As you start telling me about the wonderful profits from your stores, this is a question I get asked almost daily now.
Now, I’ve seen this time and again.
Someone buys a nice little site or some sort of residual income stream.
Good so far, right?
The site makes, say, $1,000 a month.
So, what should you now do?
Sell the asset, of course, seems the logical answer.
You might get $5,000 to $15,000 for it, depending on what it is, how little work you have to do and so forth.
Now they have the bills paid and maybe go on a bit of a spending spree, but no asset and no residual monthly income.
Of course now they have to do it all again – build an asset, tweak it and wind up having to sell it to pay bills.
Did you spot the mistake?
It’s hard to miss.
If the owner had spent just enough time testing and tweaking…
…And then moved on and REPLICATED the process…
S/he would then have TWO assets each creating $1,000 a month in residual income.
Then rinse and repeat.
Building one asset a month … well, that’s $6,000 a month in residual income after six months, along with assets totaling maybe $30,000 … or a lot more.
As you’ve already guessed, the point is that while you do want to test and tweak whatever it is that you’re doing online, you don’t want to make a career out of it.
Optimize it the best you can as quickly as you can, and then replicate the process and build another one, and then another one, and then another one…
In the above example, our store owner could have started selling one asset (product, store, etc.) per month after six months or a year, to again greatly increase their monthly income.
Do what you need to do, please, but don’t make a career out of making a few extra dollars while leaving piles of money on the table.