New money making experiment

I’ve been reading a lot lately about developing multiple streams of passive income. Steve Pavlina has a great article on this.

Passive income is really cool, because the idea is that once you set up your income stream, the money keeps coming in without your intervention. The down side is that most of your passive income sources will return just a little bit of money. The upside is that you can create an unlimited number of income sources.

Here’s an analogy for passive income: You’re setting up little electricity machines that run on their own once they’re built. Each little machine only produces a little bit of electricity. You spend a little while building one machine, turn it on, and then start building another one. Pretty soon you have quite a few of these machines built, and all those tiny sources of electricity add up to a pretty huge amount.

Technology makes it easier than ever to set up passive income sources. They take care of all the repetitive, boring tasks, so that you can focus more on the big picture.

Krunchable Video Site

So I’m trying out a little experiment. I decided to take down the blog on Krunchable.com and instead put up a Youtube style video site. I bought a script called phpAutovideo that pretty much does everything for you, including finding the videos.

One thing I’m proud of is the fact that I’ve made enough money from ads on Scholarpreneur (another passive income source for me) to pay for the script. So I’m not losing any money, I’m simply putting my profits back into my business.

I haven’t really decided what I’m going to do with it. For now, it will have music videos, funny videos, and college humor type stuff.

Check the new Krunchable out and tell me what you think! It’s not finished and still a little buggy, so if you find something’s broken, let me know.

And if you find a video you like, Stumble it, Digg it, favorite it, etc.

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