Today, I’ve got a little bit of a story to start this one off.
About five years ago, there I was. I was sitting at a desk, I was a digital marketing manager, and this is what I had wanted for a very long time in my professional career. I had started in sales, moved to marketing, moved to digital marketing, and I was at a corporate level overseeing all the marketing for 10 different schools–three of them international, seven of them national.
It was really, really a good position to be in professionally. It was exactly what I wanted, but at the end of the day, every single day, I wasn’t fulfilled, which is crazy. I just wasn’t really feeling it. It wasn’t in my heart. It wasn’t like, “Okay, I finally did what I wanted to do.”
And I could’ve kept moving towards–let’s become a marketing director, and then a CMO, I guess, because those were the only two steps above where I was, but I got mad that I wasn’t happy. I felt like I was being ungrateful for what it is that I had achieved and what I actually had.
At the end of the day though, it didn’t matter, because something just kept nagging at me, and I couldn’t shake the feeling. So I quit my job. Now, quitting your job is a very, very scary feeling, and it’s something that takes everybody a lot of guts to do.
If you’ve ever done it, you know how that feels. Especially when you’re deciding that you’re going to quit your job and you’re going to work on your own business. That is frightening because you’re going right into the unknown.
I know exactly how that feels because five years ago, almost to the day, I did this myself. Luckily, I haven’t had to look back and go to any employers or anything since then. The key to this though, is that I didn’t quit just based on a whim. It was a lot of calculated moves that ended up leading down this path, and one that I definitely don’t regret looking back on.
I’m going to explain to you what that one thing was that caused me to leave my six-figure job, and also explain why I think it’s so important that everybody–not just myself–but everybody reading this, and even the people who don’t read it, should learn this lesson as well.
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I was working at a full-time job
In order to explain what I realized that caused me to quit my job, we do have to backtrack a little bit. There I was, working my full-time job, and I decided that I wanted to try to create a business of some sort.
But the thing was, my funds were limited and I didn’t have a ton of time. There were a lot of different variables happening, like a lot of us have.
I decided at the time, “Hey, let’s create a website.” And I’m not a tech person, I don’t know programming, but I decided to go with a website for two simple reasons: number one is that it was really low-cost to start a website; you can do it for under a hundred dollars per year.
Also, it was something that was nice because I could access it almost anywhere, but I could also do it from home when I wasn’t at my full-time job. To me, that passion project was kind of a way to escape my full-time job, if you will. It was really helpful in that regard.
I had to come up with a topic for this website, and it was actually pretty apparent to me, there was a family friend that had an issue with getting some employment due to some circumstances, and I said, “You know what? I could try to help you out.” So I tried to help him out, and then I looked and I realized there was actually a lot of different things that were kind of screwed up about this area.
I looked for resources and couldn’t find any good ones, so I thought, “You know what? Forget it. I’m just going to create my own resource.” Creating my own website created my own resource.
Not immediately, but probably three or four months after creating it, I started to see some pretty consistent growth, which was obviously super encouraging. Because I had tried many failed projects prior to this.
What I ended up doing, after being in there for some time and seeing some growth, up and down, that sort of thing, is I actually went on to Facebook and I found a group that was kind of related to people who had similar challenges, and I said, “Hey, is it okay if I post my website in here as a resource to help people?”
Luckily, they said yes. And that was the best message I have ever sent in my professional career, because the moment I did that, and the result from that, was actually the catalyst of me quitting my job.
The catalyst for me quitting my job
Okay, guys, this is really the catalyst of what caused me to quit my job, and when I said, “Forget it, I’m done.”
My website was doing pretty well, maybe 300 to 500 visitors every day, which was a pretty big deal for me, because like I said, I’d had failures before that, but this was doing pretty well.
Then, all of a sudden, traffic started flooding in. What had happened was that I was sharing the content on Facebook–and I don’t know exactly how this happened–but I shared it there, and a ton of members in that Facebook group ended up sharing it publicly.
Because of that, it ended up going very viral very quickly. You can see the trajectory and the big climb that we saw in the graph below. In one day, I had 15,630 people, which was crazy, never even had anything close to that before.
I actually had to call my host in a panic like, “Hey, can I handle this? How can I handle this? Let’s scale it,” and I did, and the website actually didn’t crash, so it all went pretty well.
If you’ll notice, in the same month (February of 2016) I had earnings of three to six dollars per day, and then all of a sudden, one day I made $331. For me, that was the game-changer. That was the thing that made me realize that “Hey, this is crazy.”
Passive income is real
Passive income is a real thing.
And I had already known that passive income was real before because I was making five to seven dollars per day, but that was like, “Oh cool. I’m making five to seven dollars a day, maybe 150 or 200 bucks a month, which isn’t enough to really get super excited about.”
This was a big change for me, because I was able to make over $300 in a day, and I did it when I wasn’t working. I did it when I was actually sleeping or when I was just hanging out during the day.
And really, the point is that I realized that this was enough money that I could actually survive on it because over $300 per day ends up being around $9,000 a month, which is pretty good money.
This was a big turning point for me because I was like, “Wow, this really is possible.”
When I realized sustainable passive income is possible, it changed the way I thought about making money and even holding down a job
It changed the way I thought about everything.
I think that’s the lesson here that I need you guys to understand; because this is real, it needs to change your thought process, okay? I know you maybe haven’t experienced it yet, but I’m telling you, it will change your thought process if you really look at it.
Let’s do some math real quick. Now, let’s start with $100,000 a year because I know for a lot of people, that’s the goal. The first thing we’re going to do, is we’re going to have $100,000 a year, and we’re going to take out 30% to get rid of taxes, okay?
