Watch the video, or read the Blog Post below.
Recently, I had to take some time off work and it really reminded me just how important it is to build a business that provides into to you without your need to actually work and focus attention on it for a bit.
Some call this passive income, and while I feel it is a misleading word, some business models definitely offer you the ability to not have to work for money. BUT, to get to this point and have income be passive income, you NEED to put in the work for a long time and mostly...it is unpaid work.
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You can't launch successful products with dropshipping and then take a month off after. Well, you could live off the profits for a bit, but what's going to be there after you come back from your margaritas and tacos down in Puerto Eescondido?
Having been doing e-commerce for 2 years, I've got a large email list which my email manager write content and sends emails to. This is passive for me. Being, it doesn't rely on me doing the work. BUT, A LOT of work went into building this list over the last 2 years.
In this video I explain the 2 main ways I plan to build and grow a special type of income for my future self - one that doesn't equate time with $.
How I Earn Passive Income and Live Carefree
Without a clear goal in mind, anything that you are doing in life is basically meaningless -- if you are trying to woo a girl with no intention of keeping her for good whatsoever, then you are just playing around with the feelings of everyone involved. At the end of the day, either parties (or both, for that matter) will only get hurt and everything will go back to square one. If you are on the hunt for something and you have zero idea about what it is or even where to find it in the first place, then you are just running around in circles, wasting away your time and energy.
The same applies to starting and running a business. What is your end goal? Is it to make money? Well, yes, I mean everybody works to earn for a living, but you've got to think further than that. If and when you finally have that money to pay for your daily expenses and even investments for the future, what are you going to do from then on?
That's right, the ultimate goal for starting and running a business is to live life to the fullest with a sense of financial security, although as earlier mentioned, you cannot just take a long time off work if you still want to make money that won't be used for paying bills.
The WagePirate Pledge
I have to admit, when I first started WagePirate, I thought that everything that I was going to post were things that would have anything to do with dropshipping and online business. But throughout the journey, I realized that my personal end goal was not actually just to earn a living, but to also find ways to make it easier for you to start your own business and live your life exactly how you want it, worry-free, hassle-free. I want to help you run a business that doesn't require you to work every day to reap the benefits and get income from. Thinking about it, now, the main point that I want to get across using my channel is to help people make money online -- and not just to document my journey online.
Take it from me -- there was one point in my business journey wherein I had to completely get off work for four or five days, but even so, I still had more than enough money to pay rent and other living expenses, and this is probably the ideal scenario for all of us dropshippers and business owners. We don't want to have to wake up every day to make money for other people and deal with your own problems; wouldn't you rather just have the time to do your own things and handle your own issues as they come up?
Making Money Through Email Lists
Obviously, the number one way that I make money online is through dropshipping and eCommerce. I have one store that is basically my bread and butter, the source of my funds for expenses and just overall a really good asset.
We started from a single product and built our brand from there. Over the course of a few years, through hard work and constant efforts, my team and I were able to grow our business, which led us to having tons of sales and more than a hundred thousand people on our mailing list at the moment -- and I know that this list isn't going anywhere.
Quite frankly, I would say that my email list is my second best weapon in terms of my marketing strategy (the first one being Facebook Ads, of course), because I was able to get those email addresses for free, and if I do choose to advertise my products using email marketing, I won't have to pay for anything and still be able to get an opportunity for a successful purchase from my customers. Heck, even during those four or five days off work, I can just compose a short email to promote my product, and I'll still be able to enjoy what I am then-currently doing!
Take this as an advice for when you are running a dropshipping store or are planning to build one: invest on your email list and do whatever it takes to make it grow, because when all else fails (e.g. when your social media platform gets disbanded or shuts down, when you have to take time off work due to unprecedented events, when you run out of budget for paid traffic, etc.), you will have a huge number of people just waiting for your message on their inboxes. Your email list is a stellar asset; don't be someone who will let precious resources slip from their fingertips just because they haven't seen its real benefits yet.
Making Money Through Affiliate Commissions
The following method is another one that I use in order to acquire extra income without having to do extra work.
If you have been a follower of my channel for quite some time now, you know that I like to test various software and applications on my own dropshipping stores and let you know my experiences in working with it. Even if the test subject does my store a little bit of harm, it won't matter much because at the end of the day, what I wanted to show you was the way things work within that specific software and what particular pros and cons it can bring. Although I wouldn't really recommend something that would really damage your business and your reputation, or something that I haven't used just yet.
The integrity of my channel is more important than the income that I would get from recommending poor products or poor software.
If you haven't noticed, I also put a few links that will take you to the software's main page for you to test it out for yourself and see if it fits your needs. Those links are called affiliate links, and every time someone signs up for a software using my affiliate link, I will get a small percentage as the developers' way of saying thanks for endorsing their product to other customers.
So, that said, how do I choose which products and software to promote? I usually talk to a customer support team to ask any questions that I may have, or if I'm up to it, I will personally test them and use them for my own stores. If I like the outcome, great; if not, proceed to the next.
Let's Wrap It Up!
Here I shared with you two methods that I am personally using to make more money online without having to pay extra. With these sources of income, you can become one step closer to living the life you deserve without having to worry about expenses or businesses or any other stuff.
As a side note, if you are working countless of hours in your business only to find that you are only making the bare minimum, at the end of the day, it is not going to be worth it. Find ways to improve the state of your business and do not get tired of testing different things just to find the best marketing formula for you -- think of it as one way of investing in your business to be able to reap its true benefits later on.
If you have any more questions about my journey as a web developer and designer, creating the most profitable dropshipping stores, dropshipping in Australia or anything regarding this video, feel free to personally contact me via the Contact Form HERE. You can also leave your comments and feedback below, and our team over at WagePirate will definitely get back to you with a response. For more reviews, news and updates, do not forget to subscribe to my YouTube channel!