This is something a little different…So far, I’ve published 20 monthly income reports, and 1 annual income report. However, I’ve never posted anything in detail about my expenses, until today.
I don’t know exactly why I have never included them in my reports. Maybe it’s because when I first started doing these reports there were virtually no expenses to take into account. That being said, I do know that many of you are curious to see what a typical month looks like, so here it is.
The following is my expense report for June of 2010.
Virtual Assistants, or “VAs” for short, are helping people get more things done each and every day. If you’ve read the 4-Hour Work Week, then you know that Mr. Timothy Ferriss is a huge fan of using VAs for all of the clutter and “the things that I don’t want to waste my time doing in my life” type of stuff. Like many internet marketers and other lifestyle design artists, I’m sure he has several full-time VAs working for him at this very moment.
I, on the other hand, don’t have any full-time VAs. I only hire providers and pay them on a per project basis. I’ll tell you why in a second, but there’s one thing I need to address first.
This is the second part to my two post series about starting an LLC. In part 1, I talked about the pros and cons of starting your own business. Part 2 will walk you through exactly what you need to know before you apply.
Here’s that disclaimer again: I am not a lawyer, CPA or any kind of professional. I simply share my own experiences about how I did things, and the actions you take based on what I say is not my responsibility. As always, you should seek advice from a trusted professional before making these types of decisions. Thanks!
Did you know that February is National Start a Business Month?
Neither did I.
But, in light of the fact, I decided it might be nice to do a detailed post of some of the benefits behind starting a company and exactly what it entails.
I am a small business owner myself. In fact, I’m the owner of two companies: Flynndustries, which is my company that heads the websites that I create (including this one), and LOLer Apps, which is my iPhone app company. Additionally, I just helped a friend start his own company the other day, so the process is still fresh in my mind. I just wanted to make sure I could share as much as I could remember with you today.
Creating multiple passive income streams is everyone’s dream. In order to make this happen, you have to understand exactly what the passive income business model looks like, which I’m going to share with you today. This is the business model that allows me to work just two hours a week, yet pull in a full time, CEO-sized income.
Before we get into it, I just wanted to mention that this isn’t the only business model out there. Obviously, there are a million things you can do online and offline to generate a decent income, but this is the business model that I choose to use because:
It’s relatively cheap and easy to setup…
It’s low risk (what have you got to lose?)…
After it’s setup properly, it runs on auto-pilot, which means you don’t have to be present in order to complete a transaction…
You can implement this business model “on the side” for an extra income in addition to your 9 to 5…
You can make money at any time of the day, from anywhere in the world…
It’s easy to implement tests and business strategies to try and improve results…
Once it gets going, you can try and duplicate your results in other markets and create multiple passive income streams…
If all goes well, you’ll have the freedom and time to do what ever it is you want.
Hmm…cheap, easy, low-risk and high-reward? Sounds like a winning business plan to me.
In the video below, I outline exactly how my passive income business model works. Also, for you beginners out there who may not have information products to sell just yet, I’ve included a Bonus Adsense Tip, which I used to quadruple my Adsense earnings, back before I was really focusing on information product creation.
I hope you’ve enjoyed the presentation. Please leave a comment for me below. I’d really appreciate it! Thanks!
P.S. If you liked this video, you can subscribe to The Smart Passive Income Blog on YouTube for more videos just like it! Check out my “4-minute blog”, a blog that I created in less than 4 minutes from scratch, including it’s first blog post with an embedded picture. Now you don’t have any excuse to not get started earning money online!
Part of my mission here at The Smart Passive Income Blog is to teach you not only how to succeed online, but also how not to make the same mistakes as me. I’m not happy when I’ve learned I made a mistake, but I am happy to share them with you.
Every businessperson and blogger will have their own stories, here are mine. I hope you find them useful.
I started this blog almost exactly one year ago. I was employed at that time and was planning on writing about how to make a decent side income while still working the 9 to 5, a job which I was actually enjoying despite 4 hours of travel each day (from San Diego to Irvine via train – yes, I was crazy).
