“If I knew then what I know now I would have…… (fill in the blanks)”…
I’ll fill in the blanks on my end… If I knew then what I know now I would have taken blogging seriously, and would have kept it as a focus over the years.
However, as a result of what I know now…. I’m going back to the beginning and I’m starting from scratch, with a goal of leveraging my blog more to build an additional 5 Figure Per Month Business Online through blogging, and I’m letting you in on this little experiment to see if it works.. (or not)……
Follow me, I’ll explain below…
You might be thinking “huh, what are you talking about?”….
Back when I first got started online, I came across a lot of different bloggers, but one in particular by the name of Pat Flynn, whom I loved his business model, caught my attention. What he did was he had a goal to develop passive income and he basically began to try different things to see what worked and what didn’t.
As he tried different things, he’d put it out there and started sharing what his results were, while helping to explain and enlighten others on the process of what worked, what didn’t and lessons he learned.
What was so cool is I began following him when he had just gotten started. Around the time when I began to follow him was probably around 2009-2010. I think I was introduced to him in 2008, but really began to pay attention to him in 2009 and 2010.
During this time, what I noticed about him was that he would take the time out to put his all into a project with a goal of creating passive income streams. Although there were a lot of different things that other people were doing, he would just choose a project and he would invest his time into that thing and build it all the way out.
Over the course of time, he began to share his results. One of the most important results that he shared was his income results. What really blew my mind is that I had a chance to witness this man go from making $8,000 a month – which is a pretty good income – to $20,000, $30,000 and I began to see him climb up to $50,000 and now over the years, now generating over $100,000 per month of passive income. (You can see proof here at www.SmartPassiveIncome.com)
Check out where he was in October 2008, to where he is now:
OMG… can we say BIG DIFFERENCE….. WOW….
Just by watching him, I knew I wanted that business model. I knew I wanted to find a way to truly leverage the internet to build online assets.
But here is the challenge to this – the reality is that it requires a couple of things: it requires time, it requires a heck of a lot of focus and it requires for you to be patient with the process.
The reason why is because these things don’t give you overnight success. They take time to build and they grow gradually (with your consistent effort). So this means that you won’t just hop right in and cash in like a lottery winner. But instead, if you devote the time, remain consistent and do the work, it can truly pay off… and this time, I’m ready for it!
LESSONS I LEARNED FROM PAT FLYNN ABOUT BUILDING PASSIVE INCOME THROUGH BLOGGING
#1: FOCUS: If there is one thing I can say about Pat, (by watching him over the years from a distance), it’s that HE IS FOCUSED! He’s very clear on what He wants to accomplish and that means that no matter WHAT EVERYONE ELSE IS DOING, He always stays in His lane and focuses on His tasks at hand….
Yeah… remember that statement?? ===>> “Stay in your lane”…. For me, this means that I personally need to stop looking at what everyone else is doing and put my head down to do what it is that I desire to do! Otherwise, I’ll end up on the “shiny object escapade” where I’m always chasing a new deal, with nothing solid that I’ve built upon for the long term…
No Way… FOCUS is my Focus… lol
#2: BE CONSISTENT: In order to produce long term results, YOU MUST BE CONSISTENT… When I listen to Pat, he has very rarely missed a Podcast, Blog Post or the likes, and when he did, even he remembers them because His audience sent reminder emails for him to get back on his job of delivering powerful content…
What this means is that time management is critical, and hiring help becomes a must when it becomes feasible. With this type of business model, there is a lot of attention to detail required like in writing blog posts, creating giveaways, putting different campaigns together, so it all has to make sense and be doable within a reasonable amount of time, but it must be done!
#3: BUILD IT ALL THE WAY THROUGH & FINISH WHAT YOU START BEFORE JUMPING TO THE NEXT PROJECT
If there’s one thing I can say about Pat, He stuck projects out and saw them through to the end. I’ve seen him take his time building out projects like the foodtruckr website, his podcast, his free apps, and so much more. And what I can say is, he put his all into the projects he created (some never were launched), and in the end it paid off.
I know for a fact that this is an area that we MUST work on and focus on building out. With blogging, we want to believe that you write 2 or 3 posts and then THE MAGIC HAPPENS… but that’s sooo not real!
The real way that it works is, you treat it like a business and take your time building out quality content and following the process and over time, you’ll experience success.
There is a necessary BUSINESS MODEL that you MUST put in place to ensure that you can generate an income, which I’ll talk about in my blogging training, but you MUST be patient with the process and see it all the way through.
#4: DO IT RIGHT!
I can’t tell you how many times I’ve personally tried to short cut the process and AVOIDED TAKING THE TIME TO DO IT RIGHT….
Let me warn you before you even get started…. SHORTCUTS DON’T WORK…
If you’re seriously wanting to generate any level of income online YOU MUST TAKE THE TIME OUT TO DO THINGS RIGHT!
As I shared earlier, I’m starting from scratch, and although I could look back and say, shoulda coulda woulda.. I won’ta… cause I know this go round, I understand why I MUST INVEST IN THE PROCESS (you’ll notice I say this a lot in this post)….
