Success Triggers by Ramit Sethi – Failure

Something I’ve failed at multiple times is making a significant amount of passive income per month (at least $1000/month). It’s important to me still because I want to have enough to cover basic expenses without having to worry about trading in my time for money. I want to choose what I do each day rather than be forced to do something just to pay the bills. I know $1000/month isn’t a lot, but it’s a start for me, and learning how to get that first $1000 (or even first $100) can help me figure out how to grow it even more.

I could set a growth trajectory and set my first milestone as being $50/month. I can increase it a bit once I hit that milestone. I can also hire people to help me reach this milestone by for example outsourcing my production for songs I release or ask for help in building an online course that sells. I don’t have to do this all on my own. Maybe I can use a combination of the two, growth trajectory and asking for help.

A past failure is trying to make $100/month through my blog. I haven’t ever reached the $100 payout milestone even after all these years. Something positive was that I looked into other ways to make passive income too, and one that seemed promising was making music. It seemed to payout faster than blogging has ever for me. I know it’s still possible to make money blogging, but it seemed like if I wanted to do it myself, I could make passive income easier through music than blogging.

Another past failure of mine is not being fluent in French (not even at an intermediate level), even after 4 1/2 years of learning the language. It led to me deciding to be fluent in a foreign language in college, and a few Korean courses and living in Korea for a year later, I became fluent at an intermediate level in Korean. I achieved my goal of being bilingual.

For making passive income, I will definitely focus on a growth trajectory. My first milestone will be $50/month by the end of this year. It’s such a small goal, but the reason I’m setting it that far ahead is because I want to make passive income with music, and it might take me that long to produce a song (or a few) that will reach that amount without going viral. Plus, it takes a couple months before you receive any royalties from music streaming or downloads. After I hit that milestone, I’ll set it to $100/month and set the target date based on when I achieve my goal of reaching $50/month.