It’s been a while since I’ve written anything relating to my own personal income.  Between April and Sept 2008 I documented how I was able to ramp up my Blog income and did monthly income reports to show you guys exactly how I was doing it.  I’m not planning on doing that again, but I thought I’d write a post to just briefly talk about what I’ve been up to personally as far as making money is concerned.

As some of you who regularly read my Blog may know I began my transition away from my long time career in the IT sector back in August of 2008.  It took me about four months to fully transition away from my role and responsibilities at my old job, and as of January 1st, 2009 I’ve been a full time “Inspired Money Maker”.

So far in the two months (Jan/Feb) that I’ve been full time, I’ve been able to replace just over 63% of my gross income from my job income when I left in December.  That’s almost two thirds of the way there.  Two thirds of this income is coming directly from my PPC Affiliate Marketing efforts and the rest from a huge variety of smaller, passive income streams.

When I walked away from my job at the end of December however, my PPC Affiliate Marketing business still wasn’t profitable.  I took a huge risk making that move, but that is what you must be prepared to do if you expect to be an Entrepreneur in life and especially if you expect to be able to Make Money Doing What You Love.

The Importance of Multiple (Semi-Passive) Income Streams

I’ve probably beaten this concept over the head so many times by now that most of you are probably sick and tired of hearing about it, but I can’t stress the importance of building multiple (semi-passive) income streams.

Let me offer an example of what’s possible from an older post I recently read on the Blogger Noob.  This post is from November 2008, but I think it illustrates my point so clearly.  In November 2008, Blogger Noob celebrated his one year anniversary of making money online with a post that details how he made his money.  Take a look at his income streams:

• PayPerPost – $6,937.59
• Smorty – $1,092.74
• Sponsored Reviews – $4,671.87
• Blogitive – $10.00
• Blogging Ads – $20.00
• Social Spark – $68.49
• Loud Launch – $1,443.98
• Blog To Profit – $25.00
• Bloggerwave – $120.00
• Blogsvertise – $35.00
• Money4Blogs – $35.00
• Affiliate Marketing – Commission Junction – $5,933.77
• Affiliate Marketing – RevResponse – $550.00
• Affiliate Marketing – PepperJamNetwork – $75.00
• AdBrite – $22.38
• WidgetBucks – $25.00
• ProjectWonderful – $14.17
• Misc – $293.43
• TextLinkAds – $25.00
• Private Ad Sales – $3,903.00
• Total: $25,237.42

What’s important to learn from this is not necessarily how much was made from each income stream, because some of you might argue that making $14.17 from Project Wonderful in a period of a year is a waste of time, but rather the attitude that this person approaches his income earning with.  To me this report shows that this person is willing to try many different things and test what works for him.  Some things worked out ok for him, others didn’t, and some things worked out really well.  The thing is that he was willing to try!

You have to be willing to try things and not give up.  Maybe you have one idea and it doesn’t work out for you as well as you hoped – so what!?  Try another one. And another.  And another.  Until you succeed!

That’s all I’m going to say on this subject.

Work Ethic

You know when you see all these “systems” coming out on the Internet from Guru’s who are willing to share how they make millions online and teach you EXACTLY what to do step-by-step?  What’s the first thing that runs through you head?

“Yeah right, why would they teach someone else to make money like they do?  It would make it harder for them to make money.  They’d be basically training their competition.  Scam.”

The truth is actually a lot more sad than that.  The truth is that most of these Guru’s ARE actually teaching exactly what you need to do…step-by-step, in order to be a millionaire just like them.  How can they do this without creating a massive amount of competition for themselves?

It’s actually pretty easy.  They know that statistically, 99% of the people that sign up for their course don’t have the work ethic to even give the course an honest try.  One of my coaches once told me that statistically, 40% of all home study courses never even get opened.  Statistically, 40% of courses are still sitting in their original packaging, shrink-wrapped, on the shelf of the person who bought them.

Why?  Because they didn’t buy the course to learn it and change their life.  They bought the course because it represents HOPE to them.  As long as they haven’t yet opened the course, it’s sitting there on the shelf and it offers them HOPE that one day, when they “have time” to work on it, their life will change.

At first I didn’t believe the statistic could be this high.  But then I looked around my house and I saw a $300 “Learn How to Play Guitar” DVD course I bought about two years ago.  I took the shrink wrap off, but it’s still sitting there untouched.  I didn’t even crack the manual open.  I “haven’t had time” yet.   Right now, learning how to play guitar has just not been a big priority for me yet.  I believe the statistic.

Do you have the work ethic to become an Inspired Money Maker?

The last four weeks I’ve been doing nothing but doing my P90X Fitness Program, and working on my business/income.  I’ve watched a couple of movies on TV here and there, and gone out for dinner a few times, but besides that I’ve been at home plugging away at building my future.

Movies can wait.  Hockey/baseball/football/soccer games can wait.  Partying can wait.

Fear and Frustration

One thing that I want to make completely clear here is that I experience fear and frustration just like everyone else.  I have my own limiting beliefs and self-sabotaging habits that I’m always working on.  I get stuck, I get frustrated, but I find a way to move through it.

Yesterday, for example I was in such a foul mood as nothing has been working for me in my new affiliate marketing campaigns for a while now.  I keep running into road blocks.  My profitable campaigns are doing fine, but I’ve been having a hell of a time getting new campaigns going properly.  Finally by around 4pm yesterday I had to walk away from the computer and go do my 90 minutes of Yoga X (Part of my P90X program) and that totally helped me to relax.

I was also in the PPC Classroom VIP forums pleading for help from the coaches as nothing has been working for me in my latest campaigns.  Finally today with a bit of guidance, I think I broke through and I’m starting to see some really good progress with a campaign I worked on all day today.&
#160; Shit happens.  I had 15-20 campaigns in a row that “failed” for me. You’re going to be challenged in whatever you do.  Don’t quit.

It’s the same thing with my P90X program.  Second week into it I screwed up my knee during Plyometrics training.  I didn’t throw up my hands in the air, give up and quit though.  I persisted.  My knee healed in a few days and now it’s stronger than ever.  I’m now on Day 28 of the 90 Day program.  Almost one third done already.

I’m a positive person and I don’t really like to bitch and complain, but sometimes I think that because I always focus on the positive on this Blog, some of you might think that everything always works out for me, and when things take one wrong turn for some of you – you think that it means you’re doing something wrong or you’re not “special” enough to succeed or something. Go “fail” some more.

Light at the End of the Tunnel

A part of me still feels frustrated and impatient because I still need to grow my “Inspired Money Maker” income quite a bit before I’m able to afford to live the lifestyle I want and desire, but at the same time I also know that I’m closer to my dream life than I have ever been before.

I know that there are probably a lot of people who would be ecstatic to be in the position I’m in right now where I’ve already replaced two thirds of my job income by doing what I love.  I know if I was to travel back in time just two years ago and tell my past self where I’m at right now, I know he would be super excited compared to the $10/m Blog Income he was earning back then.

It’s important to express an attitude of Gratitude and to see that no matter where we are today, and what things are challenging us today, there is always the possibility of brighter times ahead if we decide and pursue our dreams.

Go for it.  You know you want to.