This man generate $160,000 every month as passive income by working only 5 hours a week now. How has he managed to accomplish so much in such a short period of time. Well, that’s his efficacy: it takes less time to generate that much revenue.
Let’s see how he makes $160,000 every month.
To know that, we need to understand what made him arrive here. During the recession of 2009, he was laid off from his job. It was quite difficult to get a job at that time. This is when he thought of starting a freelance career and started taking up gigs; along with this, he started his music blog too for a side income.
This changed everything in his life. Now, he works for just 5 hours a week to generate this amazing $160,000 monthly income. His source of income is blogging and business coaching.
Now how can you make this much every month without spending $0
According to him, one of the most rewarding things about his work is teaching people how to use simple online tools efficiently. He also teaches them how to earn money from passive income. Here are 3 types of businesses he’s working on that you can start with $0 investment:
Consider something your friends or relatives often ask you for advice on? If there’s something, improve that skill or knowledge because this will pay you in your consulting business.
He stated that one of my clients teaches people how to fix motorcycles at home. Another makes recordings of the pronunciation of English words for native Japanese speakers.
As you can see, this is how you analyze what you know better. You start teaching people, and the key to reaching out to your existing network is one-to-one coaching sessions for (a group of people) who struggle with (b concerns) and want to achieve (c results).
Offer personalized online meetings via calls or video calls, give them solutions based on their pain points, tell them tips to excel in the skills you are teaching them.
As you get paid while sitting at home while the client learns the skills he wanted, this is a win-win scenario for both of you, since you get paid for your skills while sitting at home.
Once you work through various sessions with clients, you’ll learn the most common problems or pain points people have. Based on that create a curriculum or ebook for further income generation. Ask existing students for referrals, post their testimonials on social networks and generate more leads.
Whatever skills you are skilled at, be it a graphic designer, web developer or musician etc there are numerous websites offering gigs to freelancers. You can create a profile, add your services, and get leads on websites like Upwork, Fiver, Freelancer, etc.
Simple tips to get gigs:
Be specific about your services: To stand out among others simply mention the specific service you offer. There might be less competition for long-form YouTube video editers than for general ones.
Create custom proposals for every job posting:
Don’t copy paste the same proposals into similar job postings. Also, remember that while sending proposals don’t write “To Whom it May Concern”. Talk to them about their pain points and tell them how you can help solve their problems.
Don’t forget to ask questions at the end of your proposal:
In addition to showing them that you are planning ahead for the project, asking questions will give them a reason to connect with you. More conversations mean more chances of project conversion.
Connect with your old clients, friends and tell them about your new services via email while offering them a family or friend discount.
Check out this email format:
You can use this for email:
If you already haven’t heard, I’ve started a new business offering [X type of service] to [Y ideal type of client]. You came to mind as someone I’d love to work with.
Are you currently looking for help with [Z type of problem you solve]? If so, I’d love to jump on a call and hear what you’re trying to accomplish in the next year to see if I can help you achieve those goals.
I’d be happy to offer you some introductory prices. Let me know if you’re interested!
Become a Creator
As a creator, there are a number of ways to generate income, of which four major ways are mentioned here:
Revenue from ads
Revenue from Affiliate post
Brand offers and sponsored content
Selling digital products to your network
You should follow the same process here as you did in the consulting business. Create content on topics you know better and can help the audience with your knowledge. By being consistent with quality content your social media presence will improve gradually and become a strong network of yours with targeted followers base.
With today’s advanced features that help content be discovered, YouTube is the best platform for revenue generation.
The most exciting part: you don’t need thousands of followers to make a lot of money. He shares one of his clients who teaches pastors how to preach better sermons earns more than $150,000 a year with only 7000 subscribers. Imagine how much you can generate from it.
Staying unique to yourself is more rewarding than copying someone else, since people love you for who you are. You must learn from other videos and develop your own unique style and create your own loyal audience.
If you find this artcile worth reading and learning, then don’t forget to share with your friends and people who wants to start their passive income.