Coding Dreams into Reality: A Path to Passive Income — week 1
Sitting at my desk, surrounded by the hum of corporate life, I couldn’t shake the feeling of restlessness.
Maintaining my key figures, putting up with power structures, chasing the next promotion. The endless cycle of meetings and deadlines seemed suffocating. Fixing up some key areas of my life, the satisfaction I felt from climbing the corporate ladder diminished and left a deep-seated desire for something more. The tension between my new desires and my wish to continue providing for my family created within me the determination to set my sights on a new goal: generating income online.
The Goal is not to escape the job — it is about changing the "I have to" into "I want to".
Here are the actionable steps I took week 1 to start my journey into financial independence:
Embracing Change
This decision did not come easily though. Brewing beneath the surface, it took me a while to accept my new values and to allow myself to become less "successful". Targeting a financial sidestep instead of chasing the next pay raise was one of the best decisions I have made over the last year: It reduced my stress levels and freed up space for me and my family. The best decision was of course marrying my wife.
Witnessing friends and colleagues venture into entrepreneurship, I have been inspired by their courage and determination. I want a change to happen for me as well. It’s time to carve my own path, to embark on a journey toward financial freedom.
The Power of “The 12 Week Year”
Inspired by the book “The 12 Week Year” by Brian P. Moran, I decided to put those ideas into action.
"The 12 week year" aims at setting goals within a 12-week timeframe instead of a 12-month one, leading to a sense of urgency and thus more productive outcomes. I decided to put my trust into the knowledge management system "Notion" and bought a template for a 12 week plan. Armed with the right tools I began with a modest target: earning $100 in revenue within the first 12 weeks.
Filling in the template created a roadmap and the necessary commitment to embark on a journey into the realm of passive income.
Navigating the Online Landscape: A lack of Direction
The vast landscape of online income opportunities proved a daunting adversary for starting my journey.
With coaches, Youtubers and influencers telling me daily about their new income ideas, it is hard not to get overwhelmed. Previous attempts, like my stint selling products on Etsy based on designs made with Midjourney, had fallen short. Possibilities seem endless and differentiating between real opportunities and filler material near impossible.
So this time, I decided to leverage my professional background: years spent consulting in big data, data engineering, cloud infrastructure and data science. This should help me find a niche, where I do not have to start at zero, and give me an edge to stand out against the competition. After what felt like a 7-season Netflix marathon about passive income I decided to settle on building data products with a SaaS focus.
Hopefully, finding a concrete SaaS data product to build, will prove easier.
The right Tech Stack for Me
Choosing a tech stack luckily turned out to be a no-brainer for me.
Seeking simplicity in my approach, I opted for a lightweight tech stack. My focus was on product development and refinement, rather than getting bogged down in complex architecture or coding. I want to shift my focus towards a product based mindset. Within this mind shift I discovered the “fireship” YouTube channel which led me to the user-friendly BaaS platform “Firebase” from Google. It offers a streamlined solution for my needs, having drawbacks I can live with.
As I dove into learning Firebase and frontend coding, I took comfort in my proficiency in Python, recognising its potential utility along the way. While I haven not settled on a specific data product yet, I have identified promising contenders through research and exploration.
Having done the ground work, I feel complete set up to start larger coding sessions in the next weeks.
An iterative Approach to Data Products
Not having built any data products yet, I have created a plan to feel my way into this product based mindset.
Breaking down my journey into manageable segments, I devised a plan to release a data product at the end of each four-week period. Beginning with a focus on the technical aspects, I’ll gradually shift towards building validated products and expanding into social media marketing.
Breaking down the 12-week year into three distinct segments, I have developed a strategic plan to learn building data products iteratively.
In the first segment, my focus is on the technical aspects of product development, with the aim of completing a data product regardless of its state. The viability of the product itself is secondary at this stage. In the second segment, I shift my focus to building a validated product that fills a market need.
And in the final segment, I plan to expand into social media marketing, laying the groundwork for the launch of additional products.
Beyond the first 12-week cycle
But what lies beyond this initial phase?
As I prepare to chart the next steps of my journey, I am eager to share my experiences and insights with others. Through platforms like X and LinkedIn, I aim to connect with fellow tech enthusiasts and entrepreneurs, fostering a community of support and collaboration.
The Journey Continues
As I bring this chapter of my journey to a close, I am filled with a sense of excitement for the adventures that lie ahead.
The path to financial independence may be challenging, but it is also filled with endless possibilities. These articles will appear weekly as part of my 12-week plan. If you want to stay updated on a more regular basis, follow me on X and on LinkedIn:
X: https://twitter.com/88Andreasd
LinkedIn: https://www.linkedin.com/in/andreas-ditte-89268b215/
Dear reader, what steps will you take to embrace the possibilities and create the future you desire on your own journey?
