Stop Trading Time for Dollars – Build Leverage Instead!

Back in late 2009 and early 2010, I was trying desperately to figure out how to turn my blog into a business. I was earning income, but felt worn out and confused.

Most of my income at the time came from trading time for dollars. As many of you know, my first blog was a career coaching site. My main sources of income at the time were:

  • Scheduling 30 minute paid coaching calls
  • Writing 2 page resume critiques when someone purchased one
  • Fulfilling full resume makeover orders

Don’t get me wrong. I was excited to discover that you can actually earn income with a blog, but I had a problem. What I had was a job and not a business. You don’t have an online business until what you do is scaleable – until then you only have a job.

Successful bloggers have figured out how to earn income without being present. Dan Miller coined the term S.W.I.S.S. Dollars – which stands for “Sales While I Sleep Soundly.”

So, how do you get to the place of total leverage? A place where you determine the when, where, and what of your work? While it won’t happen overnight, it can happen sooner than you think.

Here are 3 areas of leverage you should consider moving toward in your blogging journey.

1. Earn Income While You Are Doing Something Else

Total leverage is when you earn money whether you are working or not. When I first began my journey to leverage, I started in two key areas:

  • Affiliate marketing – recommending products you love that you can receive a sales commission when someone buys.
  • Pay per click advertising – For me this was Google Adsense. By strategically placing ads on my blog, I received income anytime someone clicked on one of my ads. The first month I installed Adsense I instantly made $75. Overtime, that number grew to a significant monthly income.

2. Teach Others Without Being Present

In 2010, I created my first online course. It was an 18-week job search course that I sold for $108. I had less than 1000 monthly visitors and under 500 email subscribers at the time, yet I was still able to sell 15 courses on the opening weekend.

It wasn’t until months later, when I would randomly see orders come in that I fully realized what I had just done. I had completely moved on to the next project and yet my coaching videos were training people without me being present. That is leverage.

Want leveraged income? Use my proven 6-step outline to create your own course by clicking here. 

 

3. Build Recurring Income and Work on Your Own Terms

One of the best ways to build sustainability in your business is by creating a membership site. A membership site allows you the opportunity to get paid on a recurring basis. Notice I have yet to use the words “passive income.” There is nothing passive about owning and managing a successful membership site, but you can work on your own terms. I personally put a ton of effort into my membership site here at BYPU. It is only fair to the members. The main benefit for me is I get to decide the when and where of my work.

Want to join hundreds of others who are learning how to build a successful blog? Watch this video

Bottom line: If you desire to turn your blog into a business, you need to move toward leveraged income.

Question: What ideas do you have for building leveraged income in your business?

    Jonathan has been blogging since 2009 and is still in awe that the Creator of the Universe desires to have a relationship with him. His passions include spending time with his kids, reading, March Madness, surprise get-a-way trips with his wife, and watching funny YouTube videos.