Comments by "Worlds Worst Musician" (@officialWWM) on "How To Make Passive Income with $1000" video.
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Louis Burns hi Louis, having an open mind is the first step to success :) I'm no guru on this stuff but I know what has worked for me. My advice is to develop a high income skill. In my case, it is the ability to sell. If you can develop fantastic sales skills, you will be in demand everywhere. Second, do something that impacts a lot of people. For example, if you have a great product that sells for just $2 and you can sell 1 million of them, you've just generated 2 million worth of business! In my case, I'm a live music promoter. I sell myself to top acts, then sell my acts to venues, then sell tickets to the public. I put on shows every weekend that impact hundreds of people in my local area. By impacting lots of people, I generate a LOT of turnover with very little cost. Last night we did a small show, just 300 people but the ticket price was $22. $2 for the venue, $10.00 for the act and $10.00 for me. So I generated $3000 in a couple of hours by leveraging other people, which is also something you should do :) I average 3 shows a weekend of roughly that size. I employ door staff to sell the tickets and I rarely go to shows myself unless I want to see the act. An average week makes about 10k with less than $1000 in costs. I'm not telling you this to show off, I'm just trying to give you an example of what's possible. I'm by far the biggest and most active promoter in my market, which, be default, keeps my phone ringing. My product impacts lots of people. I leverage other people's skills and have low costs. Then invest the money that I make. I don't have to work anymore, I only do it now because I love it :) If you can find a business model like that, you will be on your way :)
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Guillermo Fonseca if you are smart, you will use this very same internet to make yourself a millionaire! If I can offer some advice...admittedly, I'm a complete stranger, (however, I've often taken good advice from strangers) but strangers will be more honest with you than friends and family. Do not get into a situation where you are trading your hours for dollars, you will never get rich that way. You will never get rich by saving, you get rich by making more money, then investing wisely. If you are not working to make YOUR dream a reality, you will be working to make someone else's dream a reality! Finally, whatever it is that you decide to do, be the absolute best at it! The person who is the best in their field will never be short of money!
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