Random thoughts on most things from A. M. Craig.

Wednesday, November 12, 2008

Passive Income

I don't want to be a wage slave. In my career, I don't ever want to ask for a raise, like I'm getting permission to stay out late. I'm an adult, I shouldn't have to ask permission. If I succumb to that setup, then the institution has gotten me. They've fully domesticated me into a numbed servant.

The more I think about it, the more convinced I am that an entrepreneurial career is the only way I can work and be really satisfied.

Hourly wages don't make any sense to me at all. In my current job, I am incentivised to work slowly and inefficiently, when in fact, my employer(s) would be better served by a quick turnaround on projects. They should be paying me reverse-hourly wages. I should start with a certain pay, and have deductions made progressively as my delivery time lags. That way, I'm paid well if I focus and complete projects on time, and my employer gets the product faster.

I want to get paid, not for my time, but for the value I deliver. I only have so much time. I have infinite value.

I want to set up multiple streams of passive income. An example is something I did this summer. I spent an afternoon drawing this picture of Barack Obama. I did it at the beginning of the summer, and had meant to do it much earlier than that. But I drew it and uploaded to a site that sells your designs on tees and gives you a commission. All you have to do is design and upload.

Want one? Click Here.

I've made over $70 in that time, from $3 commissions. I did that in one afternoon. I should make a habit of this.

And this is with NO promotion on my part. I've already shown that I can do guerrilla promotions successfully. If I'd pushed this at all, I think revenue could have been, would have been (will be?) multiplied many times over.

This isn't event the tip of the iceberg. There are a thousand different opportunities for passive income, little money machines waiting to be built, seeds to be planted. I think I'll start planting.

NOTE: That shirt is more a sign of my entrepreneurial penchant than my political leanings.

5 comments:

Emily said...

My favorite part is the clarification at the end.

amy said...

ryan audited an awesome class on entrepreneurialism (say that ten times fast) at the U. i wonder if they have one at the B-Y that you could sit in on? all i know is that every monday night, ryan fully intended to take over the world.

i think entrepreneurs are the best.

Nancy said...

wait you can buy it in a t-shirt or put it on a tree. I'm confused. Did you say tree or tee?

Austin said...

In a t-shirt? on a tree? Nancy, those don't even make sense. You can buy it printed on a t-shirt, or a number of other items. There are lots of sites that will do that.

Jasie said...

perfect. sounds like you know what you want to do with your life now. dang, you are going to be successful.