January 1, How This 38-Year-Old Earns $160K Per Month in Passive Income

Graham Cochrane lost his job at age 26. Now, 12 years later, he’s raking in $160,000 every month in passive income.

Cochrane, 38, decided to make a music blog in 2009. His site, The Recording Revolution, now earns $40,000 per month. His success is also how he makes his other $120,000 each month — through his online coaching business, where he teaches people how he made his blog so profitable.

Here are Cochrane’s three tips for those aspiring to follow in his footsteps:

1. Sell your skills.

“The turning point for me was when I got the idea to turn my knowledge of audio mixing and recording into an online course. Selling digital products provided a passive income stream and allowed me to make far more money in a day — while putting in less time.”

2. Provide a free sample of what you can offer.

“A core belief of mine is that givers prosper. My entire business is built around giving the best free educational content, even when I could charge for it,” Cochrane said.

3. Build automatic systems.

Cochrane says the majority of his marketing and communications are automated emails.

“Focusing on email means that I don’t spend hours on social media soliciting people in their DMs. I let content and email automation do the heavy lifting for me,” he said.

Source:

This 38-year-old makes $160,000 per month in passive income—after losing his job: ‘I work only 5 hours a week now’