The Work From Anywhere Podcast

Send us a text

In this episode, I’m going to continue the Digital Landlord series of discussions by talking about creating passive income with zero dollars out of pocket. If you want passive income, you need an asset to generate it.

When I started creating my first digital asset, from day one when I had zero sales, I knew how many sales it would take to be financially free. I knew my target was 1000. I had a business at the time and I was putting everything back into it, so I had no money to be spending on creating things. I started by selling the asset, then moved on to creating things.

Look at Tesla. The pre-orders for the Cybertruck are already through the roof, and it’s not even been made yet. So, what can you learn from this? You can pre-sell your asset before it is finished or even created. I’ve done this for all sorts of things from apps to online courses. It’s not abnormal to pay for something up front. Think about university. You pay your tuition before you’ve ever taken a class.

It works for Tesla because there is hype surrounding what they do. It’s new, exciting and something we haven’t seen before. Humans greatly over value what is new, so to sell your digital asset you have to create something new about it. How? By warning your audience about something good or something bad. For example, if I’m selling an online course for snowboarding and present it as a new way to learn faster, people are going to take notice.

Create that new and different marketing hook, pre-sell and start building your digital assets.

If you want to learn more about selling digital assets, visit https://www.digitalnomad.com/Podcast/

Send us a text

You only need one big idea that hits before you never have to worry about making it again. Your assets produce for you and you have your freedom. So, what should you create for your passive income source? Today we’re going to talk about the 4 ways to go about that so you can win once and be free forever.

The first way to generate passive income is by solving a problem you already have. Back in 2012, I looked at the 27 different cards in my wallet and thought about what it would be like to have digital access to them. I paid $1800 for someone to code the app and I launched the Wallet Plus App. Look for something that is an everyday annoyance that others will want solved.

The second strategy is to think about what you do in your free time. Can you monetize your hobbies? Is there a way you can create a course to help people learn what you are already good at? Look to target your content to the beginner market - that way, you don’t have to be a pro to create something that works.

The third way to create passive income is to look at what you do at work. Much like with your hobbies, can you create a blueprint of what you do everyday at work to teach others? Look to ways of passing on skills you have acquired; clone what you already do.

The final option is affiliate programs. You can refer tools you already use and earn a percentage of the commission. No matter who you are, you can do one of these things. Figure out how many customers you need a month to be financially free and make it happen.

If you want to learn more about generating passive income, visit https://www.digitalnomad.com/Podcast/

Send us a text

Today we are going to talk about the truth behind online courses and gurus. Do they work? Are they a scam? Should you invest your money in them? I’ve been on both sides of the industry.

In the last 10 years I have made money in real estate, iPhone apps, magazines, ad revenue, marketing, online courses, and coaching. These are just some of the areas I’ve created revenue from. So, which of these have I paid for courses or coaching in over the last 10 years? The answer is all of them.

Every new skill I have developed is because I have invested in courses and mentorship to make sure I do it right. Many people think that online courses and coaching costs so much money and they don’t yield any results, but they aren’t thinking about the compound interest on education.

It usually goes like this: you enroll in one course initially. You get distracted by work, by family, and don’t see any results. The second course you see more progression, maybe you learn a new skill, make some friends to expand your network, but you still aren’t seeing the results. So, what’s next? You join a coaching program and see even more results.

Persistence is what gets you what you need. You continue to invest in yourself and every progression you make is another tap of the hammer into the stone. You start to see people in your field of interest making money and you realize there is no difference between them and you.

Everything is compounding results. That goes for everything in life, health, wealth, and relationships. Take the risk today to invest in yourself for tomorrow.

If you want to learn more about investing in yourself, visit https://www.digitalnomad.com/Podcast/

Send us a text

We all dream of leaving the rat race behind; of having freedom and being extraordinary. How do you become the kind of person that can do that? In this episode, I’m going to share the 5 millionaire habits that changed my life and that can change yours too.

7 years ago, I was looking at a $1000 cheque for working 30 hours of overtime on top of my regular hours. Now, I have a 7-figure business netting over a million dollars in sales each year. Since the minimum wage days, I have implemented habits that have had a profound impact. You can do it too. You just need a simple set of daily disciplines and you can drastically improve your earning power and change your life forever.

