As you’re reading this, I will be flying from Fort Lauderdale, Florida to…… I can’t say just yet. You’ll have to be connected to me on Facebook to find out where I’ll be in the world to ring in the New Year. But, I spent a lot of time on airplanes this year flying to speak at events and consult at companies literally all over the world. I loved all of the amazing things I got to experience.
To me, this is what a lifestyle business is all about. I often get asked about that term and why I call it “lifestyle business.” I see this as building a business around the kind of life you want to live. That business normally involves writing, speaking, consulting, coaching, and the selling of digital information products. BUT, the main goal/by-product of a lifestyle business is a life of freedom. You have control of your time, energy, motivation, and every part of your life.
It’s a business and life many people would love to live but the making money part is hard. I have known and seen so many dreamers work very hard for a long time and still not build a lifestyle business to the point where it supports the person and/or their family. It’s frustrating. Today I want to give you a sneak peak at the money part of a lifestyle business. I want to show you how I make money and maybe give you a few ideas about some things you can try in your lifestyle business. If you have been following me for any amount of time, you know I like to keep it real and don’t hold back.
1. Book Royalties
I am the author of four books. My first book is still self-published, so I get that income directly from Amazon (see below). Two of my books (Are You Living or Existing? and Stop Chasing Influencers) are with publishers, so I get a royalty check from the publisher four times a year. I have a fourth book that will be released in the coming year. Above is a screenshot of what a royalty check from a publisher would look like. These checks have ranged from very large to smaller (at times) over the last five years. It depends on the time of the year, how old the book is, and how much I have marketed the book. Even with a publisher, you are responsible for the marketing.
Books can be a great way to make passive income in your lifestyle business. Over the last five years, income from books is what got me out of debt and paid for the foundation of my lifestyle business. Books don’t have to be this huge daunting thing that takes forever to write. You can write shorter books about specific topics and publish a bunch of them. As you do, you add to your income and create passive income. You can create a steady income stream throughs books and give yourself credibility because you’re an author.
2. Digital Products, Live Classes and Coaching
This is a screenshot from my sales online in the month of November. This number represents sales of my courses, live classes, and some coaching income. The beauty of a lifestyle business is that you can spend the time to create digital offerings and once the work is done, you can sell them passively for years to come. I prefer to offer live classes because my audience wants to be on a live training session for the networking benefits and to get their questions answered. You can see some examples of what courses I offer here and coaching here. To me, a good lifestyle business has multiple and diversified streams of income.
3. Speaking and Consulting Income
Consulting income is my #1 income source in my lifestyle business. Speaking is also a great infuse of cash several times a year. Above is a screenshot of one of my speaking contracts. Speaking gigs have ranged anywhere from $1,000 to $20,000. The first “real” consulting contract that I booked was in September of 2015 and it was for $20,000 (they paid through PayPal). You can see that reflected in my income in the screenshot below. I have written a lot about speaking and consulting but they are a great addition to any lifestyle business for a variety of reasons. You can make a couple of dollars and travel the world.
4. Paid Writing
This a screenshot of some paid writing I did for the website AskMen.com. They pay well in the paid writing space and it helped me build my audience. I have several places like this that I still write for and are paid. It is a great way to make some income while doing what I enjoy most: writing. There are several publications that will pay you for your words. And, this helps you diversify your income.
Today, I just wanted to give you a glimpse into what I do and what’s possible for you if you have a lifestyle business dream. I will be getting specific into each of these areas as the year unfolds. I will teach you how to find and land each of these pillars of a lifestyle business. Get ready, start planning, and take the first steps.
What are your lifestyle business goals in 2017?
If you want specific and in-depth help building a lifestyle business, check out the best program that I offer: The Results Mentorship Program. This five-week (intense) mentorship program will teach you how to start, grow, and scale a lifestyle business that makes $5,000 a month and more. Register before the early bird price ends on January 12th.
