The Income Autopilot Cheatsheet

In the 4-Hour Work Week an “income autopilot” is extensively described.  Here’s the short and to the point version:

  • Select an income source that’s easily and cheaply tested (< 500$)
  • Automation is possible within 4 weeks
  • No more than 1 day a week management
  • Control distribution
  • Decide on distribution before committing to product
  • Pick and affordably reached niche market
  • Brainstorm products with the following characteristics:
    1. Main benefit in 1 sentence
    2. Price: 50 – 200$
    3. No more than a couple of weeks to produce
    4. Explainable in good online FAQ
  • Create a product option, but don’t commit yet!
  • Think of an information product
  • Micro test your products
  • Test result: Divest or invest
  • MBA – Management By Absence
    1. Remove yourself from the equation
    2. Contact outsourcing companies vs. freelancers
    3. Ensure the outsourcers communicate with each other and solve problems themselves
    4. Offer few options
    5. Fire bad customers
    6. Offer a fantastic guarantee

That’s it.