One of the great ways to make life simple but productive for you is to automate your income putting it to autopilot. This may not be so easy to do at the start, but once you set up the system, you will have built an income stream that will need minimal effort from you to maintain.
Here is how you can go about simplifying your life by automating your income as discussed by Tim Ferris it in his bestseller book, “The 4-Hour Work Week”. Other top bloggers and authors such as Brian Tracy and Robert Kiyosaki refer to it as “passive income”.
First of all, aim to SIMPLIFY by focusing on what is really important in your life and while doing so, to enjoy calmness and stress free life.
Many of us support our lifestyles by working 9 to 5 for our paycheck as salaried employees. There are times when we have to perform extra tasks to augment our regular pay to meet our financial obligations or to save. There is nothing wrong with this way of earning our living which is what most of people normally do.
However, have you ever considered how this system of earning makes your life complicated? It makes your day-to-day living stressful, boring, and very tiring by endless meetings, neck-deep paper works, incessant phone calls, and endless email messages.
Compare this situation when you have put up your own business, small as it may be at the start, or come up with an eBook which you can sell and resell many times over, earning a comfortable income each time. Putting up your own business may require you to invest much effort, time, and money in the beginning but once it has all been set up and running, the ROI becomes well worth your initial investments.
When you have a steady stream of income pouring in, all that will be required of you is a little effort and a small amount of time to maintain the business and support your dream lifestyles. You can now bid the stressful corporate life goodbye. This is what ultimate simplification means!
Ways to Automate
Income There are many different ways to create an automated stream of income. Her are some ideas to open your mind to the possibilities. They may not guarantee a 100% success in these ventures (all business carry some risks) but with some smart moves and extra work, you can be a success.
• Create a business. Putting up a small business may seem scary, even unthinkable to many. However, if done with caution and prudence, it may not cost that much, at least financially. Do some searching by talking and getting advice from those already in a similar business. Go into a business you are passionate about or is familiar with so you will already have an idea on who your customers will be and what they actually need. The possibilities of a small business are endless.
• Opt for Online Business. It is much simpler to operate. The initial costs are much lower than putting up a real-world office or store because there will be no real estate to rent or buy, no furniture to purchase, no utilities to set up, and you can automate almost everything. You can avoid hiring employees by contracting to freelancers for tasks you do not want or cannot do yourself.
Putting up your own website should not cost you much if you research and shop around on the following steps before you start your online venture. Prices may differ depending on the provider you choose:
- Purchasing a domain o Choosing a web host
- Getting a good web designer (you can do this yourself with some training)
- Buying CPC ads (such as Google or Yahoo)
- Installing a checkout system in your website ( Google’s or Yahoo’s are among your choices)
Products for Online Business. Although you can offer services, it is much easier and profitable to choose tangible products which you only have to create once and can resell it many times over and earn each time. To put a business, you have to invest time, effort, and money. For beginners, money is usually the biggest problem to face. If you budget is limited, you may start with low-cost, low-maintenance products such as “how-to’s” eBooks, DVD, or CD. All you need is a home computer to mass produce and sell these items at low prices.
You can also retail actual products such as gadgets, real estate nutritional products which you offer online similar to what eBay is doing. You can also engage in affiliate marketing or a membership-type website. There so many options open for you to generate income online by capitalizing on your expertise or strength.
First Test the Water. Before going full blast with your business venture, it is wise to test it out with some print ads in niche magazines. You may use Google Adwords for this purpose. Set up your website to take orders, place the ads, and monitor the stat for any demand. If the result is encouraging, you may begin production at once. If the demands are not good, check where you may have gone amiss—in your ads, or in the niche you are into, or maybe your product itself, then work on the solution accordingly.
Automate the Business. For this, Tim Ferriss’ The 4-Hour Work Week is a great guide to make this happen. Once your website becomes operational, try to automate every part of the business. Outsource tasks you do not want or cannot do effectively to freelancers or through a contracting company like Mr. Outsource (www.mroutsource.com) who can offer you the services you need at much convenient and cost-effective way.
For operational jobs like taking the orders of customers, contacting and placing of orders with a manufacturer, processing of credit card charges, and handling of shipments and deliveries, etc., there are contracting companies you can work with.
Enjoy the Magic of Automation. Once get everything automated, all that is left for you to do is to monitor things to ensure ever thing is running smoothly as planned. Now, you can free yourself of your boss and of your stressful 9 to 5 job and just watch money filling up your bank account!
• See also: Tim Ferriss – 4-Hour Workweek Video Summary + Highlights: