‘I work just 5 hours a week’: A 39-year-old who makes $160,000/month in passive income shares his best business advice

It can be difficult to know what to prioritize when starting a business. There are ways to avoid pitfalls.

I want to teach people how to make money. I went from living on food stamps to starting my own businesses.

I run a music and entrepreneurship company today. I work from home five days a week and make $160,000 a month.

In the first 30 days of starting a business, I give my clients a list of things to think about.

A lot of new business owners know how much money they want to make.

That is a great start, but it is not complete. It's important that your business serves your life. Make sure it works for you.

Ask three questions to understand the type of business and life you want.

1. What does a perfect day look like to you? Don’t just think about your typical workday. Consider other life activities you want to fit into your day, like exercising or spending time with family.
2. How many hours do you want to work a week? You don’t have to follow the standard 40-hour workweek. Knowing exactly how many hours you want to work will help you better prioritize tasks.
3. How important is time off? Some people don’t care much about taking time off, as long as they love what they do. Others value extended time off. In order to have money flowing in when you’re not working, you’ll need to have some sort of passive income stream.

People told me I needed to test my sales pages, throw launch parties and record ads in order to grow my business.

I kept it simple and focused on three things: creating weekly content for my website, growing my email list from that audience, and promoting the paid products I created to that list.

Content that is related to your expertise will help you grow an audience. It doesn't need to be flawless. New products can be designed based on what customers want more of.

Do you know what activities will help you make more money? Don't burn yourself out by focusing on unimportant tasks

You want to feel like you have achieved a goal when you inbox zero or change the color of the buttons on your website. They won't make you money.

Ask yourself three questions before you start.

1. What’s the expected outcome for doing this task? 
2. Does it lead to more money?
3. Can I point to a direct link between doing that task and earning income?
4. What’s the cost of doing this instead of something else?