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Do you want to create something passive that makes money while you sleep? Stay tuned!
I’m currently living in a van (yes, by choice) and traveling across the United States. Today I am in the Florida Keys and have not worked at all! That being said, here is how much I have made…
How is this possible? When I was growing up, I was taught that the best way to make a lot of money was by climbing up the corporate ladder. Nobody ever told me that I didn't have to work 40 hours a week to make a liveable and comfortable income. I never would have imagined that I could sit on the beach, kick up my feet, and make a full-time living.
No — I don't sit with my butt in the sand and drink mai tais every day. That’s not what the epitome of making money online and being successful is. This post is about teaching you how to save a little more of your time and how to turn your side hustle into a passive hustle.
So far, you've learned lots of different ways to make money online. The strategy that I’m about to share with you applies to all of them. My 30-day free course is geared towards beginners so you're probably not making a full-time living from the internet just yet. If so, I’m positive this post is still worth your time to read.
Concept #1: Outsourcing
Disclaimer: I know that mentioning this strategy is going to upset some people. I am here to share what has worked for me, and this just happens to be one of them. You don't have to take my advice. Or you can! Your call.
I was born and raised in America; it is a blessing to live here. There are other places in the world that the value of one dollar means so much more than what it does here. Tim Ferriss first taught me about the concept of geoarbitrage which is basically using one currency to buy goods or services from a country where the initial currency is worth more. This means that those who live in a place with a strong currency can hire smart and intelligent people from outside countries for less. This way, you get the employee you need and someone across the world is now making a good chunk of change.
I have 6 people that help run my online empire:
#1: My Dad
My dad is retired and I have to pay him in American dollars (you're welcome, dad!).
#2: A Blogger
My blogger lives in Iowa: she’s awesome! I also pay her in regular ol’ dollars.
#3: A Video Editor
I recently hired this position and they live in California.
#4, #5, and #6: Full-Time Virtual Assistants
My full-time virtual assistants all live in the Philipines. One applies to affiliate programs on my behalf, one helps launch ads, and the other manages all of my customer service inquiries. I pay all of my assistants an excellent salary. The only catch is that it is in the Philippine currency. In American dollars, their pay converts to around $5 an hour. Now, before you go judging me and say that I’m not paying them well, do a little Google research. You’ll learn that my virtual assistants are making good money. On top of that, I give them a profit sharing bonus and, to say the least, profit has been pretty good lately.
Typically, having an assistant was only something reserved for the ultra-rich. Because of the internet, this is changing! What are some things that you are currently doing that feel like busywork? What tasks do you just not have the time to do? What if you could hire these positions out?
It was really hard for me to let go of certain chores when I first hired my assistants; I felt like I needed to be in control. I feared for the quality of my brand. That being said, I quickly learned that there were many things I shouldn’t have been doing in the first place!
When you outsource, it helps make your progress go 10 times faster. As you get into the flow of your side hustle, you will figure out the things you like doing and the things you really don't like doing. And then, you’ll figure out your superpower. This is the skill that keeps bringing you money the more time you spend doing it.
My superpower is ads. The more time I spend creating them, the more money I make. I have tried to outsource every single other task so that I can devote as much time as possible to ads.
What do you think your superpower is?
The website I use to hire my virtual assistants is onlinejobs.ph. It is basically a website where interact with and interview people. I usually interview over a chat so that I can make sure their English is good and that they understand what their work is. Sometimes I’ll even hire them on a trial by asking them to do a small task so I can evaluate their effort and quality.
If you make $40,000 a year, you make enough to hire a virtual assistant. It all depends on how you view the value of your time. Take your salary and divide it by 120; this represents how much money each hour of your time is worth. As long as it is over $5, I can promise you that you have enough to outsource.
Concept #2: Funnel Ads
The second way to make passive income is through a funnel ads process. I have something set up called programmatic ad budgeting. I will go into the technical pieces on how to do this in a later video. For now, I need you to understand that the basis of this concept goes like this: if and then.
IF a sale comes in AND the cost per sale is higher than my desired rate, THEN I decrease my budget.
IF a sale comes in AND the cost per sale is lower than my desired rate, THEN I increase my budget.
Programmatic ad budgeting is how I’m able to sit on the beach, kick my feet up, drink mai tais all day (again, no this is not what I do), and still have my business making money. Although I’m not physically working right now, my ads are working. I know, running ads can be scary! However, with this strategy, if any ad moves outside of your parameters it will simply turn off. No more constantly managing ad campaigns!
What do you think of outsourcing? Let me know, honestly, if you think it’s strange or something you would actually consider. How about programmatic ad budgeting? Comment as well if you’d like an in-depth tutorial.
A passive business takes time to build and grow. Hopefully the concepts I shared with you today will help cut down on that time and launch your side hustle into something amazing.
Thanks so much for reading!
Peace and God bless.
For the complimentary worksheets and resources, go to adrianbrambila.com/30days.
I make new content every single week, so be sure to subscribe to my Youtube and follow my Instagram @brambilabong and TikTok at @AdrianBrambila. I also have tons of resources and courses on my website that you won’t want to miss. Head over to www.adrianbrambila.com to learn more about what I do and how I live a financially free life.