Originally Posted by JA$ON

Great post, the line above really sticks out for me.

Its VERY easy to find a deal / site / source of income that is doing well and to put TOO MUCH time into it. We did not achieve real success until we started following this formula....

1. Find deals that don't require a lot of time to maintain (they may at first during the setting up phase, but getting income streams that run virtually on auto pilot are the key)

2. Be greedy by NOT being greedy ! If I come across a small deal that has the potential to make, lets say $5,000 a month, but will take 10-20 hours a week of time to maintain. That is not something I can give to a project for that return, BUT I can set it up and hire someone (preferably outsourced, overseas labor) to maintain it for me at a cost of 2,000 a month.

I'd net $3,000 and just need to oversee things with maybe 10-15 min a week of my time. Now I can go repeat the process.....

To often people will put ALL their time into a project because the want 100% of the $ it can generate. How many people here make a decent living, working crazy hours updating and working on projects where the workload could be handed over to someone else? Id say most. Sure, maybe you'd make 1/2 the net....maybe only 1/3, but that formula lets you go spend your time looking for opportunities, doing testing...then when you find a deal that works, you pass it on and get looking for the next one.

I like $, and with the formula above we are able to take advantage of any deal we find that works, regardless of its size. We have a slew of programers and designers that are always working on new projects. Like you mentioned, ALL projects come to an end, but if you always have multiple projects / streams of income in the pipe, you will maintain stability and success. We have projects that take up 5-10 hours of our guys time a week and only make a couple thousand a month for us, and we have larger ones that require 2 guys, 40 hours a week that do much, much bigger numbers.

If you can find an opportunity that can generate even a small amount of $ with some consistency, there is NO reason anyone can't follow this formula and do very well.

Now, being able to spot the opportunities is where the magic is, but I cringe when I hear people say, I have so many things I want to do, I just don't have the time.

Footnote: IMHO if you are not doing well and have cash to play with....stay away from HUGE projects that will take up all your time and money for months and months, hoping for the home run. Those are great if you have cash and can have other people working on them for you, but most deals / projects DONT work out. The key is testing as small as possible to get proof of concept, then scale up using revenues from the projects operations.

wow, even I wouldn't read all that, LOL