MDW https://www.milliondollarwinnie.com Life by Design with the help from Passive Income Thu, 02 Apr 2020 05:26:45 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.1 https://www.milliondollarwinnie.com/wp-content/uploads/2018/05/cropped-favicon-32x32.png MDW https://www.milliondollarwinnie.com 32 32 Things To Do At Home https://www.milliondollarwinnie.com/2020/03/30/things-to-do-at-home/ https://www.milliondollarwinnie.com/2020/03/30/things-to-do-at-home/#respond Mon, 30 Mar 2020 05:46:07 +0000 https://www.milliondollarwinnie.com/?p=7317 Here are 5 things to do at home while you have nothing better to do and, definitely nowhere better to go.

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We’re spending more time at home now, or maybe all out time at home for some of us. And you really don’t want to be spending your whole day reading the news or just simply watching TV.

It’s important that you make the most of your time right now, because the people who are going to recover the fastest from the coronavirus covid-19 pandemic is going to be the people who didn’t just binge watch Netflix during quarantine.

Here are 5 things to do at home while you have nothing better to do and, definitely nowhere better to go. (please stay at home as much as possible)

Finish a project you’ve neglected

I think I can speak for most of us when I say we all have unfinished projects laying around the house.

We normally have a list of go-to excuses on why we can’t finish them, but at the top of the list is always time. “I just don’t have time for it”

Well, that’s not going to work when you’re stuck at home all day and all night.

This is the purrrfect opportunity to finally get it done. I put this at the top of the list for a few reasons.

  1. It’s great for your mental health
    Getting something done always feels good. But getting something done which you have delayed for so long, feels even better. Everyone’s mental health is vulnerable right now from the constant onslaught of bad news and having out usual outlets to destress taken away from us. Achieving something you had at the back of your mind would boost your sense of morale.
  2. It sets the tone for the rest of your stay at home quarantine experience
    The more you do something, the easier it gets and the more you want to do it. So if you watch TV for a few days, you end up defaulting to watching TV as a go-to activity. But if you do something productive, no matter how big or small, you’ll end up more productive in general.

Get the house organised

The reasoning behind getting your house organised is similar to finishing that project you’ve neglected.

It’s all about mentally setting yourself up for success once all of this settles.

Keeping your living space clean, neat and organised is simply one less thing to worry about once you need to worry about the outside world again. Staying on top of your life is a great psychological trick to feel more confident and ready to get back to work.

Some people think it doesn’t affect anything, but I beg to differ. I know I end up working more productively when my work area is tidy. It’s almost like a reflection of my inner-self.

A tidy living space means I’m mentally calm, cool and collected. When I let things get a bit out of hand and the dishes are piling up I the sink…it’s safe to say I’m probably having issues in another area of my life.

Don’t let staying at home all day becomes an excuse to not stay on top of things.

Learn a new work skill

With people not spending money, companies can’t afford to hire as many staff, which encourages less spending…and it winds up being a very vicious cycle.

This means unemployment is going to continue to increase.

The only way to secure your job is to prove your worth to your employer when they’re making the hard decision on who to sack to cut costs.

Which is why you should try to learn new work skills or employment skills to safeguard yourself for the economic impacts from the coronavirus covid-19.

There are many online platforms that provide quality instruction on a range of topics related to many industries.

Touch up on your photography skills if you’re a photographer. Learn new graphic design techniques if you’re a designer. Improve your spreadsheet knowledge if you work with numbers a lot.

Figure out what skills are related to your job, which you can improve online and start learning.

Likewise, you can learn completely new skills to prepare for a career pivot if the situation calls for it. Some industries are going to be hit badly and there won’t be many jobs left, which means your’e going to have to enter entirely different industries that require a new set of skills.

You can use platforms like Skillshare, or Udemy to find affordable quality instruction. Skillshare has a lot of free classes to choose from.

Learn how to start an online side hustle

But if you’re not confident about putting your financial fate in the hands of your employer, then its time to start an online side hustle instead.

The trend of people working online and creating their own income streams online have only increased year on year. And it’s not going to stop anytime soon with job security being at an all time low. (we seem to reach a new low each year…)

But before you start, you need to learn how to.

Starting without planning or doing any research will just mean guaranteed failure. Trust me, I know, because I’ve tried.

You need to learn from a credible source, but before that you also need to figure out what you want to do. So here are some of the more common online side hustle ideas:

  • Blogging to earn Adsense, sponsorships and affiliate commissions
  • Review site to earn affiliate commissions
  • Kindle publishing to earn royalties
  • Social media manager to earn a salary
  • Transcriptionist to earn a salary

Here’s a few suggestions on where to learn how to start once you’ve decided on what you want to start.

