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Stop trading your time for dollars...build ASSETS instead

by icoachu
19 replies
If you are tired of the monthly grind of having to chase freelance projects or consulting clients so you can pay your bills, you have to think LONG TERM. Look at the big picture...

Are you going to resign yourself to a life of NO WORK / NO PAY (ie., if you want to generate a fresh batch of dollars, you have to work for it) or do you want a BETTER LIFE?

What's the solution?

Build assets: Work once, make money many times over

The classic example of this is KINDLE

You can either do the research yourself or you can hire a Virtual Assistant to do it.

Regardless, you need to find hot niches on Kindle and write a series of books that would have a high chance of SELLING even a few copies daily - due solely to how hot their niche is.

You don't even have to write the materials yourself. You can outsource these.

What's important is you create at ASSET that will continue to produce income LONG AFTER you put in the work or investment in creating the asset.

Another example is a content marketing network that leads to a squeeze page.

There are tons of other passive income asset building strategies you can follow...

One thing is clear: if you want to start making progress, start laying the bricks of your digital ASSET empire NOW. You don't have to quit your job or your freelance projects. Start by devoting one hour per day on ASSET building.
#assets #dollarsbuild #stop #time #trading
  • Profile picture of the author TobinBell
    This is a truly valuable advice,icoachu! I truly believe in what you just wrote. I might actually start on creating ebooks on a number of different topics.I have been thinking about it for a while now,because I truly want to do more than just chase Freelance projects. I do not really have to chase projects that hard these days(return customers) but your point is truly valid. I believe the key is in creating value that people could benefit from.If they have something to gain from the things you offer,you can become successful and financially covered for years to come.Thanks.This thread was enlightening.

    Cheers
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  • Profile picture of the author SteveSki
    Absolutely spot on....

    Profits are better than wages.

    Royalty Income is better than wages.

    Passive Residual Income is far better than wages.

    So get busy creating ebooks, software and courses to sell or
    become an affiliate or reseller of in demand products and invest
    your profits and time wisely.

    Cheers
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  • Profile picture of the author icoachu
    Thanks, Steve and Tobin. The reality is that, for most people, J.O.B means JUST OVER BROKE.
    Unless you are top level management, it's hard to become wealthy with a job.

    Focus on building assets instead.
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  • Profile picture of the author Luke McCormack
    Very good post. Applies not only to the Kindle book creation but to pretty much every IM model. The Key is passive income. I spent far too long creating websites, linkbuilding etc. which in the end only amounted to another job i.e. serious hours for below minimum wage!

    Best Luke
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    • Profile picture of the author icoachu
      Originally Posted by Luke McCormack View Post

      Very good post. Applies not only to the Kindle book creation but to pretty much every IM model. The Key is passive income. I spent far too long creating websites, linkbuilding etc. which in the end only amounted to another job i.e. serious hours for below minimum wage!

      Best Luke
      Not all IM models are conducive to passive income though. Anything that requires frequent updates or networking to 'replenish' traffic isn't exactly passive.

      Passive income is crucial because with a JOB, you keep working for every DOLLAR you get. You don't work, the dollars stop coming.

      With passive income, you WORK ONCE, the dollars keep coming.

      It really is that simple.
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  • Profile picture of the author Joan Altz
    Good post. I enjoy working, but having several assets built up at this point in my life means I don't have to grind it out to make a living. I get to work when I want. Best position to be in without a doubt.
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  • Profile picture of the author Miguelito203
    Originally Posted by icoachu View Post

    If you are tired of the monthly grind of having to chase freelance projects or consulting clients so you can pay your bills, you have to think LONG TERM. Look at the big picture...

    Are you going to resign yourself to a life of NO WORK / NO PAY (ie., if you want to generate a fresh batch of dollars, you have to work for it) or do you want a BETTER LIFE?

    What's the solution?

    Build assets: Work once, make money many times over

    The classic example of this is KINDLE

    You can either do the research yourself or you can hire a Virtual Assistant to do it.

    Regardless, you need to find hot niches on Kindle and write a series of books that would have a high chance of SELLING even a few copies daily - due solely to how hot their niche is.

    You don't even have to write the materials yourself. You can outsource these.

    What's important is you create at ASSET that will continue to produce income LONG AFTER you put in the work or investment in creating the asset.

    Another example is a content marketing network that leads to a squeeze page.

    There are tons of other passive income asset building strategies you can follow...

    One thing is clear: if you want to start making progress, start laying the bricks of your digital ASSET empire NOW. You don't have to quit your job or your freelance projects. Start by devoting one hour per day on ASSET building.
    While I have never made money with Kindle (good writer but not the creative sort), I totally agree with your overall point. I first realized this point back when I was a kid and used to watch "The Fabulous life of...." kind-of shows back-in-the-day. In addition to show off the person's crazy lifestyle, they would talk about what the person actually did to earn money. I noticed a few things that have become more apparent has time as progressed:

    1) They all worked in popular niches that paid them a lot of money (salary). 2) They all had multiple streams of income (more than one way of bringing in cash). 3) They all generated some kind of residual income (though syndicated t.v. shows or commercials, royalties from the sale of merchandise). 4) They all own businesses. 5) Create something or play an integral role in a business that does.

    In a nutshell, if you want to be rich in our society, you have to do each of these things in some capacity to make it big. I mean, it's great if you want to be a teacher, but teachers are never going to make a lot of money, so you better start up a Youtube channel or something - LOL! There are teachers that make more money from their Youtube channels than what their job actually pays them, which is kind of sad.

    Joey
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  • Profile picture of the author celente
    tony robbins, I am not sure I magnetize myself to him, or read alot of his stuff.

