I never was the entrepreneurial type. But after losing my job as an audio engineer in 2009, I had to get creative to make ends meet.
Thirteen years later, at age 39, I’ve built two online businesses that earns me a combined $160,000 a month in passive income. I also recently published a book, “How to Get Paid for What You Know.”
The first business I started was The Recording Revolution, a music and education blog that sells music production courses. The second, which I started in 2018, teaches people how to make money off their passions, like I did. It’s the most lucrative business, thanks to online course and coaching program sales, as well as affiliate commissions.
Graham Cochrane started his first business in 2009. Since then, he’s scaled two online companies and now grosses about $120,000 per month.
Photo: John Olson for CNBC Make It
Around 2,800 people use my products, and my goal is to help more entrepreneurs grow their online businesses while working fewer hours.
My top priorities are spending time with family and being able to give back, so I’ve set up my work and personal life to be able to focus on those key values.
Here’s what my typical day looks like:
Mornings start slow and easy
I usually wake up at 5 a.m. — before the kids — because I always want an hour to myself. I’ll start with coffee and my Bible.
After some reading, praying and journaling, I’ll make breakfast with my wife and wake the kids. We’ll spend 20 to 30 minutes eating together in the kitchen before I drop them off at school by 7:30 a.m.
Then I head back to my home office, or do a quick gym session if I’m in the mood.
Graham and his wife have breakfast with their kids in the morning before talking through their schedule.
Photo: John Olson for CNBC Make It
I work just five hours a week — Mondays and Wednesdays
On Mondays, I plan and create YouTube videos and podcast episodes. Potential customers usually find me through this free online content. If they like it, they can sign up for my newsletter and get emails about free resources and premium online courses.
I make a chunk of passive income from these courses. I’ve designed my business system to automatically send emails, so the bulk of my work is just to maintain a steady flow of new, free content.
Recording videos and podcasts takes about two hours. I also have someone who edits and uploads the content. My remaining hour on Mondays is dedicated to answering emails or giving advice to members of my Six-Figure Coaching Community.
On Wednesdays, I spend time on community interaction, then host a 90-minute live call with my advanced business coaching students.
Graham spend about five hours a week creating content and managing his businesses.
Photo: John Olson for CNBC Make It
Once a month, I film an exclusive training for members of my paid community which adds about two extra hours of work per month to my schedule.
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