The Passive Income Personal Trainer Podcast

The PIPT Podcast – Weekly Business Update 3rd June 2016

The PIPT Podcast – Weekly Business Update 27th May 2016

Weekly Business Update – 20th May 2016

Weekly Business Update 13th May 2016

Weekly Business Update 6th May 2016

April 2016 Business Update

By Chris Bridger In today's blog post i explain my thoughts on one of the biggest hurdles and road blocks young online entrepreneurs face when chasing passive income online and wealth Listen up here it is..... THERE ARE NO SHORT CUTS. My biggest problem when starting out in business was jumping from idea to idea and opurtunity to opurtunity, never really stick with something long enough to get traction and get results. The problem? To many ideas and many offers to do it the easy way or the short way. Let me explain. Business success is all about what you don't do rather than what you do. There are a million ways to make a million dollars and then there arent that many ways. The question is... what do the succesfull people do well and how do they do it? Well, they do one thing well.... and stick with it... untill it works! They dont jump in, and out of different ventures.... they pick one and make it work! Imagine this right, There is a field and you go out and you dig a hole (new idea), you dig down a bit looking for gold, digg for a minute then move on, and start a new hole. Find nothing and keep moving along. Untill you stop and look out over the field and there are 100's of holes, not very deep. just only at the surface level and you never hi gold. The moral to the story is you need to find an oppurtunity or start a business inline with your goals and stick with it untill it works. Because if you are not passionate and excited about what you are doing, you will never endure the tough times where thing dont work, and you feel like quiting. and it has to be inline with your goals and mission. in other words what you want to do and why you are going to do it. The saying goes. If it were easy... everybody would do it. This so ture. Getting a business that serves as a vehicle to live the lifestyle you want is the best way to go. And for me the internet is the best way forward 100% Passive income.  True passive income definition being. Passive = you dont have to be there or do anything or take any action. Income = Cash in your bank account. For me true passive income and in particular business passive income come from doing the work once, creating a system to generate leads, automate a follow up sequence and then be able to deliver a product all with out you having to be there or deliver anything. The Dream. So getting back to the tittle of this blog post. when we divert our attention away from our goals, and the vehicle we are going to use to acheive them we need to think about what is the best possible way for me. The internet may not be the awnser.

I have been on my entrepreneurial journey now for 2-3 years and I can say that the biggest mistake I have made was quitting my day job. Sounds like a dream come true right? To quit your day job and spend all your time at the beach or just doing whatever you wanted. Here's what I discovered though, quitting my day job too soon actually sent me backwards financially and here's the how and the why. I got swept up in the idea of having a passive income. The ability to earn and income that is equal or greater than your expense's. because when you do this you don't have to work for money it just comes in on autopilot. Now you may think this is a great situation, and it is... IF you take full advantage of it. I did not do this. Instead I sat back and wasted my time. Time I could have used to start building another Income stream to further support the lifestyle I am chasing. And of course the shit hit the fan so to speak and the one income stream I created evaporated over night because it relied heavily on Facebook advertising. And as my business was running on facebook ads the cashflow  was generating dried up. How does this relate to quitting my day job too soon?, well if i was still doing my day job I would have still had cash coming in that was fairly secure and predictable, although not a huge amount. But still it is enough to pay the bills and stay afloat. Rather than not having any cash flow at all. This is a trap most of us fall into, on the path to creating a passive income. The comfort trap. There is nothing more dangerous than being comfortable in your online business. Around every corner there could be the next pending disaster and your business could be hit And potentially wiped out in a single blow. Exactly what happened to me. And this had lead me to create the rule of #3 What it means is. You should always have multiple sources of the same thing. In particular lead generation or generating leads. My down fall was one one traffic source and that was Facebook. It was ppc and it was the life blood of my business. Without it is was screwed. And that is s exactly what happened. The extent of the damage could have been lessened by having another source of income ie a job. Like everything there are ups and downs and instability. If your business model cannot endure the storms that is a problem. I went from having 3 streams of income which were one to one personal training, Internet marketing consulting face to face, my online business and a bootcamp, so technically 4 sources. I quit the gym (my job) prematurely and of course murphys law kicked in. about 4 weeks later i lost my advertising account on facebook. see ya later income. At around the same time the consulting finished and the boot camp went once i left the gym. I had to scramble. it wasnt to long beofre i was back up and running only to be shut down again, and the business model i had at the time was really in tatters. And this forced me to go back and get a job. It was a tough pill to swallow. Having tasted the freedom that comes from having a business that can support you. But it is also a great lesson to learn when the stakes are low. The reality of the situation was a) i had a average business model b) only one source of leads c) no real plan to make it sustainable Hence my point, don't quit your day job until you are confident your business can stand on its own and support you through the challenges. Which will pop up and will always be there. its how we react and what plans we have in play to bounce back.

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Its that time of year where we all like to look back on the year that was and reflect on the good and the not so good. For me it was a fairly up and down year, My business model had to change and i changed jobs several times to try and make ends meet. I guess the two main challenges we have on the road to financial success are time and knowledge. And maybe a third which is money. The concept of micro leverage, whether or not that is a term I'm not sure. For me is the concept of taking and using leverage in all areas of your life to cut a path to success. What im trying to say here is little habits added up over time and can create leverage, say enough money saved to start or buy a business. Or getting up an hour earlier or giving up some other time to focus on the learning that goes into building a business. Leverage is an important concept for me its getting into a certain position where you can do more with less. Here is an example. When i quit my job as a mechanic around age 25, I had saved enough money to do the course which was about $1500 at the time for the first 6 months of the course the cert 3 part. So i saved the money from my job and when the course became available at the start of 2009 i jumped on board. I also had enough money saved to live for a few months but i ended up getting a part time job stocking shelves at a super market to help cover the cost of living. So the concept of leverage and micro leverage is a big take away from 2015. using everything you have to move you to a different position, and in business know when the best time is to make the leap at different times to grow. Start getting clear on the end result. What is your end result? what outcome do you hope to have. This is another big take away for me. Following on from my other post where i quit my job to soon. One of the main challenges i did not consider was my next move. I always though just taking action and figuring it out was a good entrepenural stratergy. Blindly taking action is stupid. And down right dangerous to your livielhood. Action taking is important but we still need to question everything and take time to consider all options. I like to reifine the whole notion of taking action and reframe it to making descions. Action just means to do something desicion making is slower more though out and often leads to a better outcome rather than action taking alone. The business model you have is critical to your success. Having a robust and proven business model is key. All successful businesses i have worked in as an employee will give you some clues to this, what i found myself doing was asking myself how does this business make money. I would think about how do they get people to give them money. And look at all the examples around me from brick and mortar and online businesses on how they did this. This is the method i learnt on how to look at business as a system Leads. How do they attract or reach potential customers Conversion rate. How do they convert those leads into customers  and how many do they get? Number of transactions? How many times or thing did that customer buy say over the course of a year? Average $$ Sale. What was the average amount each sale made? The business you start out in will be different to the one that ends up working. My business has changed dramatically, since the beginning how ever the same sort of core products and service havent changed, the way i market and what you learn about your market also changes. Knowing your market and changing as you understand and learn more is also key. Something i still find i need to do. Getting out from behind the computer. The laptop lifestyle is a tantalizing idea, however i for see a trend back to more human interaction particularly online. Nothing beats face to face for selling or developing a connection and a realtionship. This blog is a great tool to introduce myself to peop...

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The PIPT Podcast Episode 001 – Welcome