Friday, July 3, 2009

Distractions, Mentors, and Thoughts About Learning to Create Passive Income Opportunity

As someone who is relatively new to making money online, probably my single biggest distraction away from creating my own passive income is the time I spend on other people's blogs. I find blogs to be both a blessing and a curse.

Blogs are a blessing because I have learned a lot of valuable information from several free blogs out there. These sites have helped me out with more information than I could possibly describe. The problem is, when you are new and just learning a skill set, too much information can be paralyzing.

I was in a PhD program for a while - actually wrote half of my dissertation before I changed courses and decided to pursue other interests. Anyway, the program was in Counselor Education and Supervision. I learned a tremendous amount about the psychology of an internship and how people best learn, but I tend to forget it often myself. The interesting point I want to bring up from that education is that newbies do not learn best from experts or gurus. The problem is that by the time you are an expert or a guru, so many things have become intuitive or automatic to you that you don't even think of explaining them to a brand new apprentice. And often the apprentice is too new to even know what questions to ask to get that information from you. Newbies actually learn best from novice, novices learn best from those that are at an intermediate level, and so on. It is always that one-up level that provides the best mentor match.

So that brings be to why spending so much time reading other people's blogs is a distraction in creating my own passive income opportunity. First, its difficult without spending hours and hours of research to tell whether someone who speaks with a voice of authority actually knows what the hell they are talking about. People even off of the internet have strong convictions and many can even argue their point well, but that doesn't mean that their information is actually correct. Second, because of number one it becomes much easier to gravitate to the guru's blogs than to those intermediate folks who would provide a better level of tutoring and mentoring for me. When you are first beginning anything, almost everyone pretty much needs a concrete set of rules to follow - it doesn't matter whether its plumbing, counseling, nursing, or internet marketing. This is a UNIVERSAL developmental stage. Gurus can have a difficult time giving you a concrete set of steps and often will contradict themselves. This doesn't mean they are wrong, but there is a completely different thought process that happens psychologically speaking in the novice versus the expert.

Once you follow a set pattern and become accustomed to it as well as have many mistakes under your belt, then you become more effective and can creatively adopt your own procedure. Unfortunately there aren't many ways to speed up this process other than dialoguing regularly with a mentor. In counseling, we call this clinical supervision and it happens weekly for a minimum of one hour for two years in grad school and usually at least two years prior to reaching your full licensure. The other thing that is tricky is that the internet is constantly expanding and the rules keep changing daily, unlike counseling where if you stick to learning a tried and true method, it will work even if there are newer methods available.

So I spend valuable hours of my day in forums and on blogs and don't get nearly the amount of things done that I could if I had more organized supervision like when I was getting licensed as a counselor and as a supervisor. These distractions limit the amount of mistakes that I make, slowing down the rate of learning. I have gotten better, and have found a system of mentoring in The Keyword Academy that I believe will work for me. Court and Mark's instructions are very step-by-step in their videos, even if sometimes in talking they contradict themselves (at least Court seems to be more of the level of an Expert than a true intermediate teacher), but its the best alternative I have found so far. Now I just need to stop reading everyone else's blogs for a while until I have more time!

Thursday, July 2, 2009

Building a Passive Income Opportunity: The Business Plan

So up until this point, I have never actually sat down and thought about, let alone constructed, a business plan for my online ventures. I'm getting serious at this point. I can see a lot of potential for making money online through adsense using either my own blogs or even following in the footsteps of the recent Hub Challenge. Today I am buckling down and getting more focused about creating my passive income opportunity. In that line, here is the tentative business plan that I have developed:

  • Get more organized and focused and stay on task - I have a lot of problems staying on task and avoiding all the shinies online. If you are like most people, then you probably do too! Well, today I am buckling down and putting my nose to the grindstone. Its long past time to get serious, but here it is!
  • Develop and diversify freelance writing opportunities for immediate cash flow - I left a job that paid well that I absolutely hated at probably one of the worst possible times. Yep, I goofed, but now I need to focus some on bringing in the immediate cash while building my passive income.
  • Create and maintain a blogger blog related to making a passive income online - that would be this site! Obviously due to my financial situation at present, I will be building my passive income online through free to use sites at first and focusing mostly on adsense. I have created a few affiliate sites in the past and I'm just not sure I've found my niche yet as I'm not a good "hard" sell lol!
  • Create a minimum of 200 hubpages across 2-3 accounts - if there was one thing that the hub challenge showed, it was that making a livable passive income on hubpages is absolutely within reach, but it does involve throwing as much shit up against the wall as possible to see what sticks! Last month I was slow and pulled in only a little over $10 from my hubs. This month I would like to increase that to the triple digits. I believe this is completely possible IF I maintain focus!
  • Short term – fix Squidoo lenses to meet the coming policy changes - ugh, I am not looking forward to this and have been putting it off for a bit. My affiliate sales off of Squidoo have been low, but they are trickling in so I need to go through and make some changes.
  • Limit reading of other peoples blogs (see first goal!) - Hello, my name is Temperance and I'm a blog-a-holic! And yet, all this reading of other people's blogs will NEVER help me create my passive income opportunity. Only doing something will!
  • Get better at targeting amazon.com sales on hubpages after creating 200 hubs - Not going to face this just yet but I definitely would like to see how I could do better...er better being relative to ZERO. I laughed when I got an email from Amazon today saying something like "hmm, you've been with us for a month now and made no sales, need some help?" Duh - on the other hand I'm not really targeting Amazon sales on hub pages right now but the capsules add nice pictures of products which I do like!
  • Increase my ability to quickly conduct better keyword research - until I started looking for paying keywords online, I thought my research abilities were bar none. Apparently I don't shop enough! I need to practice more of putting myself into the shoes of Joe and Sally consumer and thinking like they think when approaching keyword research.
  • Reinvest back some profit into unique article wizard or something similar as well as dragon speech naturally to speed up article writing. Backlinks are probably the most important thing you need to develop to keep up a passive income online. UAW comes highly recommended by several folks so I will be giving it a try once the income level increases. The same with Dragon Speech - anything to speed up my article creation would be wonderful at this point.

Welcome to Passive Income Opportunity with Temperance!

Hello and welcome to my blog about my journey into creating and sustaining the perfect online passive income opportunity! I am far from my eventual goal of being able to make enough money to live off of while I sleep, and unlike what many internet marketers would have you believe, its a lot of hard work creating a passive income opportunity.

Hard work aside, I am determined to generate a passive income online and never work for "the man" again! I don't claim to have the answers to life, the universe, and everything, but if you join with me on this journey we can keep each other accountable, learn, and grow together in developing our individual passive income opportunity!

If you would like to join me in this journey, don't forget to "follow" me to the right to keep yourself in the loop as I update this blog!