Everyone has a post about how to make money blogging.
No one shows you how to build an audience. From nothing.
I read a lot of Financial Samurai.
That’s part of the reason why I started this. Almost every other Financial Samurai post ends with a bullet point reading, “Start a Blog.”
I bit the bullet. Here it is, Sam. I’m a thrifty (poor) creative who writes in his spare time and wants to make enough money to earn financial independence by 35. Blogging is, according to you, one of the best avenues for someone like me. And — maybe this will seem a little off-the-cuff for anyone who doesn’t read Financial Samurai — but I think Sam will be happy to know that if you count writing for this blog, working at my factory job, working for Overcoming Odds, and going to the gym as “work,” I’m easily putting in 80+ hours/week.
If you don’t, I still work anywhere from 50-60 hours/week.
That’s what this post is going to be about: working more to make more money. More specifically: creating a passive income stream through blogging while working a full-time job. In order to create this website, I followed the steps Sam laid out in this post, “How To Start a Profitable Blog.”
If you’re an avid reader of Financial Samurai and you’ve been thinking about starting a blog yourself, be sure to check in to PhilanthroCapitalist over the next few years to see how I’m doing. Ideally, he’ll be able to point to me as an example of someone who followed his advice and “made it.”
On Working More, Or “I Don’t Have Enough Time.”
If you’re putting in more than 40 hours, the great thing about it — even if you’re not making a whole lot compared to college grads — is that you don’t have any time to spend your money. How are you going to throw away two grand a month working 10.5 hour shifts in a factory? You’re not. It’s simply impossible. One of the biggest keys to saving, then, is to relentlessly earn.
Will you have to sacrifice your social life? Sure, especially if you’re working second shift like me, of course you will. Most people can definitely find time to spend with their friends and family. Some can’t. As Dave Ramsey says, though, “If you want to live like no one else later,” (financial independence, world travel, healthy retirement accounts, real estate, etc), “you have to live like no one else now” (work hard, invest wisely, budget, etc). Sam caught a lot of flak for it, but I think he’s dead-on when he wrote the post, “Are There Really People Who Only Work 40 Hour Weeks and Complain They Can’t Get Ahead?”
If you’re a Millenial who thinks he’s going to become rich working 40 hours a week, think again. You might earn enough money to live a comfortable life, but there will always be someone smarter, better-skilled, and more charismatic who’s willing to put in 60-80 a week. The market — and your workplace — is not going to reward a sub-par time investment unless, of course, you can deliver the same results. In that case, you obviously deserve to get paid as much as the other guy. However, whether or not office politics will be in your favor if you’re cruising by on 40 is a bit of a toss-up, especially if everyone else in the office is working over. And, assuming that your job isn’t maxing out your cognitive resources, if you work 60 hours a week, you could be delivering 1.5x the other guy’s results. Then you could negotiate for more pay.
You might make the argument that this is all assumption. Some of you might say, “I don’t want to work 60 hours a week. I’m exhausted enough already.”
That’s fine. It’s not all about money and it’s not all about work. If you want to put in only 40 hours a week and you live comfortably, that’s totally okay. You’re probably living the dream. Maybe I’ll get there someday, too.
But if you’re a Millenial with tons of student loan debt, why would you? Why not put in overtime while you’re young and get the extra pay? It seems like a no-brainer to me.
Right now let’s assume you’re working 40 hours a week but you want some extra money to go on a nice vacation or buy a new car. Instead of working another 20 at the office, why not invest that time in yourself? I’m willing to bet that there are tons of intelligent, creative people out there who could create captivating blogs if they put in 20 hours worth of work every week. Instead, they don’t.I don’t want to be part of the people who don’t.
And, because I personally love reading blogs that benefit me in some way, I want to teach other people how to do it, too.
This is the beginning of what will be a series of six blog posts to help me morph this blog into a passive income stream. The last five are based off of Sam’s five tips to growing your blog that he wrote in this post.
- Finding a Product That You’re Willing to Sell
- Commenting On Larger Blogs
- Guest Posting On Larger Blogs
- Building a Community
- Having a Consistent Writing Schedule