3367 4:39 Q&A

Q&A: "I'm ready for more passive income…"

Our listener is earning more than $50,000/year from three side projects. Whoo hoo! Still, he wants more of this income to be passive, because he's doing a lot of work for it. How can he go to the next level?

4:39

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Our caller today is looking for something that you might want, too. I don't usually like to generalize, but in this case, what he wants is… passive income. So, yeah, I'm guessing you might appreciate more of that as well.

It's also a success story, because his side hustles since being part of the Side Hustle School community are bringing in more than $50,000/year. Whoo hoo!

I love hearing these reports—and I want to get one like that from you as well. Still, as Roger says, he wants more of this income to be passive, because he's doing a lot of work. So how can he (and perhaps some of our listeners) go to the next level?

Listen to today's episode to learn more...

Read the full transcript

This transcript was generated from the episode audio and may contain minor errors.

What's up, friends? Hope you're doing well. I am live in Austin, Texas for Neurodiversion 26, my new event. I'm going to be busy with that today. But of course, we've got episodes coming out all the time, seven days a week. We don't take days off. If you're interested

in the new event, go check out neurodiversion.org or come say hi today. I'll be at the public expo in Austin, Texas. Details on the website or on our Instagram neurodiversion event. But here on the podcast, I'm ready for more passive income. That is the title of today's listener question. And that sounds good to me, right? Being ready for more passive income.

This caller, they're actually doing really well already. They're a success story. His side hustles since being part of a side hustle school community are bringing in more than $50,000 a year. Well done. Woo hoo. Love that. If I love hearing these reports, I want to

get one from you like that as well. But as Roger, our caller says he wants more of this income to be passive because he's doing a lot of work. He's doing a lot of hustling for this $50,000 a year and nothing wrong with hustling, right? But passive income is even better. So how can he and perhaps some of our listeners, perhaps even you, how can you, he, everybody, all of us go to the next level? Let's talk about it. Detailed question

from Roger and my answer right after this. You might be wondering what the problem is. Well, all these projects take a lot of work. Not just the brainstorming or setup work, but actual operations. In fact, now that I've been doing this a while, I realize that's what I really need. So what do I do to go

from working hard and making extra money to working less hard, but still making extra money? I'm ready to go to the next level. So don't be afraid to give me a homework assignment. All right, Roger, this is in the category of good problems to have, which of course doesn't mean that it's not a problem because it's a worthy goal to be like, I want more passive income. I don't want to just work hard all the time. I want both those things.

So I think this is something you build into your next project because Roger here is pretty good at starting projects. So as you think about your next project, you can design this from the outset. You try to build with that mindset in mind, and your goal is to reduce the touch points that are required. The more automated, the better. The more system or process driven, the better. It's one thing to go to bed and wake up to payment notifications

from money that's arrived overnight. That's really great, but that's also step one. That's where Roger is now. Step two is can you go to bed and wake up to see those payment notifications that have arrived? And none of those notifications actually require any work from you. It's just

whoop, some money just arrived. That's pretty cool. Like I already did the work a long time ago in setting up the product or the service or whatever has been delivered. Like that I think is the real goal of true passive income. So notice that you can still provide a great service or sell a very helpful product in this scenario. You're just making your life

better as well. Okay, so it's good for everybody, including the customers or clients. My challenge for you Roger is to take what you have learned so far and apply it to this passive income goal over the next year. And I really hope in your next report, you can say not only you earning a good amount of money, but you have improved your quality of life as well. That is my hope for all of our listeners. And I am going to do everything I can here

through these daily episodes to give you ideas, points of inspiration, points of action that you can take and hopefully, as I said, make more money and also improve your quality of life because that's what it's about. We've been doing it for more than 3000 days in a row. We're not stopping anytime soon. New episodes dropped seven days a week, always completely free. My name is Chris Guillebeau, this is Side Hustle School.

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