- A 28-year-old man identified as Josh Ellwood says he worked as an engineer in an oil firm where he worked longer hours than usual.
- He said he tried so many businesses till he identified 7 streams of income that now earn him an average of 124 million dollars a year.
- Ellwood said he resigned from his job to focus on his side hustle that earns more per year.
Josh Ellwood finished his undergraduate studies at the university in 2017 and got a job with an oil firm at the age of 23 earning about $98,000 per annum.
He first saw it as his dream job but after seeing his senior colleagues work close to 60 hours a week and occasionally traveling he decide that this is not the job for him. Losing his father at the tender age of three taught him to value family over everything.
How it all Started
in the year 2018, Josh started trying out many side hustles. He set the goal of earning not less than $3,500 from his side hustle every month to fund the kind of lifestyle that he wants. He quit his full-time job to focus on business when he made that amount of money in a month.
He stated that he has achieved his goal of being his own boss and has since left his job in February 2021 to focus on his business as his full-time job.
In 2021 alone he made about $189k from his seven streams of income alone.
According to Josh, he works about 22 hours a week. He takes Thursday, Friday, and weekends as his days off and focuses on his family. He is happy that his business gives him the time to focus more on his family.
He explained how he was able to turn his side hustles into full-time jobs while working fewer hours per week.
Don’t be scared of trial and Error.
He has bought rental properties and used the backseats of ubers for placing ads and renting out his motorcycle on turo, an online car-sharing company.
He said none of these businesses was a success until he started to sell products on amazon using the fulfillment by amazon services. It was then that he fully understood what making passive income is.
Build a Community around what you do
In 2020, Josh launched a YouTube he named “Debt to Dollars” and he got 14, 000 subscribers and 871, 000 views posting 2 -3 videos weekly.
He discovered the need to connect more with his subscribers as he grow his audience so he decided to build a real community. Two years ago he began to mentor students on a one-on-one basis for $50 on how to make money selling products on Amazon.
Josh is currently using Patreon, a platorm that provides contnet creators with tools to help them host their coaching services and run a subscription services too.
His income streams include
- YouTube (Google AdSense): $82,349
- Fulfilled by Amazon: $13,886
- Patreon (coaching): $33,114
- Fiverr (product research): $29,014
- Affiliate marketing: $29,496
- Rental property: $1,272
- Taxable dividends: $639
We are in a world where alsmost everybody can carve out a space for themselves and be free financially.
Josh could not stand working for hours in his fomer job at teh oil so he decided to look for better option to make life better for himself and his family.
Mkaing money online is not as easy as it sounds though. So mnay people don’t talk about thier failures before getting to the top. So much work, time and resources have to sank in before you get the desired result in running any online businesses.
One needs to invest in knowledge to learn everything you need to carry you on this journey.
- Tags: Money, Online Business