The magic of taking action is the theme of my website. I’ve had good success with the action tools and techniques as it relates to my career, my marriage, my physical body, and the level of fulfillment I feel. But I know one thing is for certain: I must have an income stream that gives me the opportunity to work independently. One such potential income stream is a passive income opportunity I am going to chronicle.
I first want to explain what passive income I am earning now, then we’ll get into what Beachbody Coaching is and why I am going to do it. For purposes of this discussion, passive income is money I don’t get at my full time web development job that comes in monthly (or quarterly in some cases, but I will average it out to the month). I get paid just fine at my full time job, that’s not the issue here :)
What Income Am I Getting Now?
- Google Adsense
- Stock Dividends
- Amazon Associate Sales
- Other Affiliate Products
These are the areas I am making money with right now. I’ve taken action to make websites and learn a few money making techniques. The amount I make is no where near what it needs to be for me to reasonably live on it. That being said, let me explain about how much I get each month from each source.
Google Adsense: On track for almost $70.00 this month. About 80% of this comes from my wife and I’s P90X Blog. The other 20% comes from my first ever website on personal growth, DrJerm. I get a buck here and there from a retired blog as well. This is a major increase considering it took about a year and a half to get my first $100 from Google Adsense.
Stock Dividends: I own about $6,000 in independent stocks right now. I am focusing on higher end dividend stocks. Each month, The dividends are roughly $40.00. I hope to increase this mightily as I get more money to invest.
Amazon Associate Sales: This is probably netting me about $10.00 a month right now or so on average. Nothing to write home about, but still, I can see by doing more video reviews and being creative this amount increasing as well.
Other Affiliate Products: I just started listing products from Commission Junction on my websites. So the income there has yet to be seen – but it is still a source.
I am shooting for $6,000 a month bare minimum to start having the passive income I need to think about living off of it.
The reason I am highlighting this passive income opportunity is because it requires tremendous action. It’s not the same as setting up a few information websites and putting up some ads. But the potential is really high for the coaching because I’ve done P90X (which is a Beachbody product), had great results with P90X, and I’ve seen others who have had great success with it.
Could I fall on my face and lose some money? Absolutely! Not one person could listen to a word I say. I could end up losing some money, no doubt about it. The fear of failure must always be realized. BUT, I’ve created this website to show you the frickin’ MAGIC of taking action – making progress – seeing things through to completion! So I must define what ‘completion’ is for this experiment.
First off, I am going to track this for one year, starting April 1st, 2010. By that time, the total cost will be about $760. This includes $40 for my setup, a $15 monthly maintenance cost for the coaching websites, and about $45 each month I will use to buy Beachbody products and use them – a point volume is required to remain ‘active’ as a Coach. I am still learning about the program and will explain it in future posts as I learn. But suffice it to say, completion is two things for me:
- Make $760 in one year, excluding taxes, from Beachbody Coaching.
- After one year, average at least $50.00 a month in income, from Beachbody Coaching.
Note: this is the bare minimum. If I can make $10,000 a month or more, I’m bringing it. But I’m starting with the basics first.
Couple helpful links to give you an idea of what this is:
So Where Do I Begin?
I first learn from successful people in this area. That part is easy. The hard part is the doing. The persuasion of others. To do this, I must become a master of this program. I must know the ins and outs. I must then get my voice out there and network with others. I must utilize my wife and I’s P90X blog to reach people. I must find a way to add value to those who would bring me income more than anyone else is doing. I must be friggin persistent in my pursuit of success.
That’s pretty much it really. And guess what? I have NEVER done this before!. I have everything to learn here. I’m not going into this as an expert. I’m doing this to show you that you can take action and learn even if you have never done something before. I’ll chronicle next more details about what specifically I must do. I look forward to this challenge and further solidifying credibility by succeeding at this!
Folks: What passive income do you earn? What actions did you have to take to earn it? What actions have you not taken due to fear?