Exercise!

The last item on the list is to exercise!

You can’t go to the gym, you can’t even go on a walk, but your physical health is still important which is why you need to exercise.

And for those who never exercised much in the first place, well it’s a great time to start.

There’s no pressure to sign up to an expensive gym and there’s no pressure to look like you actually know what you’re doing. (No one’s able to see you!)

You can find free workout videos on Youtube for almost every muscle on your body, and for every level of difficulty.

Ya never know, maybe by the time life gets back to normal, you’ll be looking your healthiest and fitness!

Read my tips on how to make sure you actually get work done while working at home.

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Work From Home Productivity Tips https://www.milliondollarwinnie.com/2020/03/28/work-from-home-productivity-tips/ https://www.milliondollarwinnie.com/2020/03/28/work-from-home-productivity-tips/#respond Sat, 28 Mar 2020 07:31:18 +0000 https://www.milliondollarwinnie.com/?p=7314 Here's some tips on how to actually work while you work from home for the first time.

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A lot of people are finding themselves needing to stay home all day, but not just stay home, work from home.

At first glance, many people think it’s great but reality starts to settle in and you soon realise working from home is hard. Really hard.

The cat is constantly getting in the way, the kids are screaming in the background or maybe the temptation to watch TV is too great when there’s no one stopping you.

Here’s 7 tips to stay productive while working at home

Make sure EVERYONE knows you’re working

Everyone that lives with you needs to know when you are working. You need to clearly communicate to others and make this fact clear. Otherwise people will come talk to you, distract you, or even ask you for help with this and that around the house.

You end up never getting into the flow of work because you keep starting and stopping.

Keep to your usual routine

It’s tempting to get out of bed 5 minutes before you start work, because…why not!? There’s no commute or traffic, or need to even look put together.

But it’s important to maintain your morning routine as much as possible. It starts your day off with structure and sets you up with the right mindset to work.

Working in your PJs vs. in your work clothes impacts your performance, because we subconsciously associate certain visual and behavioural cues to separate “time to work” and “time to relax”.

Start task blocking

Everyone at home might know you’re working, but it doesn’t mean you’re going to get a distraction free day. Sometimes, you just need to help out or attend to domestic demands immediately.

What to do then?

Blocking. Blocking is a technique I use everyday when I work from home, because it’s so effective in managing my time.

All you have to do is list out all your tasks out with an idea of how long each task will take. You then do you work one task at a time, picking and choosing which task fits your time restraints the best.

Cooking lunch for the family at noon? Pick a few tasks you can complete by then.

The kids are asking you a gazillion questions? Do easy short tasks you can easily multi-task with.

Have a designated workspace

Similar to keeping to your morning routine as much as possible; having a designated workspace helps you get into the mindset of being productive.

Familiarity and routine allows us to focus on the important stuff…like actually getting work done, instead of where to plug the laptop, gathering all your equipment, or finding out the sun shines directly at your eyes during noon and needing to change spots.

Find a spot at home to work, and make it your permanent working spot.

Set healthy boundaries

Work and life starts to blur, when you work from home for long enough and your job is highly demanding or stressful.

There seems to be no difference between when you’re “off” work and when you’re “at” work, and this is a big problem you need to avoid. Because prolonged stress lowers productivity and work quality.

It’s important to learn how to keep your work and your personal life separate, even if the two are sharing the same physical space.

Get up and walk around

Just as you might go to the water cooler for a short break, get up and walk around the house.

We can only focus for so long before we feel our heads getting heavy and our productivity slowing down to a halt. You may be tempted to push through the lull, or give up entirely and watch TV.

BUT you mustn’t!

Get up, stretch and walk around. Just moving your body and having a temporary change in scenery will help you refocus back on work.

Get organised

Use project planning apps, notebooks, journals, post-it notes, ANYTHING!

You need to get super organised with work when you’re left to your own sense of self discipline. (…most of us have horrible self-discipline)

Using tools and visual reminders is a great way to not forget things and stay on top of deadlines. I always use to-do lists and schedules to make sure everything is done on time.

Why working from home may be the new normal

The financial crisis of 2008 already gave birth to the new trend of remote working and location independent living. But for the most part it was seen as an alternative lifestyle choice for those who wants to shun office life.

However, with the impact of coronavirus COVID19, many companies around the world have a real practical need to set in place permanent work from home policies.

