A Baby Step Towards Becoming a Millionaire

There are some steps I’m taking on my journey to grow my income and become a millionaire. Today I want to talk about a baby step I took recently on my journey towards $1 million per year.

0:00 – Introduction
1:40 – Understanding a bit about my business
4:15 – My baby step is: Paying people to write articles
7:00 – Investing in assets that generate income
8:40 – A big realization that the work I’m doing is only worth $45k/year
10:50 – A shift in mindset
13:55 – Do I even want to get there? Or do I want to focus on lifestyle?

Recommended Videos:

Exploring Financial Freedom (Financial Freedom Doesn’t Make You Happy)

Can I Go From $100,000/year to $1 million/year? A Rant

My Financial Gameplan (2020)

The Unsexy Side To Achieving Financial Freedom

Transcription:

hey all you amazing people i’m ryan and today’s episode is going to be a personal chat about some steps that i’m taking on my journey to grow my income and become a millionaire basically which kind of sounds ridiculous to say but the other day i had the realization that i could go so far with my current mindset and earn a decent amount of money with my current mindset working by myself writing articles and doing stuff like that but i had this realization the other day that earning ridiculous money what feels like ridiculous to me we’re talking a million dollars per year someone earns that someone does it so it must be possible so previously that was completely outside my realm of possibility didn’t even think about it i wouldn’t even imagine it wouldn’t even dream a life like that because it just i don’t know why but i just believe like that’s that’s not for you that’s not possible that’s not the life you’re going to live and i was on the beach with my partner crystal and looking at these waterfront houses and thinking someone earns that money and i had this realization the only person stopping you from achieving that is yourself and your own belief systems so i did a full episode kind of working through that together together all by myself but on camera so you can follow on the journey i’ll link up to that down below and today i want to share with you some steps that i’m actually taking towards that now this is a baby step i haven’t taken huge massive steps or made massive investments or anything like that but this is what i think is kind of a monumental baby step along the way if that’s even a thing so to understand you first need to understand a little bit about my business and i run an online content business so i write articles i make podcasts i do videos like this one but i have a bunch of different channels and websites so i got on property but then i got a bunch of others in other niches as well so i write the articles or make the videos and then over time they generate passive income so you write an article once it’ll generate traffic to your website and advertising revenue you know perpetually for you know kind of three to five years sort of thing until it tends to taper off i’ve got some articles that are still going strong ten years later and doing well but you know a lot of them tend to last a couple years and then taper off so i was looking at my business and what i can achieve i’ve always done everything by myself write all the articles format editing making the videos all by myself and i was looking i guess at the three year time span which is how far i can look and i thought okay given the work that i’m doing if i keep doing this for the next three years if i get the results that i think i’m going to get probably looking at a pretty decent income you’re talking mid six figures sort of range somewhere between you know 100 000 uh if things don’t go well to 500 000 if things go exceptionally well and everything goes to plan which let’s face it it never does but kind of in that sort of range which is amazing money don’t get me wrong like that is incredible i’m incredibly humbled and grateful that i have the skills that i’m able to do that and the patience and the dedication to put in the work to make it happen because it it has been hard and you can see in some of my videos i’ll link up to my game plan down below where i talk about how i basically worked an entire year full time for nothing in order to build up this business or my video on the unsexy side of financial freedom i’ll link up to those down below you can see some of the tough times but i’m extremely grateful for that and that’s great and there’s nothing wrong with that i could very happily have a great life like that i’m also very happy in and of myself and that i don’t need a million dollars in order to be happy i used to pursue financial freedom think he would make me happy i achieved pseudo financial freedoms for my business i wasn’t happy i kind of found what made me happy or you know i’m working on that every day and i’m pretty happy at the moment even without great income so the goal isn’t to earn more money to be happier it’s just like i love the challenge and i love the progress so this monumental shift and what is the baby step i’ve been talking for minutes now without even sharing it the baby said is this i’ve always written and done everything myself and my baby set was i actually paid people to write articles for me so it sounds huge no it’s not huge i invested you know maybe a hundred dollars into getting two to three articles written and that was it that was my step i did some research into different businesses that can create content for you so they have writers or contractors and you pay a set fee for an article so in this case i think i was paying 30 u.s for an article so you’re looking at around 40 45 australian dollars in order to get a 1 000 word article written now to me that seems ridiculous like i could easily write those thousand word articles probably in an hour maybe two hours and i just thought oh like for what i’m getting and what i’m paying just doesn’t seem worth it and so it was so hard to kind of step over that barrier and to be like okay i’m actually shifting things now from just doing everything myself and i’m now investing money in order to hopefully see a return and i’m starting really small because i’ve made massive mistakes in the past where i’ve invested my entire life savings into things i’ve done it a couple of times and lost a lot of money so this time around i’m like okay i don’t need the money from these articles this is not a get rich quick scheme this is me taking baby steps to learn okay how do i outsource content how do i get writers how much is it worth paying do i need to actually hire writers myself but this is these content places you don’t have to hire anyone you just pay them the money and you get an article back so it’s a real baby step probably overpaying for what i could be getting but it’s a step in the right direction and i did the numbers on my business and looked at okay how long does it take an article generally to earn around 30 us dollars and it varies depending on the article but somewhere in that 9 to 12 month range for an article to earn its income back or to earn 30 back so theoretically if this goes to plan then if i invest the money within one year i should have that money back and i’d have the article that that person’s written now those figures are based on my articles i know how to write really well so maybe it’ll take longer than that maybe these articles will perform really well and it’ll be shorter than that but i really like this idea of okay i’m spending this tiny chunk of money to invest in an asset and for me it’s an asset within my business so it’s an article and ideally that article at some point is going to pay for itself so i invest the 30 dollars ideally within 9 to 12 months i’ll get that 30 dollars