Monday, September 30, 2013

Smart Passive Income #23 - Income Report - Insights - Home Office - Health

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Pat's monthly income report for November 2008 is again impressive. With about 9800 USD his income increased by more than 20 % (ok, I am jealous). Most of it derives from his eBook, his eHow experiment makes a mere 20 USD.

... most important insight for that month?  Working from your "home office" is difficult. It's called home office, but it really is your home. There are distractions everywhere. Always something to do instead of "actual work" ... on the other hand there are times when you do (can) not stop working and you literally work "to much" ... take care of your health, and schedule fixed working hours at a fixed working place (not in front of your TV) ...

Sunday, September 29, 2013

Smart Passive Income #22 - Delegation, Hiring, Exploitation?

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How to find Hired Help Online?

Agreed trying to do everything yourself is bad. Outsourcing frees your creativity etc ...

Pat goes to eLance for search engine optimization, voice talents, and custom WordPress. You post your project and your future "helpers" will bid on your project ... you choose ... they work ... you will be happy? Pat describes his experience and seems happy ;)

 ... what I do not understand ... even in October 2008 Pat claims to have earned nearly 8000 USD which calculates to (assuming a "normal" work week has 40 hours and there are four weeks in a month) about 50 USD per hour. His example of a WordPress theme redesign cost 100 USD. I cannot believe that this was done in two hours ... assuming all the work (including the bidding, communication about the specifications, the actual work, perhaps some tweaks here and there) ... Pat was only willing to pay a couple of bucks per hour ... Granted there are countries where costs of living are only a tiny fragment from e.g. the US ... and if it is ok for big corporate to go overseas and do a little exploitation there, it should be for individuals, too ... well, done ...

Saturday, September 28, 2013

Smart Passive Income #21 - Thangsgiving Racap

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It's Thanksgiving 2008 in Pat's timeline (are you allowed to use this term for something else than Facebook?). Pat's blog has about 200 visitors daily (I have about 10 ... most of them myself?) and he lists his top commenters (for that would be nobody) ...

Friday, September 27, 2013

Smart Passive Income #20 - Delegating

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Doing everything yourself and trying to know everything is bad, ... Pad says so ... I believe him ... but ... actually I like to know everything - or at least to find out how something works - that's the reason why I became self-employed ...

Of course time is money, if you spend time doing something, which somebody else could do faster and cheaper for you ... and you could actually do something else - earning more money - instead ... that's reasonable ...

... however ... (there seems to be always an however, if you just don't want to acknowledge that somebody else is right) ... how are you able to trust this other people that they will do the work like you want it ... how to know that they would actually be more efficient ... .... all these trust issues ... and when you have "no" money at the beginning of our entrepreneurial carrier (or even when you have started already some time ago) ... well, this will take some introspection ...

How-To Update phpList

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phpList an open-source newsletter manager, with lots of features - the best of them: it's free ...

... like with Tiny Tiny RSS, when install phpList on your own server, you need to keep the software up to date.

How you are going to updated depends strongly, on how you have installed the software. For this how-to I assume the source code is installed outside the web root and is symbolically linked to.

e.g.
lists -> ../phplist-3.0.3/public_html/lists/
How to update phpList?
First backup your current installation as well as the database.

Let's say your current installation version 3.0.3 is at phplist-3.0.3, you do not need to create a copy because we will not change this installation at all.
To create a backup of your current database use your favorite tool, e.g. phpMyAdmin

or by command line
mysqldump -u [db-username] -p phplist > phplist-3.0.3.sql 
 Download the new version and unzip it:
tar -zxf phplist-3.0.4.tgz
If you did any changes on the old source code compare the old and new versions to see which changes you need to apply to the new version:
diff -rq phplist-3.0.3 phplist-3.0.4 > diff.txt
Most likely you will have changed (repaired?) the styles and language files. Copy your "old" configuration file to the new version:
cp phplist-3.0.3/public_html/lists/config/config.php phplist-3.0.4/public_html/lists/config
Checkout if there are new settings you might want to include.

Next, create a dummy sym-link in your web folder to see if everything works fine, e.g.:
ln -s ../phplist-3.0.4/public_html/lists newlists
Enter the admin interface and click on "upgrade" ... if there are no further problems with the layout, etc. link also your working directory to the new version, e.g.:
rm lists; ln -s ../phplist-3.0.4/public_html/lists lists
... and done ...

