3 ways to help this person work 5 hours/week and still earn 160,000 USD/month from passive income
Graham Cochrane is the founder of The Recording Revolution, the author of “How to Get Paid for What You Know” and a business coach to more than 2,800 clients worldwide.
Each unemployed person only earns about 800-1000 USD/month, along with financial pressure after having children, Graham Cochrane tried to find his own direction by building a music blog with the name. “The Recording Revolution” .
With a background as a music producer, Graham decided to create “The Recording Revolution” because he thought the online space would make it easier for him to get customers.
In 2022, “The Recording Revolution” alone helped this 38-year-old man earn $ 40,000 a month. Besides, as an online coach, he also earns about 120,000 USD/month. The content of the course is the drawing of my own experience in the process of building Graham’s successful “The Recording Revolution”.
Now, at the age of 38, Graham says he’s accomplished something amazing: Working two jobs at the same time for just five hours a week, earning $160,000 a month, and spending all his time. The rest is for the family.
He shared the secret to that success below:
How to turn your passion into a business
Graham started “The Recording Revolution” with a blog and YouTube channel to share what he knows about music.
At first, he posted three blogs on his website and one video on YouTube per week. The content shares quick, step-by-step instructions on various recording and editing techniques, along with product reviews and interviews with musicians and producers. In the first year, his daily views on Youtube increased from 60 to 2,000 per day. As the audience grew, so did Graham. Initially, the income level was only from 200 USD – 1,000 USD/month from video and advertising sponsorship. To earn this level of income, Graham built a set of documents showing the page’s traffic, sent to brands whose products their audience liked the page. Along with that is the ad content and the appropriate ad placement he can place on his site. By 2010, Graham had discovered the lucrative “key”: Build and launch personal digital products, like e-books or online courses, that teach people valuable skills the price he got during his career.
How to make 160,000 USD/month from passive income
In April 2010, Graham created and sold his first online course, which taught customers how to use the popular Pro Tools recording software for $45.
He uses a screen recording software called Screenflow to record his computer screen and voice. To attract subscribers, he offered a free eBook. About 500 people signed up at his first online course sale. In 2012, Graham expanded and to date, he has sold dozens of online courses through The Recording Revolution with prices starting from $67 to $397.
Revenue from October 2018 to September 2019 is 1 million USD. In 2021, after stopping production of daily content, The Recording Revolution brought in about $ 40,000 / month.
Graham’s second business, which teaches people how to monetize their knowledge and passions as he did, launched in 2018. In six months, Graham generated a passive income of $120,000/ months from an online course called Automatic Income Academy, Six-Figure Coaching Community, a high-level business coaching program called The Epic Mastermind and affiliate commission from a company called Kajabi.
Only work 5 hours/week and spend the rest of the time with family
Currently, approximately 2,800 business owners are using Graham coaching products. The goal of the training courses is to help business owners grow their online businesses and reduce working hours.
Starting out on social media as a side hustle and then committing full-time was what changed Graham’s life. His original dream of becoming a musician has been replaced by what the 38-year-old is now doing: Helping people live more lucid, flexible and meaningful lives.
And Graham offers three pieces of advice if you want to be a successful entrepreneur:
1. Sell your skills to earn passive income.
When you offer a service, there are two main ways you can make more money: getting more customers and increasing your reach. But this can be a problem because you can only receive a maximum of a number of customers in a day and the amount of charge is always limited.
Graham’s plan was to take the idea of turning knowledge of audio and recording genres into an online course. Selling digital products provided a source of passive income and allowed him to make more money in a day – while spending less time.
2. Offer a certain service for free
Graham has a belief that is Give and you will receive. His entire business is built on providing the best free educational content, even if it costs money. That’s why he has a blog, YouTube channel and podcast.
Each piece of valuable content that Graham offers will act as a magnet for people, through the power of search on Google or YouTube. It’s a way for people to discover and build trust with him
Then when he sold a premium product, they were willing to pay for it.
3. Build an automated system
Working just 5 hours a week keeps Graham from getting burned out and makes it easier to spend more time with his family. However, this would be difficult to do without an automated system in place. Most of Graham’s marketing and follow-up communications with clients are through an automated email system.
(According to CNBC)
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at Blogtuan.info – Source: cafebiz.vn – Read the original article here
