Recently I posted a survey in the Junto of what members would like to get more from the group. I’m already getting promising results which will help me and the other mods help serve the group better.
On September 9th, 2012, I first learned of how important it is to question end users of whatever it is that you’re making. Since then, I’d like to say that I’ve become pretty proficient at it. After that, it was something that I noticed that many successful courses ask their students to do. It was also something that we implemented during my time as an employee at AMS.
The next day, I wrote about what I learned on the drive home from my uncle’s memorial service. And to this day, I think it was one of the most pivotal days in my development as an entrepreneur.
Yesterday as I was coming home from a memorial service for my great uncle Paul Arnold, (Detailed write up can be found in Oberlin College’s Archives. He was a really cool guy if you’re into fine art.) Here’s an example of his work:
I decided that I’d go ahead and listen to yet another episode of Pat Flynn’s podcast. I knew when I downloaded it, it had to be a rather long drive because it was an around an hour and twenty minutes long. This is MUCH longer than his usual half an hour versions.
Well, the wait and time into the podcast was definitely worth it. I was exposed to another form of passive income – Software as a Service (SaaS).
Why Passive Income?
Passive income, I personally believe, is the goal that many who want to live out their passions should strive for. Otherwise, you get stuck working for each dollar and have to rely on faulty systems when we’re in old age. For many of us who are Generation Xers or younger, I fear that we’re not going to have a great retirement plan that our parents have or had. Nor do we have the loyal companies that will give us great pensions that they had as well. Heck, many of our parents aren’t getting what they were promised 30 years ago!!
So basically, the sooner we start building systems that make money on their own or with little to no help by us, the more comfortable life we’ll live when we’re older AND if we do it while we’re young, the better life we’ll live sooner!
What I Obtained from the SPI Podcast Interview:
I learned that there is more to passive money on the web outside of “expert space”. There is also space for web applications. Now, the great thing is that the guy who Pat interviewed started these web applications with no ideas and usually little investment money. Also, most of the development of these projects were outsourced. The guy’s name is Dane Maxwell.
The way Dane developed each one of his 7 companies in his first 6 years of business were very brilliant. I’ll let you listen to the interview for his process.
But what I most admired about Dane, is that once he proved the system of developing these companies and setting them into automatic, he wanted to teach others to do the same. (That’s why he landed on Pat’s podcast, I’m sure!!) And that’s what he’s doing with the program that he mentions on the podcast.
Adjustments to My Portfolio
I need to get to know Dane better as well as explore the world of online apps. I also need to use the tools that I already have available to figure out his process for myself. While he does have a program that he’s put together to teach others his tips and tricks, I think that stumbling to figure it out will give me more appreciation for it. It really seems that these online apps can be way more profitable than member sites. However, I still plan on continuing with the development of New Inceptions and it’s magazine (yes, there was a digital magazine for NI!) and potentially look into doing a software solution in the future.
So anyhow, thought I’d go ahead and let you all aware of this great podcast episode. You should definitely listen to it if you’ve ever considered ways of making passive income. Especially if you have any technical experience OR think that you’re techie know how is somehow keeping you from creating passive income for yourself.
Since originally posting this post, I ended up signing up for The Foundation. In fact, it wasn’t too long after I had heard this particular interview. Since the course, I’ve been able to use what I’ve learned from it in many ways outside of building a SaaS based company. I’ve also got placed into a huge network of awesome entrepreneurs – some of which have been on the AoL Podcast.
Below, I’d love to hear from you about your use of surveys in figuring out what your tribe or clients want. Have you used them? What kinds of successes have you had with them? Perhaps you tried doing something without proper research beforehand – how’d it turn out?
Also – we’d love to see you in the Junto! If you have any questions about the Foundation – that’d be a great place to ask!