So yes inertia set in and has stalled my progress (mindset, fears, unexpected circumstances).
I transferred funds but realized I’d performed the transfer in reverse so had to correct but missed my initial target date of ~8/4. In any event the funds will be available, actually are available today. Which brings me to the second block.
In walking thru the process to purchase the incorporation service, I discovered that the service itself recommends that the ‘address’ of the business not be your home address since this will be publicly available information. This was a strong recommendation and one that confused me as I thought the registered agent served as the business address. Nevertheless, that’s not correct so I will need to purchase a post office address at UPS (added cost) to ensure that the physical address is not collocated with the home address. This adds a few days to my official incorporation.
The other inertial delays just involved getting down to work. I re-listened to one of the early podcasts and discovered that the first recommendation is to begin writing articles for pay. I got a little worried ‘cause the 2010 recommendation was for InfoBarrel, but lo and below they are or still appear to be viable and going strong. When I searched for my niche category I did not see the topic posted so I may stick a couple articles out there just to see what’s what. I think walking thru that activity will get me back on track mentally. And once incorporated I can order the webhosting service and begin work on the first website in earnest, which will lead me to understanding adword / keywords for ranking on Google and establishing affiliate relationships.
Some other ideas that came to for in re-listening to Pat were IPhone apps, well not necessarily iPhone apps but app development in general. I have a few ideas and once I get some income coming in will pursue those as that is truly passive income, once the app is developed. So the ideas are coming I just need to begin buckling down and putting as much ‘work time’ at home (breaking thru the mindset inertia) into this as I’m putting ‘listening time’ at work and in the car.
I expect to attempt to monetize things first with the Prosper account as it will likely be the quickest means to invest and start getting invested funds that earn funds passively. Not a lot but something to get the ball rolling and I know how to do it. If there is enough discretionary funding I’ll setup the Options trading account (wonder if they have an affiliate)…I have a skeleton of an idea for a website, but need to validate the other offerings though. Again I know how to trade derivatives so that may be another source of activity to get the income train moving. I would like to purchase tax debt in December but we’ll see how the funds hold up.
The last point is that the real hold up has been my hesitation of starting ahead of the incorporation since whatever assets I have generated would need to be transferred to the corporation and I’m not sure what that process will look like. I’ll check that tomorrow. May transfer the remaining personal Prosper account in its entirety. Anyway onward…
Leave a Reply