Think Retirement - it's very possible
I think retirement when I work on my Internet projects. It's a good thought to maintain because it makes perfect sense.
You're building an investment on the web for an income that is largely passive. It's very much a corollary to a traditional pension or the social security program, except that you have control over the investment, its care, and the return that you see from it.
More importantly, you own the investment and are free to steer it in any direction you wish.
To be frank about it, I never counted on a pension from any of the companies I used to work for. I have never counted on getting even one dime out of all the social security payments I've made. Whatever investments I've made so far are in the hands of others, and experience has shown that once people have a big pile of money sitting in front of them, they like to keep it.
Therefore, I only count on myself. The reason is simple - I won't let myself down, but others can and will.
My suggestion is that you orient your thinking in a similar manner when you start to plan your Internet enterprise. More importantly, use this vision of creating retirement for yourself as what motivates you to build a quality and lasting presence on the web. It's up to you to put yourself in a good place.
It has been my plan all along to create multiple revenue streams from the Internet that supplant and surpass anything that the Social Security Administration might suggest is coming my way. That has been my focus from the start, and it keeps me motivated and moving in that direction.
How Long Does it Take?
I've been asked about how long it takes to be successful on the Internet. I don't know for certain, but from what I've seen, you should plan on spending about 5 years of regular effort to build good return on investment. It's a combination of hard work and smart work.
Sure, there are examples of individuals who have hit just the right niche, quickly built a following and started making thousands of dollars a month within the first year. For every one of these types of stories, there are perhaps hundreds of stories of individuals who have gone nowhere fast. Funny how you never hear about those stories.
For me, the key is to know what I'm trying to accomplish and to realize that it takes time and effort to get there with genuine quality content that builds trust and attracts a following. I don't want to create the "pet rock" that comes and goes as a fad. I don't want to create "one basket" for my eggs either.
When I think retirement from Internet revenue sources, it means multiple revenue streams from each site, and multiple sites with different themes. This should give me better protection against seasonal interests and variations in the general economy.
Take the Long View
Another key to my "think retirement" philosophy is a focus on the long view. The only people who get rich quick are those selling get rich quick schemes. I'm happy with building revenue streams methodically and with some level of certainty, and that takes time.
If you believe that 5 years is too long to work on an Internet business, and my "think retirement" approach doesn't have the cost-benefit that you're looking for, you're not alone. Many have doubts about their abilities, and they're challenged by the idea of working in an ever changing environment like the Internet. Nevertheless, I would challenge you to name one other activity that has the potential to provide retirement income by working it steadily for only 5 years.
When you think about it in those terms, you can start to see why I gladly think retirement from start to finish. I may be working my Internet projects for the next 20 years, but I see the "heavy lifting" to be limited to just about 5 years. After that, it should be a matter of simply shepherding my projects a bit, responding to inquiries and making the occasional updates - in between fishing, taking my dog for a walk, and enjoying the sunset over the water.
Get yourself a good idea, a good plan, and work it smart and hard. Stay motivated by continuing to think retirement with multiple passive revenue streams based on solid traffic on the Internet.
Done with Think Retirement, take me back to Internet Business Ideas