Everyone now knows how important it is to keep the show running, and one of the best ways to do this is by giving people the ability to work wherever they need to. It keeps companies nimble and agile at times of unexpected crisis and it leverages human capital around the clock without being resource heavy.

So it might be time to get use to remote working since your boss might just want you to start working from home more often now.

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How To Make Money While On Lockdown https://www.milliondollarwinnie.com/2020/03/19/how-to-make-money-while-on-lockdown/ https://www.milliondollarwinnie.com/2020/03/19/how-to-make-money-while-on-lockdown/#respond Thu, 19 Mar 2020 04:08:10 +0000 https://www.milliondollarwinnie.com/?p=7307 Solutions that don't take months to build an audience, a portfolio or traffic.

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We’re facing hard times from an unprecedented pandemic that is highly contagious with a long incubation period.

As long as people are moving, it will continue to spread because of asymptomatic spreaders.

And as governments put our health first, many of us will be faced with financial hardship due to lockdowns.

Companies are slashing jobs because they can’t afford the wages, and some are putting workers on unpaid leave.

My friends are included in the above two groups and at first, I thought the answer is to start a business online. But I soon realised, by the time they were in a zero cash inflow (no money coming in) situation, they didn’t have the luxury of starting any sort of business side hustle.

They needed something fast and more immediate.

My normal go-to answer of publishing ebooks online to earn royalties wouldn’t work for them if they didn’t have enough savings…one of the fastest online businesses to start bringing money in with; is still too slow for most people’s situation.

Because, although it took me 3 months to make profit, it still took me some trial and error to reach a steady income of $2000 a month with it.

In fact, sales are picking up because people need indoor entertainment more than ever now. But you can’t expect to enjoy the uptake in sales when you’re just starting out.

Times of adversity create opportunities, but only for those who are well prepared.

And so I had a harsh dose of reality. My normal advice only works for people with enough cash to buy themselves time to start an online business.

No matter how good of an opportunity it is to start your own online business, full-time or as a side hustle, you can’t do it without sufficient funds.

What you can do if you need cash fast!

Which is why, I took some time to research more immediate solutions for anyone in a hard situation.

Solutions that don’t take months to build an audience, a portfolio or traffic. Solutions that don’t take more than $100 to start.

Captioner for Rev.com – Most consumer markets are down because people aren’t out spending their money, but indoor entertainment is in high demand.

Netflix is a great example of this and every video of theirs is captioned.

Rev.com is a big semi-automated transcription, caption and translation service provider for many of the biggest companies in the world.

They are constantly hiring and pay well. You get to choose how much you want to work with the arrangement being fully flexible to suit your needs.

You can find more info by clicking on this link.

English Tutor with VIPkid – China took hard measures for 3 months and it’s paying off now. The country is opening things up again with life getting back to normal.

VIPkid is one of the biggest online English learning services in the country.

Many people have already enjoyed making money with VIPkid during China’s lockdown because of school closures causing more signups, but with such a long time of no lessons, many parents will want the extra tutoring to catch up on lost time.

VIPkid pays up to $22 per hour, and just like rev.com you get full flexibility on work hours to suit your needs.

You can fine more info by clicking on this link.

Live Streaming – VIPkid requires all tutors to be 4-year degree holders and Rev.com needs you to pass their assessment, which might be a barrier for some people.

So this can be a nice alternative to those who aren’t able to do the above two.

Live streaming might sound like a joke to most (depending on how old you are, or if you play computer games or not), but it’s a genuine income source for many people around the world.

Entertainment, especially indoor entertainment will survive and do well right now. Live streaming is one of those entertainment sources that many people enjoy.

And it’s easy to start. You can do anything from just chatting and eating, to playing games or doing a full on talk show discussion with viewers.

As long as you’re extroverted, ok with being on camera and good at engaging with people, then you’ll do well with live streaming.

You can start with Youtube and Twitch, which are the biggest streaming platforms you can monetise with.

What to do if you have at least 3 months of savings and still have a salary coming in

START PREPARING RIGHT NOW!

I cannot stress this enough. I’ve seen too many friends going on unpaid leave in recent months in Hong Kong and we have one of the richest governments in the world.

Things are only going to get tougher. If you still have a regular income, it’s time for you to prepare for when you don’t.

The above 3 suggestions I gave aren’t going to realistically cover the wages you lost, but they’re immediate.

So if you have some extra time, you have the luxury to start something more substantial.

I always recommend earning royalties with Amazon, from selling ebooks, paperbacks and audiobooks.