#5: INVEST NOW AND YOU CAN EARN BIG LATER
The challenge with those wanting to generate online income is this, MOST PEOPLE WANT SUCCESS OVERNIGHT.
Unfortunately, that’s just not going to happen. Building a business online still requires you to BUILD A BUSINESS. What this means is that you have to TREAT IT LIKE A BUSINESS.
I can’t stress how beneficial it is to take the time to invest on the front end to successfully build your business. Over the next few weeks, You’ll see me highlight people who did just that, and you’ll see the REWARDS they’re able to reap, because they kept the mentality of INVEST NOW AND EARN BIG LATER… (Just take a look at Pat’s Income… how would you like to go from $8k per month to $150K??…. ).. Now you see what I mean???
LET’S GET REAL….
I’ve tried a lot of things since I’ve started online and I’ve become very very clear of my Do’s and Don’ts….
- Don’t want to be hustling for money from deal to deal
- Don’t want to chase money and compromise my lifestlye in the name of earning a buck
- Don’t want to be on the phones all day
- Don’t want to be building a business around a hope, guess and wish strategy
- Don’t want to keep chasing short term money and quick income fixes
- Don’t want my income dependent upon other peoples actions and whether they feel like working today or not
- Want time freedom
- Want to be fully available for my family
- Want control over my life
- Want a high quality of life which means, doing the things that make me happy which are spending time with my family, traveling and investing time in the projects that excite me
- Want to determine with whom and how I work with others
- Want to build a long term plan for consistent income
- Want to Develop online assets
- Want to Have the work I do today, matter 3, 5 and 10 years from now….
I don’t want to be that person that has to hustle for my money ALL THE TIME, and always on the grind, always on the phone, and always having to do laborious-based things to keep my income coming in.
At the end of the day, that’s not really passive income, that’s considered a job. And we have to be very careful that when we call ourselves “entrepreneurs,” we understand the difference between giving yourself a job through being self-employed or truly positioning yourself to be a business owner where you have passive income streams coming in.
The Cash Flow Quadrant Taught us this….
And my goal is to get away from the Self-Employed Quadrant to the Business Owner Quadrant…
I’m willing to work for a period of time, but I’d prefer to invest my time, energy and effort into those things that will produce results over the long run, rather than living my life in hustle mode!
FYI, Passive Income doesn’t mean you don’t work EVER, but what it does mean is that by working on the RIGHT PROJECTS, you can benefit financially, over and over again in the long run, like Pat Flynn has.
As I’ve watched this man over the years, he has continuously inspired me. He has always helped me to stay grounded and be reminded of why I even started internet marketing in the first place.
The reality is, this is something that I’ve desired to do since 2010 but never took the time out to do it. So now I’m going back to the beginning, and starting from scratch, and you get to witness it all, from Day 1, as I will be extremely transparent about this process and share it with you so that you can see what I’m doing and how I’m doing it step by step.
The Profit Strategy
My first goal is to develop consistent/predictable income or to match my residual income in my network marketing business. The reason why is because I want to build a business where I’m not relying on just one source of income, but I’m actually leveraging my knowledge, my skills, my talent and positioning myself to have online assets that is going to create passive income streams.
Although I currently have multiple income streams, I realize that they’re scattered all over the place and have very little congruency, so using my blog as the main hub for all businesses and income sources is the goal.
So with My first goal being to generate consistent/predictable income, I have a goal within the next 3 months to leverage my blog for my business to generate between $3,000-$5,000 per week. We would say roughly between $12,000-$20,000 a month. But my goal is $20,000 a month minimum. $5,000 a week and $20,000 a month minimum.
*** NOTE: please keep in mind that this goal is pretty lofty for a blog “starting out” but I’ve been online for nearly 8 years, and have established a presence which opens the doors of opportunity for me to pull the trigger on income generating activities a lot faster than the average person just getting started. ***
That’s my first goal in these first few months (2nd quarter of 2016… April – June). Initially, my goal was to get my blog up to $10,000 I believe I said a month to be able to make that happen, but I’m doing things a little differently and I am not just relying 100% on the blog, but I’m also doing some other things that will support that income and position me to make that happen.
So goal #1, make $5,000 a week consistently in passive income by June 30th, 2016.
The question is: how do you do it?
Before I get into this, I need to address some practical insight about MAKING MONEY BLOGGING so that I can give you REAL PRACTICAL ADVICE….
- Tip #1: This is a business model that requires you treating it like a business if you really want to generate income… I know the title is super catchy, but I want you to understand that time, energy, attention and very intentional actions are required to really reach this level of income
- Tip #2: This is an unusual expectation for income for a newbie. But I’ve been around the block for around 8 years, so I’m coming in with a full list of over 17,000 people, a following on social media of nearly 40,000 people and a lot of years of insight and experience under my belt to really support this expectation..
- I’m already generating this income outside of blogging, which is why I’m starting pretty high with this strategy. I’m not saying you can’t do the same because you can. What I want you to know is that it’s not a fly by night deal.. it’s a business model that I’m treating like a real business. I share more of that with you in the Content Cashflow Club~
Income Source #1: Affiliate Programs
One of the core things about blogging and especially blogging for profits is that you want to position yourself where you have specific affiliate programs that you promote and that you endorse that bring you consistent income.
