Want to make money while you sleep? This is how!

Building a passive income machine 🎰
Seth Kniep
November 9, 2017
Entrepreneurship
Walk into your garage. Maybe it’s a cold and empty room with a cement floor. Maybe it’s full of furniture, broken down bikes, and miscellaneous pieces of hardware you've accumulated over the years. Maybe it’s a clean and furnished workout gym (that's what I'm planning for!). Whatever it is, imagine that right there in the middle of your garage, you build a machine. This is your Amazon store.

It takes time to build this machine. You have to put money back into it. It might take you weeks or even months to build. But once it’s built, it will serve you.

You can’t design your machine so that every time you want it to make you money, you have to turn a handle. You can't be working constantly to make it work: otherwise, when you stop, it stops. You've traded bosses from a corporate job to a different kind of job.

Instead, you have to go out into your garage, grab your hammer and wrench and tools and build up a machine. Yes, it’s hard. It takes a lot of work up front. But once you’re done, this thing makes money for you while you’re sleeping! You can get up in the morning, look at your phone, and see that you’ve made $2,000 overnight. You didn’t have to go and get up and turn the handle on your machine.

This is a simple example of what I’m doing. Here are a bunch of small items I’m shipping off to Amazon FBA. I got out my notepad and did some simple calculation to figure out how much time I’m saving by sending these items to Amazon FBA instead of shipping them myself. 

There are about 294 items in these boxes. If it takes me five minutes to fulfill an order, pack it up, and ship it out, we have 1,470 minutes. That’s 24.5 hours of labor. That’s a lot of time.

If 10% of these customers had a question, and it takes me 3 minutes to answer each question (which is being pretty soft), that’s 87 minutes spent answering 29 questions. An hour and a half.

What about returns? Let’s say 10% of these ended up as returns. If each return took 10 minutes to fully process, that’s 290 minutes. Five hours.

Conclusion: 31 hours of labor. That is four regular 8-hour work days on average.

Think about how many products I can find in four days of work instead of dealing with shipping and monitoring these products. I can send these off to go make money for me and save me time. If the products in these boxes, long labored over and many hours spent researching and testing on, do as well as I suspect they will, it will make me money for months, maybe years. Each product is a little machine. I’m building machines to make me money.

This concept does not just apply to Amazon. If you have a website, you can turn that website into something that is converting your visitors. I can’t tell you how many people I’ve talked to who don’t have people coming to their site. Or, if they do, they could be getting 2,000 people a day, but they’re not turning them into paying customers. They’re not building a machine.

This is why I love coaching people. The things I’ve learned just over the last three years have brought me over $500,000 in the last seven months. I can train you to get there. If you’re interested in getting help, let me know. I hope the principle is of use to you.

Build machines that will serve you. Delay gratification. Don’t be the microwave generation: be the crockpot. Wait. Watch. Invest. It will pay you back well.

 

Mind your medium

Different content works for different platforms!

I’m on Instagram and Facebook because people (myself included) want inspiration and a sense of community. But my YouTube following is HUGE compared to these other platforms because so much of my content is geared towards tutorials!

No one’s on Facebook to watch a half hour video on how Trump era tariffs affect Amazon sellers.

But no one’s on YouTube to watch a still picture of me, no matter how good my photo team is.

This is how I save face...
And they are good.

Know the kind of content you’re able to commit to, and make sure it matches up with the audience you’re building!

Keep up consistency

Taking daily medicines.

Working out.

Building a business.

All of these things need a regular schedule to be successful! Conquering social media is no different.

Maybe you don’t have time to edit enough photos of your anti-gravity olive oil cruets to meet 15 quality Instagram posts per day. That’s fine!  You just need to stay in your audience’s feeds on a consistent basis so your company stays relevant.

Keep your online presence limited to no more than three services as you build so that cross-platform consistency isn’t an issue.

Don’t try to copy the greats

If we found a person isolated from modern society who’d never heard the name ‘Nike’ before, I guarantee you that they’d still be blown away by the company’s Instagram account.

It’s amazing shots of incredible athletes from all over the globe, famous or not, and completely mindblowing stories told before you even read the caption! They’re killing it!

That’s not where you are right now.

This is a hard pill to swallow, but you’re not Mark Parker, my friend. You don’t have his resources vis-à-vis money, time, and team members right now, and even when you’re making millions each month, your brand will NOT be Nike.

And that is 100% OKAY.

Get ‘Be like -’ off your vision board, and develop a style that’s true to your vision and the needs of your audience, not anyone else’s!

Always funnel

We’ve all been there with that Facebook friend who’s clearly caught in a pyramid scheme and spamming every picture, post, and comment with their personal affiliate links.

It’s annoying...but you can still learn something from their approach.

Unlike “That Friend”, you’re not talking to your relatives and acquaintances. You’re creating content specifically to sell your product.

Does everything you post online need to end with an all-caps ‘BUY NOW’?

No.

If you don’t go for the kill right away, you still have the opportunity to make your viewers engage more with your content, their community, and build up the brand in their minds until they’re actually ready to commit!

The important thing is that you continue to woo them, pursue them, and put everything you want them to grab within their reach!

We’re past the point of pointing out we’re past the point of opting out of social media, warrior, so don’t log on with a plug n’ play mentality.

Get in there, and #win!


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Seth Kniep

Married a pearl. Fathered 4 miracles. Fired his boss. Turned a single dime into $104,857. Today, a self-made millionaire, Seth and his team of 8 badass coaches teach entrepreneurs how to build passive income on Amazon.

Dead serious about building income on Amazon with eight successful coaches in a community of badass Amazon sellers? We created something we've never done before: the Amazon Growth Bundle full year coaching course.

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