The Real Deal About Passive Income
Heard these words before?
“Walk Away Residual Income”
“Do Nothing Income”
Yes siree, you can be walking the beaches of the world with your own passive income producing cash machine.
So they say.
I’m talking about the passive income merchants who pervade the network marketing industry, and the broader ‘make money’ industry.
They sell the dream of passive ‘walkaway’ income to anyone who will listen.
And many do.
They lap it up.
And why wouldn’t they?
It’s very seductive. Especially to people who don’t know any better. And there’s a lot of them out there in the ‘burbs. I call them the ‘great unwashed’. These are the folks who want to believe. They really do. And they love to believe in the unknown, the unproven. That’s why many of them are religious folk. For them, believing in the unproven is no big deal. For them it’s easy to embrace the idea of a perfect future.
But what’s the reality with this passive income promoting industry?
The reality is that very few people make STABLE residual income. Consistently – day after day, month after month, year after year.
It rarely happens. But despite the known facts people will still buy into the passive income story. Why? Well, greed is the obvious reason. When greed comes to the fore rationality and good judgment fly out the window.
But there is another reason…..
It’s because they need and want to believe in something bigger than themselves. Put those two aspects together and you have a potent combination. It is for those reasons that the passive income evangelists will never go away. They will always have a ready made, eager audience who will lap it up. I’ve been one of them.
Many times. Over and over again. Like an alcoholic dripping at the trough of greed and avarice. Until one day I quit the habit. I gave it up, after (what seemed like) a lifetime of chasing rainbows.
And before you start railing at the merchants of greed who promote the passive income myth, remember that these guys can’t live in a vacuum. They prosper because we give them the oxygen. In a way, ‘they’ is us. ‘They’ were us once and somehow they got good at telling the story and influencing hoards of people to follow them to the promised land. And yeah, I’ve been one of them too – I was an influencer who pitched people on the passive income thing because in my former life as a gullible idiot I bought into the story. Shame on me for allowing greed to put my powers of rational judgment to one side.
Real Passive Income – It Starts and Ends Here
So how do you create REAL passive income?
You invest in assets that produce stable, permanent passive income, with little or no time input from you.
Assets like blue chip shares and real estate.
No get rich quick.
What about in the traditional business world – can’t you create passive income with a REAL business?
Yes and no.
If you define passive income as being something that is long term, permanent and comes in whether you work or not, there aren’t many business activities that will produce that type of income.
On the other hand if a form of passive income that is REASONABLY long term and semi-permanent appeals to you, there are plenty of options:
- Affiliate Marketing Continuity Program. You could promote an affiliate program that has a residual aspect. For example if you are an affiliate for an autoresponder service such as AWeber you could promote the service to businesses that are already online, or who want to add email to their marketing mix. My experience with this strategy is that people who sign up tend to keep paying for years, because they need the service for their business.
- Master Franchise. If you have money you could buy a master franchise, then recruit franchisees and enjoy a degree of passive income (trust me – it’s never fully passive) from their efforts.
- Royalty Income. If you’re a creative type you could write a book or record some music. If it becomes a hit you’ll enjoy royalties for years to come.
- Tech Product. If you’re into technology you could create an app or software that the world hungers for.
- Search Engine Manipulation. If you understand SEO techniques you could use it to rank your content on the search engines. Of course your content will include links to your own products or affiliate products – lots of semi passive income potential there. (Some of the blog posts I wrote years ago still get traffic all these years later – nice.)
- Training Platform. If you’ve got a training concept you think the world is hungry for, you could do worse than start a membership site. Charge a monthly fee and if the concept stacks up some of your paid subscribers will stay with you for years.
On it goes. The possibilities are endless. So the point is this: create ‘passive style’ income by mastering marketing, then leveraging your knowledge AND your skill into online and/or offline assets that produce regularly recurring income. It will probably never be truly passive, but at least you can control it to a certain degree. And any surplus income MUST be skimmed off to firstly pay down all personal debt, and secondly invested into safe (even boring) assets that produce solid income streams year in, year out.
That’s the formula.
Where To Now?
The foregoing assumes you have stopped chasing rainbows, fairy tales and unicorns. You’ve had enough of the get rich quick sales pitch and the passive income baloney. Instead you have – like me – matured and made the commitment to become a serious marketer – a true professional. A professional who is committed to the idea of being a value provider and spends your days honing your skills and perfecting your craft.
Are you at that place?
Good because now you will be (largely) immune to the tempting sales pitches that drain your wallet in a fruitless search for economic nirvana. Instead you’re now ready to listen to people like me who will tell you what you NEED to hear.
Tough talk? For sure. The way I look at it is that sooner or later you will have to face reality, because there is NO other option. So why not now? If this post serves to shake you up a bit, it’s probably because you need it. So in a way I’m performing a public service. Or maybe I have no idea what I’m talking about ’cause you have a friend who is making $50k a month after just 6 months, and it’s all on autopilot! Yeah right. Hey if you believe that I’ve got some swamp land in Australia I’ll sell you. You’ll love it!
Good Marketing Starts Here!
Yes it does
It starts with learning how to be market effectively so you can create your own income streams online. It’s called my Pull Marketing Formula – learn how to find people who WANT to do business with you. Grab your FREE copy now!