Thursday, September 26, 2013

Smart Passive Income #18 - Don't Wast Your Time - Market Research

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Don't wast your time and money on a product nobody will buy

If you have an idea on a new product make sure there are actually customers who are willing to buy it. Don' go with your gut an just assume it - ask them! Find them, ask them personally, make polls with your current customers (from other products) ...

... I will skip entry #19 which is a fable Pat wrote for fun ...

Wednesday, September 25, 2013

Smart Passive Income #17 - The Benefit - Health

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Another Benefit of Passive Income?

Well, now that you have all the money you could imagine, and all that spare time, you can look after yourself, train and get in better shape, become healthy ... Does that mean, while I am still in the working hard phase, I should not do that?

We have only one single body - at least till Sheldon Cooper finds a way to transfer our minds into android (not the phone) bodies. Take care of yourself now! If you have not seen a doctor for years, make an appointment for a checkup immediately. If you have, repeat the checkup every year!

If you are still in a 9-to-5 job, do the same, don't wait till you have the time! Don't wait till you are rich and can effort your very own personal trainer.

... because most likely, when you became rich and have all that abundance of time, you will want to reward yourself and enjoy thous twelve-course menus delivered directly to your pool where you sleep all day ...

Tuesday, September 24, 2013

Smart Passive Income #16 - Ridiculous? Waste of Time?

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Why making money is ridiculous?  Not only to parrents ... it sounds like a dream (?) come true, doing nothing and earn money ...

... that's actually not true - however it might be perceived that way. The idea behind smart passive income is to create a product which then using acclimatisation and the "global" availability of the internet to earn money from that effort without having to add to that effort.

Of course, it does sound ridiculous, waking up and having earned real money during the night doing nothing. Because the real work is hidden. You need to create such a product. You need to set up an automated process to provide the product to your customers (and hopefully collect some money). You need to find customers.

After all if you invest precious time - worth a couple of thousand dollars - and earn a couple of cents ... it does sound ridiculous ... Why did you wast your time?

Monday, September 23, 2013

Smart Passive Income #13 to #15 - eHow - The Expermient Continues

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Its day 6 of Pats eHow experiment writing five articles a day for a year.

He starts calculating of how much he will earn using the numbers of fellow writers. Assuming he has more than 1500 articles after a year, knowing somebody with 250 articles makes about 1000 USD a month ... he derives a number of about 40 000 USD a year ... which is not bad for a weekly work load of less than 14 hours ...

While the numbers are motivating, I would hesitate to use them for a business estimation ... I wonder that this is why Pat is rich, and we are not ;)

Instigated by a comment to this blog entry, Pat wonders that it might better to stop eHow experiment and write those article for his own blog. He might earn more money, but loose the security of an "convenient" environment.

He concludes that he will limit his eHow experiment to a single month, and will use his time and effort for a niche blog. ... and of course will post his findings ...

Sunday, September 22, 2013

Smart Passive Income #12 - Spamming

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If you have the email addresses of customers who recently purchased your product, contact them, ask if they liked it, and use the answers as testimonials ...

... which might be tricky if you live in Europe, the law declares something like this as spam and the fines are horrendous. ... life is unfair ...

How-To update Tiny Tiny RSS

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In Summer this year Google discontinued the Google Reader - a free service to collect various RSS streams and to view them online. Tiny Tiny RSS is an open-source software which provides the same functionality on your own (local) server. It requires PHP and MySQL, is quite easy to install and allows even to import data from Google Reader ...

... however running the reader on your own server - even if it provides "more" privacy - requires keeping the software up to date.

How to update Tiny Tiny RSS?
First backup your current installation as well as the database.

database backup using phpMyAdmin
Let's say your current installation version 1.9 is at ttrss, just create a copy of that directory naming it with the "old" version number. Why? If something goes wrong, you want to go back to the current - working - installation.
cp -rp ttrss ttrss-1.9
To create a backup of your current database use your favorite tool, e.g. phpMyAdmin

or by command line
mysqldump -u [db-username] -p ttrss > ttrss-1.9.sql 
For the actual update, you could download the new version and do a manual update, but there is a more convenient way. Let it do Tiny Tiny RSS itself:
cd ttrss; php -q update.php --update_self
This will download the new version, (create a copy of the current version - which we actually do not need because we created a backup above).

