In fact, the only guarantee that I can give you is that you’ll never ever make any life changing money working your day job. And this I can say with near certainty unless you have equity in your company.
Here’s a rough breakdown of different business models depending on time frame and scalability.
For example, early on in my online career, I did quite a bit of Craigslist/Ebay arbitrage.
Once again, I wanted the business model to veer more towards passive income. So I ended up launching a video based membership site. Customers would pay a set fee and receive access to a library of videos and course materials.
It’s true. Making money with a successful blog is difficult. But then again, so is starting an online store. So is running any profitable business especially if you don’t know what you are doing. But that doesn’t mean that you shouldn’t give it a try.
Because our online store already made plenty of money, I decided to create MyWifeQuitHerJob.com with a 5 year plan to profitability. At the time, I didn’t really care how long it took for my blog to make significant money.
In fact, creating anything of consequence is never quick and easy. It’s a gradual ascent that takes both time and effort.
Finally, we decided to open an online store because it didn’t require a large startup cost. We figured “what the heck?”. If we fail, we’d only lose 600 bucks and the rest is history.
Just because a business model is hard doesn’t mean you shouldn’t give it try. It really depends on what your income goals are.
My Thoughts On Making Money And Planting Money Seeds A little while ago, I published a post on how to start a blog and why blogging can be better than ecommerce. Now normally, I tend to focus
I find that through gamification – i.e. making more calls, applying to more jobs, writing more articles, etc., I see that I am actively planting money seeds. Those money seeds might not yet be sprouting above ground, but the roots are being laid.
Quick caveat: your idea has to be viable and executable. If no one is willing to pay you for your service, or if you want to begin teleporting people around space without the technology in place, then I would say you do not have a money seed, but rather a dream.
Simply put, you have to believe, then put into practice radical action, in your path towards planting and building your money seeds.
- Applying for new jobs
- Calling on clients for a consulting gig
- Running a blog
- Investing in Stocks
- Writing a Book
It is quite the journey which requires ultimate perseverance, and thus far it has been wildly entertaining to undertake this path.
I believe that in writing this book, I needed to have the ultimate planting mindset available. To write something, without knowing whether or not it will pay off in the end, is one of the toughest things to do.
The thing that I really like about adopting the money seeds mindset is that it helps me correlate each action with the end result.
A few examples of these passive income generation machines are dividend stocks, real estate, a business that sustains itself, etc. The list can go on and is only limited by our imagination.
I see each post that I write as a form of money seed – a thing that will help lend credence to my site and help drive traffic, which will increase my revenues.
In Planting Money Seeds, you are well on your way to Financial Freedom. The key is to dream, plant, water, and watch your money seeds grow!