Wouldn’t you love to wake up with more money than you had when you went to sleep? I’m pretty sure everyone would say yes. As a millennial (don’t worry I won’t bite) I know the days of the gold watch and handshake easement into retirement are over. I also share the characteristics of my fellow generation. One characteristic being the desire to work on several different things at one time and having the freedom to do so. And today’s environment it’s important to have a side hustle. All this is great, but time is finite. Enter the passive income stream.
Creating a passive income stream is somewhat of an ethereal concept. Right? I mean it sounds good. You nodded your head yes when I asked if you wanted to wake up with more money. It just seems to be out of reach. So how can you get it done?
I’ve spent a lot of time studying how to market and create passive income streams online. The overarching theme (beyond execution) is content. Yes, okay this makes sense, right? You need to create epic content, put it online, and the masses will swarm, and you’ll wake up a millionaire. Well, I wish it were that easy. Still, it’s easier than you realize.
Your homework to get started?
- Identify your expertise
- Identify your audience
- Identify the unique problem they have which you can solve (this goes back to your expertise. The difference is in this step you want to solidify an offering)
More likely than not these three steps are already on the tip of your tongue. However, I challenge you to think these three steps through.
What do you know or can provide to a specific person that would radically change their world?
There are a ton of ways to turn the passive income goal into a reality. I outlined some quick homework to get you started on the path. If you’re interested in learning more, shoot me a message. I’d love to help you create your passive income stream online.
Choosing a career is hard….especially when we feel the need to know exactly what it is we want to do the moment we get out of college or the minute we decide we need a career change. Something I’ve learned recently is that not everyone knows what they want to do “when they grow up” even if they’re grown—and that’s okay! This was a major relief for me as it can be easy to look around and think that everyone but you knows what they’re doing and where they’re going. It’s okay to be unsure; however that’s not an excuse for stagnation and procrastination. You aren’t going to learn what you want to do by doing nothing. So here are 5 things you can do to help you figure out what you do want to do.
- Say yes. Say yes to new opportunities, to new projects, to new clients. Not sure if you like something….try it! The fastest way to learn is by doing, you can read all day about different paths you can take, but unless you get off your butt and try something you will never know if it’s something you will enjoy.
- Cultivate and incorporate your passions. Are you working in a job that doesn’t fulfill your need for creativity? See how you can work what you love into what you’re already doing. Ask for more responsibilities at your job, take on new projects, even if it doesn’t end up being something you love, you will acquire new skills that you can take on with you for the future.
- Get out there! So much of our life outside of work is lived completely through screens. Staring into the screen of your phone, tablet, or television won’t take you anywhere. Pinterest may be an easy way to kill a couple hours—and find some fabulous recipes you will never make—but it won’t help you advance your career. Spend your free time doing what you love, who knows when a hobby might have the opportunity to turn into more.
- Ask! Don’t be afraid to ask people who have careers you admire questions. Ask them out to coffee and pick their brains on how they got to where they are now. They’ll most likely be flattered, and it’s always a good networking tool to learn about people who are in industries that you’re interested in.
- Don’t be afraid to fail. In order to get a feel for what you like and what you don’t, you have to try things. Just because something doesn’t work out like you planned doesn’t mean your life is over. Learn from your mistakes and move on confidently knowing you now know more about yourself and what not to do! To read more on failing, check out this post from Blonde Chick, Fail Fast. Recover Quickly.
There are so many times in my young life where I’ve sought for clarity and wisdom. Looking for a way to make tough decisions and feel confident in the choices I’ve made. While I do seek council, weigh the options and meet with new people as ways to gain more insight, I still find myself apologizing for the choices I make. Why??
I think we, women especially, are subconsciously trained to be apologetic if/when they put themselves first. Yet, I know as a woman, when I think of myself first then I know I can be my best for others. Think of traveling. When you are on a plane who do they instruct that you secure oxygen for first? Yourself before anyone else. So in our life as ‘selfish’ as it sounds you have to secure yourself first.
Why is there so much interest in the millennial generation? There’s so much discussion surrounding this generation because we are the ones in the workforce – and are coming in with force. So what makes us so different than previous generations? For one, we are comfortable with advancements in technology. We grew up with it. We are the first generation to have fully grown up technology literate, practically from birth.
This fundamental difference is one of the biggest and it impacts how we communicate. I think we can all agree that communication is key in the workplace and can be the thread that keeps you moving forward successfully. No matter the differences there are some common traits that all generations can relate to. Keeping these 5 commonalities in mind can be helpful when landing your first job and dealing with all different types of professionals from any generation.
- To work on challenging projects.
- To receive competitive compensation.
- To have opportunities for advancement and chances to learn and grow in their jobs.
- To be fairly treated.
- To maintain a work-life balance.
Let technology be a staple used for your success but make sure to communicate outside of that security.