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May 14

Blog Review: The Truth About Making Money While You Sleep

Jonathan Morrow published an interesting blog a couple of days ago titled, “The Truth About Making Money While You Sleep.” He made a couple of interesting points that are thought provoking.

His first point was that getting to where his businesses are so automated that money comes in while he’s goofing off takes a ton of work.

For the past three years, I’ve worked at least 12 hours a day, seven days a week, for stretches of around six months without taking a single day off.

For the vast majority of that work, I wasn’t paid a dime. Rather, I was building a machine capable of running on its own.

That’s what truly successful entrepreneurs do:

We build money machines.

We take our expertise and transform it into systems that run without us. Sometimes that means hiring employees, but in my opinion, the best system to put in place is something infinitely cheaper, easier to manage, and simpler to create right now.

The best advice millionaires around the world have given me is that it takes a lot of hard work up-front in order to become a millionaire. But, it really isn’t work if you do it right, because if you love what you do as much as they do, then it really isn’t work.

Jonathan’s second point is that the best “money machine” you can build is content.  Here’s his “secret” formula.

  1. Find somebody who is good at selling stuff (maybe that’s you)
  2. Create content that duplicates what they do
  3. Distribute said content to as many people as possible
  4. Repeat the process until you have the desired level of income
  5. Go goof off (hooray!)

If you want to “make money while you sleep,” you’ve got to create the kind of content that does the work for you.

Really, that’s it. It’s the whole shebang.

Jonathan makes the point that this is something that not everyone can do. But–and here’s the exciting thing–it is something that anyone can do. You don’t have to be a certain age or have certain qualifications, degrees, certifications, resume’s or a CV. So, as Jonathan says, “Clone yourself by creating lots of awesome content. Distribute that content far and wide. And then goof off, if you want to. Life is short, my friends, and I don’t know about you, but I intend to savor every last moment of it.”


Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

Learn about the book, The Secret to Money Mastery by clicking here.

 

 

1 comment

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