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- Mom quits her job, now works 5 hours a week and earns $120,000!
Mom quits her job, now works 5 hours a week and earns $120,000!
By creating 3 simple products...
Cashflow Chronicles
November 22, 2024
Welcome to Cashflow Chronicles!
We've got another inspiring week of your favourite entrepreneurial digest.
Read on to find out how she did it
This week, we're focusing on three incredible stories we found from Internet land in the world of business, finance, and AI. Let's dive into this week's topics:
Discover how a 30-year-old mom leveraged digital products to amass $120K in just nine months, all while working a mere 5 hours a week. 🎯
Uncover a young married couple's steps to grow their semi-passive business from $100K a year to $100 a MONTH, a cool $100K monthly. 🙌🏼
The 6-step blueprint ChatGPT's created for someone earning $5K a month in their 20s to become a millionaire in ten years. 💵
Let's get into it…
Reading Time: 2 mins 44 seconds
Earning Passive Income
Mom quits her job, now works 5 hours a week and earns 120,000!
Niki produced a simple ebook so she could quit her job
Meet the 30-year-old mom who turned her knack for creating digital products into a six-figure fortune!
Niki Puls made $120,000 in 9 months by creating 3 simple products - an $18 eBook, a $97 online course and a $27 template.
Her advice for beginners? Capitalizing on a niche market with high demand.
Now she's working 4 to 5 hours a week after quitting her marketing job, which used to take up 50 hours. She spends the extra time with her daughter and doing what she wants.
She's among many Americans and Canadians who have found ways to earn passive income through digital products. She said "It took off and sold like crazy"
Using a combination of social media, blogging, and SEO to generate traffic - she says you don't need a big online presence.
Could you write an eBook on a topic you’re passionate about?
How to 10x a business in 3 years
How a couple grew their income from $100k per year to $100k per month!
A power couple in their 30s grew their business into a $100K monthly cash flow in 2023.
Rewind to 2019, Kelan and Brittany built a steady income and quit their jobs without having any experience running an online business.
They did this through their blog, The Savvy Couple, which covers management, budgeting, saving, and investing.
They started small, reinvested their profits, and built a semi-passive income stream that allows them to balance work and life.
To scale up and 10x their revenue, they hired a virtual team, harnessed AI, and started tracking their hours to focus on key activities.
They each started other blogging sites - The Savvy Kitchen (Kelan) and The Savvy Mama (Brittany).
This lets them expand organically and introduce their existing audience to new ideas, content, and offers.
In 2020 their revenue actually decreased as they had more expenditure, but now in 2023, those risks paid off as they are on track to make $1.2 million.
Now their goal is to build their business into a consistent 7 figure income and reach financial freedom by age 35.
How to Use AI for business planning
Man asks ChatGPT to tell him how to become a millionaire in 10 years
ChatGPT will even tell you how to be a millionaire (better than most people)
Joseph Mavericks asked Chat GPT to devise a plan for a 28 old to go from making $5K monthly to becoming a millionaire.
It came back to say one option is the stock market; for example, if you'd invested $5K in Tesla in 2011...it would now be worth $579,355.
But that relies on luck and risk, so another option is to create your own business which has no earning limits.
Here are the steps ChatGPT suggested to follow:
(1) Identify what you're good at and enjoy doing. Business requires passion over a long period.
(2) Research the market to see if there is a demand for your product or service
(3) Start small - begin your business as a side hustle while working full-time. That way you can fund any startup costs.
(4) Develop a business plan to outline your target audience, offers and revenue model.
(5) Leverage technology, AI and use online platforms to market your business and engage with potential customers.
(6) Reinvest profits to fuel growth. Don’t be tempted to slow down after you make some money - it’s time to scale!
(7) Create a business with the option and vision of one day selling it. A 100K a year profit business could potentially sell for 15x as much
ChatGPT finished by reminding Joseph that business success requires hard work, dedication and a willingness to adapt. Check it out for yourself in the original article here.
As the first two stories and countless other examples show, anything is possible!
This week's chronicle unveiled the magic of digital products, the power of diversification, and the potential of AI.
Remember, no matter your path, the key is to identify a need, create value, and make smart investments.
Thanks for reading,
Cashflow Chronicles Team
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