Passive Income and Time Management
I’ve never worked for myself before and in the pursuit of passive income I have had to develop my own systems to become more efficient.
In fact I have come to realize that the whole routine of going to work was one of the things I really,really hated about working for some one else, that and having to do what I was told of course!
That said I had to develop my own time management system – something that would actually work for me. I’ve ended up using a combination of a paper diary – I know quaint, but I kept missing appointments because I didn’t have a calendar app on the computer, and an electronic time sheet called SlimTimer – its really easy to use, runs in your browser and is free, can’t ask for much more than that really.
Given that I have fought against time sheets for years at work I can’t believe I am actually voluntarily using one (and yes for more than a week to!) – I started it to track exactly how many productive hours I was doing, I don’t track freelance writing or anything else – just the work going towards my passive income business. I don’t include procrastination either so that I can really see when I am having a bad day!
Scarborough Beach, Perth, WA
I’ve also discovered that it really is more productive to walk away if I have a mental block or a lose focus – this usually happens around lunch time and while the sea is still warm, the surf is up and the weather pleasant I head down the local beach.
On the other hand I really don’t mind working on weekends – though my partner does ocaisionally want me to do something else! That’s probably helped by the last few months being the best time for public holidays in Australia! We try to get out of town for most long-weekends and I have taken to not taking the laptop, just the little netbook which is more a diary than anything (regional Australia has woeful Internet access).The break seems to give me a chance to step away from the detail and remember the big pictures.
The last trip was swimming with the whale sharks at Easter gave me 4 days of driving to contemplate mybusiness – and I have to say I am pretty happy with it so far!
Some more income would be nice but at the moment I am just concentrating on building websites so they can start ageing – then next month is going to be link building frenzy time !
How do you guys balance working from home and family or a part-time internet marketing business with a “real” job?
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19 Responses to “Passive Income and Time Management”
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I love your blog because I was having a bad hair day and now I feel better. Your blog made me want to buy hair spray and fix my hair.
Thank you for your help.
Ben.
LOL you forgot to keyword anchor your hair spray site!
Time management is always an issue when you work for yourself. I find myself drifting if I don’t have specific goals set for myself on a daily basis. I have 3 children so effective time management is critical for me. I generally work while the youngest is at school and after dinner. Thankfully we don’t have to put in a 9am to 5pm day to achieve our passive income dreams, 2am to 4am works just as well. (lol)
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I don’t know how you manage kids as well! Of course here I am still working at 10pm and I started 7am! Oh well did get a swim in the middle of the day!
I also work a day job, and have a newborn child to tend to so it makes it hard to get in a good days of work on the internet. I set a work schedule though, monday through friday I work from 6-10 pm, giving me some time to hang out with the fam, my ol lady hates me working so much but when I bring home that extra cash that keeps increasing every month she has been more encouraging. On the weekends I try and put in 8 hours a day if I can. And I build at least 10-15 sites a month, hopefuLLy in six months I can quit my crap job and do this fuLL time
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I look forwarding to hearing about your resignation letter being sent
I really admire who do this juggling a family!
Lis you’ve just got to get yourself some calendar software. I have the basic Microsoft works calendar and I love it.
Whenever something needs to be done it pops up and tells you, right in your face.
But of course that doesn’t track productive (and non productive) time so well. Maybe there’s an opening for some new software to develope/sell that allows you to track the time you spend on different tasks and spit it all out at the end of the week to tell you exactly how much time you’ve wasted on what!
Peter askimet doesn’t like you
The only thing I would use outlook for is the calendar function – I am certainly not paying for that LOL The slimtimer software I mentioned does a good job of time tracking
Hi Lis,
The time involved really is the issue. In reality it appears that most of the work involved in building an internet empire is really busy work. There is very little that is difficult once you have the basics down. My problem is I now know what to do, it is just hard to find the time.
I get up an hour and a half early in the morning and write before I go to work. Sometime I can do some things at work when no one is looking. Like commenting on blogs. Then I try to work 2 hours at night but it is hard with kids and then for some reason the wife wants to talk to me sometimes.
I can really see how developing a good outsource program would be beneficial but I am trying to bootstrap the business without a lot of funds and reinvest what I make.
I am not complaining. I like what I am doing and I can see the potential I just want it “right now,” he says as he stomps his feet and holds his breath.
Thanks for the encouraging post, I always like reading what you have to say.
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The entire system is screaming out for automation- Court/Mark are doing a webinar in the Keyword academy today on this very subject – I’m looking foreward to it. If I still had a real job I’d be looking to outsourcing, particularly content as much as possible. I found even having a part-time job as very difficult to focus on my business, but then I struggled full-time – go figure. This month has been very productive though even though we were away for a week over Easter.
Time management is a very difficult thing for me right now. As I am the sole income earner for my family through my normal job, I have to be very efficient with the little time I have for creating my passive income streams. I also need to factor in spending time with my boys, wife, and other family and friends. Unfortunately, I sacrifice sleep and any other free time (vacations, tv, movies, etc.) so focus on passive income.
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I really admire anyone who can juggle jobs and kids with this game – I am lucky my partner is addicted to computer games!
Great Question,
I think it depends on what you want out of your business. Everyone is different. It is my plan to hire everything out eventually, as long as the ROI is there you can leverage your business and really grow. So far I have hired one in house editor that edits articles that I outsource to have written $2-$5 each, she cleans them up and Americanizes them. She also will help with backlinks comments, forums etc. I have a graphic designer at my regular business and she has started building sites and blogs when she is not busy. She can’t code so its basic stuff. I have spent quite a bit of time and money building sites and foundations and have not monetized a site yet, it will probably be 3 months before I do. In the mean time I’m going to take a crack at PPC.
With my offline business and starting the internet business it is long hours. I will let up a little this summer as my 3 boys will travel the country playing baseball and my wife and I try and keep track of em. As long as I get my Beer at the end of the day all is well and I will not complain
bk
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Hi BK – yes I think hiring out most of it is the way to go – I don’t want real physical employees but I will use overseas contractors. The old work on the business not in the business idea. In the meanwhile I need to do most of it myself just so I thoroughly understand what I am doing – oh and to make some money to! Thanks for stoppping by – love your today blog style!
Lots of great info in this thread. Thanks Guys.
I had to cut out most of my workout time in order to spend more time with internet marketing. It really sucks cuz I drink lots of beer and my workouts were the only thing keeping my gut and side handles in check.
I guess money wins out over being in shape, and so does beer drinking. You think I need help? LMAO
AL
Definitly you need help – your spelling is crap -I had to fix up your url – there was a u in it somewhere LMAO! Why do you think I use my own name for this url – I can usually spell it right! Well now you have combined beer drinking with IM you can go back to workout right? Actually I’ve very aware of the same issue – my partner gets me off the sofa and into the dance studio about 5 times a week which helps.
I mostly work on websites and such as a hobby, I guess that’s until I can start making enough to quit my day job.
I’ve gotten so dependent on my phone for keeping my schedule organized that if I don’t have it with me I feel like I am missing an arm.
Passive income is what I really want. I have been dreaming of earning a lot for my parents.