Comments on: Visualize Your Income Potential

By: Pinyo

Pinyo — Tue, 23 Sep 2008 00:08:47 +0000

@BTG -- You've seen my article about Blog Exit Strategy. I think turning a popular blog into a multi-author blog with some sort of revenue sharing arrangement could work in the long run to break income barrier.

By: BTGNow.net

BTGNow.net — Mon, 22 Sep 2008 22:22:18 +0000

My income stream has the same limiting factor as all blogs: time. As a single contributor blog, BTG gets as much time out of my day as I can muster after taking care of my other responsibilities. But there’s only 24 hours in a day, and ever so much to do in terms of content creation, and marketing. I think time management will help my bottleneck, but will only be able to help so much.

By: Pinyo

Pinyo — Thu, 18 Sep 2008 14:11:17 +0000

@PassiveFamilyIncome — Thank you and you’re welcome.

By: PFI Weekly Updates - September 15 (2008) | Passive Family Income

PFI Weekly Updates - September 15 (2008) | Passive Family Income — Tue, 16 Sep 2008 11:45:45 +0000

[...] 2 – Pinyo at Moolanomy provides some tips on visualizing your income potential when developing alternative income streams. [...]

By: passivefamilyincome

passivefamilyincome — Tue, 16 Sep 2008 10:54:07 +0000

Pinyo – Nice post. This is something I try and think about every single day when building my passive income streams. I try and think how I can do each and every task more efficiently so I have more time to develop more and more income streams. Thanks for the tips!

By: Pinyo

Pinyo — Tue, 16 Sep 2008 04:15:12 +0000

@Curt — The point I’m trying to make is that you should look at the potential and determine if it’s even worth it to enter the business in the first place.

@Lauren — The cost is low, you could assume $5 a widget. I agree that it could work, and the outsourcing solution is definitely worth exploring. Also $40,000 a year is better than what many people are making. My goal was to show here some of the nuances.

Anyway, I like nerdy

By: Data Entry Lady

Data Entry Lady — Mon, 15 Sep 2008 17:27:19 +0000

Good read – to me future potential for your hard work is a biggie!

By: Lauren@LifeStyler

Lauren@LifeStyler — Mon, 15 Sep 2008 16:11:27 +0000

What about the price of supplies? How much does it cost to buy the supplies for one $20 widget? When you factor that in, she’s making even less money.

I still think it could work though. Say her supplies cost her $5 for each $20 widget. If she outsourced 50% of her work for $10 a widget, and her and her employee are able to put out 15 widgets a day (estimating that she does 10 widgets herself and her employee constructs 5), she’s incurring $75/day in supply costs and $50/day for employee costs totaling $125 in expenses per day. But, if she sells off all of her inventory, she’s bringing in $300 a day – netting $175 per day.

Translate that into a year of work (estimating that they follow the typical work calendar – and have 6 weeks off per year/ 46 work weeks), she’s still netting $40,250 before paying taxes. Depending on where she lives and what her living situation is, that may still be doable.

Sorry for all of the calculations – I’m a big ‘ole nerd and I love computing numbers.

By: Curt

Curt — Mon, 15 Sep 2008 15:33:49 +0000

Excellent article. Scalability is important when considering a business model. But building a customer base with a predictable income stream is more important when starting out and should be your first priority.

A good strategy is to create a business model with a vision for exponential growth, while focusing on first building a customer base that can support your business when you expand.