The dream is to sit on the beach while the money rolls into your bank accounts. You no longer have a job or even need a job. The days of crappy bosses are over. You know that no matter what, a residual stream of income will flow into your bank account every month. So how can I achieve this dream. How do I create passive income? What is the single greatest component of passive income?
As the waves roll in, you relax and sip a Mai Tai on the beach. Your carefree and you’ll never have to worry again.
Except… that’s just the dream. What’s the reality?
First, most passive income is going to take a little work to maintain. Unless you’re getting dividends from a multi-million dollar stock portfolio or you’re a trust fund baby, you’ll need to do some stuff to make sure that money keeps rolling in each month.
Second, spending all of your time partying and no time accomplishing anything gets real old, real fast. Twenty somethings I’ve known who made seven figures and thought they would party the rest of their lives found out that never ending partying with never ending hangovers gets old, fast. Then again, if that really is your dream, then more power to you.
But here’s the secret to passive income that most people miss entirely:
The single greatest component to passive income
In order to get passive income – that is, income that comes to you without further work – you first need to work.
If you go to a job where you get paid $20 an hour, after a week you get a check for $800.
But when you’re building a passive income, you might work weeks or months before you start seeing returns.
There is no passive income free ride.
Instead, passive income comes after you do the work.
You’ve got to do some serious work first. Or else you buy a site or program that has been already created.
When you change your mindset from, “get rich quick” to “do the work now, get paid for a long time later,” it becomes much easier to set a goal and then put in the time each day to getting closer and closer to that goal.
That’s why the first step to passive income is action.
A Shiny Star of Passive Income
Noah Kagan
Let me offer you what might be the ultimate example of creating a passive income stream with a lot of hard work:
Before expenses, Noah earns $357,000 in passive income…
per MONTH.
Wrap your head around that.
And he calls his “community of hustlers” site “The #1 Business Channel for Entrepreneurs.
And in this video… https://www.youtube.com/watch?v=HHR-NeSuynw&feature=youtu.be
…Noah reveals his passive income channels as an entrepreneur and YouTuber. Watch closely and you’ll see that a lot of his income streams aren’t passive at all. Rather, they’re the accumulative result of years of hard work and dedication, which now allows him to step back when he likes and still earn this income. By the way, he also reveals they invested over $400,000 into videos for the site, so take that into account as well.
But now matter how you slice it, Noah has done very well for himself.
And remember, he would never be earning this amount of money ‘passively’ if he hadn’t first worked his tail off.
Key Takeaway
Passive income requires hard work and dedication upfront.
Or if you don’t have the time, or you want to take a short cut, then you can buy a site, programs or funnels.
Here are 10 passive income membership sites that allow free access
The access gets you 10 courses and resources. The funnels progress with more paid training and resources Ultimately you can purchase a membership resellers license. So basically, a short-cut to owning your own passive income membership site.
- Traffic Generation
- Affiliate Profits
- eMarketers Club
- Membership Marketers
- Power Copy
- Power Marketers
- Product Profits
- Success Upgrade
- Wealth Upgrade
- Web Profits
Each of these sites has reseller rights available for purchase. This is a fast, easy, and efficient way to create an automated membership site, providing you with passive income and building your list at the same time.
So whether you do the work, or whether you buy the work done for you, there is a whole lot of work to be done to create a passive income stream. But wow, are they so worth it!
To your success,
Dave
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PS – My special offer for all Passive Income enthusiast! This is a great course at even a better value, Passive Income Strategies – 90% off – use coupon code “90%OFF2DAY”