The basic idea of passive income is:
- Step 1. Start an online business.
- Step 2. Outsource everything.
- Step 3. Automate the online business.
- Step 4. Sit back, relax and enjoy the money.
As preachers found out this idea was getting all washed up, the new plan came in.
Here’s how the idea of passive income is being preached in 2020:
- Step 1. Start an online business.
- Step 2. Hustle hard for 5 years.
- Step 3. Live the next 60 years with financial freedom.
In the 21st century, every person on social media dreams of becoming financially independent at a young age. I had one too, and I did it. I became financially independent at 17 through BforBloggers, this blog you are reading right now.
Am I making passive income? NO.
Affiliate payments come in almost every day. Most of the time, I’m not actively promoting those products. We published an article a while back, and now it’s bringing in the results. Still, it’s not passive because as soon as I stop publishing new articles, it’ll get affected.
On average I work more than 7 hours a day alone on Web development projects. (Except for Sunday☀️)
Forget about the time spent with clients on calls and other productive habits such as reading and managing my team.
The real catalyst to our income is the work we put in every day on the blog. Frequent conversion optimization topic research, business partnerships, negotiations, staff payroll, following the trend, fixing errors, just to name a few.
If I quit my position here, grab a ticket to Hawaii and leave the whole business as it is… will I still be able to make the same income?
If you think you can set up an online business and sit back on a Tahiti beach with mink boots and a bank account full of money, you are fooling yourself.
Passive income usually isn’t a myth. It’s very much true. You do have multiple business opportunities to make money without working 9–5 every day.
All I need you to understand is there’s no way you can generate passive income when you start. Once you’ve made a significant profit, you can invest it in various businesses and expect to generate consistent cash flow without working daily.
Still, you will need constant innovation to catch up with the market. And to grow your business, you definitely need a lot more than 1 day a week.
If you’re making $10,000 per month in passive income from your business, and you’re happy with it. Great!
But if you want to scale, make more money, and have an impact on the world, you need to work hard.
Having expectations like working one day a week, compete business automation, set and forget, making money without actively working for it is futile. Please, don’t give in to that false dream.
An idea that’s sold by so-called “social media business experts.”
Follow these business experts, but don’t lose your consciousness. Before deciding, think rationally.
Identify the risks, the challenges and understand you’ll have to work to earn anything. At least in the start.
Don’t get fooled by the passive income figures of entrepreneurs like Elon Musk. The number of work people like him has put in to get to where they are right now can’t be replicated by most.
Even at their stage, they’re hard-working individuals.
Look around you, read the biographies and ask yourself this:
Has anyone ever achieved the dream of passive income without having to work for it?
The only people you’ll find successful without hard work are the so-called Instagram and Youtube business experts. They flex things they don’t own and fake it until they can own what they show you using the money you pay them.
Anyone on social media trying to sell you a dream of making six figures or more in passive income is a scam.
This idea that you must have a dream, hope, and a mentor to succeed is full of BS. They preach the same conceive-believe-achieve philosophy.
The chances of you falling into that rabbit hole are extremely high if you don’t get your focus out of it. If anyone is trying to tell you it’s possible to make money working 2 hours a week, run with your money and don’t look back.
Understand one thing:
You may be able to make money working 2 hours a week. You may also be able to generate cash flow from passive income.
But you won’t be able to do it unless you work your way up to a certain point.
And when you get there, you’ll naturally enjoy the process of working. Because then, your work will feel like a fun day at a park to you.
Work on your skills and diversify your income streams. Once you’ve got enough capital, build a competent team to handle each stream. Then you can sit back and relax without having to stress about work.
Once you have a team of people you can trust with your business. You won’t have to work every day to make your living, but you will, that’s for sure.