Need A Goal For 2010? Focus on Creating At Least ONE Autopilot/Residual/Passive Income Stream

12 replies
Let's all dedicate 2010 to creating at least ONE (hopefully many) automatic money machines that continue to work for you even if you decide to take a month-long vacation.

The way to do that is to start with ONE thing. Not 20 things, not even 5 things. One thing.

Find ONE way to make you some money. One site, one blog, one article, one affiliate product, etc.

Then, either build on that, or duplicate the process with other sites/products, or both.

I just responded to a thread about making $1000 per day in passive income, which could be useful here...

The reason most people don't (and never will) have passive income streams is because they don't want to do the 'boring,' unsexy stuff. They want new and exciting marketing ideas and techniques.

People don't want to focus on the boring fundamentals.

People don't want to set up an affiliate program and start looking for affiliates. (Affiliates that will bring in new customers and orders on autopilot.)

People don't want to set up a backend system / solid autoresponder sequence that automatically sends out offers to upsell, upgrade, etc.

People don't want to spend time on writing quality articles and then working on getting it positioned well, creating backlinks, etc. (They're more interested in taking one PLR article and spinning it into 100 different articles and then rolling the dice.)


Most people want shortcuts, they want magic bullets, they want shiny new stuff.

(I know some people who have spent their entire marketing careers trying to get a #1 listing on Google, often with nothing to show for it in the end. There are others who pollute the Internet with garbage, spinned articles and wonder why the traffic (and orders) stopped coming after the initial burst.)

Others are simply doing too many things at once.

I understand. Believe me. There's so much noise out here (in the IM world) that it's easy to get distracted.

But we have to make a conscious DAILY effort to focus on our goals.

If your goal is to create residual or passive income streams, you often have to do some boring stuff. Stuff that most marketers don't want to be bothered with. (Mostly likely stuff that you've been reading about for the past 10 years.)

The goal of $1000/day starts with making $1000/month. (It's easier to focus on a monthly or weekly average goal versus a daily goal.) Or heck, maybe just $100 per month. On autopilot.

But, again, that's too boring for most of us. :-)
We all want something that will create the big money, starting today. The next new software, script, sneaky google trick, whatever. It doesn't work that way.

Focus on creating systems. One step at a time. Start with solid fundamentals (strong foundation) so that you can keep building on it without it all crumbling down on you in the future.

Start by creating one moneymaking site, affiliate product, published article, etc... (or pick one of your existing sites that is already able to sell) and add one thing to it each day that will eventually turn it into an automatic money machine, whether it's finding affiliates, creating backlinks/traffic, setting up an autoresponder series, or whatever.

Bryan
If you don't already have a specific goal for your business, for 2010, may I suggest going autopilot.

Happy new year, Warriors!

Bryan
#2010 #create #focus #income #streams
  • Profile picture of the author Marhelper
    Year of the Magnificent Obsession!
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  • Profile picture of the author andrewpeacock
    Great post Bryan. Thanks for sharing. That's kind of where I've gotten to recently. Too much hopping about. Time to pick something and RUN with it.

    Andy
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  • Profile picture of the author Sheryl Polomka
    Great post Bryan - LET'S DO IT!

    I want to change over from work that does dry up as soon as I take a break to becoming more automated.

    So I am going to set myself the goal of having at least one automated income stream. I have one niche site that converts well with the few visitors it receives, so that is where I am going to start, I am going to work on that site and build it up to bring me more passive income.

    Thanks for inspiring me, looking forward to seeing more people come in here and set themselves the 'automated goal'.
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  • Profile picture of the author paulie888
    Great advice, Brian! It is always nice to have at least one passive income stream that will constantly bring in money, regardless of whether we work or not. So much of IM is hands-on and proactive, and it can get exhausting doing it day in and day out, but we know that the moment we stop the income pretty much dries up. Yet so many of us neglect this, and the reason is that, as you've mentioned, building up something passive is usually very tedious and banal in the beginning, and I'd also like to add that it rarely generates income in the beginning while we're setting it up, and I'd like to think that this largely explains why so many of us are less than enamored with such methods.
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  • Profile picture of the author Bryan Kumar
    Originally Posted by paulie888 View Post

    Great advice, Brian! It is always nice to have at least one passive income stream that will constantly bring in money, regardless of whether we work or not. So much of IM is hands-on and proactive, and it can get exhausting doing it day in and day out, but we know that the moment we stop the income pretty much dries up. Yet so many of us neglect this, and the reason is that, as you've mentioned, building up something passive is usually very tedious and banal in the beginning, and I'd also like to add that it rarely generates income in the beginning while we're setting it up, and I'd like to think that this largely explains why so many of us are less than enamored with such methods.
    paulie,

    I agree, it rarely generates income in the beginning. Because people don't start with something that's already making money. They start tinkering with a brand new project from Day 1. Oftentimes, a lot of effort is wasted when we go about it in that sequence.