Sales are picking up with more people reading at home and it’s a lot faster than monetising a blog from scratch.

Drop shipping and affiliate marketing is struggling as overall demand for physical products decrease.

Download my free blueprint if you’d like to learn more about earning royalties on Amazon.

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How to more money with a full-time job https://www.milliondollarwinnie.com/2020/03/17/how-to-more-money-with-a-full-time-job/ https://www.milliondollarwinnie.com/2020/03/17/how-to-more-money-with-a-full-time-job/#respond Tue, 17 Mar 2020 05:28:23 +0000 https://www.milliondollarwinnie.com/?p=7304 The economy is tanking and people who are thinking ahead are looking for ways to increase financial security in their lives right now. Quitting your job and starting a business isn’t smart, but having a backup plan is. Which is why you need an income stream that isn’t too time intensive that it effects your […]

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The economy is tanking and people who are thinking ahead are looking for ways to increase financial security in their lives right now.

Quitting your job and starting a business isn’t smart, but having a backup plan is.

Which is why you need an income stream that isn’t too time intensive that it effects your full-time job during the day, and is simple enough to for fast results.

Kindle Publishing For Royalties online

Kindle publishing might be the best option for those wanting a backup plan to buffer any (touch-wood) financial emergencies due to the economy not performing up-to-par.

I make $2000 every month from royalties on Amazon with ebook sales, and I’ve been making that since 2016.

Why?

It’s not time intensive: Publishing ebooks on Amazon isn’t time intensive because you outsource the majority of the work to freelancers.

This means you act more as a co-ordinator and investor than a hustler on a side hustler.

A book can take 3 weeks to get ready, but within those 3 weeks you will be working somewhere between 10 – 20 active hours. Something you’re able to do on the weekends or an hour before you sleep.

It’s not expensive: Outsourcing work to freelancers cost money, but it’s nowhere near as expensive as other online businesses.

You can start with as little as $250, compared to the $500+ for drop shipping because of paid ad campaigns, or $600+ on a blog because of email marketing services and hosting service costs. (don’t forget the Canva pro and tailwind app to gain traffic)

High Returns: Many online income ideas can cost nothing, but they don’t make a lot back in return.

Kindle publishing provides some of the highest returns on investment I’ve seen in my 5 years of online business.

Drop shipping businesses see profit margins or 50% or less due to high advertising costs. Blogs on average don’t make a profit because of traffic issues, and Etsy businesses see profit margins of less than 30% because of material cost and shipping.

Kindle publishing has the potential to see 600% ROi. I know it sounds ridiculous, but it’s true.

I’ve had a book keep selling since 2016, which makes me $70 – 150 a month and it only cost me around $220 to produce.

Fast returns: Your investment for $250 should on average take 3 months to make back, everything after that will be profit.

It’s this quickness that makes it great for someone starting from scratch and doesn’t have the time to wait 2 years for a blog to pick up or 6 months for a e-commerce store to gain traction.

Because it also means you can scale up very fast. Make one book into 10, 10 into 100 in a very short period of time by reinvesting your profits.

And because it’s so incremental, you can stop whenever you want and it won’t effect your existing books.

How to start?

Step 1: Start educating yourself

Everything requires proper education if you want to do it successfully. You can teach yourself through trial and error. Or you can seek guidance from someone who has already mastered the business and is good at teaching.

Obviously teaching yourself is going to take longer and be more expensive because you may make mistakes which will cost you your investments.

But it is possible if you’re dedicated enough.

Alternatively you can join an industry, business specific training program to teach you everything. You make fewer mistakes this way and your overall cost lowers as well from the money you save on unmade mistakes.

Step 2: Gather up your funds

Once you’ve done some learning, you need to prepare your funds to get started. Kindle publishing means hiring a writer, a designer, at least and a few others if you want to be very comprehensive.

You’ll need $250 start but I always advice people to have $500 to start so they can learn faster by publishing 2 books at the same time.

Step 3: Get stuck in!

You got the know-how and you got the resources, now it’s time to not hold back and take action.

Understanding how the business works. Getting excited about how the money earning potential is awesome. But it honestly doesn’t mean anything if you don’t start.

Results take action.

A lot of people get stuck on this last step, but there’s no trick or tip for this step. You just need to start.

If you would like to start step 1 and learn more about kindle publishing, then download my free blueprint of my 6-step system.

