You inspire me. Pre-millionaire log.
Remember how I said my goal was to become a millionaire by 30? I thought it would be fun to kind of document my process a little bit so that I can have a log for myself and also possibly inspire others to the same. You guys inspire me so much. I even created a bulletin board full of your sweet comments to help me stay motivated which sits right here beside me as I type this.
I've been learning a lot about passive income lately, which is basically when you create something to generate the income, and don't really have to do much afterwards. You do all the work ahead of time, put it out there, and people just continue to purchase it. An example would been an eBook or an app. I've had my experience with eBooks and digital downloads before, but wanted to reach a wider range of people so I decided that I was going to try the app business. It really is right up my alley, being that I pretty much do everything but apps. I have a great one designed and am currently working with a developer to get it made. I could have spent months learning how to do the programming myself, but having never worked on an app before, it's a little out of my area of expertise and I figured the safest bet was to hire somebody who knows their stuff so that I am guaranteed a professional product.
I've been reading tons of success stories from people in the app industry who have been so successful and have had no previous experience. I'm talking fifty thousand dollar a month incomes. That is insane. I understand that this isn't the norm, but could it be if you have a really great idea? Absolutely.
The riskiest thing is always the money. Not knowing if it will be worth it to spend a pretty good amount on an idea with the outcome being unclear is super scary. Will this make me some income when it's all said and done? Will I have wasted all of my money? What if I don't take this chance, will I have missed out on a potentially great opportunity? Sometimes you need to take that risk to find out. I decided that I at least needed to try it. If it fails, I will learn from my mistakes. If it succeeds, then I know I'm on the right track and will be able to continue along this path to wishful financial freedom.
What's the biggest risk you've ever taken?