My Passive Income resolutions for 2016


A new year is just taking of and I can’t count how many new year’s resolutions I’ve come across over the last few days. People are posting the new year’s resolutions on Facebook, on Twitter, they are writing posts about it… I kind of listed my resolutions for the year (meaning the next 12 months) back in mid-April, however seeing all these new year’s resolutions now has gotten me kind of excited about setting new goals for myself too.

People often say about me I’m a very confident person, that I always know what I want and what needs to be done in order to get there. Many times I get asked how I manage to be so confident, especially when the person asking is struggling to make a decision.

Well it is true I am a confident person, but people probably don’t see the full picture when they look at me or come to me for that sort of advice.

Here is how I see it. I love to make plans and set goals, it’s what keeps me going on a daily basis, what keeps me excited about waking up and doing stuff. I’m lucky enough to be in a position where I don’t have to worry about getting by any more (although I always try to remind myself to never take what I have for granted), so if I didn’t have my goals and plans to fuel me, why would I even bother doing anything?

Now back to the confidence part. I always seem confident in what I’m doing, and I am. At any given time I am 100% confident what I’m doing is what I need to be doing and that what I think I should do next is exactly what I should be doing next. I don’t hesitate to make decisions because I honestly believe there isn’t much of a decision to make to begin with, I need to do what I need to do and I go ahead and do it.

Now that doesn’t mean I can’t change my mind in just the split of a second if presented with the right arguments. If someone makes me see I should be doing something different to achieve my goals, or even that I should have different goals, I can change my priorities and be as confident about my new goals as I was about the old ones just a couple hours ago.

I’m not saying this is a good way of doing things or a bad one, it’s just the way I’m wired. There are pros and cons to acting this way.

The pros seem to be the only thing people see and the reason why the come to me for advice on this matter. I rarely hesitate in making decisions. I can literally make life changing decisions like quitting school (or going back to school), or moving to a new country in just a couple of hours, and once my mind is set on that new goal I just move forward with it without looking back until I find, or someone shows me, a reason why what I’m doing isn’t the best thing I could be doing.

The cons on the other hand is I sometimes find it hard to be consistent and stick to a plan for as long as it needs in order to become a reality. I find that some things just need to time to happen, no matter how much you push for them you won’t be able to make them happen as fast as you’ll like. When you are chasing a goal or following a plan for long enough without seeing the results you’ll like it’s easy to get distracted by something else and get convinced that something else is more worth of your time than what you’ve been doing so far, so you move on to the next thing leaving a half-baked project/product/plan behind which wasn’t necessarily headed in the wrong direction.

So this time I’m making my new year’s resolutions public so that every single one of you can hold me accountable if I ended up getting distracted by other stuff and not paying enough attention to the things that right now I believe have a lot of potential and can make 2016 an even better year than 2015 was for me.

So here are my goals for the next 12 months

  1. Dedicate no more than a third of my time to freelance work – This past year I started doing some freelance work, basically building websites for clients. I didn’t really look for it, the opportunity just presented itself and the truth is the clients I’ve had the chance to work with are pretty amazing, and they pay well, which makes it hard some times to say no when a new project comes knocking at your door. I do plan to keep on taking clients on 2016, but I would like to keep this under a third of my time so that I can really focus on my Passive Income Portfolio.
  2. Publish my first e-book – This is something I’ve been working on for a while. The content of the book itself it’s pretty much done, only a couple of chapters left. But I know writing the content is probably only going to be 50% of the work. Then layouts will come, and designing a cover, and figuring out the best sell price, learn what I need to do in order to sell it on Amazon… It would be very typical of me to have a finished book sitting on my computer for years without never actually publishing, and I would like to make sure that doesn’t happen this time.
  3. Keep improving and expanding my WordPress plugins portfolio – In 2015 I started building a couple WordPress plugins and put them up for sale on CodeCanyon. The plugins had a few sales during the first couple of months and I still see a sale here and there. I still think this revenue stream has a lot of potential and I would like to keep pushing it further this year. I have a couple of ideas for new plugins and also things I want to try in order to promote the old ones.
  4. Establish 3 solid niche sites – Lately I have been really immerse into building niche sites. I’ve already built a few, and although most of them aren’t good for different reasons I’m still very excited about this business model. During this year I will keep learning about the niche site world and by the end of the year I would like to have 3 niche sites generating at least $200/month each.
  5. Shoot a consistent collection of stock photos – Back in April one of my goals was to explore the stock photography world. I have already been playing around with it a bit and I’ve gotten to the point where the majority of the photos I upload are accepted, which is a great step forward. However, I still haven’t made any sales and I believe that is because although technically my images are good, they lack concept. My images are all over the place, a flower here, a staircase there… I know if I want to sell I can just take pictures when I see them, I need to plan in advance what kind of photos I want to take, find the place where I need to go to take them and be able to produce a consistent collection of 10-20 photos around the same topic and with the same style.

Like I said, as of today I am 100% confident this is what I need to do this year and I’m also confident I’ll be able to cross every single goal off my list. Only time will tell!

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