I make $160,000 a month in passive income and work under 5 hours a week: The No. 1 thing I tell people who want to build successful side hustles

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Entrepreneur Graham Cochrane’s businesses bring in $160,000 a month in passive income. He shares the business model that “set him free.”

I make $160,000 a month in passive income and work under 5 hours a week: The No. 1 thing I tell people who want to build successful side hustlesBack in 2009, like so many during the Great Recession, I got laid off. I had been working 9-to-5 as an audio engineer, and working as a freelance music producer for indie bands on the sidegrowing my side hustleI've learned a lot about what it takes to create a highly profitable business.

I put all my effort into getting clients and selling my services to them. I spent all my time calling, emailing, and DM'ing musicians, artists, and bands to see if they needed help producing their next album. I was working working 32 hours a week on it and making only $2,000 a month. As I freelanced, I regularly created content online around the topic of audio engineering. And as my audience grew, I began to find strategic ways to. Within a few months it became clear that if I focused on automation, rather than hustling, I could make more money and have more time.This includes YouTube videos, blog posts/articles, and podcasts. I don't count social media because it's not evergreen, meaning it doesn't stay visible forever.

Source: News Formal (newsformal.com)

 

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