The first habit is to figure out what a BIG problem is for people and solve it. Look at health, wealth, and relationships. Look for a problem so big people will pay you to solve it. Second, implement change in how you spend your free time. Spend it learning; spend it pursuing self-improvement.

Third, find something good to say, say it well, and say it often. Put it out there for people to see. Number four is to use leverage. Most people think financial leverage is the most important, but there are other types you can utilize. Look at technological leverage and look at human capital. Get a team so you can focus on your zone of mastery.

Finally, the fifth habit is to take 100% responsibility for yourself. Don’t come at life with a victim mindset or parse out blame to outside factors. Changing your financial future is amazing, but the real journey is becoming a person of value.

If you want to learn more about getting social media marketing clients, visit https://www.digitalnomad.com/Podcast/

Send us a text

How many times have you said that you were going to start your own business, only for life to get in the way? The key is to keep trying. It’s not too late to get your business started. In this episode, I’m going to tell you about the 5 best business types to start in 2021 so you can figure out which one is right for you.

Ecommerce is a great starter business. You sell products online and build a customer base. The downside of this approach is that there is not much profit, but it does help you to learn about systems. The second business type is offering productized services. For example, you offer marketing services to other business through a standardized process. If it can run without you being there, then it’s a business.

Affiliate marketing is essentially acting like a sales rep for products and earning commission on sales, though it does provide lower margins than owning your own business. Next up is coaching, a business that has been expanding for the last decade. You can charge premium prices, but it is a time consuming and less scalable option.

The final business type is offering digital products, such as courses. This is an approach for you if you have already perfected a process and can distill it into an online course for people to follow. While this is a somewhat easier approach, it is harder to sell because people want that personal interaction they get from coaching.

Finally, if you are looking to start your business in 2021, do what interests you. Remember, if life gets in the way, just come back. The best day to start is today.

Find out more about ClickFunnels: https://www.clickfunnels.com/

If you want to learn more about getting social media marketing clients, visit https://www.digitalnomad.com/Podcast/

Send us a text

Why don’t most people have sources of passive income? It’s usually because they haven’t built anything first. You don’t just magically get passive income. First, you have to create something that generates it. Today I’m going to break down my 7 sources of passive income and tell you the biggest mistakes people make when building them.

Imagine that you own a house that you rent out. You’ll get rent cheques every month regardless of what you are doing. You don’t have to exchange your time to generate it, but it takes time to build these assets. You have to build it properly before you can see the dividends. So, which source of passive income is right for you?

First up there’s digital products. Take what you are already good at and sell it online.

The second source is software. You can create apps or browser extensions; you don’t need to be a developer. You can invest in hiring someone who can do it.

The third source is affiliate income. This is where you refer customers and receive a cut of what the customer pays your affiliate.

The fourth source is credit card rewards. Trust me, if you are spending thousands of dollars each month on marketing and recouping it from customers, the cash back rewards add up.

The fifth source is ad revenue. For example, if you have a YouTube channel, you get a mailbox cheque each month for ads they run on your site.

The sixth source is forced appreciation. Buying property low and selling high.

The final source is rental income. If you travel or have multiple properties, put them on Airbnb.

Remember that passive income takes time to build. Put the work in and see how you can grow your revenue.

If you want to learn more about getting social media marketing clients, visit https://www.digitalnomad.com/Podcast/

Send us a text

I have some friends who say profit is all that matters, and they have no interest in the revenue numbers of a business.

There’s a big difference between profit and revenue, obviously. A company can have huge revenue numbers and very small profit. So, how do we know if revenue is important or not.

Let’s imagine there are two coaching businesses. Business #1 has $100,000 in monthly revenue, and Business #2 has $25,000 in monthly revenue. Which of those do you think is better off?
 
 It’s hard to say for sure. Business #1 is most likely spending money on ads to bring in customers, paying salespeople commission, etc. It’s probably a business that doesn’t depend on one person to run. Let’s say this business is bringing in $20,000 of profit.

Business #2 is a solopreneur coaching business that’s also bringing in $20,000 of profit, but this business depends on one person to run. They might be working 80 hours a week, and as soon as they stop, no money is being made.

