. This strategy is the best reason to start your home business; you can pass your knowledge directly to your children. Once you get your business off the ground, you will have tons of resources to help your kids get involved. Once they become 15+ and are legal workers, you can do even more with them.
I read that you can give your child a job when legal and start their Roth IRAs. They are only allowed to contribute as much as they make, but you control how much they make. So, if you pay them $6,000 for the summer, then they can contribute $6,000 to the Roth IRA at age 15 (or whatever your state law is).
Doing the math, $6,000 at an 8% return over 50 years equals $250,000. Do you see how powerful these ideas are? It all starts with you and creating your businesses and passive income streams.
Some ideas for family businesses are a dog park at your home, a rental car business, or a herb garden. There are way too many to list, so be creative.
6) Run a Passive Airbnb Business. If you have a space that you can rent out, whether a room, garage, basement, attic, mother-in-law standalone, etc., this will be a great business. Renting rooms is the fastest, most efficient way to become rich (in my opinion).
Do I Need A Lot of Money to Start Investing?
You can Airbnb an external RV or tiny home. There are tons of ways to get this started. Yes, I know that it may require capital to get started, so I wrote the Creative Financing in Real Estate series.
7) Buy and Rent out an 18 Wheeler Truck. This could be one of the better passive income streams, especially if you just buy and rent the trailers. If you have the time to learn this and dig deep, there are many ways to monetize portions of these passive income streams.
I know it sounds daunting, but once you start to peel back the onion, you may find that it makes sense. From there, you can jump in. Don’t let your lack of knowledge hold you back, trust me, I just started writing and releasing books six months ago.
Conclusion. There are many ways to get started on your passive income streams; however, the hard part is putting your action into gear. Make a plan to move forward each day—and not just learning but doing.
Strong Finances, Strong Marriage
I recommend that you start writing a journal. Once you learn all these new ways to make money and create passive income, it will be tough to convey it to newcomers. The best way to describe it to the mind of a novice is from the mind of a beginner.
I wrote many articles about stock market investing seven months ago, and I continue to refer my readers to those articles. The reason is that I can’t go back and write those same articles again. I know so much more about the world, inflation, interest rates, commodities, etc., that my stock market tips will be way over someone’s head.
So start with a journal, you can post it to a blog if you’d like, but your journey will always be valuable to someone else. Just like your daily job of being a mom, wife, and entrepreneur will always be of interest to millions of people.
Don’t be fooled; only 3% or less of humans create content on YouTube, write books, create artwork or music. It may seem that everything is over-saturated, but there is enough room for everyone to get involved, as long as they stick to it.
With that, I bid you ado. Have a great day, and do some deep soul searching on why your business will be vital to you, your family, and your relationships. Trust me, having freedom of time and money is an excellent way to live. Good Luck!
Download Passive Income Printables for Your Financial Journey (here)
Read My Books for Free: Free Kindle Books Schedule also on Kindle Unlimited Join me on the best app for Crypto- Voyager
Follow us on our Facebook Page (here). Join our Facebook group (here)
20 Books that Will Make You Rich (here) part 2 (here)
Want to Build Passive Income from Books and Affiliate Marketing? (Learn here)
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.
Leave a Reply