back so within a year that article effectively just becomes a free asset or something that you know i have no money invested into it’s just kind of there and hopefully that would then go on to earn another 30 or 60 dollars per year for the next three to five years and so you can start to see that okay within a year you’re getting your money back or you’re getting 100 return on investment and then you’ve still got the asset and so this is what’s really cool about this and really cool about this step is that i can only write so much i can write about 10 articles a week consistently if i want to do that and so i can do that i’m going to continue to do that anyway but that limits me to how many articles that i can write whereas if i have extra money which i do and i invest that money into other people writing then the return on that investment could be great could be better than property could be better than shares a lot faster maybe it won’t last for as long it’s obviously tied to more risks with the business and things like that but that’s feasibly a way to grow my business a lot faster so if i let’s say i write 10 articles per week and let’s say i pay for 10 articles per week as well that’s 300 u.s per week or about 15 000 usd per year that i’m investing into other people writing does that mean okay i write articles probably twice as long as this but so even fifteen thousand if i did the longer articles thirty thousand dollars u.s so you’re looking at around forty forty five grand australian like that’s what the bulk of my work is i’m just really realizing right now as i’m recording this i’m effectively paying myself 45 000 a year or that’s what i’m my time is worth because i could just pay someone 45 000 a year or pay these content services in order to generate that content for me so effectively the most of the work i’m doing is worth about 45 000 per year ideally it’ll make more for the business but it’s like okay i could outsource that for 45 grand australian see this is like this is why i’m recording these these little breakthroughs sort of happen i took these baby steps i invested 60 us dollars that was it about 100 australian if that into these two articles to start outsourcing and it’s like okay i’m making progress i am starting to think about my business differently so previously i just think okay how much can i write how those articles going to perform and my entire business and days are structured around okay ryan you’ve got to get this writing done but now just investing this little bit of money my whole world is starting to open up and my mind is starting to open up to say okay well the bulk work i’m doing is only i could pay someone else this much per year to do it for me i wouldn’t have to do it i could get my money back within a year potentially obviously i need to track all of this and see if i’m actually getting a return on investment which is why i started slow with just a couple of articles and also there’ll be processes behind that i’ll need to edit articles format them publish them etc in the future i may need to hire an editor but just this this shift in mindset from okay it’s very much employee mindset or all do it yourself is that i do the work i generate an income so the same when your employer you get paid per hour you get paid per day or you get a monthly salary or annual salary and it’s like okay i do the work and i get paid and so i’m now through just two investments thirty dollars each i’m now starting to move out of the do it all yourself mindset to say okay i’ve got money i’m going to invest this money into someone to do some work and then i now need to track the return on investment of that money and i become a money manager in a way an investment manager in a way which is very different to just being an employee so the shifting mindset is interesting it’s super cool and i’m really kind of like enjoying this process to be honest i’m still paying off debt i don’t have a lot of money to invest right now i also i want to take this slow i want to build up my skills over time i don’t want to invest all of this money thousands and thousands of dollars when it’s unproven as well so what i’ll do is i’ll get these articles back and publish them and then i’ll track how they do over time if they compare to the articles i write in terms of performance then i’ll have a pretty good idea of when they’ll earn their income back if they don’t perform as well then i might need to adjust maybe take me two to three years to earn that money back and it’s not worth it or maybe i need to get the articles for cheaper or something i don’t know there’s still a really long journey ahead but just these little mine shirt shifts i thought could be really interesting to people out there and maybe in five or ten years i can look back on this and say okay there i can see where things started to change for me because so much of my past i didn’t document the changes that were happening in me and i kind of regret that and my favorite videos on my channel are all these ones where it’s like ah that was a monumental time in history for you where things were changing like i’ve got a video where i realized that financial freedom doesn’t make me happy and so i’ll link up to that one down below but i’m in like a dark room in a garage recording i was financially free and just like what am i gonna do with my life and then the progress towards finding my happiness and stuff it’s just it’s cool to look back on and i hope that you enjoy being a part of this journey if you like it please give this video a thumbs up or leave me a comment and say love this sort of stuff this is kind of for me but it’s also for everyone to join me on the journey and to see these changes and maybe you can learn something from this and make some of those changes yourself or maybe it’s just entertaining to follow me and say okay here’s ryan on his high-flying adventure trying to earn ridiculous amounts of money is he going to make it or is he gonna fall flat on his face and just be you know is he delusional or just naive and optimistic well you know we’ll see what happens and i definitely questioned whether i want to get there or not when while now i’ve pulled that sort of a million dollars per year into my reality as a possibility previously it wasn’t even a possibility i didn’t even think about it now put it into my reality i need to think okay do i actually want to do that what kind of business do i want to build what’s going to make me the most happy because i don’t need more money i’m like i’m doing all right and i’m pretty happy with my life so i don’t need the money and so it’s like okay i need to build a business that is going to optimize my happiness in terms of family time lifestyle growth for me as a person i just love growing and love learning which is what’s so appealing about this is i’ve got to change as a person i’ve got to learn i’ve got to grow to get there that’s the happiness that’s where i’m finding the happiness not in the idea that one day i’ll be rich and be able to own a great house on the water some mention somewhere no my happiness doesn’t lie in that it’s like that’s arbitrary that’s just there to have like something to push towards it’s this growth it’s this change that i find inner fulfillment in as well as helping people along the journey too so it’s a fun journey i’m really enjoying it i’ll continue to share these videos i hope you like them go ahead check out my previous video 100 000 to a million dollars per year where i just kind of i had just had that realization that oh my gosh this is a possibility for me so i’ll link up to that on my one where i achieved financial freedom and wasn’t happy check out one of those two otherwise until next time stay positive [Music] you