People can’t create passive income because they miss this 5 passive income rules. If you want a passive income you need to know this 5 passive income rules so you will get results fast.
We can explain passive income as “making money while you sleep” or “the money that works for you“. So basically passive income is an income where you don’t have to work for it all the time to earn it. For example, passive income is a rent from properties, you don’t have to actually work but a person who lives in a property that you own pays you monthly. Of course, not everybody is a realtor or an owner of many properties, the good news is that there are many ways to create passive income online. My favorites are network marketing and affiliate marketing. In my opinion, you can create multiple streams of passive income using these 2 ways but you need to accept the rules for creating this kind of income.
You need to understand the passive income. You can’t possibly achieve anything if you don’t fully understand it.
Below you can find some amazing articles that explain well about Passive Income.
1. Start Here – The Smart Blog
2. What is ‘Passive Income’
3. Article by Steve Pavlina
4. What’s The Point Of This Income?
You need to work hard before you reach passive income. People misunderstand this, believing that they will quickly set up something and that thing will create an unstoppable income so they could have money and time freedom. Yes, time and money freedom is very possible and this is what you should want to have more time with your family and have time for fun and helping others but creating passive income doesn’t happen overnight. Sometimes you need to work hard for few years before you reach the income level you want. The question is, are you willing to work hard for few years so than later you could have time and financial freedom for the rest of your life?
Create a vision and don’t give up. Once you create your vision you need to focus and no matter what happens you need to keep on going until you reach the results you want. Too many people give up too soon, usually, they give up just before they reach the results they want. So keep moving forward, success loves speed but if you think about quitting than it’s better to move forward slowly than quitting on your dreams.
Network Marketing and Making Money by those who say “NO”. Network Marketing is one of the best ways to create a passive income so if you are involved in network marketing business congrats to you if you send me an email so I can help you find a company that you will be comfortable working with. (here)
Network Marketing is one of the best ways but it also takes the time to build a team and create the residual income. Many marketers struggle because they many people refuse to join their business. The trick here is that you can actually Make Money by those people who say “NO” to your business opportunity. It’s an amazing thing to have a system where you can plug people to help them grow their business. If you have a system for earning money from people who say “no” to your network marketing business than you can create residual income faster than you think.
Mindset. This is probably the most important key to creating residual income and achieving your goals. Personal Development helps you grow and helps you stay on the path to success. If you don’t do Mindset Training that even if you achieve passive income somehow you will quickly loose it. A good example are lottery winners, it’s not a residual income but their mindset is not set for growth and success so when they win a lottery they lose it all in a couple of months or years. If you are constantly growing and learning you will be able not only keep that money but you will be able to double it. People say “I don’t need this brainwashing mindset talk”, “I don’t need that personal development thing. I just need money!”. The problem is that if your mindset is not right you won’t earn that money. So 5th the most important rule and a key to achieving financially and time freedom is the mindset. Buy some books, watch motivational and business speakers, to anything that will help you grow and learn new things.
Have an awesome day my friend!