In my eyes, Business #1 is clearly superior. Any person that says revenue doesn’t matter is missing the whole point of a business. We need revenues to support the business and scale it.

Business #2 probably can’t scale very much at all next month, but Business #1 can probably double their revenue and profit. See the difference?

Revenue matters more than most people think. If you think that profit is all that matters, remember that the order matters. If you want a sustainable business, you need to reinvest your profits into the business.

If you want to learn more about getting your business to work for you, visit https://www.digitalnomad.com/Podcast/

Send us a text

I don’t watch sports these days, but watching the highlights of somebody’s professional life is still compelling enough that it can almost bring me to tears. If you are a high performer in any area of life, I highly recommend you check out The Last Dance. This series covers Michael Jordan’s career, as well as a look into his competitors and what they think of him.

I’ve compiled ten things I learned from the series that I think will bring me more success in business.

1. If you want to get to the top, you must have an unquenching desire to win.

2. You have to be willing to lose.

3. Not everyone will like you. A lot of Jordan’s teammates thought he was a bully and a lot of people feared him.

4. Keep the main thing the main thing. Michael Jordan was living a humble life and was committed to basketball.

5. Stay in your lane. Often times, we want to go into other industries even though we’re really good at one thing.

6. You might be a star player, but you still need a star team.

7. Make smart business decisions. Michael Jordan made an important business decision to become a star player when they were not common in basketball.

8. It comes down to the very last shot. The difference between first and second is so small, so you need to have an edge.

9. Victory comes from going to the extremes of human experience.

10. Enjoy the ride. It’s great to win in business, but in the end, we’re all humans and we have to come to terms with that.

If you want to learn more about finding success in your business, visit https://www.digitalnomad.com/Podcast/

Send us a text

Let’s talk about failure. In business, there’s two types of failure: temporary and permanent. The ultimate failure is never going back and trying again; never learning from how you failed. School teaches us never to get the wrong answer, but if you never fail, how can you learn to succeed?

Just like the stock market, you should diversify your risk portfolio in your life and business. Diversifying those everyday risks, big or small, is how you develop yourself as a person and as a product.

Venture Capital firms take money from their clients and invest it in startups. In a study of 2000 investments, 75% of them failed to give a return. What does this mean for you? It means that even the professionals fail 75% of the time. The difference is in where they win. VC firms understand that just one of their investments will return 1000 times over, but they can’t get that return without the other failures. They are professionals, but they can’t predict the future.

From their strategies, you can learn to make consistently good decisions over time. You have to step up to the plate and take a swing knowing that you might not always hit, but when you do, you’ll hit it out of the park.

I’m not talking about necessarily investing money, I’m talking about where you invest your time, energy and education. Make a habit of investing in yourself, but don’t forget to calculate the potential for return before you make that investment. Over time, your risk portfolio will balance out. When you fail, don’t tell yourself that you are bad. Remember that the professionals fail 7 times out of 10, all it takes is one good investment.

If you want to learn more about using failure to gain success, visit https://www.digitalnomad.com/Podcast/

Send us a text

If there was only one skill in business that everyone needed in order to succeed, what would it be? What can you use to improve, grow and set yourself apart from the competition? The answer is copywriting, and today I’m going to tell you how to write copy that can persuade, influence and sell your products.

Copywriting is an art and a science. Just knowing the structure is not enough to create effective copy. You have to be able to hone in on your target audience, know your market and understand the consumer subconscious.

I know it sounds complicated, but there is a way to learn these skills that authors as far back as the 1800s have used. Authors would take their favorite books and copy, word for word, the contents. They weren’t doing this to plagiarize, they did this to train their brain to write a certain way. You can utilize this technique to learn how to write copy. In fact, it’s exactly what I did.

In the first 18 months of being in business I would look at the best sales letters for whatever industry I was working for and I would spend time each day hand copying them to help hone my thinking. This trains your brain to know what phrasing, words and style to use for whichever industry you are in. If you can’t communicate with your target audience in a way that doesn’t trigger their defense mechanism, you can’t succeed.

The main reason I see people fail in business is that they don’t know how to communicate. You have to be able to articulate your value to your audience.

If you want to learn more about copywriting, visit https://www.digitalnomad.com/Podcast/