so before I get into this video here I
want to ask you guys a question what is
the lowest paying job you ever worked
and what was the pay that you got from
that job and would you ever work for
just 17 cents an hour because I spent
three months working about thirty-five
hours a week for an hourly rate of 17
cents per hour what's going on you guys
I hope you're having a fantastic day and
in this video we're gonna be talking
about the very early days of my youtube
channel when I first started my youtube
channel when I was making very very
little money with it in putting a
thought it would be interesting to
actually sit down and calculate what my
hourly rate was when I was doing this
very early on but before I get into this
video it is a Monday after all and we
are giving away a free lifetime
membership to stock radar my weekly
stock analysis membership site and this
week's winner is Gunn Sarah 52g you and
and Sarah 52 I already sent you an email
saying you were the winner so you want a
lifetime membership to stock radar my
stock analysis membership site and just
so you know next week's winner is going
to be somebody who follows me on
Instagram so if you guys are not
following me over there and you want to
win a lifetime membership to stock radar
make sure you do so that way you are in
the drawing and will announce that
winner same time next week here on a
Monday but what I want to talk about
today in this video is primarily the two
biggest mistakes I see people make when
they are looking to go online and make
money online or make passive income
online first of all it's the fact that
you make pretty much no money or very
little money at all when you first get
started and the second piece of it is a
lot of people try to build multiple
income streams at once and both of these
can be detrimental to your success when
it comes to making money online or
looking to achieve some kind of passive
income so first of all let's start with
the main one that seems to be a
roadblock for people and that is the
small amount of money you are making for
a large amount of effort you are putting
in so when I first started my youtube
channel back in October of 2016 I was
putting about three to five hours of
work into this channel Monday through
Friday and six to eight hours a week on
Saturday and Sunday so that averages out
to be about 34 hours per week of time I
was putting into this YouTube channel so
I put in about 34 hours a week of work
and in the first three months alone that
adds
to four hundred eight hours of work put
into this YouTube channel and the
question you might have is how much
money did I make over those first three
months so I mean I put in four hundred
eight hours let's say I could have
gotten a job at a fast-food place for
ten bucks an hour and maybe I would have
made four thousand eighty dollars in
that time frame
but I decided that I wanted to put my
effort into my youtube channel and
instead I made a little bit over sixty
dollars so the exact amount was actually
69 72 over the course of three months it
was just under 70 dollars actually but
for three months of work for four
hundred eight hours of work I made $70
ish and so that ends up being an hourly
rate of seventeen cents per hour so I
could have gotten the job making ten two
bucks an hour maybe ten or twelve
dollars doing fast food or doing
who-knows-what
but instead I said I'm gonna do this and
I'm gonna make seventeen cents an hour
that right there is one of the main
reasons why a lot of people fail when it
comes to starting a business online
starting a business in general earning
passive income is because it's very very
slow at first and you have to be open to
this idea that it's gonna take a long
time to see any real results I mean it
literally took me six months until I was
making any real income with this YouTube
channel to the point where I was like
okay this is gonna work and the other
thing that you don't realize is that
I've probably tried 10 or 15 other
things in the past that were complete
failures so I would put a couple hundred
if not a couple thousand hours into a
project dedicate a lot of time and
energy to it and it would be a complete
failure so not only is this a lot of
effort being put into an idea it's a lot
of effort you're putting into an idea
that might not even work at the end so
if you're looking to make passive income
if you're looking to make income online
or start a business you have to be
really freaking patient at the end of
the day and understand you might be
completely wrong and you just have to
write it off as a learning experience
but I would say if you're gonna be
looking to make income online if you're
gonna be looking to make passive income
at least dedicate six months to it
before you even begin to question the
validity of it and if it's working give
it 6 months of time and if you're not
making any money learn from that
experience and say ok I'm gonna try
something else and if it's a business
that might even be something like two
years you might have to put two years
into a business before your act
making any money with it and I know a
lot of people are out there running ads
and promoting things and saying oh you
know you can make a thousand dollars a
