Growing up, I loved music and had the goal of becoming a full-time musician. I followed my dream in a practical way – working in a 9 to 5 company as a sound engineer while developing a business as a freelance music producer for independent artists.
But in 2009, at age 26, I lost my job and decided to take up my production activity full time.
We still struggled to make ends meet. I was making $800-1000 a month, while my wife was making $500-1000 a month as a photographer. In addition to our freelance income, we lived off our savings and food stamps. We also became new parents. That’s when the financial pressures really started to kick in.
Later that year, I decided to start a music blog – The Recording Revolution – in desperation to make more money. I thought having an online presence would help me attract more production clients.
It took me a while to learn how to make it a profitable business. But fast forward to 2022, and I’m making more money from my online business than ever as a producer.
The Recording Revolution alone brings in $40,000 a month. I also bring in $120,000 a month in gross sales through my online coaching business, which teaches clients exactly what I did to make The Recording Revolution a success.
At 38, I’ve accomplished something incredible: between my two businesses, I only work five hours a week now, and I can spend the rest of my time with my family.
How I turned my passion into a business
I started the recording revolution as blog and YouTube channel to share what I know about music and attract more customers for my production business.
In the beginning, I was posting three blogs on my website and one YouTube video per week. I’ve shared quick, step-by-step instructions for different recording and editing techniques, along with product reviews and interviews with musicians and producers.
In my first year on YouTube, I saw my daily views go from around 60 views per day to 2,000 per day. As my audience grew, I saw an opportunity to monetize my content.
Initially, I was making $200 to $1,000 a month from video sponsorships and ad revenue. To land those deals, I created a press kit sharing my website traffic and reader demographics, and sent it to brands that made products my audience would love. In my outreach work, I offered them spots in my YouTube videos or banner ad spots on my blog.
But in 2010, I found the key to a more lucrative business: creating and launching my own digital products, like e-books or online courses, that teach people valuable skills I’ve learned all along. of my career.
How I Earn $160,000 A Month In Passive Income
In April 2010, I created and sold my first online course, which taught customers how to use the popular Pro Tools recording software for $45.
I used screen recording software called Screenflow to capture my computer screen and my voice while demonstrating how Pro Tools works.
Before recording, I wrote a basic outline of which parts of the software I wanted to share and in what order, then spent three to four hours recording and editing the content.
People have recommended creating an email list to market my courses. To attract subscribers, I offered a free eBook. I had about 500 subscribers by the time I sold my first online course.
I started winding down my independent production business in 2012. Today, I sell dozens of online courses and members-only online communities through The Recording Revolution. Prices range from $67 to $397.
From October 2018 to September 2019, I made $1 million in sales. And in 2021, after ceasing to produce day-to-day content, The Recording Revolution brought in around $40,000 a month.
My second company, which teaches people how to monetize their knowledge and passions like me, launched in 2018. Over the past six months, I have generated $120,000 per month in passive income through an online course called Automatic Income Academy , my Six-Figure Coaching Community, a high-level professional coaching program called The Epic Mastermind, and affiliate commissions from a company called Kajabi.
Currently, approximately 2,800 business owners are using my coaching products. The goal is to help them build an online business while working fewer hours.
My top tips for aspiring entrepreneurs
Starting my online side business – and then committing to it full-time – changed my life. My initial dream of being a musician was replaced by what I do now: helping people live more lucrative, flexible and meaningful lives.
If you’re a budding entrepreneur, here are my top three tips to help you skyrocket your income:
1. Sell your skills to earn passive income.
When you offer a service, there are two main dials you can use to make more money: getting more customers and increasing your rates. But that can be a problem because there are only a limited number of hours in a day to take on clients, and there’s always a limit to how much you can charge in your area.
The turning point for me was when I had the idea of turning my knowledge of audio mixing and recording into an online course. Selling digital products provided a passive income stream and allowed me to make significantly more money in a day – while spending less time on it – than when I was freelancing.
2. Give people a free sample of what you can offer.
One of my core beliefs is that those who give prosper. My entire business is built around providing the best free educational content, even when I could charge for it. That’s why I have a blog, YouTube channel and podcast.
It sounds counter-intuitive, but here’s why it works: Every piece of valuable content I post to the world acts like a magnet to draw people in, thanks to the power of a Google or YouTube search. It’s a way for people to discover me and trust me.
Then when I sell a premium product, they are ready and willing to pay for it.
3. Build automatic systems.
Working only five hours a week helps me avoid burnout and allows me to spend more time with my family. This would not be possible without the implementation of automatic systems.
For example, almost all of my marketing and follow-up communications with customers are through automated emails.
When people find my content, they have the option to sign up to receive more exclusive content via email. Once we are in contact, I have dozens of pre-written emails that send themselves automatically. These emails offer business information, tips and techniques, but also information about the products they will benefit from the most.
Focusing on email means I don’t spend hours on social media soliciting people in their DMs. I let content and email automation do the heavy lifting for me.
Graham Cochrane is founder of The Recording Revolution, author of “How to get paid for what you know” and is a business coach for more than 2,800 clients worldwide. Follow him on instagram and Twitter.