    The first step is to find one strategy (or technique) that can make you some money. Articles, PPC, whatever.

    (Choosing an affiliate product that is proven to sell is a good start for those that don't have a proven seller of their own yet.)

    After we have at least one real way to make money, we can then start to add other bits and pieces to it, like backends, residual offers, etc. Just like what Sheryl is planning to do, above. (Of course, if you start out with a service/system that's already set to pay you each month, even better.)

    Investing your time and effort into proven winners is the often best strategy.

    Bryan
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  • Profile picture of the author SuiteJ
    You said it!

    You gotta go after auto-pilot. Just the fact that it exists on a fairly level playing field and is available to anyone who pursues it is reason enough.
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    • Profile picture of the author sylviad
      Excellent thread, Bryan.

      Actually, I'm already working on that very thing as we speak.

      You are so right about the reasons people don't reach their monetary goals.

      Here is another point to add to yours that might help people to stay loyal to their goal.

      For me, creativity takes a front seat each and every time. When I begin marketing, I quickly lose concentration and become quite ill at ease doing all that tedious work. As a result, I'm soon back on doing something creative instead. This means I've never reached the success that I am capable of.

      For others who cannot stand the tedious work, here's a tip (unless you can afford to pay someone else to do it for you):

      Keep the tedious work down to time spans that you feel comfortable with, and then reward yourself by doing something that you enjoy that will move your business forward.

      Having a schedule of activities helps. Slot in 2 hours on Tuesday and Friday for marketing and the rest for the parts you like.

      It's working for me!

      Sylvia
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      • Profile picture of the author Bryan Kumar
        Originally Posted by Razer Rage View Post

        Of course, it doesn't have to be an auto-pilot system. You could just work on it for 1 hour (or less) per day. Do you realize how much can be accomplished with an IM business in an hour per day? And do you further realize how many 9-5 people would KILL for a 1 hour work day?

        I'm just saying that the whole reason most of us got into this IM game was to work smarter, not harder.
        Yes, definitely. Working smarter, not always harder is where it's at. Leverage as much as you can.

        Nothing wrong with working 1 hour per day, or even 8 hours per day for that matter.

        The benefit of having an autopilot system is that you don't have to work, if you don't want to. Also, if for some reason you weren't able to work anymore (illness, family emergency, whatever), an autopilot system can come in very handy.

        Originally Posted by SuiteJ View Post

        You gotta go after auto-pilot. Just the fact that it exists on a fairly level playing field and is available to anyone who pursues it is reason enough.
        Agreed! We all have it at our disposal right now. In the future, who knows. May or may not be as easy. And, we'd kick ourself for not starting when we had the chance.

        Originally Posted by sylviad View Post

        Here is another point to add to yours that might help people to stay loyal to their goal.

        For me, creativity takes a front seat each and every time. When I begin marketing, I quickly lose concentration and become quite ill at ease doing all that tedious work. As a result, I'm soon back on doing something creative instead. This means I've never reached the success that I am capable of.

        For others who cannot stand the tedious work, here's a tip (unless you can afford to pay someone else to do it for you):

        Keep the tedious work down to time spans that you feel comfortable with, and then reward yourself by doing something that you enjoy that will move your business forward.

        Having a schedule of activities helps. Slot in 2 hours on Tuesday and Friday for marketing and the rest for the parts you like.

        It's working for me!
        I started to write something about creativity in one of my earlier responses, Sylvia. But didn't want to go off on a tangent.

        You are correct though. Creativity can be a killer sometimes. Especially if you don't yet have a working system in place.

        Sometimes creativity can overcomplicate things or just slow you down quite a bit.

        Get the system running first and making you money. Then, get as creative as you want to be. :-) Keeping in mind that the ongoing goal is to make the existing system more efficient and hopefully less complicated.

        Bryan
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  • Profile picture of the author AdvertSmartCom
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  • Profile picture of the author actionplanbiz
    Focusing on a blog - product review site on physical products. trying to rank on some keywords (for the 1st time). hopefully once its set it can run on its own.
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