day online and it you can do this in
three days you know if anybody could
really do that then everyone would be
doing that and so don't be gullible
don't be falling for these ads people
are putting out there saying you're
gonna make some kind of crazy amount of
money every single day after you take a
webinar and build some kind of website
of some kind any real passive income
that's gonna be sustainable for a long
period of time it's gonna take you at
least six months if not a couple of
years to really build and get
established but you have to really be
prepared to work for a wage of somewhere
around maybe fifteen cents an hour or
maybe even five cents an hour or maybe
you're gonna work for zero dollars an
hour because you know you're gonna make
a lot of money down the road or you're
one step closer to the right idea that
is gonna make you a lot of money but you
have to be ready for that and most
people are just not ready because they
want to see the money they want that
instant gratification they want to be
paid and look if you want to be paid
well you can jump on Craigslist you can
jump on some kind of Help Wanted site
and you can probably find a way to earn
active income in one hour from now maybe
you're gonna haul bricks or maybe you're
gonna clean someone's car you know but
if you're looking to make passive income
you're gonna have to be a lot more
patient and you're gonna have to have a
much more long-term vision now the other
way I see people going wrong with this
is by trying to do multiple things at
once so we've all heard the quote before
the average millionaire has seven
different streams of income but do you
think the average millionaire built all
seven of them at once so let's say for
example the millionaire was working for
seven hours a day or now let's say they
were working for 14 hours a day working
quite a bit of time but let's say they
were building seven streams of income at
once so if you're putting two hours a
day of energy into seven different
things and do you think that's really
going to work out for you or should you
put 14 hours of energy into one thing do
a really good job at it figure out how
to make money with it and then down the
road find out another way to make money
another income stream so one of the main
mistakes people make is by trying to do
too many different things at once
they're trying to start our dropshipping
but they're also going to be looking
into real estate and oh wait a minute
I'm gonna do social media marketing and
oh I'm also gonna start putting out
vending machines and
in this multi-level marketing business
all these things could work if you
dedicate a lot of time and energy into
that one thing so I know the average
millionaire has seven streams of income
you know it's my goal to someday to have
seven ten maybe fifteen streams of
income but I'm not building them all at
once I'm doing them one at a time and
building them slowly and that way it's
gonna be sustainable if you try to do
too many things at once you're gonna be
too distracted and it would be kind of
like trying to read seven books at once
if you picked up a book and you read a
chapter and then you picked up another
book and you write a chapter and then
you went all the way through that line
of seven books then you went back to the
first one to read chapter two is that
gonna be the best way to consume that
information I would say absolutely not
by the time you're reading through that
seventh book you probably forgot what
you even read in that first book and so
finish that one book and then move on to
the next one finish one stream of income
get it built up get it to the point
where you have someone managing it for
you or it's a purely passive income
stream and then figure out how to make a
second income stream and then figure out
how to make a third and maybe it's gonna
take you five or ten years to build up
seven streams of income but it's a lot
better than trying to build seven of
them in one year and just burning out
and not dedicating enough time to each
one of these things but anyways guys
that's gonna wrap up this video here
that is my story of how I made 17 cents
an hour for three months of time and
just some general guidelines for you
guys as far as looking to build passive
income or build an online business you
need to be super patient and you also
don't want to try to do too many things
at once but I thank you guys so much for
watching this video don't forget to
follow me on Instagram if you guys want
to enter my weekly giveaway for stock
radar and if you guys are new to this
channel make sure you subscribe and hit
that Bell for notifications and drop me
a comment down below with the lowest
hourly wage you have ever worked for and
if it was for your own business
did you beat 17 cents an hour were you
doing it for zero dollars an hour or two
cents an hour let me know in the comment
section below but thank you guys so much
for watching and I will see you in the
next video if you are interested in
learning more about investing in the
stock market I've created a free course
just for you the link is in the
description below here are a few other
videos you might enjoy as well
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