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.

 

So what moved her to redefine centuries of tradition? Wasn’t it enough that she and her sisters were women poised to take charge? What motivated Hanzade to disrupt even more ingrained culture, and rattle the stars with something different?

To paraphrase? She wanted to be head of her own table! 

Looking into her past, that was literal as well. According to her sister, 

“My father used to sit at the head of the dinner table, and when Hanzade was young she made a big issue that she was going to sit at the head of the table."

Dogan-Boyner had been going against the grain for years in the face of family friction, cultural tradition, and advice from “experts” stuck in old business, and she succeeded tremendously!

So what makes us any different?

Okay, sure. I personally didn’t start out as a scion, but the drive to disrupt transcends differences like ethnicity, class, country, and gender! If we want to be real? Starting any business is "going against the norm" by default!

Some of us know how hard it is when you have your family telling you can't do it, that you're crazy, and that you're sacrificing security for a pipe dream, not to mention our own voices in our head screaming, "Who do you think you are?"

So what? 

Do it with doubts! 

Do it afraid!

My reaction to “You can’t”,  is always “Watch me”.

I won't tell you that makes it easy.

Christian Fregnan


One day, I got up, had a headache, brain was scattered, felt pulled in 10,000 different directions, and did not feel like coming in. I got to the office and told one of my staff members: "I just don't feel like being here today."

Yes. Me. My work is literally my margin, and even when the haters are (mostly) silent, when the woman I love most is on my team, and when I have amazing tea delivered straight to the office—I 100% have “those days”.

But am I risking being cut off from family, inheritance, and my home country? NO! 

My obstacles and challenges today don't come anywhere close to the odds stacked against Hanzade Dogan-Boyner’s quarter billion dollar wager.

This is why I started Just One Dime.

I was so sick of gurus selling how cool they are for breaking the rules—I wanted people to feel their rebellion can bring friction and can cause them to struggle. And there’s no shame in that! We can all be 100% honest and transparent about it!

I’ve seen Hanzade's story spun into a man versus woman battle.

I’ve seen it spun as an old vs young battle. 

I’ve even seen it as a West vs East thing! 

But I don’t see it that way. 

Her story, like mine, like Oprah’s, like my students’? It’s all about flipping the stage, using disbelief as your fuel, and pushing forward! 

We all have that power! 

The only question is: Do you have the desire? 

I want to share more about what we can learn from transparency with the world, so the team and I are going to SXSW2020! 

But we need your help to get there!

The Panel Picker is now open, and we want to help some of the 150,000 members of SXSW learn how to find the vision for their purpose at Austin’s biggest convention of the year!

Want to show your support for Just One Dime?

Take four simple steps:

1: Register for a Panel Picker account

2: Search the panels  

3: Type my name, Seth Kniep, in the search bar, and open the top two results

4: Click the up arrow at the left side of the screen to upvote us, and leave a comment! 

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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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