Yeh, that title sentence,(There Is No Such Thing As A Passive Income), is a line I heard every so often when trying to explain to people what I do and how I earn money working from home.
No one wants to believe it and I have to admit that when I first got started I also began to think the whole “Make Money Online” thing was just one big hoax.
I didn’t make my first dollar until a few months down the line and those few months were shear hell. I knew nothing of computers, search engines, creating websites or even how popular Amazon really was.
All I knew is that I wanted to give it a go.
I was struggling financially, mentally I was a mess and my thoughts of any kind of future were waning.
The few things on my side were the fact that I was very hard working, determined and super persistent.
The first couple of years were a huge learning process for me that included A LOT of information overdrive. I mean, I was struggling with depression and the last thing I needed was more “stuff” to squeeze into my fully packed brain.
But I kept going…I kept fighting…I kept ignoring everyone’s negativity towards this so called “online passive income”.
Fast forward a bunch of years and here I am today….finally earning and always learning.
Passive income or residual income does exist. Yes, I really do make money while I sleep, (I live in Spain so the time difference helps…lol).
If you want it too, then it is there for the taking…you just gotta watch out for a few things.
This is what I learned, especially with my own experience of struggling to “get somewhere” in this industry. There are 4 main reasons that can cause normal, motivated people to fail with their online businesses.
A True Belief That It Is Possible
Sounds weird but just because you are going through the motions it doesn’t mean that you really believe you can “do it”. It is bad enough having to listen to the negativity of others without having to also deal with your own negative thoughts.
Don’t get me wrong, you will have bad days and things will go wrong but that comes with any job and you must treat this like any other job.
Thousands of people start new offline businesses every day and the thing that keeps them going is the belief that they will make a success of it.
It may not be this year….or the next…but they believe that the struggle is worth it and some day they will see the return in their invested time and money.
Same goes for making money online. You just gotta keep at it!
Fear Of Investing Some Money
The first few years of doing this I hardly spent any money on the business. I guess I didn’t “believe” in the business, (re: above paragraphs).
Although I did start to make money I didn’t really see any huge returns until I invested a bit of money. I am talking about tiny amounts of cash for things like software and online courses, etc.
It wasn’t so much the money that pushed me forward….it was the change in my mindset DUE to me investing money in what I was doing.
I was no longer investing just my time…I had finally turned it into a real business by also investing my money. Now I HAD to succeed.
The change in my mindset made a huge difference.
You’ll need resources, software, traffic, outsourcing, etc. You won’t need it all at once of course, but being afraid, reluctant or unwilling to invest money in your business is most likely to be the thing that kills it off in the long run.
Even if you put in just a tiny amount each week or invest in quality courses, it is still going towards improving your business.
Not Acquiring The Specific Knowledge
You don’t need to know everything but you DO need to know the right things. Don’t be lazy! If you want to get anywhere making money online you gotta be prepared to learn and learn some more and then learn again!
You need to know how to access the information you don’t have. Likewise if your business isn’t moving forward because you simply don’t have the technical aspects of how to do something then find out or find someone who can do it for you.
Do some due diligence. Use Google, check YouTube, forums, etc whatever you need to FIND OUT the information that you need to know.
Not Enough Time Spent On Marketing
Come on admit it…how many of you regularly check your emails while working online? – Or stop to check out the latest sports results? – Or get distracted by all those fun looking shiny online objects?
Then there is all that work you put into creating something, a review website, a kindle book, a blog, a YouTube channel, etc…yet you do almost zero marketing for them!
How are you supposed to get any traffic? How are you going to get eyes on your product or website or video and then convince people to buy what you’re selling?
I personally find the marketing side of this business boring…but I gotta do it! I used to procrastinate a lot when it came time to market a Kindle book I created or a website I just built. Now I just get on with it….and you need to do the same.
Stop playing around with that new plugin you bought or that software or that new website theme. You should be doing something to move your business forward.
These are just four areas that I needed to improve in order to move forward. There are many more but you need to figure out the ones that are important to you.
In any case I hope this has helped all you newbies take your first steps into this business. I hope it saves you some time. I hope it gets you to think a little more about how you work and where you hope your business is going.
P.S. I am sure other experienced marketers here can add their own points that they feel helped them in the early days....or even today.