There’s always going to be some core things that you need when you get started on this journey and I usually like to use the core programs I use, support and I endorse and not things that are just going to make me money. But instead, I want to promote things that I personally use myself or am very familiar with, feel confident in their products and the quality of how they work as it relates to customer experience.
So what I’ve done is I’ve mapped out my top 10 products that I feel everyone can use.
It’s like your autoresponders, your lead capture page, some themes that you can use for your blog, and other tools that we use often as online entrepreneurs, those are the core products that I’m leveraging for my Affiliate Marketing.
I’m now creating intensive courses that are free, that I’m going to put out there in different places for people to learn more about how to leverage these different tools and in return, they’re going to click the button and I get paid every time they click the button.
My goal is to build this up where it becomes a resource of value, but also at the same time, I get compensated for it as a result of me referring others to these resources.
That’s the first thing that I did, was identify the different programs and products that I want to partner with to create income.
** Affiliate Programs are not “INSTANT CASH MACHINES” so if you’re following this with creating your plan for doing the same, know that like anything else, this process takes time. I’ve been apart of multiple affiliate programs for years, so this will be a lot different for me than it would for someone just getting started online.**
Income Source #2: Info Products
The second strategy for this is I have my own info products, I have my own core things that I’ve created and that’s support material for different people wanting to build their online businesses or leveraging the internet to build their businesses.
I’ve put a few courses together and I’m constantly building on them as I’m creating different funnels, processes, sequences, and content that I’m putting out there that is going to be able to help drive consistent traffic to the site and the offer.
Income Source #3: “Look Over My Shoulder Access”
So often, people reach out to me to ask me what tools to use to do certain things, what they can do to get started with building their businesses online and how can they begin making money online.
Due to the amount of requests that I get, I’ve decided to set up a Content Cashflow Club where I share EVERYTHING THAT I’M DOING and give you FULL ACCESS to take a look over my shoulder, pick my brain and see EXACTLY what I’m doing to develop the income I’m developing. Click here to be part of the club.
For those who want in, and to get this level of access, this will be their chance to get an up close and personal look over my shoulder to see exactly what it is that I’m doing, and how they can do the same to create Leveraged Passive Income online as well.
These three core ways are exactly what I’m implementing to generate my consistent $5,000 per week passive income stream.
There are additional ways I’ll be generating income, as I’m currently doing now, but I wouldn’t necessarily call these Passive Income. They are:
Income Source #4: Network Marketing
Income Source #5: Coaching / Consulting
Additional Income Sources I’m also currently pursuing:
Income Source #6: Ecommerce sites
Income Source #7: Kindle Publishing
But I really want to share #1 – 3 as these are 3 core ways that I’m leveraging my blog to begin positioning myself for the $20K per month Passive Income Strategy.
Now this may seem low to some and high to others, but this is my start-up goal that I’ve chosen “FOR THE BLOG” based on the amount of time I’ve been online, the knowledge I have and the audience I have.
There’s a lot of other things that I could be doing out there, but my thing is I know how I want to work and what it is that I want to do, and I am okay with developing the next 12 months of my time focusing on this strategy to make sure that I ultimately reach my goal of generating at least $40,000 to $50,000 a month of passive income.
I’m witnessing far too many people do it, and although I’ve earned this level of income in one month a few times, It came with a working style that at this stage in the game, I prefer to not do if I don’t have to, and that’s hustling hard, traveling all over the country and the world, in the name of making money…. Just not my deal in this season of my life!
WHAT DO I MEAN BY PASSIVE
The reason why I say passive is because there’s a lot of people that do a lot of different things and make a heck of a lot of money. But it comes and it goes. I want something that’s consistent over time and I want to build it brick by brick on a solid foundation and I’m willing to endure the process to make that happen.
My goal by the end of the year is to generate $50,000 a month of passive income. I’m going to have other income streams, but passive income being generated through my blog and some of my online assets of $50,000 is my core goal.
Sounds insanely lofty doesn’t it? But guess what, you’ll get to have full view as to what we do and how we do it to reach this goal.
In my Content Cashflow Club, you’ll be able to learn more about this and how I’m mapping it all out, so you can see exactly what core strategies I’m putting in place and how I’m making it happen.
Whewww… that was a lot, but this will be both an interesting, exciting, insightful and nail biting journey….
You may think I’m insane for sharing this, but hey, my goal is to show what’s possible, so stay plugged in, and we shall see how it all manifests as we move along!
Here’s the update on our upcoming blog posts:
- Monthly Income Report Roundups: want to see real people earning real income blogging? Stay tuned, I’ll continue to share insight with you from those that are REALLY DOING WHAT I DISCUSSED ABOVE…
- 10 Ways To Generate Income Blogging: want to know all the ways you can make money blogging and a few resources that will guide you in doing so? I’ll be sharing that in an upcoming post!
- Blogging Profits Blueprint: Need the full run down on how to start a blog? I’m working on it now, so stay tuned, coming soon!
Stay tuned for the next blog post and share your comments below….