Tag Archives: side income

What Was Your First Passion Project?

When I got my first job in the summer of 2009 working at a car insurance company, I had no idea what to expect. I didn’t know what type of projects I’d be working on, I didn’t know which programming skills I’d be using, and I didn’t know how I’d adjust to my 9-5 job. But the one thing I did know is that I would be working.

What is a Passion Project?

A passion project is something you put time and effort into more because you are passionate about it than because you’re expecting an immediate return on your investment. You think it can become something, but you won’t find out until you put in the effort.

It’s not simply a hobby that you’re doing because it’s fun (though it can be), but something that you feel strongly about that can make a difference in your life or business.

My First Passion Project

As it turned out, I was dead wrong thinking that I would be working 40 hours a week. There was very little for me to do beyond reading and basic training exercises with my computer, and as a result, I had nearly 40 hours a week to do nothing at my desk. I asked for work, but there simply wasn’t much for an entry level systems analyst to do during the first 6 months of my job.

As a result, I started this blog just a few weeks after starting work. I was extremely bored and I had been reading non-stop. So I decided to start writing about personal finance. I spent at least 4-6 hours each day on the blog. That included writing, reading and commenting on other blogs, and networking with other bloggers. It was exhilarating. I was able to learn a lot, but about personal finance and blogging, and I started something that was my own.

It felt great, and despite being trapped in a cubicle for 8+ hours a day, I kept myself busy and I was no longer bored. I even spent time every morning before work and at night after work checking my stats obsessively and making sure comments responded to.

I’ve had other projects that I enjoyed a lot and put a lot of time into, even if they weren’t income-building projects. But there’s been nothing that I obsessed over quite as much as the blog in the early days. I used to joke that I was holding down two 40 hour jobs while at work. It was very impressive.

What Was Your First Passion Project?

I used to think that people worked during the day and just hung out and relaxed at night. But the more people I speak to, the more I realize that there are a lot of people who have side projects with the hopes of earning some extra income or possibly replacing their full time job.

Do you have a passion project that you spend time on outside of your day job? What was the first time you put time and effort into some you believed in without any guarantee of getting anything in return?

Secure Your Future by Developing Multiple Streams of Income

If you are like most people, you work hard at your day job. Maybe you used to make what you considered a good salary, but now, with the economy, your income seems to be dwindling. Perhaps you haven’t gotten a raise in several years, or if you have gotten a raise, you simultaneously face an increase in health insurance premiums, negating your raise. Then, there are the increased gas and groceries prices which are costing more of your paycheck. To make matters worse, your employer may ask you to work more hours than ever before and also assume other work that wasn’t previously part of your job.

Sound familiar?

In this kind of environment, you may think it is wise to develop alternative streams of income, and I couldn’t agree more. The more income streams you create, the more money you are able to generate and the more secure your finances become. If you lose one source of income, there are several other streams of income from which you can draw.

The Internet has made it much easier for people to develop additional income streams. There are so many ideas you could choose from. You could choose to blog, become a freelance writer, be a virtual assistant, or create an online store.

Of those choices, the one that is the most passive is an online store. Decide what you want to sell, find your product, set up the website, chose a secure method to offer for payment (there are many merchant account processing businesses to choose from), and launch your store.

Of course, it is not as easy as that. You will need to market your business and advertise, and you will also need to handle customer orders and complaints as well as keep inventory. However, you can make your online store more passive by selling your own ebooks, for example. Then, you don’t have to worry about keeping up with inventory. Sure, you invest your time in the beginning when you write and produce the ebooks, but once you have marketed them, you can find that you sell copies and make money while you sleep!

The current economy has made it difficult for many people to get ahead. Now is the time to take steps to change that. Decide what is the best way for you to create multiple streams of income. You will feel much more secure knowing that you are not solely relying on your employer and his decision to give you a raise or not; you have also created your own income sources.