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Amazon SEO For Selling ebooks https://www.milliondollarwinnie.com/2020/03/17/amazon-seo-for-selling-ebooks/ https://www.milliondollarwinnie.com/2020/03/17/amazon-seo-for-selling-ebooks/#respond Tue, 17 Mar 2020 03:06:06 +0000 https://www.milliondollarwinnie.com/?p=7300 Amazon SEO to sell ebooks more effectively with these tips from an Amazon bestseller.

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If you’re selling ebooks on Amazon’s Kindle store then you need to learn Amazon SEO.

Many people in the industry trying to earn royalties concentrate their efforts on keywords, which is a part of SEO, but most people completely ignore everything else.

So here are 3 other big factors you should think about when self-publishing ebooks online to make passive income.

Kindle Keywords Don’t Just Appear In The Title

You may know the keyword is vital for ranking and attracting sales, and you may also know that the keyword is essentially the title of the book.

But The Keyword needs to also appear while you upload your book and fill in the meta data as well.

Naturally use your keywords in the description 2 – 3 times to optimise your SEO.

Use variations of your keyword in the 6 keywords during upload to maximise your keyword reach.

Also try to sprinkle in your keyword naturally within the content table of your actual book.

And lastly, you want to use your keyword in your AMS ads.

Availability Beyond ebooks

Amazon favours availability because they want to make a sale, which means the more options you give people to buy your product, the more Amazon will preference yours on search results.

This means, you need to make every possible version of your book. EVEN if it’s not going to bring too many sales in.

ebook, paperback, audio book and hardback, if you really want to get on Amazon’s good side.

Activity

A product that isn’t active is a product that isn’t selling.

The amount of activity your book gets is a strong SEO indicator for the algorithm to consider. Activities such as sales numbers and the frequency of sales, the frequency of reviews being posted as well as the the scores of those reviews.

All of these will show Amazon how active or inactive your book is.

Of course, you can’t directly influence any of these indicators with absolute results, but you can influence them through indirect behaviours such as:

Using Ads to increase visitor traffic to your sales page, which also increase your sales numbers. Encouraging reviews to be posted with incentive based action, and doing flash sales with book directories to drive sudden activity.

Covering Your Basics

It’s important to cover your basics and do them well before trying to implement more advance strategies.

If you’re new to Kindle publishing or making money with ebooks online, then I would suggest you follow the above tips first before you go searching for additional information.

You could also download my blueprint guide to my 6-step system, if you would like to get a comprehensive look at how to earn royalties on Amazon as a professional.

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Small Online Businesses Busy Moms Can Do During Nap Time https://www.milliondollarwinnie.com/2020/03/14/small-online-businesses-busy-moms-can-do-during-nap-time/ https://www.milliondollarwinnie.com/2020/03/14/small-online-businesses-busy-moms-can-do-during-nap-time/#respond Sat, 14 Mar 2020 05:29:00 +0000 https://www.milliondollarwinnie.com/?p=7292 I'm going to introduce 2 legitimate small businesses that won't make you rich, but will most definitely bring a respectable full time income with only part-time hours.

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One income households aren’t common if you live in areas where cost of living is high.

It’s hard to cover your own expenses let alone the expenses of rapidly growing kids.

Which is why many stay at home parents are looking for innovative ways to make money at home to help with the household income.

The article isn’t going to include the usual drummed out ideas of filling out surveys, penny pinching with coupons and doing remote customer service work.

I’m going to introduce 2 legitimate small businesses that won’t make you rich, but will most definitely bring a respectable full time income with only part-time hours.

Businesses that you can start with less than $500 and with little to no experience.

Small learning curves, small investments and small demands on your time are key characteristics of a business busy moms need, to stand a chance of success.

Anything else, and it’s just not realistic.

So without further ado, let’s start.

Selling Printables on Etsy

Selling printables on Etsy is great for a few reasons.

First off, printables are files people get to download and then print on their own. These files can be posters, greeting cards, tutorials, DIY craft guides, organiser slips.

The list can go on and on and on.

Etsy also commands higher prices than other marketplaces because of the customer based it attracts.

You don’t have to worry about not being a graphic designer or knowing any cool knowledge to sell in a document. Because you can outsource that to freelancers.

Research product ideas on the Etsy site and then get freelancers to create it for you. Then you sell them over and over again.

It makes this business cheap, fast and simple to start. A big printable niche on Etsy is weddings. Invites, name tags, sign boards etc

It costs anywhere from $20 – 100 to hire a designer to design an entire wedding paper goods set for you.

An average set on Etsy goes for around $20.

Earning Royalties on Amazon with Books

Earning royalties on Amazon works by creating books based on market research. You produce the books by outsourcing help to ghostwriters, designers and virtual assistants.

