Passive income is the most highly sought after type of income in the world! Everyone wants to be able to sit back and watch the money roll in, right?
Who can blame them?
If I said you can choose one of these which would you choose?
- to spend the rest of your life working 40+ hours a week for just about enough to live on
- to work for 40 hours just once and earn enough to live on for the rest of your life
You would be a very unique individual if you choose the first one! I certainly know which I prefer and it is the passive income one every time!
Passive income is what changes lives….
The Problem with Passive Income
The problem with passive income is there is a huge myth around how to get it. There are so many people who believe you have to be in the right place at the right time to get passive income. Its just not true. That myth was created by the you have to join now or you will miss out brigade.
Guess what? They even have the ultimate response to why you are not making any money when you do join…. you were just too late they say. You should have joined when I did because I am making money. Heard it before?
The thing is the only reason they are making money with this kind of thing is because they got you to join them. YOU are paying them. If they also have others paying them they are earning more passive income.
This is not real, and it is why so many people get scammed when they are trying to create passive income.
Do note this is different to joining a program where the person who recommended it to you earns a little commission from your efforts. In that case the company is still paying them for sales made etc.
Here is the difference:
Example A: You pay to join a program. The person who referred you gets paid from your money.
Example B: You join a program and make a sale. The company receives payment for that sale. The person who referred you gets a bonus payment from the money for the sale that you made.
The Only Real Way to Get Passive Income
The only real way to get passive income is through the accumulation of assets. An asset is something that is of value. It is useful or desirable. In the example above YOU are the asset of the person who got you to join them. In the real world assets are things like property, information, songs, companies, stocks/shares and physical goods.
An asset is always something that has been created. Time and effort has gone into the creation of the asset. For example a writer has spent time and effort writing a book, a song writer has spent time and effort creating lyrics and music. I have spent time and effort creating this blog – this is one of my assets.
To get passive income yourself you also need to create assets… or buy them. You do not exchange time for payment when you have assets, you build them, accumulate them and nurture them. The income is generated when you sell the asset over and over (like a book is written once and sold hundreds or thousands of times), or it increases in value.
The Snowball Effect
The snowball effect is when you start with something small and make it grow. A handful of snow becomes a snowman when you roll it in more snow.
It is from using the snowball effect that I have generated my own income so far. I started exchanging my time for money by doing surveys and clicking on ads. With that small amount of money I then purchased things that grow in value: I purchased the hosting for this blog and made it grow by adding more and more information. In addition I purchased some shares in companies that are growing and developing, so the shares increase in value. In other words I invested time and money to make my income grow. This is the basis of my zero2earninghero system. It teaches how to make the first little handful of money and how to make it grow.
Creating Multiple Income Streams
Creating multiple income streams from nothing takes time and patience but it is possible. More importantly everyone can do it. Everyone in the world can be taught how to make a small handful of money and shown how to grow it. Passive income is not only for those with the skills to create books or blogs or songs etc and that is the reason I love it. With a little bit of information those with nothing (or nothing to spare) can create an income. It takes no special skills, and no selling or recruiting!
With a bit more information everyone can take 1 source of income and turn it into 2 sources. Creating multiple income streams is just as simple as breaking a snowball into 2 handfuls and rolling them in different directions…
If you want to build a real passive income, and you are willing to spend a bit of time and effort to do it, I am happy to provide the information that tells you exactly how to do it 😉