Hey there my friend, long time no see… I know shame on me. It really has been too long since I posted something on Tropical U.P but that didn’t mean that nothing happened! In this post, I will share you everything new, as well as how this website continued to generate passive income without any direct work!
First off I want to share that I am immensely happy to announce that my YouTube channel has officially crossed the 100K views mark! I am truly grateful for everybody’s support, without you guys it would definitely not have been possible! I am looking forward to the next 100K and up to a million I would say!
What is new for me?
Well, let me first start that a lot of different things happened. Teresa and I have decided to move back to the Netherlands to settle down here. This involved a lot of complexity of getting all the papers in order but has proven so far to be the best thing we did all year.
Remember that in previous posts I talked about several other projects I was involved with? Ultimately I had to postpone some of these entrepreneurial efforts and focus on our direct future instead. While I do feel sorry that I am able to continue on these projects, I feel that it is also important to take care of basic things first.
In an earlier post I mentioned how important it is to first take care of yourself before doing other things, well that is kinda how I see it now. I have no doubt that these or even better projects and opportunities will not come around in the future.
How did this website continue to generate passive income?
Yeah, you read it right, this website has continuously generated passive income over the past months. The money this website generated mostly comes from affiliate links placed on this website and my YouTube channel and they are working for me round the clock.
With the exception of answering a few emails and direct questions, I have not uploaded any new videos or posts since May! Now, don’t understand me wrong because I do feel bad about that, especially since I am always preaching about the importance of consistency. But in my absence, the system that I put in place has proved to be working. That really makes me excited and even better this also resulted in over 500 USD in passive income.
Now I know, this may not sound like a lot and sure it isn’t a lot of money. But it is a lot of money if you realize that I didn’t do anything more than just let the system work for itself. The system worked based on the leads my website and YouTube channel generate, my email marketing campaign and careful selected and placed affiliate links. My physical presence nor my time was required afterward.
I remember that Teresa and I were on a holiday in France and afterward, I checked the results during our absence. Tropical U.P had generated enough money to cover lodging for 1/3 of our holiday! To me, that is just awesome and it shows the true power of passive income. Since the system is in place I can start scaling things up.
What have I learned?
I will be honest with you that my inactivity was not completely without reason, there were a couple of things that I had to handle. I made some judgment errors that proved a valuable lesson and I will not refrain myself from sharing them.
Lesson 1: Most truisms are in fact, believe it or not, true.
Yes, I am serious about this one. I am talking in specific about the truisms that one should not engage in business with family or friends. Sure there are cases where this can work but in general, it just doesn’t.
In general who you decide to partner with is very important, as a well-acquainted notary once told me: “Work partnerships are just if not more important than a marriage, don’t assume that just because you know the other person well you are the best fit together”. When I was given the advice I did not give a lot of weight to it, only to regret this later.
Lesson 2: Don’t set up a company too early
Setting up a company is something that has become increasingly easy to do. Fill out a couple of forms and before you know it you own your corporation. What people often don’t realize is that having a corporation also brings a huge responsibility.
There is a large number of administrative duties that a corporation has, then there is also the associated costs of doing all those things. If you do this before you have verified that your idea works, you have not only given yourself a major responsibility but also a potential liability.
Lesson 3: There is nothing wrong with normal job
I used to be more adverse to the idea of having a normal job. When one of the major projects that I was hoping to generate a sustainable business with failed and Teresa and I were planning to move to Holland, I decided it was time.
To be honest this was one of the best decisions so far! I am working for a very entrepreneurial company where I have access to great resources and knowledge and I get a lot of freedom. This is great as it not only brings in a steady paycheck but it also creates a foundation for everything to come in the future!
So there you have it…
I hope you enjoyed reading this post. If you are looking to set up a similar system like I have I hope that this post inspires you to set up your own passive income stream. The sky is the limit.
As always I am looking forward to your comments and let me know if there is anything in specific you want to have featured next.