Tired of Trading Time for Dollars
Recently I found myself complaining to a friend that I was burnt out; tired of fighting for a space on the world wide web that wasn’t overflowing with business coaches who know nothing about owning a business, and I was totally over explaining to people that I don’t work for free. I even tweeted a few days ago that in 2020 I did not want to trade time for dollars any more. I wanted to transition away from being self employed and into being a business owner. I spoke it into existence, meditated and prayed on it and then scribbled down a profit plan in my journal and never looked back.
Then this happened… Yesterday I discovered an old Patreon account for the Beauty, Brains and Business Podcast and to my surprise, $24 was just sitting there, waiting to be claimed by me. Over the last 2 years, people had been contributing $1 a month and those dollars had added up! I was like, “Yes Lord!” Because this was a seed I had planted and forgotten all about. So I did a happy dance, and transferred the small amount into my PayPal account. Hey, it may not seem like a lot to you, but that was $24 that I had made simply by starting a Patreon account and then doing NOTHING for 2 years!
Then this happened… Today another $20 was deposited into this same PayPal account. This time it was royalties for 2 books I had written in 2009 and 2013 and someone had purchased copies of both of them. “Well alright nah God! I see you!!!” Again, I had done NOTHING to promote these products, but they were still out there because I had planted the seeds years ago.
What I’ve just described is called passive income; not trading time for dollars, and evergreen products that generate money for you 24/7, which I cover in my course, How To Make Money in Your Sleep. Now this is far from what I envision as being a business owner who can still generate income while sitting on a beach drinking a fancy drink, but it’s a start! When I confessed that I was not going into 2020 giving away my time doing individual business coaching sessions, what transpired was me assessing what was working and not working in my business, and beginning to think about products and services that I could scale, which would allow me to make more money, doing less work.
If you are serious about financial freedom and independence, there has to be a consistent stream of income flowing in that does not require your time and attention 24/7. The goal is to plant so many passive income seeds, that you forget they are there until incidents like the ones I’ve described begin to take place in your life and bank account.
Don’t be like me 20 years ago, starting a private practice and working all day seeing clients back to back, trying to pay the rent. Don’t be like everyone else who believes that you have to live on the internet 24/7 trying to convince the world that you are the best. As you can see from my two testimonies, you don’t have to become a slave to your business and trade time for dollars. Receiving those payments confirmed that we all can ring in the New Year not giving away all of our time trying to make a living.
So what’s next? Well from the looks of things, I am well on my way to working less and generating more income in 2020. For the remainder of 2019, I plan to revisit the seeds I’ve planted, because when I look back, I have actually planted a lot of passive seeds in the form of affiliate programs, products and courses, and really begin to nurture them as they continue to do their thing.
As we enter the last month of the 3rd quarter of 2019, how are you planning to scale and grow your business? How do you envision yourself in 2020; self employed and trading time for payment or a business owner who is making money even when they are not present? What plan do you have in place to make sure the vision for your life comes true? What seeds are you planting now that will benefit you in the years to come? If you are struggling to answer these questions, I hope you’ll join me for Power Moves, a one day event where I work with female entrepreneurs on generating different streams of income for their business.
If you liked this article, comment below! If you are generating passive income in your business let us know what’s working for you.