What’s up Guys!
If you’re a loyal reader you may have noticed I took a break from posting recently. I was traveling for a while and then I got sick. Nothing major, just a bit of food poisoning. But man… When you are shitting and puking your guts out for two days it really takes a lot out of you. 🙁
For a week I felt like complete shit and just stayed in bed. Even after I got the evil poison out of my system I still had body aches, cold sweats and my head was pounding.
I only opened my laptop a few times that whole week. I didn’t do a single bit of work. And guess what… I made money! 😀
When I checked on my online businesses, I was happy to see they were still bringing in money without me banging on my keyboard. Pretty cool huh? This is the power of passive income. We should all strive to create passive income streams!
Passive Income = Financial Freedom!
There are countless ways to make money online. You can read this post to find out How I Make Money Online. I’m not saying you have to do what I do. But you should build your own money tree that continues to deposit cash into your bank account each month.
How would your life change if you made an extra $1,000 per month passive? That’s a nice new car payment / insurance each month. Maybe stash that for retirement? Or take that cash to Pattaya for a wild holiday? A daily soapy massage is good for your health! 😀
Creating a passive income stream is not only fun, it’s responsible. What if something happens to you? What if you get sick or injured and you can’t work?
I don’t know about you, but I’d be FUCKED! I’m out here on my own. No family, no insurance, nothing. Seeing that cash come into my account each month is a damn good feeling.
Tips For Building Passive Income Online
1. Start Small
I remember when I started my first website. I slapped up some affiliate links and started driving traffic. Finally I got a sales commission for $25! It may not seem like a lot, but I was really excited. It was the moment I realized that this is possible! I was instantly motivated to continue with this business model.
If you can make $1 online, that can usually be scaled up to $10, then $100, $1,000 and so on! Really the sky is the limit. That’s why I love the internet. EVERYONE is online so you don’t have to rely on selling products or services to people in your own little town. Think global.
Experiment with some different businesses. See what works for you. Focus on making your first sale and and then grind on that business until you are bringing in thousands of dollars every month.
2. Think Long Term
This will take time. I wouldn’t quit the day job just yet. Don’t expect to make thousands of dollars your first month… Well, maybe you’re smarter then me. It’s possible.
But really, it took me a few years of fucking around until I was making a decent passive income online. I’m still nowhere near where I want to be. But yes, I can live in Thailand, Vietnam or Cambodia with the money I make online. If I can do it then you can too!
Be patient. Find your niche and spend time working on it a little bit each day. Consider it an investment in your future.
3. Start Now!
You know the old saying, when is the best time to plant a tree? Ten years ago. When is the next best time? NOW! Every day you procrastinate you are leaving money on the table. Choose a strategy to make money online and get busy! Eventually you can ditch the 9-5 and head to paradise…
Here are three excellent books about creating wealth. I consider these must reads for anyone interested in being financially free. Please buy these books through my Amazon links to support Single Man’s Paradise! 😀
The Millionaire Fast Lane by MJ DeMarco. MJ is the man. This book has great information on starting the “right” kind of business. Please, don’t buy a bar. We want to be fastlane! Less work, more money.
The Four Hour Work Week by Tim Ferriss. This is a cult classic and many consider it to be the digital nomads bible. Lot’s of great ideas and I also found it very motivational. Learn how to build a small business and outsource a lot of the labor intensive tasks. This book motivated me to stop being a little BITCH and quit my job! I’ve been in Asia ever since. 😀
Think and Grow Rich by Napoleon Hill. Another classic. Even if you’ve read it, read it again. Rich and poor is a state of mind. You need to get your mind right before you start on this journey. Your thoughts become your reality.
I’m currently building a business by selling eBooks. I highly recommend Kindle Money Mastery by Stefan Pylarinos. It’s a very good course about publishing ebooks and the strategy works! I’m working on cranking out the eBooks on Amazon until I have a nice passive income each month. If you’re interested in this strategy as well, then check out that course. It’s video lessons as well as PDFs and he offers a thirty day money back guarantee.
I wish you all luck. We all want to live it up in paradise, but the fact is we need to focus on being successful at the same time. A lot of young guys move out here and just scrape by financially while they party their ass off… Have fun, but also use your “power years” to create a solid business and save some cash. We all get old some day.
“Set your mind on a definite goal and observe how quickly the world stands aside to let you pass.”
― Napoleon Hill, Think and Grow Rich