    But one phrase comes to mind from his stuff. its very powerful. In terms of TIME <> MONEY investment.

    "If you give more than you receive....GAME OVER!... you will never have to worry about money for the rest of your life"

    Give more, create more, help more, live more.....

    Its a principle many successful info publishing business owners live by. Pretty powerful stuff. The law of giving and receiving, that many people have written books you can do curls with. :-)
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  • Profile picture of the author malikkashif
    Whats a great advice.
    You are right we work as a freelancer for others but if we invest our expertise for own projects then that day is not so far when we will be also in the number of that clients which having good money to hire the others services & enjoy their asset's benefit
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  • Profile picture of the author abilify182
    Originally Posted by icoachu View Post

    If you are tired of the monthly grind of having to chase freelance projects or consulting clients so you can pay your bills, you have to think LONG TERM. Look at the big picture...

    Are you going to resign yourself to a life of NO WORK / NO PAY (ie., if you want to generate a fresh batch of dollars, you have to work for it) or do you want a BETTER LIFE?

    What's the solution?

    Build assets: Work once, make money many times over

    The classic example of this is KINDLE

    You can either do the research yourself or you can hire a Virtual Assistant to do it.

    Regardless, you need to find hot niches on Kindle and write a series of books that would have a high chance of SELLING even a few copies daily - due solely to how hot their niche is.

    You don't even have to write the materials yourself. You can outsource these.

    What's important is you create at ASSET that will continue to produce income LONG AFTER you put in the work or investment in creating the asset.

    Another example is a content marketing network that leads to a squeeze page.

    There are tons of other passive income asset building strategies you can follow...

    One thing is clear: if you want to start making progress, start laying the bricks of your digital ASSET empire NOW. You don't have to quit your job or your freelance projects. Start by devoting one hour per day on ASSET building.
    You said here that we should devote at least an hour a dsy for this. Can you give me examples of things ee should do towards building our assets?
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    • Profile picture of the author icoachu
      Originally Posted by abilify182 View Post


      You said here that we should devote at least an hour a dsy for this. Can you give me examples of things ee should do towards building our assets?

      You can devote an hour each day looking for low competition, high demand niches on Kindle.

      Alternatively, you can devote an hour each day looking for keywords that have decent commercial value, decent search volume but low competition. You can eventually build sites based on these.
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  • Profile picture of the author spurge0n
    You took a page right out of Robert Kiyosaki's playbbook. And it's right on the money (no pun intended).

    Well done.
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  • Profile picture of the author kidino
    I think in most cases, whether you are selling a service or a product, you have to package it like a "product"... I like reading the book "Built To Sell". It's about building a business that is sellable, regardless of whether you want to sell it or not. But the end game is to build a business that can function without you. If you have a business like that, that is a really great asset... and something that others would pay premium for.

    Me -- I am not there yet. I did a lot of internet marketing previously. But I gave it up pursuing the startup life. I am doing quite alright. But I am building something on the side (check footer). I think a lot of freelancers (esp programming) start by offering services for instant cash. But when you get the chance, build a product on the side, SaaS, script, etc... when branded right, you can sell that off too.

    I am the programming type... so this is probably something else that you can consider other than the Kindle.
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    • Profile picture of the author discrat
      Yep I do agree Passive Income = Highly Valuable Asset.

      Its a winning formula that most fail to attain.


      - Robert Andrew
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  • Profile picture of the author alexchen23
    Originally Posted by icoachu View Post

    If you are tired of the monthly grind of having to chase freelance projects or consulting clients so you can pay your bills, you have to think LONG TERM. Look at the big picture...

    Are you going to resign yourself to a life of NO WORK / NO PAY (ie., if you want to generate a fresh batch of dollars, you have to work for it) or do you want a BETTER LIFE?

    What's the solution?

    Build assets: Work once, make money many times over

    The classic example of this is KINDLE

    You can either do the research yourself or you can hire a Virtual Assistant to do it.

    Regardless, you need to find hot niches on Kindle and write a series of books that would have a high chance of SELLING even a few copies daily - due solely to how hot their niche is.

    You don't even have to write the materials yourself. You can outsource these.

    What's important is you create at ASSET that will continue to produce income LONG AFTER you put in the work or investment in creating the asset.

    Another example is a content marketing network that leads to a squeeze page.

    There are tons of other passive income asset building strategies you can follow...

    One thing is clear: if you want to start making progress, start laying the bricks of your digital ASSET empire NOW. You don't have to quit your job or your freelance projects. Start by devoting one hour per day on ASSET building.
    What a valuable advice.

    Thanks mate.
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  • Profile picture of the author pin9211
    Easy to say or Advice but difficult to implement.
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    • Profile picture of the author stoltingmediagroup
      Originally Posted by pin9211 View Post

      Easy to say or Advice but difficult to implement.
      This is true, it's easy to say, but difficult to implement.

      Well let me correct it a bit, it's easy to say, a little harder to implement, but really difficult to make a living at it. (building assets online).

      Anyone that tells you any different is full of crap, and or is trying to sell you a product or service teaching you how easy it is. In most cases. the only easy things for them is selling crap to newbies, but for themselves, they have no real products, or assets.

      Having said that, it "is" possible, as I have been online and in business since modems made noise.

      I have several evergreen products that were originally developed at least 10 years ago, and today they still earn more in a day than most make in week at a regular job.

      So yes, building long term assets online is possible, but so is winning the lotto.

      From an Entrepreneurial perspective, It's NOT that simple, at least not for the majority in this forum, and many reading this thread. No matter what "step by step hold you by the hand" course you buy.
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  • Profile picture of the author ryan2008
    Great advice build small passive income machines and the rest will follow!!!!
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