“Beau if I could make an extra $3-5k a month that would literally set me free.”
The reason why I got into educating eCommerce is because of the awful internet marketers who took their marketing skills to sell awful programs to people that were making as much money as them in eCommerce ($0.00)
First off, I love when I get these questions because that means you have a goal. However, just need to reposition your expectations and how it will take to get there.
Many people online will look for an answer that says “I will help you make money fast, so fast, you will become rich today.”
Now those are not the words that people actually say…but more what people think and portray.
That is why I am taking the time today to explain to you how it really works & how you can truly make it work.
First off, most likely making an extra $3,000-$5,000 a month will not set you free.
People tend to ask me, Beau can this amazon thing “replace my income”
Please never use those words with me.
I look at selling on Amazon as an investor. As an investor, I would never in my life want to get rid of an income…
Neither would you, correct? Then why get rid of your current income to replace with another income?
Answer is most likely freedom, I agree and respect that. Sorry, running a business will not set you free, you will most likely spend more time & at least think more about your business than your job.
In a job, you have to think of two things:
- Job you must get done
- When your check comes in
What I think about while running a business, that’s for a whole new blog post.
This may sound like I am advocating to be an employee, I am not at all.
You want to make an extra $3-5k a month so that an extra $3,000-$5,000 of PASSIVE cash flow is coming to you even if you did nothing.
So to rephrase the sentence “I want to replace my income.” change it to, “I want to increase my passive income to exceed my current employment income…so then, I have more time to focus on my business to then grow my passive income.”
I have had some students quit their jobs very quickly, one example is Sean, who literally left his job after his first investment on amazon
Any time you have to interrupt your investments is not an ideal choice. Not a bad choice, just not ideal.
If you make $3k-$5k a month in your amazon business and have to pay $3,000 a month in living expenses that can add up to millions in opportunity cost of not being able to reinvest.
For me, I have enough passive cash flow that if any of the income sources went down tomorrow, I am fine. Which causes me to have less fear and go ALL in on my business.
I am a firm believer in putting all your eggs in a basket and watching the basket. However, I am a firm believer in practicality and having all risks covered.
To recap this, Amazon is not a get rich quick scheme. Start to think like an investor, instead of how you can replace and lose out on an income source.
Aim for passive income sources to exceed your expenses so you then can go all-in on your business.
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