Recently I made it my No 1 priority to achieve financial freedom and as evident from the title, freedom to wake up when I want and live my life on my terms.
Trying to test my business ideas, I have already had a couple of disappointments but I expect a lot more to come, nothing worth gaining ever comes easily.
I am starting a new thread to monitor key stages in my development as I have found this to help a lot with accountability and hopefully get some good advice as well.
My goal is to eventually grow my side-business income (currently 0) to match my current job income (~24K / year).
At this point I am going to quit and focus my effort and use my time in order to really pimp the side businesses and grow my monthly income to my target number.
Major mindset sticking point right now:
I am used to a certain lifestyle, which is not luxurious by any means, but allows me to live comfortably and have peace of mind in things that matter to me.
I keep thinking that I need to downgrade my lifestyle so I can save money to invest in side projects and in order to light a fire under my a$$ that will force me to hustle even more. Needless to say, there is extreme inner resistance making that decision as I truly believe it will make me unhappy for quite some time before I have my breakthrough.
#Project No 1 - Information product
This is my project that I want to be completely divorced from my time after I have set it up properly. Doesn't matter if it makes a lot of money, as long as that money comes in fully automated even when I sleep.
To this end, I have written a short ebook in which I share my hard earned advice to aspiring grad students. I had to really hustle a couple of years back to discover on my own what works and what doesn't, so I truly believe there is great value in my ebook.
So I built a landing page, and drove some traffic to test if there is potential for profit. After only a few days it was apparent that the cost of driving traffic far exceeds any profit that I can make.
Therefore this idea was abandoned. I will have to sell this ebook only with organic traffic, or really low cost promotion.
Potential avenues:
Experimenting with e-mail lists and blogging I keep finding that you need to include your personal details.
Since I am not a registered business, I only have my home address to work with.
It could be just mental bullshit but I am just not comfortable handing over my living address to the world wide web. At least not yet.
I am still working on getting around that and reading on the subject.
Things that I learned in the process:
Project #2 will follow in the next post.
Trying to test my business ideas, I have already had a couple of disappointments but I expect a lot more to come, nothing worth gaining ever comes easily.
I am starting a new thread to monitor key stages in my development as I have found this to help a lot with accountability and hopefully get some good advice as well.
My goal is to eventually grow my side-business income (currently 0) to match my current job income (~24K / year).
At this point I am going to quit and focus my effort and use my time in order to really pimp the side businesses and grow my monthly income to my target number.
Major mindset sticking point right now:
I am used to a certain lifestyle, which is not luxurious by any means, but allows me to live comfortably and have peace of mind in things that matter to me.
I keep thinking that I need to downgrade my lifestyle so I can save money to invest in side projects and in order to light a fire under my a$$ that will force me to hustle even more. Needless to say, there is extreme inner resistance making that decision as I truly believe it will make me unhappy for quite some time before I have my breakthrough.
#Project No 1 - Information product
This is my project that I want to be completely divorced from my time after I have set it up properly. Doesn't matter if it makes a lot of money, as long as that money comes in fully automated even when I sleep.
To this end, I have written a short ebook in which I share my hard earned advice to aspiring grad students. I had to really hustle a couple of years back to discover on my own what works and what doesn't, so I truly believe there is great value in my ebook.
So I built a landing page, and drove some traffic to test if there is potential for profit. After only a few days it was apparent that the cost of driving traffic far exceeds any profit that I can make.
Therefore this idea was abandoned. I will have to sell this ebook only with organic traffic, or really low cost promotion.
Potential avenues:
- Just self publish it on Amazon, drive some traffic initially and do giveaways for reviews hoping that it will catch on. I am not that fond of this way since I will have limited control.
- Start a blog, write articles consistently and offer a part of the ebook for free in exchange for email signup. After some time I expect to have built a substantial email list. Then I should be able to sell the ebook to the list, or even sell a more premium service or membership if I decide to do so.
Experimenting with e-mail lists and blogging I keep finding that you need to include your personal details.
Since I am not a registered business, I only have my home address to work with.
It could be just mental bullshit but I am just not comfortable handing over my living address to the world wide web. At least not yet.
I am still working on getting around that and reading on the subject.
Things that I learned in the process:
- Learned how to build a landing page from scratch
- Had my first attempt at writing sales copy
- Learned how to use paid advertising and faced the reality of expensive traffic.
- Got some experience with wordpress and getting your ideas out to the world.
Project #2 will follow in the next post.
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