Author Archives: Matt Warren

EinsteinEinstein probably the most famous physist of all time. His brilliance changed the way people people think. His theories have lead to nuclear reactors (and bombs), the mind bending time paradoxes, and a deeper understanding of gravity, and light.

He’s also widely attributed to this quote:

“The most powerful force in the universe is compound interest”

Einstein was wrong. Continue reading

leverageThere’s a video on the Thirty Day Challenge blog that has changed the way that I use the internet. The Challenge hasn’t even started yet and there’s already been some really good lessons. This video opened my mind to the power of using sites like SumbleUpon, Del.icio.us, Technorati, Facebook, personal blogs, and Flickr to create a lot of presence over one link. Using all of these services together increases the leverage. Taking this to the next level, there’s also introducing friends to these techniques and have them tag everything you just did.

Check out the video here.

You can imagine the viral nature of this. There’s so many services out there to help get your message out and create links back to your sites.

With the right tools it’s easy to make the entire process quick and efficient. And the effect can be profound.

Find places where there are lots of people and you’ll have an opportunity to get your message out. Remember, the more places where you link back to your site the easier it will be for people to find it. You can use leverage to make the impact even bigger.

st. edward’s crownRoyalties are one of the basic categories of passive income. There are many opportunities to make royalties online with little or no capital investment. That makes it appealing to a lot of people.

College’s make big money with their vast amount of inventions, and payments for royalties. However, without much experience it may be difficult to know where individuals can start.

The common factor with this type of income is that it requires a lot of up front work. This could include building a library of content, or creating designs, or inventing something new. In many cases it also requires becoming well known by doing some self promotion, creating web pages, and finding/building a fan base.

Here’s my list of resources with the opportunity to make you lots of money online through royalties.

Custom T-Shirts and Clothing

There are a number of sites online that can help you create your own products. They provide you with all the tools necessary to build a store front and make sales. Some even expand into more than clothing and allow you to design things like coffee mugs, cards, posters, postage, mouse pads and many other items. Here’s a short list of some of the best out there:

  • Zazzle.com – Zazzle has a lot of different possibilities. They have a very cool interface for designing your products very quick and easy. With their fixed price structure you will make up to 17% on your designs. Zazzle will set you up with a store front in minutes, and they have some widgets to put a piece of your store on other sites.
  • CafePress – One of the older and well established sites. Cafepress is a direct competitor to Zazzle. Their online design tools are a little less easy to use than Zazzle, but their pricing scheme allows you to markup the products from the base price to the appropriate sales price.
  • PrintFection -Specializes in apparel and apparently the quality is superb. Their pricing scheme is similar to CafePress.

For more information about getting into the t-shirt business check out http://tshirtentrepreneur.com/

Selling E-Books

If writing is more your style it’s possible to write a book and have it published online. You can use a site like ClickBank to help sell your book. They will add your product to their library which allows their large number of selling associates to also help with the selling. It’s possible to make good money with e-books, but with the large number of people trying to get into this, you’ll have to do some extra promotion to really sell.

Sell Photos

Have a knack for photography? There are a ton of sites out there to help sell your photos. check out this guy who makes about $2000/month selling photos online. Here’s some good sites to start with:

My post about having a good exit strategy attracted the interest of a consulting company interested in letting my readers take a survey. They raised an interesting point that there is an increasing number of babyboomers out there that have many small and medium sized businesses but don’t have a proper plan for succession. Does that mean that there will be chances for us young folks to quickly take the reins as they retire?

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My ambition is for this site to be a resource for anyone interested in making a passive income. The shtick is that I’m going to be personally attempting to get a new passive income stream going approximately every 5 weeks until I reach financial freedom. Once that happens I will shift my focus to doing what I’ve wanted to do for the past 5 years — build a real business.

There are many sites online that try to sell you on home based businesses with big promises. They almost always require you to pay an up front cost that makes the whole thing seem sketchy. There are also lots of bloggers out there claiming show you how to make money online but their only income is from hitting you up with ads. Yes, this site has ads, but anything I make from them will be re-invested into other passive income generating sources that I can share with you. Continue reading

30 Day Challenge logoThe challenge hasn’t even begun, but I’ve already learned about quite a few things.  Much of it I was already aware of but had never taken the time to utilize.

Here’s a list of things that have changed the way I use the internet over the past week:

  1. StumbleUpon – I used to just use it for fun, pressing that Stumble! button is a great way to find new sites.  It has an uncanny ability to find your new favorite website.  Now I’m using stumbleupon to drive more traffic to to this website by using the “I like it!” button.  It’s an amazing way to get traffic.  Try it out!
  2. Google Reader – In the course they use Bloglines, but I already had opened my Google Reader account.  I had been using the link bar in Firefox to show my RSS feeds and it’s been overwhelmed.  My list was going across the window and then into the extended list.  The RSS reader has really enabled me to keep up to date with way more feeds.
  3. Alexa – Having the Alexa add-on has made me acutely aware of my websites score.  I’m addicted to the score and anxious to see it continue to improve.
  4. iTunes – I’ve used iTunes for a long time, but I never knew that you could give it an RSS feed and it would treat it like a podcast, and automatically download the media and put it into your library for syncing with an ipod.
  5. Using the RSS feed reader I’ve already found another couple of interesting tools.  For this website I learned about the Firebug add-on for firefox and the YSlow add-on that will test the performance and look for html, css, and javascript bugs in my webpages.

That’s just some of the new tools I’ve learned about and started using!  It’s only going to get better.  If you haven’t already checked it out there are some good videos on The Thirty Day Challenge.

This is great news. Alexa rankings, though seriously flawed, serve as a way to rank websites. They use a toolbar that is installed in the browser to let them know approximate relative traffic levels for every website on the internet. This ranking is used by several companies to assess the value of a given website, and thus put determine an appropriate price for advertising on the site.

Until this week the Alexa toolbar was only available for Internet Explorer. Since my site receives a disproportionate number of Firefox users (34%) my ranking is probably not as high as it should be.

It would help me out tremendously if you would download and install the Firefox add on or the Internet Explorer add on. It’s a nice toolbar and not intrusive at all.

Millionaire MakerI read this book a while ago but never got around to writing a proper review of it. The valuable part of this book is the focus on actual numbers and learning some basic accounting. But it also contains a solid path to creating wealth from start to finish.

Loral Langemeier doesn’t believe in aggressive saving into retirement plans as a way to be wealthy. Her plan for creating millionaires is based on increasing the amount of cash producing assets to increase cash flow and passive income. She believes that her process for creating wealth is universal and anyone that follows the plan is guaranteed to see positive results.

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Social NetworkIn my attempt at getting a business running online last month I relied solely on paid traffic by buying Google Adwords. There’s probably a lot I have to learn about buying traffic with PPC (Pay Per Click) systems. The biggest thing that I learned about AdWords was that it’s expensive.

Perhaps it was the words I was bidding on but even with the long tail keywords the cost was still typically in the 30 cents per visitor range. That may not seem like much but considering that a relatively successful blog will get about 1000 visitors per day. It would add up pretty quickly to get any meaningful amount of traffic.

Enter the Social Networks. Continue reading

exitAn exit strategy is a plan to cash out of the business. Even if you plan on keeping the business running forever under your control it’s still important to have an exit strategy in writing. It can be part of the business plan.

The exit strategy serves to keep the business ready in case an opportunity comes to be bought out by a larger company. Many small companies start with the vision of getting either bought out or doing an IPO. With that kind of solid exit strategy goal the business founders are more likely to realize the wealth they’ve been working to create in a business. However, it’s important to have a documented exit strategy for any business. Continue reading