Tag Archives: business

How To Escape The 9 – 5 and Start An Online Business

How To Escape The 9 – 5 and Start An Online Business

Hey, thanks for watching this great video on “How To Escape The 9 – 5 and Start An Online Business” by Alex Ikonn. I’ve made a few notes relating to the above video which you’ll find below.

How you can get started


    Identify why you want to build an online business. What inspires you to want to start building an online business. For instance “The Four Hour Work Week” by Tim Ferret is the book that inspired Alex Ikonn in the video above to take action.


    Realise that you may land up working a lot harder than you do now when working on your online business. You should consider the following with regards to creating an online business:

    • Identify how much time and /or money you are willing to spend
    • Think about the life you want to live
    • Identify your vision for yourself and your business
      • Having an online business may not be for you and that’s OK
      • It is important to have purpose
    • You should try to create a balanced lifestyle
    • You need decide what your ideal work life balance consists of
    • You need to work on work that you are truly passionate about
    • Your work may become your lifestyle
    • Realise that in the beginning you may have to work a lot
    • Businesses don’t stop – you will have to maintain and grow your business
    • If you are in a business, it needs to constantly grow and you will always have to work using:
      • systems (automate your business as much as possible);
      • teams (direct hire or outsourcing); and
      • Yourself.
    • You have to provide value to your clients

    How do you start?

    • Follow people who have already done it
    • You will have to figure it out as you go along
    • Jump into it. Don’t wait! You;ve got to take action. Its no use learning about stuff – you’ve got to apply what you learn.
    • Absorb information constantly to get ideas
    • You have to love it
    • It will get harder but it wont seem like work
    • People may not want it but its OK
    • So many people have too much expectation about an online business due to the way it is being pushed by Internet marketers to sell their stuff
    • Your business is your classroom
    • Creating and testing out your theories
    • Being with people who want to do this
    • It all depends what level you want to achieve
    • Your business is a reflection of you
    • Hiring people is like parenting
    • Things will not always go your way
    • Be efficient with your time
    • Design your life to what you want
    • For most people a 9-5 job is not really that bad
    • You wont succeed unless you do the work
    • It is a journey not a destination
    • There is nothing wrong if you are on the other side helping grow a business
    • If you a 9-5 mentality you will not go far online
    • You’ve got to grow and keep growing
    • You’ve got to want more from yourself
    • You’ve got to be more and want more
    • You’ve got to raise yourself
    • You’ve got to create – help others to excel and rise to a different level
    • Your commitment and responsibility starts with you
      • You’ve got to make a commitment to succeed
      • You and only you are responsible for your success (or failure)

How to get a passive income without working (like a moron)

How to get a passive income without working (like a moron)

Caution Strong Language

Hey, thanks for watching this great video on “How to get a passive income without working (like a moron)” by Alex Becker. I’ve made a few notes relating to the above video which you’ll find below.

Creating a passive income on the Internet

We have all heard about creating a passive income on the internet. Well I’m here to burst that particular bubble. There is no such thing as creating a passive income on the internet. This mind set is caused by so called guru’s in order to sell their product. It is not congruent with reality.

The problem with this mind-set is that you are bringing an employee mind-set into entrepreneurship.

In business you cannot just kickback and relax because things change all the time. For instance if you create a piece of software and are making a “passive” income from selling it, all that is required to take away your “passive” income is for someone else to create another piece of software that replaces what your software does and starts selling his “improved” version at a lower price.

Once you stop working on your business somebody else will take away the income that use to be generated from your business.

When you set out to make a passive income you are setting out not to work. And this is totally the wrong mind-set to have. Thinking this way you are setting out to do the bare minimum work and not challenging yourself.

Your business will be based upon very poor concepts that have no foundations.

You cannot set out to build a business with the goal of not working.

You have to set out to be the best; you have to set out to be great; and you have to set out to make money. When you have this mind-set making money becomes easy.

How to create a passive income

However, if you really want to set up a passive income this is how to do it:

Strategy #1

Make so much money that you cannot ever spend all of it. Set out to do this over the next 5-year period; then kick back and relax.

Strategy #2

Make a goal of making $1,000,000 from your business. Save that money – don’t spend it on crap. And then find someone who can get you a 10% to 15% return on investment every single year. Once you do that you’ll be making $100k to $150k per year of passive income and you will be free to do what you want.