Our guest for today started venturing into online business on a whim about 6 ½ years ago. With no budget on hand, turning to the internet proved to be the perfect way for him to launch his own business. He started writing to tell his story and now is running multiple sites that reel in the money. Jay Money is an online entrepreneur and the ‘mac daddy’ of the personal finance blog, Budgets Are Sexy.
Here are some of the highlights from our conversation
Learning from Coins and Currencies
Jay developed an interest in coins when one caught his eye at a yard sale, and it eventually led him to join a coin club. Fascinated with how an object can lead you to learn so much about history, he developed an appreciation for collector’s coins and started a blog called Coin Thrill.
The (Future) Millionaire’s Club
Jay also started the Million Dollar Club where you can share your to-do list for reaching financial freedom. Every few weeks or so, someone will join in and will share their views, chime in on conversations, and share about the path they are looking at taking in order to become a millionaire. A couple of people actually contacted Jay after their initial interview to announce that they have indeed hit the million-dollar mark! The club is a great motivator for people and the goal-setting aspect is helpful as it gets people started and excited about reaching their goal.
Balancing Money and Family
When Jay first began his online business, it was all about hustling for the money and there was no stopping him. Little did he know that he would soon have a family and that his family was going to change things. It was difficult at first when Jay was learning to balance work and family, but he was able to manage things by working hard, saving money and investing it. Today, the income is steady and Jay does not need to spend as much time working, but instead gets to spend time with his wife and children.
How to be an Online Entrepreneur
There are resources everywhere to teach you about whatever you want to learn, but you will not go far if what you are doing bores you to death. The key is finding out what excites you and learning what you are passionate about. You can do almost anything online but it takes passion, focus and time. You will go far once you get going if you’re willing to keep at it and not give up.
Copyblogger – Online marketing advice
Microblogger – Features articles about starting your own business
Rockstar Finance – Jay’s site that highlights the top personal finance articles
Some of Jay’s Quotes from This Episode
“Find a name that you think is awesome so you will enjoy it even if you hear it a million times.”
“Life changes and our goals change.”
“When people say, ‘It’s this way, or that’s it’, that’s when people start losing that happiness factor.”
“The resources are out there, and there are plenty of books but what it comes down to is being excited and passionate about something and just going out and doing it.”