This blog moved to a new location, please visit us at http://ramble.m2m.at.
What's passive income?
You create a product. You setup a process to let customers consume that very product without intervention from your end. You earn money without needing to do anything else.
What's the big secret behind?
!!!Automation!!! The essential part is that your process is automated, and you do not have to intervene. If you have to handle every product for every single customer yourself, it is not passive any more.
If your process is automated, you do not be part of the actual selling process any more, and it does not matter if you have a single customer or 100.000 ... AUTOMATION ...
Showing posts with label delegation. Show all posts
Showing posts with label delegation. Show all posts
Tuesday, October 01, 2013
Sunday, September 29, 2013
Smart Passive Income #22 - Delegation, Hiring, Exploitation?
This blog moved to a new location, please visit us at http://ramble.m2m.at.
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 ...
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 ...
Friday, September 27, 2013
Smart Passive Income #20 - Delegating
This blog moved to a new location, please visit us at http://ramble.m2m.at.
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 ...
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 ...
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