Don’t Be This Guy #5: “I don’t know anything about computers.”
While some people know they’d love the benefits of having their own source of independent income from an online business, they feel like they don’t know enough about how it all works.
They can surf around and use some apps on their smart phone, but the idea of creating a website from scratch or creating video courses, or some other tactic just seems like a bridge too far. Too much to know, too unfamiliar to be tackled.
I get that.
In fact, that’s pretty much where I was in 1996. This stuff is basically new to everyone in the world. Particularly anyone past their twenties.
Eye On the Prize
The thing to keep in mind is how worth it it is to get beyond the initial hesitancy caused by an unfamiliar obstacle.
You’re building a major financial asset here.
Permit me to use a little math. Suppose you build an online business that can reliably provide you with $5,000 every month. That’s $60K per year.
In today’s miserable, almost-zero interest paid on savings you’d need to have a nest egg of $2-million collecting 3% annual interest in order to enjoy the same amount to spend every month. Or you’d need $1-million invested at 6% interest.
In other words, a modestly successful online business is worth a small fortune to you and your family. And it’s an income and retirement plan that you completely control.
And unlike the 7-figure nest egg, with an online business you could make some smart moves and double your cashflow in a year.
And instead of having a massive investment at risk, with an online business you risk a relative pittance because it costs so little to build.
All The Answers Are Readily Available
The truth is 99% of the online businesses that regular people like us create use basic, off-the-shelf solutions for every element of the business. (The exceptions are the guys inventing completely new hardware, software, or other very technical venture-capital-funded innovations.)
And no matter what you need help with, there are thousands of people lined up whose business it is to help you. All on an ad hoc basis where you pay them a few bucks and they take care of your problem. Boom. Done.
Think of it like this. Suppose you’re concerned about your retirement, realize you’re going to need years of additional income so you decide to invest in income properties. You buy a couple of rental properties and use the positive cashflow to supplement your retirement.
Many people would be comfortable with that plan. But what do you say to the guy who says, “I don’t know anything about building a house, or wiring it, or fixing broken plumbing, or a roof – or anything else. I don’t know how to do a credit check on a potential tenant. I have no clue how to build and operate income properties.”
You’d tell him he doesn’t need to know all those things. There are many people happy to do that stuff on an as-needed basis. Most people who operate rental properties don't know all those professional trades.
An online business is very similar. You use third parties to keep your email system running, to make sure your website actually works, and clever, talented people to design your site, business logo, etc.
And you have 100% control over all of it.
And unlike buying a rental property, most online businesses can be built for relative peanuts. A really nice website will very likely cost less than $1,000 to create and perhaps $50/month to keep it running.
And did I mention that it can grow into your largest financial asset?
It’s Still Work
I don’t want you to get the impression that this is all push-button simple and you make gobs of money without any effort. That’s never – and I mean never – the case.
Any business has to deliver value to its customers, and that value comes from something. So there will be work for you to do.
But if you make smart choices from the start, and you deliberately engineer the business to be about something you really love doing, that “work” can be very satisfying and rewarding.
I’ve mentioned before how your online business can be something that makes you very happy. But I think there’s a deep human need to do productive work. Laying around doing nothing year after year would be my idea of purgatory.
Don’t let your current, temporary, unfamiliarity with these new technologies be an obstacle to such a glorious, rewarding lifestyle that you own and control.