Graham Cochrane is the founder of The Recording Revolution, a 7-figure online music business and author of the book “How To Get Paid For What You Know”.
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Guest Resource
Passive Income Workshop – Discover Graham’s passive income system and start earning $1000/mo with just 30 minutes a day!
3 Value Bombs
1) If you haven’t started a business, you have a business hidden inside of you.
2) None of us are truly experts. We’re all just normal people who grew up in the dark and are figuring things out.
3) It takes more creativity and diligence to stop doing all the things every day. Evaluate what it is in your business that leads to consistent sales and revenue, and do only those things.
Sponsors
HubSpot: Learn how to grow better by connecting your people, your customers, and your business at HubSpot.com!
Coda.io: The doc that brings it all together! Get your team all working together on the same page for free at Coda.io/fire!
ZipRecruiter: Find the right employees for your workplace with ZipRecruiter, the #1 rated hiring site in the US, based on G2 ratings! Try it for free at ZipRecruiter.com/fire!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Why Now is the Time to Redesign Your Work and Life (And How To Do It).
[1:16] – Graham shares something that he believes about becoming successful that most people disagree with.
- The key to growing a richer business and life is to work less.
[3:50] – What’s not working when it comes to people’s relationship to both work and life?
- There are 2 groups of people. There are employees who are rethinking their life path, jobs, and want a career path that leads to more life, flexibility, and freedom. And there are entrepreneurs who have a successful business they’ve become a slave to.
[5:19] – Creating time freedom in work and life.
- You need some element of passive income. You need scalable income that’s not tied to how many hours you work.
- If you’re a consultant, you can turn your knowledge into a digital product and create recurring revenue.
- The key is to think of 2 main money dials, which are getting more clients, or charging more – but there’s a limit to both
[8:36] – Graham’s message to those who think passive income is a myth.
- People give passive income a bad wrap because they associate it with something slimy, but it’s a real thing. A better term is scaleable income.
- It takes more creativity and diligence to stop doing all the things every day. Evaluate what it is in your business that leads to consistent sales and revenue, and do only those things.
[12:06] – A timeout to thank our sponsors, HubSpot, Coda.io, and ZipRecruiter!
[14:29] – 3 Limiting beliefs.
- First: that we have limited time. Time isn’t really people’s problem, it’s what you’re doing with your time.
- Second: “I’m not an expert. I’m not good enough.” People need to stop comparing themselves to other people.
- Third: “It has to be perfect.” Sometimes they switch the word “perfect” to “optimized.” It doesn’t have to be perfect. It just has to make money.
[20:44] – The 3 most important components to building an online automated system that gives us time freedom.
- You need evergreen, searchable content that will show up in a Google or YouTube search.
- Move people from the content platform to your email list, where you have a pre-written email sequence that welcomes them
- Offer them the third component, which is a digital product. That could be an online course, a membership site where there’s content, coaching, and a community, or it could be a group coaching program, an app, or a SaaS product.
[23:04] – Graham’s key takeaway and call to action for Fire Nation!
- If you haven’t started a business, you have a business hidden inside of you.
- None of us are truly experts. We’re all just normal people who grew up in the dark and are figuring things out.
- Passive Income Workshop – Discover Graham’s passive income system and start earning $1000/mo with just 30 minutes a day!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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