Thirteen years later, at age 39, I’ve built two online businesses that earn me a total of $160,000 a month in passive income. I also recently published a book, “How to Get Paid for What You Know.” The first business I started was The Recording Revolution, a music and education blog that sells music production courses. The second one, which I started in 2018, teaches people how to monetize their passions, just like I did. It is the most profitable business, thanks to sales of online courses and coaching programs, as well as affiliate commissions. Graham Cochrane started his first business in 2009. Since then, he has scaled to two online companies and now brings in about $120,000 a month. Photo: John Olson for CNBC Make It About 2,800 people use my products and my goal is to help more entrepreneurs grow their online businesses while working fewer hours. My top priorities are spending time with family and being able to give back, so I’ve arranged my work and personal life to focus on these core values. Here’s what my typical day looks like:
Mornings start slow and easy
I usually wake up at 5am – before the kids – because I always want an hour to myself. I’ll start with my coffee and my Bible. After some reading, prayer, and journaling, I’ll make breakfast with my wife and wake up the kids. We will spend 20 to 30 minutes eating together in the kitchen before I drop them off at school by 7:30am. Then I head back to my home office or do a quick fitness session if I’m in the mood. Graham and his wife have breakfast with their children in the morning before talking about their schedule. Photo: John Olson for CNBC Make It
I only work five hours a week — Monday and Wednesday
On Mondays, I design and create YouTube videos and podcast episodes. Potential clients usually find me through this free online content. If they like it, they can sign up for my newsletter and receive emails about free resources and premium online courses. I make a chunk of passive income from these courses. I’ve designed my business system to automatically send emails, so most of my job is just to keep a steady flow of new, free content. Video and podcast recording takes about two hours. I also have someone who edits and uploads the content. The remaining time on Mondays is spent answering emails or giving advice to members of my Six Figure Coaching Community. On Wednesdays, I spend time interacting with the community and then host a 90-minute live call with my advanced business coaching students. Graham spends about five hours a week creating content and managing his businesses. Photo: John Olson for CNBC Make It Once a month, I film an exclusive training for members of my paid community, which adds about two extra hours of work per month to my schedule. I’ve never been a fan of hustle culture. I don’t think it’s healthy or wise. If you can find a way to set up systems in your business so that they mostly run on their own, you don’t have to waste time doing constant maintenance. After all, what’s the point of “being your own boss” if you’re always working?
Family time is my No. 1 priority
People often ask me what I do with all the extra time in my week, and my answer isn’t the most exciting. I run errands, go to the gym, go to the car wash, have coffee or lunch with a friend, or dive into a good book. Right now, I’m reading “Living Fearless” by Jamie Winship. But most importantly, I spend time with my family. Fridays are considered “date day” with my wife. We work out, go to lunch, figure out life, talk about the kids, and meet with our marriage counselor. Lately, we’ve been focusing on how to better communicate when we have disagreements. No marriage is perfect and the work I’ve put into our relationship has made me a better husband and father. My wife and I never compromise on picking up the kids from school together. We want to be home when he is. Our other non-negotiable is family dinner. We sit down to a technology-free dinner every night. Most nights my wife and I do the dishes. But we also eat out a few times a week. “My schedule has two non-negotiables,” says Graham: “I pick my daughters up from school every day and our family eats dinner together every night.” Photo: John Olson for CNBC Make It We love going for walks, swimming in the pool, watching movies or playing Nintendo Switch with the kids. By spending time together, we hope to teach them basic life skills, such as how to share feelings and be kind to each other. I also want them to feel valued, including family members. We’re also well-traveled — both locally in Florida and around the world. A few summers ago, we spent a month in the South of France. And just this spring, we stayed in Puerto Rico for three weeks. Having the time and flexibility to make these kinds of memories together is priceless.
Radical generosity is a core value
We attend church every Sunday and often do volunteer work with local organizations that help our city’s homeless population. My philosophy is that I make this money so that I can give most of my earnings to charities and to my local church, groups that do a lot of good in the world. Right now, my wife and I give 30% of our income, but we hope to eventually give 50%. Graham Cochrane is the founder of The Recording Revolution, author of “How to Get Paid for What You Know” and is a business coach to over 2,800 clients worldwide. Follow him on Instagram and Twitter. Dont miss:
