What are the best ways to earn from home?
AFM ERFANUL ISLAM ,PRINCE2?
Software Consultant l Project Manager (ERP, Customize App) l Web App developer (PHP) l Oracle l MySQL l Data Analyst l UX l GIS
This is a really cool exercise that I learned at a private mastermind.
It's about how to never worry about cash flow again.
If you want to just read through this, it'll make sense. But you'll "get it" easier if you actually get a pen and paper and do it with me.
First, draw a line down the middle of the paper from top to bottom.
At the top of the left-side column, write "Month-To-Month Expenses".
At the top of the right-side column, write "Daily Breakdown".
What we're going to do is fill in ALL your expenses...then reverse-engineer it...and I'll show you how to never worry about cash again.
In fact, we'll use my figures and what I spend on life, business and fun.
Let's start with the Month-To-Month expenses. This is off the top of my head but it's in the ballpark. Every month, I pretty much spend:
$2,700/mo house payment
$2,000/mo for various insurance
$5,000/mo monthly investments
$3,900/mo for charitable contributions
$2,000/mo for groceries/restaurants
$1,000/mo for software/services
$200/mo for gas
$500/mo for utilities
$500/mo for entertainment
$400/mo for office rent
$2,000/mo for miscellaneous expenses
Got it? The left-column is for all your living expenses as a monthly figure.
Okay, now, here's what you do on the RIGHT side under "Daily Breakdown". For EACH item:
1. Multiply the expense by 12 to get an annual figure
2. Divide that by 365 to get a daily figure
Do that for each item.
Okay, now, put your pen down and let's look at what we've done. You should wind up with something like this...
If you total up all my numbers, I need to earn $664/day to pay for my existing lifestyle.
That's ALL I need to generate and I can forget about money for life.
See, when you're trying to figure out how to "get the money thing figured out", it's REAL easy to assume that you need to earn a massive income to live your ideal lifestyle.
But that's not true!
For instance, if you add my numbers up, you'll see that my lifestyle costs around $20,000/month.
If I was just starting out in a business, that figure would be STAGGERING. It looks really intimidating when you're just starting out. But, when you break it down, it becomes really manageable.
Here's something else you can do...
Focus on checking off these expenses one at a time.
For instance, I only need $88.76 per day to fund my house. That's all. And I live in a pretty nice house.
But, when you're starting out in a business and you're trying to set your goals, doesn't $89 per day sound much more attainable than $2,700? That's something that you can get your head around. And it won't seem intimidating.
Now, here's the REAL question you need to think about...
Have you got what it takes to earn $89 per day?
Answer: you do. Trust me when I say: you absolutely have what it takes to do that.
This is one of the reasons why my new income project is so exciting to me. Because it provides really simple and easy income targets that are SO easy to match up with your expenses.
Instead of trying to convince people to spend big money...
...you focus on offering people something that they want that 100% of them can afford.
All of a sudden...
With ONE new income stream...
You've got money flowing in every day...
And you're checking expenses off that list.
And it's so simple to do because, as an authorized reseller, you're keeping 100% of the money when your customer buys a product. No more tiny 5% and 10% and 20% commissions.
In fact, check this out: if you got just ONE customer per week in this business...
If it took you all YEAR to get 50 customers...
...You'd be earning over $100,000 per year in residual income!
That's not theory.
That's the math.
I did this in ONE week when I got started.
In fact, after just a couple of weeks, this business is already paying over 75% of my living expenses....and it climbs every day.
I hope all this makes sense.
See, the whole point of having a business is to make life EASIER. Not harder.
By doing it this way, I'm not PUSHING myself to make $20k/month so I can "just pay the bills".
Instead, I use a system and a business model that creates daily positive cash flow. That way I can spend my time doing the stuff I enjoy doing....not worrying about money.
If you didn't write your numbers down yet, please do this exercise for yourself.
Questions to ask:
1. How much do you need to earn in a DAY to completely pay for your house?
2. How much to pay for your cars?
3. How much to pay for your house AND your cars?
4. How much to pay for all your living expenses?
Figure out what your numbers are. Don't overcomplicate it.
Then find a work from home business model that will generate at least your daily bills so you can stop worrying about money. I personally prefer affiliate marketing for achieving my daily goals.
I hope this helps ground you in what you need to earn to make a living from home.