The current version also fixes the permissions on the cache folder, but seems missing the upload folder which it will tell you when opening the online interface the next time. Just change it yourself e.g.
chmod -R 707 cache/upload/
Now open the online interface in your browser, the software will run an update on your database ... done ...

Saturday, September 21, 2013

Smart Passive Income #10 & #11 - eHow, HubPages - The Experiment

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Pat's newest (well November 2008) experiment is to write articles for ehow. To be more specific
... to write at least 5 how-to articles a day for an entire year ...
eHow is a collection of more than a million how-to articles in any category you imagine - powered by demand media studios. To be able to write, or copy edit, or even make movies for eHow, you need to apply (seems they became picky). Once accepted they offer various topics. You choose, write. An editor needs to approve your article ... you get paid (about 20 to 30 USD per article?). In addition you get a cut of the adds posted with your article. Meaning, if you article is successful you get more money.

There are people with positive experience, and of course people with bad ones. By personal favorite, there is even a web page called demandstudiossucks.com which actually shows both, positives and negative aspects ... If you want to go that route, you need to decide for yourself.

... an alternative - I just stumbled upon while googling eHow - would/could be to post articles on hubpages. Compared to eHow you do not get payed up front on hubpages, you earn only part of the adds revenue. But you will stay the copyright owner of your article ...

How did Pad do? Of this five linked articles of his first day, only one is still online. On day four of his experiment he has already posted 31 articles, and earned 1.11 USD.

Spoiler alert: It seems he stopped his experiment after a month, but has seen a steadily increasing stream of income of currently (end of 2013) a couple of hundred USD ...

Friday, September 20, 2013

Smart Passive Income #7 to #9 - Lifestyle Design

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Blog entry #7 introduces lifestyle design - to actively decide how your lifestyle should be and act accordingly ... and of course not being forced to work a fixed 9-to-5 job empowers to do exactly that ...

The next blog entry is Pat's monthly income report which is quite impressive due to his already published ebook. But also his adsense income is more than most other people could hope for.

... and we are already in November 2008 ... start an ebook by writing its outline!  Nothing to add/comment there ... 


Thursday, September 19, 2013

Adding Snippets to Eclipse

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The problem: You want/need to add/use the same code pieces again and again

You could just copy and paste, which becomes tedious when you have different pieces ...

... or you could yous the snippets plugin which you can access via
 -> Window -> Show View -> Other ... -> General -> Snippets
 ... if it is not already there, install it. Go to
-> Help -> Install New Software ...
choose the site of your current eclipse version and select inside
Web, XML, Java EE and OSGi Enterprise Development
the plugin
Eclipse Web Developer Tools
Click all the necessary "next", "I agree", and "finish" buttons ... finally restart eclipse ...

Add new snippets using the right mouse button and selecting "cusotmize".

Smart Passive Income #7 - Sources - Blogs, eBooks, Membership Sites

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I have just listened to a podcast where Pat warns, not to try earning money writing guides on how to earn money ... So, it's really good that I do not expect to earn money, and these blog entries are only meant for me to summarize what I have learned(?) and for future reference ...

... continuing with Blog entry #7 ...

Still trying to create passive income - meaning create a product which then sells itself automatically without further doing - Pat explains how information may be such a product. He names three ways how to generate such a informational product:
  • as blog,
  • as ebook,
  • on a membership site.
A blog is easy to start using e.g. wordpress or blogger. You can provide free content to your readers, establish that you are an "expert", which you can monetize using adds, affiliate links or even donations. It will be hard to show that you are different from the thousands of similar blogs, it takes time, and you need to update your content.

With an ebook you provide your precious information material all at once and you get a certain amount of money per sold copy. It might some time to create your ebook. Afterwards - if your information does not become outdated - you do not have to add to it. But it might be difficult to tell people that your book does even exist ...

A membership site had the advantage that if your memberships are reoccurring and nobody unsubscribes, you get more and more money ... However it might even be more difficult to convince people of your genius and that they should actually give money to you ...

... so, what will it be?

Wednesday, September 18, 2013

Smart Passive Income #6 - Reasons a Project might Fail

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Blog entry #6 of the smart-passive-income blog deals with reasons a project might fail and provides ways how to avoid them.

However, this reasons and especially the advices sound more like reasons you tell yourself your project might fail.
  • If you are overwhelmed with the vastness of your project, break it down into smaller pieces.
  • If you are stuck, not knowing what to do next, write everything down, research or ask for help, and break it down into smaller pieces.
  • If your motivation fails, .... well, here Pat becomes a little bit esoteric, or at least suggest psychological tricks, which might not work on everybody. At least for me more reasonable sounds: ... take a step back, take a break.
  • If you are overcome with self doubt, ... read that bit for yourself ...
  • If you do not want to repeat what somebody else has already done, do it better!
The comments agree wholeheartedly with the last point ... so do I.

... reading and summarizing an entry a day, I might be able to catch up someday if Pat stops delivering a new entry every day ...  

Tuesday, September 17, 2013

Smart Passive Income #5 - The Power of MindMaps

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We are still in October 2008, Pat is not yet imagining his future success - I have still to catch up with five years of blog posts ...

Mindmap @ wikipedia

Blog entry #5

How to sort your ideas to know what actually to do? Mindmaps
  • Take a big sheet of paper, start in the center with a topic.
  • Branch out radially to what comes in mind about the topic.
  • Continue, do not judge or edit during mindmapping.
  • Use different colors, images, symbols, codes, dimensions.
That does not mean you are done yet. But your thoughts are documented. Instead of always thinking about them, going in circles, your head is free to be productive. ... and you actually started!

Do you need to be an expert to sell your products/ideas?
I always thought so, but ... If you are offering something people want, they will buy it. If you need proof visit youtube ...
XMind

Back to mindmaps, the comments share a couple of links, if you do not want to waste paper:

XMind is a free tool, with the option to pay for extended functionality like exporting to PDF or special modes and encryption. Even the free version supports multiple diagram styles starting from basic mind maps, over fish bone charts to gantt charts. Or you can integrate it into your Eclipse environment ...

iMindMap @ ThinkBuzan

iMindMap is another highly praised tool. It comes in a variety of flavors. There is an online application, one for desktops, and a mobile version. The online and the mobile app versions are free but limited to syncing five mind maps to the "cloud". The desktop version is available as free trial.



... and wikipedia reference to many more ... I guess I will have to check them in the future ...

Sunday, September 15, 2013

Smart Passive Income - What is it? - How to make Time? - Laid Off

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A couple of days ago I stumbled over the Smart-Passive-Income Blog. Pat Flynn writes about his experience making money doing "nothing". Turns out the nothing part is actually hard work, but the making-money part is impressive ...

... so I went back to the first post wishing to learn and get inspired ...

Blog entry #1

Pat reveals the beauty of passive income - it works 24/7 - powered by the Internet.

What is smart passive income?

In a "normal" 9-to-5 job you get paid for the actual hours you work (or at least look like you are working). Which means, you do not get paid when you are not working. In addition your payment is limited by the hours you work. To get more money, you can work more, or need to get a higher rate.

With smart passive income you generate a stream of income which - once set up - which does not depend on your working hours. Accessible via the internet people are able to "consume" your products even while you are sleeping.

... two interesting question at the end of his post:
So what’s really keeping you from earning a passive income online? 
 I guess starting?! ... and having a viable product ...
If you already earn some extra money online, what was the hardest thing to do when starting?
Again starting?!

Finally there is a dampener in the first comment of the post. A commenter writes quite enthusiastically and links to his own blog. His blog has exactly one single post ... seems after the starting comes the continuing which might be hard, too.

Blog entry #2 & Blog entry #3

How to find the extra time? Just don't waste it, perhaps by watching less TV?

Of course creating the product meant to provide the unlimited stream of wealth, takes some time, too. You are working 40 hours a weak, have a family, friends, hobbies, other commitments. Your leisure time is even more exhausting than work. Bummer, no smart passive income for you?

Check your schedule, and check if what is on there is might be less important than creating unlimited wealth. Watching TV e.g. to know who becomes "Next [fill in the country of your choosing] Top Model", or hear Jean Luc saying "Energize" the 2.403 time? It might also be possible to reduce your time creating the next virtual farm building ...

Pat found his extra time and first success, documenting online while studying for an exam.

Blog entry #4

... is sad. Pat got laid off. But he is encouraged following his true purpose!
“Keep your head high – and thank [My Former Employer] for taking the chains off your potential.”
Sometimes we need a push even when life provides such pushes in abundance ...