Today I just want to share something with the new-to-intermediate Warrior that's perhaps not making as much as he/she'd like whilst also worrying about how the bills are going to be paid.
This post is aimed more toward the guys and gals that are attempting IM full-time or for Warriors who have lost their jobs, left their jobs or are generally struggling to keep positive cash flow whilst buidling their long-term income model.
For instance, my main income model is Amazon Associates and as you're probably aware it takes a while for the momentum to build especially if you're relying on SEO.
So what can you do in the mean time whilst your working on your long-term income to keep the bills paid?
Here's what I recommend people do for immediate cashflow. I'm always getting emails of this nature and this is how I flesh out the plan every time.
Let's get into the juice!
Cash Flow Plan
When you're just getting started and have little cashflow I always recommend having a two-part strategy.
Part 1 - Short Term Cash
Part 2 - Long Term Cash
Short Term cash is when you do something once and the money comes in once or twice. To make more money you have to to repeat what you did before.
Long Term Cash is something you setup, establish and maintain ONCE that produces income over a long period of time whether you are working or not. Things like this might be Adsense, Amazon Associates, that kind of thing.
With these two parts in mind we can now further into the plan. I believe it's important to utilize both parts in the beginning to a) you are working on a long-term business model and b) you have positivr cash flow in the meantime whilst your long-term projects are getting momentum (as you may not make ENOUGH money from your long-term projects for the first few months at least)
You need to figure out your monthly income goal so we can make plan for your short term cash flow ideas. I recommend setting a goal that pays all of your bills with a little on top.
In this example I'm going for $1000 per month. Yours will be whatever you want it to be.
Now, break your monthly goal into a weekly goal which will make it much more attainable. If you're the person who's struggling to keep positive cashflow or worried about how you're going to pay next months rent whilst you're waiting for your long term project to kcik-off or whatever, you'll know how much more relaxed you feel after breaking it down into smaller chunks.
Weekly goal: $250
Now you know what you need to make every week you can start mind mapping income generating ideas.
I've thought of a few here that might help:
- Flip one website per week on Flippa (Sell for $100, make $76.51 after domain cost and listing fee)
- Write 20 articles per week ($100 at $5.00 per article)
- Forum Marketing to a free report and upsell ($50-$100 in affiliate sales if you post consistently all week)
Ok, so some of you can't survive on $1000 per month but you get the idea.
Some of the above can actually be turned into full-time income streams too, but I'd rather work on stuff that's more passive ;-)
I hope that's given someone hope. I know how it feels to sit there worrying about how xyz bill is going to get paid etc I've been there before when I was starting out and I hope, like me, you feel a lot more calm and composed now you can see a cash flow blueprint to work on.
And it's only temporary :-)
Sooner or later your main long term business plan *if you have one) will start to take over your short term income and that's where the real fun starts!