In this book, I will share with you my reality. I made $90,000 by selling my blog in just eight months. Not to mention that before this sale, I had made several hundreds of dollars each month from my blog.
For privacy and branding issues, the person I sold my blog to wants no mention. And I respect that. Therefore, I will use the phrase “my blog” throughout to refer to the blog I sold for $90,000. I will also keep my English as simple as I can. I want even a fifth grader to understand.
Why I Wrote this Book
Well, I am not a pro in writing books. I just want you to get the juice of what I am trying to say. I am sharing my journey. Months ago, before selling my blog I was at home reading a book. It’s one of my hobbies to read books. The book was Robert Kiyosaki’s “Retire Young, Retire Rich”. It was during the holidays. This time I had no plans if you know what I mean. No movies, no friends around, just alone. Everyone was pretty much busy making merry.
I read about the market crash that led to … the many financial adversities people face today. The three types of income, assets, liabilities, getting rid of bad debt, and above all was leveraging to be financially free. It’s so much that I learned. I then realized that I was working for the wrong income. That I was never going be free. That I would always work hard for money. I would always be in a financial rat race if I did not act appropriately fast to change my bad financial habits. That was a true reality check.
By this time I had no money in my savings account, no job as I was in college. I struggled with life living on students’ loan to survive in college. The good news is that I had a laptop. I knew it was an asset as it could generate me some money. Internet was free at school. So I searched on Google for the term ‘how to make money online’, as most people today do. I found many results and ideas that promised solutions. I tried many of the ideas. From reading paid emails, taking online surveys, playing games, testing new products, name them. The downside was that none of these jobs paid money that could sustain me in college. I wanted financial freedom. This was the wrong type of income Robert talked about in his book. It was earned income. Good surveys were on average $3 and very rare to find. Paid emails were a few cents worth. And I could play games the whole day to earn less than $5 dollars. I almost forgot about my studies doing ‘odd online jobs’. Not to mention that the minimum payout in these companies was mostly around $50 and above, which in reality I could reach after a couple of weeks. This was tough life.
So I had to change my strategy and I sure did. I thought of starting a local business. The process was very long and needed money that I did not have at the moment. I had good ideas but they were expensive to invest in. From registering a business, hiring an attorney, book keeper…. It was an option I ruled out at the moment.
Then there was the portfolio income which basically is income from paper assets such as bonds, shares, foreign exchange…. I needed money to invest here as well. I needed money to invest here as well. Even though I could start with as little as $100, it would have been a big gamble investing in something I did not understand well. I had to again invest in some knowledge to make money here. Again this was not an option as well at the moment. My last option was to target passive income. Anybody can make passive income. It largely depends on your intellectual property. And I believe each and every one of us is special in a way, so no room for excuses. Passive income is largely the type of income that was available with little work. I would still earn passively even if I was not working, running a business, or investing in portfolio assets. Examples of passive incomes include; royalties from music and movie copyrights, patents, you name them. By the way do you know that 2 PAC still earns from his music even in his grave? Well, now you know. R.I.P 2 PAC!
And a website or in this case my blog was one sure way I was going to create a passive income. Again I knew that once everything was up and running all I was going to was to work maybe for 3 to 4 hours per day. I was not only determined to do so but I also would work at my own free time, anywhere.
This would buy me time to concentrate on my studies. It also would earn me capital for studying to and investing in portfolio assets. And in the long run build and run my first business. When I started this was the main motive, to get money for investments. I knew that with hard work and a little smartness anything was possible.
But starting as I found out was not easy. I literally knew very little about it. From registering a domain to hosting, web design to SEO …, the basics. I wasted a little sum of dollars on strategies that didn’t work. I failed many times. The main reason I wrote this book, to help you avoid the pitfalls of the internet. So that you do not go through unnecessary setbacks in your life, and realize that really nothing comes easy. But if you are smart it gets easy sometimes. [...]