Let’s just say your salary is a $100,000 (take home) and let’s say that you’re going to bring home $70,000 a year. Then you take that $70,000 a year, you divide it by 52 because there are 52 weeks in a year, and that comes out to $1,346 every single week.
Now we take that number and we divide it by 40, assuming that you work a 40-hour work week, and that ends up leaving us with $33.65 per hour. Now, that $33.65 doesn’t include health care and it doesn’t include any contribution to retirement.
It also, from a time perspective, doesn’t include any of the politics and parties you have to go to and it doesn’t include the commute times that you have to deal with. It doesn’t really include any work-at-home type of things that you have to do for your job, which most of us do these days.
No more exchanging hours for dollars
At the end of the day, you are exchanging your life for an hourly wage. That’s really what it is. At the end of the day, that’s kind of depressing, but that’s what was so shocking to me. And frankly, even at $100,000, it wasn’t a crazy high, hourly wage after taxes.
Because after taxes, you can’t really avoid those. It was like, “Wow, every hour of my life to these people, is worth like 30 to 35 bucks, which is not really that great.”
And I think that’s what people need to realize; your life doesn’t have to be lived in a situation where every hour that you work is every hour that you get paid. There’s a different way–and that way is passive income. I was able to actually discover that and to do some of that myself.
And if I can do it, I promise you that you can do it, because I am no genius. Even though I had some marketing background, most of what I learned in marketing didn’t help me here. This was something that I learned from podcasts and frankly, a lot of failures, and trial-and-error, and eventually, I figured it out.
What I think that you need to take away from this is that it makes sense to create a passive income business. You can also do some consulting and all that on the side, maybe for some more money, but at the end of the day, you’re still trading your hours for dollars.
The key to true wealth is to have something with passive income.
DO NOT leave your full-time job
With that being said, I want to say a few things. Number one, do not leave your full-time job. Don’t do it. Don’t say, “You know what? Ron’s right. I’m done, and I’m leaving and getting out of there.” Don’t just walk away from the job; that’s not what I’m telling you to do.
I think that having a full-time job and a stable paycheck is super important because when you’re working on something like this, you need a paycheck to survive, and having that money coming in every month is going to really help you out. Make sure that you don’t just leave your full-time job. That’s not what I’m saying.
Create a passive-income business
What I do think that you should do, is you should go to onehourprofessor.com–and that is actually a link to a guide on how to create a website. I think you should check that out, and I think you should just do it because it’s super cheap. It’s under $100 for the first year, and it’s really not that big of a risk.
You do it for a year, if it doesn’t work out, you quit. That’s the end of that. But starting is that first step. And on my website, I explain to you how to get a domain, I explain how to pick the right domain, I explain how WordPress works. I give you all the basics, and that’s really what you need at this point.
Focus on revenue per day
When you do this, the key is, especially in that first year, understand that it takes time, but generally speaking, you want to try to focus on revenue per day. And set your goals low. In the beginning, think, “Hey, if I could just hit $100 in a month, that’d be great.”
Well, what is $100 in a month? $3.33 every single day. It seems pretty reasonable. That’s not a ton of money to make every single day with a website. Very, very possible. So start low with something like that.
Once you have profit, reinvest it
Once you do start to get profit from it, reinvest it.
If you’ve already started this, you can shoot me an email to discuss it. I’m really a big advocate of this because I want to help people, and I think once you start, and once you see that minute amount of progress, your eyes will light up. You will say, “Wow, this is a real thing.” For me, I had that moment. I want you to have it as well.
You also need to understand that when you are making money, start reinvesting that money into the business and use that money to leverage or to purchase other people’s time. You and I, we only have so many hours in the day. And especially when you’re working a full-time job like I was, there’s only so much you can do.
Leverage other people’s time to build the business
But when you start making a little bit of money and you start having other people help you, you’re buying their time and their production as well, and then all of a sudden, you’re twice as productive, while working half as many hours. It becomes a really beautiful thing.
Continue to grow until you replace revenue from your job or have enough positive momentum to quit your job
You need to, from there, continue to grow that asset until you either replace revenue from your job, or you’ve saved enough money and you have enough momentum to where you’re comfortable with quitting. I didn’t replace my full-time income, because $100,000 a year is a lot of money.
At the time, it was a situation where I was getting momentum, and I was like, “Okay, this is it. I have some momentum. I have money saved up. Let’s jump.” But it was a calculated jump for me. It was a “calculated risk,” as I like to call it.
Once you’ve done this once, rinse and repeat but never work on two projects actively at a time
And then once you’ve done this, and you’ve done it once with one website and everything’s gone well, and you’ve got a team, and everything’s kind of on autopilot, at that point, all you need to do is repeat the process with a different website. It really is that easy. I know that it sounds super complicated and crazy, but it really is that easy.
From here, what is it that you could do? You can click here and read “The Truth about Online Business.” It shows you some of the things I learned, and it gets into more detail than what I just told you. But there’s also a free area there that is going to tell you how to create a website. Check that out too, I think that that’s really important.
And like I said, if you guys are hesitant, just shoot me an email. You can find my email on my website. I do actually answer my emails. I want to hear from you guys. I do want to help you with this. This is my passion, this is what I really enjoy doing–helping you guys.
If you are willing to start and actually commit to it, then I’m more than willing to help you out with it. Let’s go ahead and get started today. If you have any questions, let me know.
That’s it, you guys. That is what it was that caused me to leave my six-figure job. And I’m so happy that I have. I wish I would’ve done it earlier, but I just didn’t have my moment yet, so I couldn’t.
Thanks for reading; as always, I really appreciate the support.