“Passive Income” – Will only lead to Disappointment | Shoestring Startups – Australian Startup & Small Business News, Profiles & How Tos
The truth is - it takes the four letter word - WORK - to establish ANY form of business. If you want passive income - you have to work hard at it to set it up, maintain it, nurture it. (This *typically* can take 2-3 years, not just a one or two month thing).
And then, IF you got it right - you can sit back with a lot more leisure time... but you still have to monitor and maintain it.
12-15 years ago, everyone on the net said "oh a membership site is the way to go, people will pay forEVER!" Duh. The net changes so fast, if a person stayed a year that was great. Most stopped within 3 months. (Pretty sure that's the industry average too).
Others said MLM is the way to go, but they totally failed to mention just how much work is involved, recruiting, referring people, getting new people under you (cuz others dropped out), etc. And most of those companies DON'T let you be "passive" (no work), if you do you lose income.
I'm not saying there isn't such a thing at all - I'm saying, people look at it wrong, and that's what I liked about this article. I've said this for years, it was nice to see a confirmation
Stop looking for that magic "thing" that will get you big riches so you can sit back.
Pick what you WANT, what you really ENJOY, and stick with it. Focus everything you can on it - it WILL take off.
BTW -YES I do know that amazon, apps, and other related type things CAN make great passive income - my point is, it takes WORK UP FRONT to do it first.
Too many people focus but then something doesn't turn out as quickly as they thought, and they give up and move on to the "next" thing.
Yes yes, I know, WSO's look so catchy and pretty and tempting lol especially with the psychological hype - it's like quitting smoking or losing weight - it takes willpower, because buying WSO's can be addicting. Resolve to have some restrictions on how much you'll spend or go cold turkey if you have to.
My motto is: (while I do review some... not often because I'm busy) - if it doesn't work directly with what I'm doing RIGHT NOW, if its not a compliment to it, or if it doesn't help me do something faster - I won't bother.
My daughter and I have this joke:
"Easily distracted by shiny objects".
Don't be. It'll pay off much faster if you focus.
Hope this helps a bit.