Which is the key reason why you can start making money with this with only an hour or so a day.

Your job is to figure out what people want to buy in Amazon’s Kindle store and then assemble a team of talented freelancers to do the rest for you. You’re like a conductor of an orchestra.

Amazon pays you 40 – 70% of royalties on each sale across ebooks, paperbacks and audiobooks.

A average performing book will cost around $250 to produce and make anyway from $100 – 300 a month.

If you would like to learn more about how to earn royalties on Amazon, and I how I created a 6-step system to make $2000 a month, then download my free blueprint to understand the business some more.

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Make Your Money Work For You With Easy Passive Income Ideas https://www.milliondollarwinnie.com/2020/03/13/make-your-money-work-for-you-with-easy-passive-income-ideas/ https://www.milliondollarwinnie.com/2020/03/13/make-your-money-work-for-you-with-easy-passive-income-ideas/#respond Fri, 13 Mar 2020 07:16:16 +0000 https://www.milliondollarwinnie.com/?p=7289 Thanks to the internet, you can start making your money work for you for as little as a few hundred dollars.

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My mum taught me to use money to make money.

And normally, that meant buying stocks or property in her generation.

Things are different now, you don’t need 6 figures to buy a house for rental income or build a sizeable investment portfolio of stocks.

Thanks to the internet, you can start making your money work for you for as little as a few hundred dollars.

Here are 3 ways to do it:

P2P lending to make more interest any savings account from a bank can provide.

P2P stands for peer-to-peer lending, is a way for you to be the bank. You lend your money to others on P2P lending platforms, and in return you earn interest after the loan tenor is up.

There are many of these platforms and as long as you go for the big names such as “Funding Circle” and “Lending Club” your money is safe.

You don’t need to do anything because the platforms will do the background checks for you, as well as the payment collections.

All you have to do, is be willing to lend your extra money out.

Hiring designers for POD

POD stands for print-on-demand, it means products get produced to order, instead of mass producing in bulk.

There’s pros and cons to this, but for anyone looking to make a small hustle with minimal effort, than POD is the best way to start selling products.

All you have to do is hire freelance designers to design graphics and patterns, and then you take these designs to be printed on various items.

T-shirts, pillows, cushions, bags, hats, mugs, phone cases, posters, the list of possibilities are endless.

This method works because it’s cheap to get a lot of designs made and you don’t need to invest in stock.

Any one can start this with as little as $5, but the more you can use to start getting designs, the higher your success rate will be.

Earning royalties on Amazon

Earning royalties is a great way to make your money make more money by transforming it into assets.

An asset is something you own and is yours for as long as you keep it, by turning your cash into asset, you can store your wealth.

But in this case with making royalties on Amazon, you create cashflow by making assets that can generate regular income.

You do this by hiring writers to create books for you, which then upload the files onto Amazon and they will take care of the rest for you.

It’s not as simple as P2P, but it’s more strategic with a higher success rate than POD.

I personally make tried POD and earning royalties on Amazon myself. I make $2000 a month with Amazon and my POD business no longer exists.

If you would like to learn more about earning royalties on Amazon, then download my free blueprint to understand the business model some more.

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Make $50 a day with this easy online business https://www.milliondollarwinnie.com/2020/03/13/make-50-a-day-with-royalties-on-amazon/ https://www.milliondollarwinnie.com/2020/03/13/make-50-a-day-with-royalties-on-amazon/#respond Fri, 13 Mar 2020 05:42:37 +0000 https://www.milliondollarwinnie.com/?p=7286 Would an hour of work a day be worth $50 a day in earnings? I think so, and you most likely agree.

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Would an hour of work a day be worth $50 a day in earnings?

I think so, and you most likely agree.

There’s many ways to make money online, but most easy, accessible ways to make money pay pennies. (…sometimes, literally)

So the business I want to introduce to you is a rare exception.

I make around $2000 with 10 hours of work every month as a side hustle by earning royalties on Amazon.

Now, I didn’t reach this amount right away, so I don’t think you should be expecting those numbers in the first few months.

But it only took me 3 months to make profit.

Earning royalties on Amazon is great because it’s passive income, you’re selling the same thing over and over again without doing the work over and over again.

In this case, we’re talking about books. ebooks, paperbacks, audiobooks. All kinds of books.

You create a book and Amazon helps you do the rest once you upload the files to their site.

And if you’re not a New York Times bestseller, don’t worry, because there’s something called ghostwriters.

