When to Not Be Passive with Passive Income

Passive income is a fantastic concept. It evokes visions of fast cars, luxurious living, and endless leisure time. The thought of living a lifestyle like that is understandably seductive. Too many young people, suckled by the Internet and infused with too little life experience, expect to put up a free website, sit back, and rake in the cash. When it doesn’t happen, these young adults often turn to this system and that report or this secret method, which for just a few bucks, is guaranteed to bring in thousands of dollars per month. Well guess what? The only people making thousands of dollars per month are the people selling this crap and broadly speaking, the buyers of this bullshit end up bankrupt or worse.

How Many Internet Millionaires Do You Know Personally?

Honestly, how many people do you know personally who earn even an above average income solely from a website? None! Well neither do I. Earning a lucrative income on the web is certainly possible, but you have to work your ass off to get to the point where you can rest from your labors and enjoy a passive income stream, or more likely, streams.  The Internet has forever altered the way we work, but one thing has not changed and will probably never change—you have to pay your dues! The only get-rich-quick scheme that has any merit is bank robbery and even that takes preparation and work. By the way, I am not advocating bank robbery. Let’s face it. If making money on the Internet were easy, all of us millionaires would be tripping over one another in the Bentley showroom.

Don’t spend your life and your money paying for this foolishness. Please, don’t throw Mark Zuckerberg in my face. I know, he is only 28 years old and yes, he’s a billionaire, but he’s been writing software programs since middle-school. In addition, it is said that he was a child prodigy. The kid paid his dues. Besides, there’s nothing passive about the way he earned his billions.

So, Just Give Up?

As the great W. C. Fields once said, “If at first you don’t succeed, try, try again. Then quit. There’s no point in being a damn fool about it.”  That’s a joke, but there is always an element of truth in a jest. That’s why we laugh. Frankly, I think it’s a noble quality to keep trying to reach your goals and achieve your dreams. The reality is you need real life experience, not just virtual experience, to achieve those goals and dreams. You also need to pay your dues, work hard, and have some patience. We have instant coffee, instant lottery tickets, instant noodles, and instant pudding, but there is no such thing as instant success.

Four Things You Cannot Be Passive About

Passive income is, in a manner of speaking, a misnomer. You can’t be passive and still achieve your goal of building a passive income. The four things you must never be passive about are:

1        Competitiveness

If you labor under the illusion that passive income streams do not require that you maintain a competitive edge over your competition, you will fail.

2        Customer Focused

Customers are ultimately the lifeblood of any income strategy. Lose focus on your customers and you will fail.

3        Leadership

Whether you are working alone, with a team, or with business associates, you can’t be passive about leadership. If you do not demonstrate leadership, you will fail.

4        Passion

If you are not passionate about your work, if your work does not have meaning for you, you will fail.

I trust I have not said anything here to discourage you. That is certainly not my intent. I want you to consider your aspirations and see if they will work when it comes to building passive income streams. Either you are up to the task or you are not. Reading this should help you know the answer to that very important question.

Do you have a passive income stream or streams? How did you get started? 

One Response to When to Not Be Passive with Passive Income

  1. Alex says:

    The only passive income strategy I have at this moment is some dividend investments. I do think they could benefit from more work and analysis on my part.

Leave a Reply

*