The Simple "4 Hour Work Week" Setup System
Key Fundamentals In The 4 Hour Work Week
If you've read the 4HWW then you will be familiar with the fundamentals in what it teaches. The beauty here is that the fundamentals are applicable on a wide spectrum and so it allows you to be creative in inventing systems for passive income.
However, if you have not come across the 4HWW, allow me to fill you in on some of the most basic key fundamentals.
The 4HWW, AKA "passive income" or "financial freedom" can be created if you have the following factors:
- A system you can create up front that you can remove yourself from more and more over time until you reach a stage where you can choose to be as active as you like in the system or completely remove yourself from it and it will still generate you income;
- A system that values time AND money in that you can create an income stream/system to generate wealth AND afford yourself time to do whatever you like including using that time to create another income stream/system;
- A system that can easily be outsourced to other people and function the same if not better than if you did it yourself!
- A system that is "unlimited", in other words the ability to create the same income stream after another without limits. For example, the ability to create unlimited income streams worth $100 each far outweighs creating an income stream that is worth $2,000 that can only be created one-time; and
- A system that allows each new income stream to be "copy and pasted" or require far less time to set up compared to the last.
Inspired by these basic fundamentals, I've spent countless hours trying to come up with the SIMPLEST method that can utilize these fundamentals so that ANYONE can create their own 4HWW system without too much difficulty or time wasting.
The system I created below takes advantage of the 4HWW fundamentals in that:
- After the system is set up and you gain more experience with it, you can begin to dictate the amount of time you put in. Plus the system takes very little time to set up and can run itself without much involvement from you in a short period of time!
- This system generates money for you in the background so that you can use the free time you have however you choose!
- It's so simple that you can outsource no problem and without too much instruction to the cheapest freelancers you can find, making the outsourcing extremely cost effective!
- There is literally no limit to how many income streams you can set up!
- Each new income stream you set up will indeed take far less time to set up than the last until you can literally "copy and paste" everything!
How Do We Do This?
The answer is stupidly simple as the title eludes to - Online Surveys!
However, we are going to do things different than how people normally complete surveys, we are going to build a machine-like system out of this, because this is what makes us passive income. DO REMEMBER - you are not doing surveys like everyone else, you are using this as a platform to create a business system whereby other people are doing the work for you and you are profiting from the passive income in the background. Pre-warning - you will have to do things yourself to begin with but not for the purposes of direct earning, it's for the purposes for research, building the system and orientating yourself with the process.
Why Online Surveys?
Completing online surveys are a great way to make extra money from home. Many people in need for extra cash tend to turn to surveys as they are quick, simple and readily accessible. However, rather than doing them yourself, I have created an automated process for completing surveys that has afforded me a passive income stream that I would like to share with you!
- Create a brand new email account dedicated to receiving surveys. Can be anything, either Hotmail/Outlook, Gmail, Yahoo Mail etc;
- Open a PayPal account if you haven't already got one;
- Sign up to as many online survey sites as possible using your new email, you will find plenty of surveys with a simple Google search. To get you started, here are a list of my favorites.
When choosing the best survey sites to join, you have to remember a few simple points:
- Don't ever pay to register on the site
- Make sure the cash out requirement isn't too high, i.e. you have to hit a high threshold, e.g. $50, or have to wait 1-2 months before you can cash out
- Always withdraw your money asap
- Always keep an eye out for the time it takes to complete the survey vs the amount rewarded. You don't want to keep doing surveys that reward 20 cents yet takes 30 minutes to complete!
Always keep searching Google for more surveys - you can never get enough of them!
Once you have registered with several, you can access some surveys in your account or some will be sent to you through your email.
You will start out taking the surveys yourself as part of the research process and data gathering. You will need to orient yourself with the following:
- Getting used to the general survey process;
- Getting used to the types of questions asked;
- Getting to know the length of time it takes to complete each survey;
- The amount of reward for each survey completed;
- Getting to know the identity you will create
You do not need to use your real details, however those details must be consistent throughout the surveys. You should make a list of made up personal details as you go through the surveys and those details they must be as full as possible. When you have your own list of name, age, marital status, siblings, occupation, hobbies etc, you can then just type them into the surveys quicker without having to think about them, making the process more efficient. Keeping your own list of details will cut down a lot of time for each survey and this will become even more important later on!
The crucial information you are looking to collect is:
- How many surveys can I do per hour? And
- How much can I make per hour?
Surveys come in different lengths and some are worth more than others. Some completed surveys are worth 30 cents and some can be worth $5. I would recommend doing a solid month of completing these surveys yourself in order to get used to how the whole process works.
For the sake of simplicity, after a solid month of me completing surveys, I worked out I can do around 7 to 12 small to medium-length surveys per hour that reward between 30 cents to $1 each and around 2 to 5 longer surveys reward between $2 to $5 each. And because I was building up my list of made up personal details at the time, I was able to refer to them and I became quicker and quicker at completing them each time! Your speed and efficiency in completing surveys now becomes your standard, which is important in the next stage.
Now we come to the stage of building the machine-like system. It's time to outsource everything you done previously.
I would go on Fiverr, Upwork or any other freelance websites and look for PA's or VA's that charge the lowest, you can usually find most that charge between $2 to $4 an hour. You should hire one to start off with and provide them with your full list of personal details and instruct them to answer the survey based on the details. Then you want to put them on a trial run, say a week to see how many surveys and much money they average per hour. The idea is that during this trial run, to see whether they can work up to or even beat your standard, if so great! Or at the very least earn more than he is charging per hour!
I will be happy as long as they are earning more than their hourly rate. At least in the beginning, I will be satisfied if a $4 an hour PA makes me $5 per hour. That $1 profit is $1 earned in passive income! If one PA can make you $1 profit per hour in passive income, there is no reason why you cannot suddenly hire two and now make $2 per hour in passive income! 3 PA's = $3 per hour, and pretty soon there's no reason why you cannot have 40 PA's making $40 per hour! They can work as long as you like, if not hire more to do different shifts, so eventually you will be able to reach a stage whether the system can run at 24 hours including while you sleep! The beauty is that there are unlimited surveys to access!
You can grow this machine in so many ways:
- hire more PA's
- hire than to work longer
- hire PA's for different shifts so there's always PA's working around the clock
- applying for and accessing more survey sites - there literally millions out there!
I currently have around 100 PA's working for me day and night and I'm making anywhere around $4 to $7 from each PA per hour - that's over $500 an hour!
As long as you are able to keep paying the PA's and provide them with more work, the more happy they to do a better job for you everytime!
Once I've had roughly 20+ PA's working for me, I began to appoint a project manager. You can choose to promote one of your longest and most reliable PA's as PM or hire someone fresh. You don't need to pay your PM any more than $10 per hour as the responsibilities are not difficult. I've even been able to have a PM for $5 an hour! The importance of the PM is that he/she is running the system and doing the job for you so that you can completely remove yourself!
Once I've hired a PM, I've let things run completely in the background without touching it and every month when I check my bank and PayPal account, I see my balance increase!
Are You Now Ready To Build MULTIPLE Income Streams?
The most successful entrepreneurs establish multiple income streams in order to build wealth and financial freedom.
I'd like to share with you one of MY GOLDEN RULES as well as other smart passive income generating strategies created by our friends to help ensure that you achieve your financial freedom!