This is why it took me 3 months to make profit, since I pay writers to write books for me, designers to design the cover, and . But if you’re talented enough then you can write it yourself. (though, you will need to work more hours than I do on this business if you do)

Each copy that book sells, makes me anything from $2 – 20 in royalty profit.

The profit amount on each sale varies based on your product price and what format sold, paperback makes the most money while ebooks make the least.

The average performing book can make an average of $200 – 300 a month, sometimes this is less, and sometimes it’s waaay more.

But I’ll be honest, these results are not guaranteed if you don’t know SEO, or more specifically Amazon SEO.

When I started this business, I didn’t full understand my roles in the situation and I made a lot of mistakes early on.

I’m a lot wiser now and I got this business model down to a science. There’s a few skills you need to master to make money with such few working hours.

Observant and empathy

You need to be observant to identify book topics the market actually wants to buy. This isn’t very hard to learn with some practice.

But the second part, empathy is a little harder. Empathy to understand not just the topic idea, but the actual desire of your prospective book reader. Understand what they are struggling with, why they want to buy a book on said topic and how best you can help them is vital to earning a lot of royalties with your books.

Time management

Time management is essential to success, because like most things online, things change fast.

When you see an opportunity, you need to act, you can’t wait to do something when you feel like it, because the opportunity might no exist then.

It takes around 2-3 weeks to get a book from idea to marketplace, which is already a bit of time. So time management is vital to make sure you get your book selling as soon as possible to make the most money.

Eye for detail

Creating books sounds easy when you’re hiring talent to do it for you, but you still need to do quality control. You’re also the last stage of production when you compile all the parts together before uploading the files onto Amazon.

Having an eye for detail to do this well is important.

Otherwise you end up with a sloppy book that people don’t enjoy.

If you want to learn more about earning royalties on Amazon, you can download my free blueprint that outlines my 6-step system I created.

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How To Retire Early Without Being A Millionaire https://www.milliondollarwinnie.com/2020/03/11/how-to-retire-early-without-being-a-millionaire/ https://www.milliondollarwinnie.com/2020/03/11/how-to-retire-early-without-being-a-millionaire/#respond Wed, 11 Mar 2020 08:49:50 +0000 https://www.milliondollarwinnie.com/?p=7279 A recent survey in USA found that over 60% of respondents didn’t know how much they needed to retire and then another study on CNBC said $1.7 million. …well that was a specific number. and I argue, you don’t need $1.7 million to retire. You don’t even need $1 million if you are willing to […]

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A recent survey in USA found that over 60% of respondents didn’t know how much they needed to retire and then another study on CNBC said $1.7 million.

…well that was a specific number.

and I argue, you don’t need $1.7 million to retire. You don’t even need $1 million if you are willing to embrace the new environment and opportunities the internet has created in the last 2 decades.

Old retirement strategies relied on the stock market, either from a personal portfolio or through a pension fund of some sort. OR, rental income from property.

Both strategies require a big “nest egg”.

Nest eggs is just a terms people use for the bulk amount of money you need to save up to then buy enough stocks or property to get enough rent or dividends.

Needless to say, if you’re going down this route then the amount you need is going to be a lot.

How much cash do you need coming in every month to retire?

This is the real question you should be asking yourself and not “how much money do I need to save in order to retire?”

Because once you change the question, the possible solutions change too.

I actually wrote about my lavish early retirement goals and I figured I needed less than $500k to retire early with a very VERY comfortable life.

Half went to a whopping 2 year emergency fund, because…you’re retired so your emergency fund shouldn’t be just the 6 months. And then the other half to buy stocks with to make a modest $2-3k in dividends every month.

But $2-3k every month is not enough to retire with. So where is the rest coming from?

Passive income streams online. A.K.A online businesses I automated.

I asked myself “How can I generate enough cash every month to cover my expenses?” That was my thought process. And I determined, if I wanted to retire early without winning the lottery, I needed to build income streams that are relatively low cost.

That naturally meant online income streams.

I started my publishing business on Amazon for less than $500 and now I make $2000+ every month in royalties from it.

I started this blog for less than $500 and now it generates more than $3000+ every month in affiliate sales and product sales.

Online businesses are cheap to start and easy to automate. It’s the perfect recipe for early retirement!

Let’s compare

My $250k nest egg to buy stocks only gets me an average of 6% dividend yield. (about $2k a month)

But if I took that $250k and started a bunch of online businesses for $1000. That’s 250 different streams of income, each one with the potential of bringing in a regular source of money.

