Start Developing Passive Income Opportunities
I have and it’s a sure sign that it’s time to move onto something different or maybe you need to start developing some passive income opportunities.
Usually ‘different’ for me manifests itself by finding a new job, but again from experience I can tell you this doesn’t solve the problem, it only defers it.
Instead, perhaps you need to look a little deeper to find the root cause of your unsatisfaction, before moving forward.
Try asking yourself this question – ‘If I had enough money would I keep working here?’
If the answer is ‘Yes’ then congratulations as you are in the small minority and should continue to enjoy work life and everything it has to offer including a steady income.
However, if your answer is ‘No’ then what would you be doing instead?
Keep in mind that we all need to be working on something, to feel we aren’t wasting this life. So sitting on the couch watching TV all day isn’t really an option as it wouldn’t be long before you became morbidly obese through the constant snacking and lack of exercise.
You see it’s likely money is the only thing keeping you at that job you hate, and we all need money to live so we put up with working until our lottery numbers come in. Of course statistically speaking you’ve got more chance of being run over by a car than you have of winning the lottery.
I’m just saying…
However, money no longer needs to come from the job you hate. The Internet now makes it possible to do work you love and be rewarded for it.
And keep in mind I haven’t figured out how to take ‘work’ out of the equation yet despite claims that passive income should be your ultimate goal. Nonetheless, you should start developing passive income opportunities before you leave the wheel.
However, passive income is only ever derived from hard work and even when you’ve think you’ve made it, you’ve still got to maintain whatever it is making you that ‘passive income’. There are no free lunches in this world.
So rather than passive income, I’m working towards less active income.
Yes, I’m working to achieve the ultimate dream of ‘making money while I sleep’ and thanks to the Internet this is actually possible.
You see when you create evergreen content, that has worldwide appeal, the world continues to consume it even when you’re asleep. And if you’ve found a way to monetize this content, money actually continues to trickle in.
And the more quality content you produce the bigger the trickle of money.
I spent the first year outside of the wheel building up a number blogs to generate an income stream and this year, I’m focussing more on making money with YouTube. (The blogs are now in maintenance mode unless they are directly attached to my YouTube Channels)
YouTube is like having access to your own TV station, and the ads that play during your content are redistributed back to you, minus a 45% YouTube cut of course.
And with over 100 million hours of Youtube being consumed every day the potential to capture a small amount of that traffic is a real opportunity.
So a bigger audience and better content simply translates into more income. Of course building a YouTube audience takes time so it’s hardly a passive income to begin with.
However, when your ball is rolling the maintenance on your YouTube Channel is minimal and may only require a few hours a week to maintain. Perhaps what Tim Ferris wrote about in the ‘Four-Hour Work Week’ is true when you apply it to the YouTube model. And keep in mind he wrote this book before YouTube was even popular.
So the next time you wake up feeling like you can’t face work, take a mental health day and start working on something that will help you to earn a little extra money like a YouTube Channel or a blog.
And eventually, you might be able to do that ‘thing’ you’d do if you had enough money to stop working in a job you hate.
All journeys begin with a single step.