In Michelle Schroeder Gardner’s own words,

In 2011, I started a personal finance blog, Making Sense of Cents, to track my journey to becoming debt-free — and it took off fast.

Within a few years, I was earning enough to quit my 9-to-5 job to focus on my business, and I had paid off $40,000 in student debt.

Today, I live on a sailboat with my husband and daughter. I work just two hours a day and get to spend the rest of my time traveling the world.

When I first started, I poured hours of work into the blog. But over the years, I’ve worked towards making my business as passive as possible. Last year, it generated about $40,000 a month in passive income.

1. Batch your tasks and automate them.

I’m always thinking ahead. With task-batching, I group similar tasks together and complete them all at once. This helps me avoid multitasking, which can be distracting.

For example, I write several articles for my blog in one day, so that I can have five months’ worth of content waiting to be published. Then I don’t have to worry about not having enough to post.

Automation helps, too, like scheduling newsletters and social media posts to go out for the rest of the week. And I only check and respond to emails once a day.

2. Start a newsletter.

I have a newsletter hosted on ConvertKit for Making Sense of Cents with over 130,000 email subscribers, and it grows on its own thanks to placements for it on my blog and social media accounts.

The newsletter is designed to send readers to different blog posts (depending on their interests) that generate ad revenue, my online courses, the affiliate products that I promote — all on its own.

And since readers get consistent newsletters, I don’t receive so many questions from them.

3. Get comfortable with delegating.

Instead of trying to learn how to do everything myself, I hire freelancers for things that I’m not an expert in, like graphic design and video editing for my online courses.

Delegating is important, too. I have a part-time editor for my blog and a virtual assistant to help with minor things like responding to customer emails.

The key is to hire people you’ve thoroughly vetted, or those that you already know and trust. My virtual assistant is my sister and my editor is my sister-in-law.

4. Diversify your income streams in the beginning.

You don’t want to become dependent on just one new income stream, because if it goes south, you might have to return to a 9-to-5 lifestyle to make up the shortfall.

Instead, when you start your business, spend time thinking about what passive income streams may fit you best, and build out at least two. I make passive income from three sources: affiliate marketing, banner ads and online courses.

Some revenue sources are more passive than others. Do your research. Plan your streams around how much time per month each will require from you. Then you can start creating your dream workweek.

By Muhammad Saeed

I am Muhammad Saeed, an automotive enthusiast with a specialized focus on Toyota vehicles. With a genuine passion for the automotive industry, Muhammad brings a wealth of experience and expertise to our website. As an authority in the world of Toyota vehicles, Muhammad Saeed combines a deep understanding of automotive mechanics with a hands-on approach to deliver content that aligns with the highest standards of Experience, Expertise, Authoritativeness, and Trustworthiness (EEAT). Muhammad's journey in the automotive field has equipped him with insights into the intricacies of Toyota vehicles, making him a reliable source for enthusiasts and car owners alike. His commitment to staying abreast of the latest trends and technologies ensures that the content provided is not only accurate but also reflects the cutting edge of the automotive world. Explore our automotive content with confidence, knowing that Muhammad Saeed's dedication to EEAT principles ensures the reliability and trustworthiness of the information you receive. Muhammad is excited to share his wealth of knowledge and contribute to your understanding of Toyota vehicles and the automotive industry as a whole.