I haven’t posted in a long time so I wanted to reconnect with subscribers in the most transparent and interesting way possible – by giving an open book breakdown of my last month of earnings and sharing the struggle I went through to get here. I’m fascinated with internet entrepreneurship and I wanted to post some insight into the 500 days of skill building that got me to this point.
A snapshot of my last 30 days of earnings:
The breakdown I’ve shown above is about 75% affiliate earnings, 15% product sales, 5% consulting and another 5% to random immaterial revenues (such as donations, at about $15 for march) The costs formula is wonky due to time zones and how I was recording costs so I balanced one column to zero on March 16th. There’s a few remarkable things about how I’ve been earning money – most interestingly is that nearly all the money I made in March was from work done in February and before…
Why a dollar isn’t a dollar
1) Business income has advantages over employment income. Also, I’m a non-resident of Canada earning income from non-Canadian sources giving me a tax exempt status.
2) I live in a third world country and keep my monthly expenses around $1,000 USD. I no longer have a commute, living expenses are extremely cheap, and I enjoy a higher standard of living at a fraction the cost (relative to Canada) This arrangement also allows me to completely outsource all my domestic necessities – (I never cook, clean my room, or do my laundry)
3) Perhaps most importantly: 90% of revenues were ‘passive’ or payouts on assets I built in previous months.
I still work a lot – about 60hours/week, but interestingly all the work I’m doing now is for projects that won’t materialize till next month (or even next year) It’s not ‘passive’ income – it’s assets I’ve built in the past paying out. You don’t just ‘get’ money. You have to build something first that provides value and benefits others in the future. The asset building part is very hands-on but once complete the fruits of your labour are often automated (thanks mostly to online systems)
Over 500 days ago I set my goal for total freedom and now I’ve managed to get off the hamster wheel. I’m completely out of the rat race. I don’t know if this is a chicken / egg situation but work wise I’ve changed – almost everything I do day to day sees nearly ZERO immediate reward. I’m involved almost exclusively in long term projects. The best part of diligently plugging away at long term goals is experienced in their manifestation. That’s what I’m going through now.
Short terms goals like health and fitness are now rewarding me energy and vitality.
Mid term goals for money are rewarding me with daily passive income.
Finally, long term goals for skills and assets are beginning to reward me with competencies, financial security, and a growing circle of influence.
Seeds were sown days ago and soon I’ll enjoy their harvest. (after some tumultuous periods of farmer-like work ethic)
How did I get to this point?
I made the decision I was going to fully earn my income through the internet 500 days ago now. Since then I’ve undergone the most intense learning curriculum of my life. This was much different then the four years I spent at university earning a business degree; for some perspective:
If someone asked me how valuable my 4 year business degree was, I’d say, “$10’000”
If someone asked me to value what I’ve learned in the last 500 days of self-directed education, I’d say, “$100’000”
In other words self education has given me 10x the value a university degree in half the time. That’s powerful.
As Jim Rohn said:
What you study in school has a low relevance factor. You also have a low level of applied learning – literally meaning you don’t apply what you learn. This leads to pointless memorization of stuff (stuff which you could google in the future anyway). Compare formal education to a self-directed regime where your curriculum is dynamically constructed to help solve your most pressing issues. Then everything you learn becomes applied. Everything you learn becomes relevant. Everything you learn becomes valuable.
My journey began approximately 500 days ago. I had set a very specific goal: to earn at least as much as my salary from sources entirely on the internet, giving me the freedom to travel and live anywhere in the world. From inception it took 500 days to get there. I remember vividly when it started, a month into my at my tax accounting gig right out of college. I was working with people I didn’t know and was living with people I didn’t like – just to make make ends meet. With a stressful 9-5 time for things like quality R&R, a social life, and hobbies were laughable. What little spare time I did have was reserved for maintaining a sliver of connection with the people I loved. The rest of my time was spent recovering and preparing for the next work day, so I could pay the bills and keep working the next day, and so on and so on.
Above all I wanted to be free. But with most of my time and energy spent working a job to afford survival… I needed to find a way out. And I did,
The way out
My life changed when I went full hardcore with my time. No more going out. No more boozing. All my free time to getting something – anything off the ground and going. The last month at my corporate job I was sneaking away on lunch breaks to meet web design clients at a Bistro down the street. I’d come back to my desk with a $1’000 cheque in my pocket feeling pretty pleased, knowing that my final day to quit was approaching.
All or nothing
This is my new home office in Bali, Indonesia….
You can get an idea of what my new work life looks like in the video below. We did a 24 hour time lapse work session that I put together for another hobby site of mine here:
People you meet, experiences you have and books you read all contribute to your world view. With an open mind reflection on life’s experiences expands your perspective. I find it interesting I was more arrogant when I was younger, knew less, and was less capable. But now that I am more capable and know more than ever I feel the least so – after being repeatedly chewed up and spit out, failing hundreds of times over, humbled again and again. It’s a more accurate map emerging.
I’m 24 years old and I can honestly say that I experience my day to day life peacefully. I consider this my greatest accomplishment to date. Good things, bad things, all just things. Pleasure, pain, all just sensation. I’ve detached from classic objects and ownerships of success and come into touch with the things that truly make me happy. The two biggest being:
Surrounding myself with loved ones and having a wealth of time to not rush – but enjoy – the activities I love with some tender love and care (Read this book to really get the concept of having a ‘wealth of time’). Through understanding my happiness I can furlough the superfluous fluff typically ‘sold’ as a ticket to happiness; those percentile moments of existence defined by hedonistic consumption – vs. the TLC moments of doing what I love for hours a day and sharing life with people I love for hours a day.
And this is pretty much what growth looks like. It hasn’t always been easy. I have some serious problems with pills and alcohol, I can’t seem to manage my sleep, I frequently slip into 2 or 3 day long modes of lower consciousness, and I consistently fall short of the goals I set out for myself.
I guess that’s it for now.
What would you like to see? Comment/email me if any of this resonates with you. I’ve done a couple fairly ‘off the wall’ things that people might be interested in hearing about, let me know if you want me to write something up or do a video – I have lot’s of spare time here in Bali 🙂
• Last year I did an intense 23 day experiment in consciousness exploration. The first 10 days going into flotation tanks for increasing amounts of time (up to 4 hours) Next I spent 10 days at a vipassana retreat meditating in silence at a Buddhist sanctuary in the wilderness, I then went deep into the rocky mountains – several hours down dirt roads – where I rented a cabin to experiment with LSD and isolated meditation. I have a few interesting things to say on that subject
• Right now I live in Bali. I’ve been ‘habit’ hacking for a long time and I was thinking of posting a video of my daily routine and things I do to stay on top of my game.
• There’s a few life altering books I’ve read this last year that I definitely think are worth sharing
• Anything else you would like to see?
Please Like/Share/Tweet. Post in the comments if you have any thoughts on the relevance of a University degree nowadays –