In order to maintain my Target Monthly Income, I only need to sell 5 ebooks a day.
That's not a part time income - 5 ebooks is all it takes for me to live what I feel is my current dream lifestyle.
Firstly, let me say I am natually a very frugal person and secondly that TMI is what I need to live comfortably in my next destination, Thailand. Obviously Thailand is a very cheap place to live. I would have to triple that figure to live the same lifestyle in Australia or the U.K.
Know Your TMI
I've done the calculations, reserved my housing and locked in the price I will pay and know how much I will need to spend on food, utilities etc. It was this calculation which formed my Target Monthly Income.
But seriously, Just 5?
Yes, just 5 a day. Do the calculations. When you break down your TMI into a Target Daily Income, things suddenly become a lot clearer. The first time I did this, it was amazing. My eyes were opened and suddenly everything became clearer. I now had such a managable target that I can hustle towards each day.
Break it Down
This is my best advice - if only ever read one post on this blog, let it be this one.
If you don't know exactly how much money you need to make each day, and are planning to live the lifestyle of your dreams - you're a fool. There I said it. And I only say it because I was once a fool as well.
If you set yourself a daily target (or even weekly) you can't hide behind an excuse of ignorance. Are you just building a blog and hoping that money will someday appear?
Selling 5 ebooks a day sounds easy, but I honestly don't believe that I can realisticly keep this up in the long run. Therefore, don't just count on the one income source. But just like I broke down selling ebooks, do the same with other income sources.
Its a Challenge
Its so much easier to be ignorant and ignore the reality of actually having to make an income. You could follow the advice that so many bloggers give - build an audience first monetize later. Or you could open your eyes and actually face the harsh reality of what it takes to be an entrepreneur.
Seriously, open your eyes! (oh and leave a comment ;) )