I was making a few bucks on the side blogging about the LEED exam when I was hit with a layoff, like so many other people around the world. Instead of panicking or immediately searching for a new job, I took what I was doing somewhat successfully online and made it “what I do.” A year later, I can honestly say that my layoff was the best thing that has ever happened to me. I’ve been documenting what I’ve learned about internet business and passive income ever since on this blog for you.
I’ve recently noticed a lot of similarities between the Smart Passive Income Blog and my other blog before it became a cash cow. The website traffic is nearly the same, I’m ranking high in keywords that are important to the topic, the underlying purpose to help people is there, and also people are personally emailing me for help or advice nearly every day. All of these factors, in addition to possibly losing a major portion of my online income from my other blog due to recent changes in the industry, give me reason to take the Smart Passive Income brand to the next level.
That’s right! I’m looking for a publisher for an idea I have for a book, which I would love to turn into a series if all goes according to plan my dreams.
Although I’ve always stated that publishing an electronic book is the way to go (because of the fact that they are easy to create, easy to automate and very cost-effective), one of my life long goals is to see a book on the shelves of a major bookstore with my name on the front cover. With an idea in my head and my motivation levels high (as always), I think now is the time to start pursuing this goal.
I’m not going to tell you exactly what my idea is (I’m sorry!), but I can tell you it does involve the internet, social networking, and possibly you! Now I bet you’re really wondering what it is…but don’t worry, I will tell you eventually.
As you can see, the new Smart Passive Income Blog Design is live! I’m really happy with it, and so far, the response has been mostly positive. I think my VA did a great job of implementing ad spaces and a new updated look, while still keeping the feel of my old design. Here’s a comparison between the two:
For the next week or so, my posts will be shorter than usual. The reason is because I’m currently working on new material for the LEED exam, and it will take me quite a bit of time to get it produced. I want to get it done as soon as possible, because as I’ve stated before, “each day you don’t have something out there for sale is a day of potential profits lost”, and that is my motivation factor at the moment.
So if you could do me one favor, I would really appreciate it: just bear with my shorter posts, and leave me any words of encouragement. I’ve been typing for 16 hours in the last 2 days – so my brain hurts a little. Thanks everyone!
I hope you had a wonderful holiday weekend! Cheers!
No, I'm not a millionaire, but I am living off of passive income made online. I'm here to show you what I've learned...
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Listening to classical music while feeding by baby boy some oatmeal mixed with pears, apples and bananas. Now I'm hungry!about 20 hours agofrom TweetDeck
Doing some hard core mind mapping on the home office whiteboard wall.about 1 day agofrom TweetDeck
This is something a little different…So far, I’ve published 20 monthly income reports, and 1 annual income report. However, I’ve never posted anything in detail about my expenses, until today.
Virtual Assistants, or “VAs” for short, are helping people get more things done each and every day. If you’ve read the 4-Hour Work Week, then you know that Mr. Timothy Ferriss is a huge fan of using VAs for all of the clutter and “the things that I don’t want to waste my time doing in my life” type of stuff. Like many internet marketers and other lifestyle design artists, I’m sure he has several full-time VAs working for him at this very moment.
This is the second part to my two post series about starting an LLC. In part 1, I talked about the pros and cons of
Part of my mission here at The Smart Passive Income Blog is to teach you not only how to succeed online, but also how not to make the same mistakes as me. I’m not happy when I’ve learned I made a mistake, but I am happy to share them with you.
I started this blog almost exactly one year ago. I was employed at that time and was planning on writing about how to make a decent side income while still working the 9 to 5, a job which I was actually enjoying despite 4 hours of travel each day (from San Diego to Irvine via train – yes, I was crazy).
That’s right! I’m looking for a publisher for an idea I have for a book, which I would love to turn into a series if all goes according to 
No, I'm not a millionaire, but I am living off of passive income made online. I'm here to show 
Enter your name and email below to get Free Instant Access to the most comprehensive guide available on how to Publish, Market, and automate a killer eBook. 
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