A couple of days ago I stumbled over the Smart-Passive-Income Blog. Pat Flynn writes about his experience making money doing “nothing”. Turns out the nothing part is actually hard work, but the making-money part is impressive …
… so I went back to the first post wishing to learn and get inspired …
Pat reveals the beauty of passive income – it works 24/7 – powered by the Internet.
What is smart passive income?
In a “normal” 9-to-5 job you get paid for the actual hours you work (or at least look like you are working). Which means, you do not get paid when you are not working. In addition your payment is limited by the hours you work. To get more money, you can work more, or need to get a higher rate.
With smart passive income you generate a stream of income which – once set up – which does not depend on your working hours. Accessible via the internet people are able to “consume” your products even while you are sleeping.
… two interesting question at the end of his post:
So what’s really keeping you from earning a passive income online?
I guess starting?! … and having a viable product …
If you already earn some extra money online, what was the hardest thing to do when starting?
Finally there is a dampener in the first comment of the post. A commenter writes quite enthusiastically and links to his own blog. His blog has exactly one single post … seems after the starting comes the continuing which might be hard, too.
How to find the extra time? Just don’t waste it, perhaps by watching less TV?
Of course creating the product meant to provide the unlimited stream of wealth, takes some time, too. You are working 40 hours a weak, have a family, friends, hobbies, other commitments. Your leisure time is even more exhausting than work. Bummer, no smart passive income for you?
Check your schedule, and check if what is on there is might be less important than creating unlimited wealth. Watching TV e.g. to know who becomes “Next [fill in the country of your choosing] Top Model”, or hear Jean Luc saying “Energize” the 2.403 time? It might also be possible to reduce your time creating the next virtual farm building …
Pat found his extra time and first success, documenting online while studying for an exam.
… is sad. Pat got laid off. But he is encouraged following his true purpose!
“Keep your head high – and thank [My Former Employer] for taking the chains off your potential.”
Sometimes we need a push even when life provides such pushes in abundance …