…now, I don’t advice you to actually start 250 businesses, but the point I’m making is, it’s cheap, fast and easy to do.

You create 3 – 5 income streams and we’re instantly talking about $10k a month!

Start a publishing business on Amazon that brings in $2k.

Start a blog that brings in $2k.

Start a drop shipping business that brings in $2k.

Start selling digital products to bring in another $2k.

…on one side you have $250k for $2 a month, or just a few thousand for $10k a month. Which one would you choose?

Stocks, you just need to buy them, it’s like shopping.

But businesses take upfront effort at the start. However, if you’re like me then I rather hustle a few years than save for a few decades.

The choice should be obvious. The answer to retirement of any timeline is to focus on how you can quickly, easily and economically generate a positive cashflow into your life.

If you want more advice of how to start creating a passive income stream online, then I highly recommend publishing on Amazon. It’s a great beginner business model anyone can master with a little bit of time. Learn more by clicking here.

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Pinterest Best Practices for 2020 https://www.milliondollarwinnie.com/2020/03/11/pinterest-best-practices-for-2020/ https://www.milliondollarwinnie.com/2020/03/11/pinterest-best-practices-for-2020/#respond Wed, 11 Mar 2020 07:10:40 +0000 https://www.milliondollarwinnie.com/?p=7271 Pinterest Best Practices for 2020 to tap into the internet's most vauable source of traffic.

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(Hey lovely peeps, this post was sponsored by Tailwind app! I’ve used Tailwind app for over a year and can’t get enough of it, if you’d like to start a free trial then head over to my resources page found here I get a small commission if you choose to join the bandwagon of happy pinners after your trial)

Pinterest is an absolute goldmine for traffic because unlike other social media platforms that don’t like people leaving the site.

Pinterest doesn’t mind it.

What they care about is the frequency people are interacting with the content, not how long they interact with pins.

And to reflect that, Pinterest has made some changes recently to encourage a new set of best practices.

Pinterest Best Practices To Get A LOT of Traffic

Your Own Boards – Group boards were all the craze before, but not anymore.

I’m not saying group boards aren’t helpful, but Pinterest is really pushing for quality over quantity. Your own topic specific boards will most likely do a lot better than pinning to group boards that are spammy in nature.

What to do – Create multiple boards under your account on relevant topics to your niche. Make sure you use keywords and start pinning high quality pins to your boards to increase engagement.

Fresh Content – Content is King and forever will be.

Fresh content was always be important for Pinterest success, but it has never been as important as it is now.

Honestly, don’t anticipate to gain Pinterest traffic without creating a regular flow of fresh content for your account. Pinterest LOVES new content it hasn’t seen before because Pinterest users engage with new content more than content they’ve seen floating around in their feed several hundred times before.

What to do – Fresh content is a new pin that hasn’t been posted on Pinterest before. It can be a new pin for an old blog post or a new pin for brand new content on your site. My advice is to schedule a new pin everyday to get some of that Pinterest love.

Smart Pin Scheduling – Everyone hates SPAM and I’m sure you would never do it on purpose.

But mistakes happen, especially if you’re balancing all the group board rules, while trying to pin at optimal times in the day.

So it’s IMPORTANT that you have a very clear pinning schedule that re-pins your best performing pins at non-spammy intervals to specific boards.

By repining your best pins in a responsible manner, you can build your followers and monthly views in a short period of time.

What to do – Managing your Pinterest schedule is hard, especially if you’re making fresh content on the regular. But you can easily do this with the help of Tailwind app.

Tailwind app is a Pinterest scheduler software that will save you so much time and so many hair-ripping-frustrated-episodes. You can easily schedule and plan pins to boards with its visual scheduler, board lists and interval pinning tool.

It gets better though, because recently they updated Tailwind app with “SmartGuide”. It’s a built in monitor to help you avoid spammy behaviour and provides automated tips to pop up to improve your Pinterest game whenever you’re not meeting best practices.

Oh, and did I tell you how Tailwind app works with Pinterest directly to make sure their scheduler is always on Pinterest’s good book.

How I use Pinterest

Pinterest is a big traffic source for MDW. It’s been the easiest source of traffic for me and I can honestly say I owe my success to it because I use it in my sales funnel.

So, if you look at my account, you’ll see that I’m not big on Pinterest. I only have about 400k+ monthly views. But as I type this, those 400k+ translates to around 15k monthly page views to this site.

Visitors then find themselves going to a few places on my site, all of which have a monetised outcome. Such as this one, where you may want to check out my Tailwind link on my resource page.

Pin Me!

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