How To Make Money Online (eBooks, Blogs, Podcasts & YouTube) | A Business Model That Works
Today I want to share how I make money online. How I invest my time and where I invest my resources. I have made simple diagrams which will explain volumes. Let’s dig into it.
As you can see, I am spread all across the board. I am an independent consultant and I run my own business as a self-employed boss. I am also having few small-scale businesses where automation works for me.
The difference between Self-employed vs Business quadrant is primarily of automation and systems. For example, a small mom-and-pop shop is basically being self-employed. You have to ask yourself this question to identify a true business.
“If I do not work today, will my business make money?”
If the answer is NO!, then you are a Self-employed individual.
On the other hand, if you own a Chipotle franchise or a McDonald franchisee, you have a system and team of employees put in place to work on behalf of you. In this case, if you get sick, your business still runs and makes money for you.
How To Make Money Online
As you can see, I invest heavily in real-estate and that’s put me into the I (Investor) quadrant as well.
My goal is to completely ELIMINATE the “E” & “SE” quadrants and invest all my time, money, energy and brain into the “B” & “I” quadrants. In next 5 years? We’ll see.
But that’s my goal. My 5-year goal is to operate a > $5 Million USD business and grow my net-worth to > $1 Million USD. You can have your own goals and then work backward.
So, what am I doing about my financial and business goals? Well, the answer is continuing to do what I am already doing.
How can YOU do this too?
Yes, you or anyone can do it by putting in enough dedication and hard-work into the process I am about to describe. Just follow the steps as shown in the diagrams below.
The promotional tools are the tools where you “spend” time and/or money. These tools allow you to leverage the power of the Internet. When used properly and with creativity, they allow you to both build a brand name and do marketing for your products and services at a minimum cost of traditional marketing.
As I have said in my earlier posts on Blogging 4.0 that blogging alone or YouTubing alone or writing eBooks (or books) alone will not cut it anymore. There is simply too much competition out there. Plus, think about it and ask yourself: “What difference are you making in this world?”
You have to not only create true value for others but also differentiate yourself. One way to do so is to take advantage of Podcasting, YouTube, writing books and creating and offering products and services.
Then, you got to slowly-slowly remove yourself from the business process and automate everything. You want to be in a position where even if you can’t show up for work, you still generate cash flow.
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What do you say? If you have suggestions, feedback, and thoughts, please feel free to leave a comment and I will try to honor your requests. If you would like me to expand this post, please let me know what would you like me to describe in greater details? (The first 3 commenters are always my favorite.)
Thanks for the blog. Really looking forward to read more. Really Cool.
Thank you, Veronica! 🙂 Thank you for your kind words! Let me know if you are trying the strategies and if they are working for you. Would love to hear more from you.
This is sweet! Please post a follow up, more detailed blog, I would love to learn as much as I can.
Hi Peter, I am going to post another 5 part series posts on authorpreneurship, brand creation and content marketing. Stay tuned! Best, Sal
Attention grabbing and you left me with some actionable steps. Thanks Salil!
I am glad you liked it and found it helpful, Florence!
Aw, this was an exceptionally good post. Finding the time and actual effort to generate a good article but what can I say I hesitate a whole lot and never manage to get nearly anything done.
Yes! Finally something about advice.
Fantastic site. A lot of useful info here. I’m sending it to some buddies and additionally sharing in delicious.
thanks for your effort!
Thanks for sharing the post.. parents are worlds best person in each lives of individual..they need or must succeed to sustain needs of the family.
Agree, Talitha! Happy New Year!
This is a smart blog. I mean it. You have so much knowledge about this issue, and so much passion. You also know how to make people rally behind it, obviously from the responses.
Thank you, Nickie! Appreciate the kind words! Happy New Year!
No doubt this is an excellent post. Theme of blog is excellent there is almost everything to read, Brilliant post.
thank you, Natalello
I wanted to thank you for this excellent read!! I definitely loved every little bit of it. I have you bookmarked your site to check out the new stuff you post.
thank you, Manual! Appreciate the kind words
Sal
Long time reader, first-time commenter — so, thought I’d drop a comment — and at the same time ask for a favor. Your wordpress site is very simplistic – hope you don’t mind me asking what theme you’re using? (and don’t mind if I steal it?) 😛
Keep up the good work– and take care of yourself during the coronavirus scare!
~Justin
Hey there 🙂
Your wordpress site is very sleek – hope you don’t mind me asking what theme you’re using?
(and don’t mind if I steal it? :P)
I just launched my site –also built in wordpress like yours– but the theme is slows (!)
In case you have a minute, you can find it by searching for “royal cbd” on Google (would appreciate any feedback)
– it’s still in the works.
Keep up the good work– and hope you all take care of yourself during the coronavirus scare!
I found your site very useful. Also, love your book. Any new book coming?