June 16, 2024

New knowledge base

Look In The Business

Earning Income While You Sleep

I am honestly not entirely sure what to say to folks that ask me how they can quit their job and make a living form home. It is a loaded question: The answer I often give them is not always what they want to hear.

The question about working from home is really tied within the goal of working less and making more money. The idea of most people is to stop working and start earning. Unfortunately, I usually focus on keeping your day job while you begin to earn and create your passive income.

It is possible to earn income while you keep your day job, the challenge is to stay focused on one action at a time and be consistent before you begin to move on to a totally different money making path.

If you work to understand and apply what is currently being taught by experts, you will see that it is often a life changing event that requires a new form of thinking. Even if you don’t achieve the ideological goal of earning 1 million dollars a year, you can create a lifestyle that you can be quite comfortable earning $5,000 a month. Let me put it another way, 95% of the world population would consider earning $5,000 a month in passive income being wealthy.

When starting down this path to learn how to create a new form of earning revenue, you will deal with many distractions and overall negative aspects of your life (both professional and personal) that will be switched off, and you will live a better, more fulfilling life.

Every time I meet an entrepreneur they always seem to be convinced that the only way to make money in business is to hit a home run, open a storefront or a giant corporation, hire staff, etc. That way of thinking is archaic and does not fit the new future forward thinking of the new wave of entrepreneurs arising in the market place today.

The Holy Gail of sorts is the new way of thinking, the valuable treasure that has been presented to us in terms of using your resources and harnessing them. If you have a job currently, consider yourself lucky. Use this to your advantage in building your income empire. When I first started down my income path, I felt like I had just been given and granted access to an extremely valuable treasure.

I wasn’t sure if I should spread the word immediately, or just heed the advice and start working on myself. I did both, but of course, people get annoyed when you try and evangelize “how to create passive income while keeping your day job” Sometimes, people really don’t want to bother or they don’t believe you. I sometimes think they don’t want you to succeed as this would be a reminder of how they are not succeeding themselves.

There’s also problem with the phrase “self-help.” Whenever we read nonfiction, isn’t everything technically self-help? What is the purpose of us reading a book? We’re all out there to learn something and unless it’s a fiction book which is just for enjoyment, typically even reading a biography of Benjamin Franklin you’re looking for some sort of insight and wisdom from somebody that has done something great. From this perspective, Aristotle and Plato and Seneca are all self-help. Sure, there is a lot of fluffy self-help where people are just trying to sell their products. But it’s important to keep in mind that the category stretches far beyond what most people think.

A lot of the things I had started to get interested in a few years ago, for example taking supplements to increase my focus at work, or being more productive, or learning a new skill, or creating it a plan to make a side business.

Now, can somebody really make a living online? If you think the answer is no, then you don’t know very much about the internet. Let’s pick a simple example, writing a e-book. The economies of scale on an e-book are amazing, because you only have to write it once. From there you can make royalties on a daily basis while you are literally sleeping. There are million ways to create passive income, and once set up properly maybe only need to work one hour or five hours or 10 hours… or no hours per week.