How to make passive income on crafted beer.
Many people are attracted by the idea of having a passive income. For some reason, people who love the idea of a passive income are usually the ones who don’t do much about making it happened. And maybe it’s because a passive income sounds too good to be true. As we all know, if it sounds too good to be true, it probably is not true. However, let me share a story with you. This story is about my own experience of passive income.
It happened in 2011 in Moscow. I was working full-time as a Team Leader of the Key Account Management Team in one of the biggest worldwide logistics companies and was busy enough. As far as I remember, I have always wanted to have my own business and as better I was doing in my career, as more, I was dreaming about something of my own. Back in time, I didn’t know that I was craving freedom – one of my core values. There is no freedom in a corporate world. Again, this is only my opinion. Your opinion can be different, but if you ever asked your boss for permission to leave earlier because you need to pick up your kids from school, you know what I’m talking about. Yes, boss! No, boss! Can I go home earlier, boss, as I’m not feeling well? It’s almost like slavery for me. You are only free on weekends. The rest is not your time! You sold it for a little money, as no matter how much you get paid, your life is priceless!
At that time there was a boom of crafted beer stores in Moscow, well, it started a bit earlier, so I’ve already missed the bus. But! I like crafted beer and loved the idea! I had plenty of enthusiasm, but not much free time, money to invest and experience how to set it up. You’ll learn about me soon (in my next blog posts) is that I’m very easy can get out of my comfort zone. I’ve learnt from my experience, that it is not that scary as it seems to be. So, I went to a grocery store and offered a lady who worked at the counter to set up a tap or two of crafted beer in this store. Would she be interested in this? Of course, her answer was “NO!”. What I was thinking about?! It is not that simple, man! So, I nearly wanted to walk away when a man who was staying nearby turned to me and asked if I can supply equipment and beer and introduced himself: “Roman, I’m the owner of this store and I was thinking about the same idea for a long time. So, can you do it for me?”. For those of you who are overly sceptical and do not believe in the Law of Attraction I will have plenty to say in my further posts regarding this topic, but for those who watched The Secret movie, you know what I’m talking about – it was not a co-accident!
Believe it or not, we had this small conversation with him when I ensured him that I know everything about crafted beer, equipment and suppliers and asked him for a meeting with him and my business partner. My business partner was my best friend Sergey, who had no idea about crafted beer, equipment for it and the fact that he has become my business partner, just now. In few minutes after I walked away from the store I jumped on the phone and explained to Sergey that we are starting our first business venture – a crafted beer network in small grocery stores which will cover all of Moscow very soon.
Of course, it was a little bit exaggerated but I was so excited as never before! If you ever experienced something so exciting that you couldn’t sleep at night, this is it.
The best feeling on Earth is when the entrepreneurial spirit is awakening and empowering you!
Short story long, we met with the guy, we offered him to set up two crafted beer taps, supply with bottles and training for his personal. In few days I’ve learnt more about these things than ever before. I found a supplier for everything and we come to a final stage and there we stuck for a while… The reason we stuck was that we haven’t had a business registered and it was scary to go so far as we didn’t know if it would work or not. Here is another miracle that you wouldn’t believe happened. When we told the store owner about this small fact that we don’t have a business registered, yet and it can take time before we launch everything, he offered us do not to bother to register the business! He said I know this is scary as you may think that you will invest and set everything up and I can just take it from you, and you will lose everything, but… Just do it guys and here is my world, we are 50/50 partners. Once you see it works alright, you can register your business, but before you find out whether it works or not, put it under my business name and don’t waste your time on it.It all made sense, but only you trust the person, right? We knew the guy only for few days. And we decided to do as he suggested! It doesn’t mean that we trusted him, no. What we did, we asked ourselves a question: “what do we lose if he takes our business?”. The answer was – at about a few hundred bucks. And again: “what do we get if he is trustworthy?”
The answer was – we get the business! So, we decided to trust ourselves that we will cope with any consciences whatsoever and we started! In the beginning, it was busy as we still were learning new things. Then it becomes more of a routine: drop off the beer, order empty bottles, swap the kegs, take 50% of cash from sold beer and split it in half. Repeat.
But as more, we did it, as more it becomes less and less hustle. People who worked in the store become familiar with the system and offered me to order beer and bottles by themselves, I handed over all my operational contacts and ended up just taking cash at the end of the month. It was set up and worked as a passive income on a very small scale, few hundreds of dollars a month only, but it was almost passive! Since ever, I knew, that business can be set up and work on autopilot, you just need to choose the right business model.
My business model now is affiliate marketing where I’m an ambassador for a world-known education company that provides enormous value for those who want to learn how to start a business online. They teach you digital marketing skills, tools, methodology, provide you with all in package technology and support of a community of like-minded people. They also mentor you and guide step by step towards your dream business. Even though I wouldn’t call it a passive income, not at all, but it is a system that you can set up online and as more you work on it as more you can automate it. Let’s say, for example, you sell a product online. To make it happened you need to find a product to set up different systems to sell it, like ads etc. But once you’ve done it, it works without your attention, when you sleep, work or playing with your kids. It works 24/7, 365. And this is amazing! That’s why I so much believe in this product, as I’ve experienced the same 10 years ago in a slightly different way and only because it was not that simple as now to set it up online.
If you want to learn more about it, go to my website www.selfgrowthexperts.com and register for a free training series that will explain to you more about online business models. Next time I will tell you about what was holding me back from starting my online business.