In this post I am going to share with you my personal thoughts on Passive income and how you can make a ton of it super fast.
Most people believe that Passive Income is income that is made by some sort of magical force where they don't have to do anything, and money just flies into their bank accounts by some mythical money God.
Kidding........but not really.
That is partially true.
A know a ton of people that believe they don't have to really work for passive income.
Do something one time and get money for life.
That is NOT realistic.
Passive Income (in that manner)...in my opinion is a myth. A fairytale.
It does not exist.
What Does Exist is a method to make money that where you don't have to work...much, and you can make a lot of money on near autopilot.
But it does entail some work consistently.
Maybe only an hour or two per week. But it's something.
What we are really concerned about here is what I call Cashflow.
IT'S ALL ABOUT THE CASHFLOW
Cashflow is a business term meaning the flow of money in and out of the business.
For us, it is more about what is left over at the end of the day that I focus on.
For instance, if your business was making $100,000 PER MONTH....would you be happy about that?
Of course most people are saying yes to that question.
Who would not want $100k coming in every single month?
But what about if you also had $150,000 in expenses?
How are you feeling now?
Now you have what we call "negative cashflow".
$100k coming in, but $150k going out.
You're $50k in the red.
So you see, it's not all about the money coming in. It's also about the money going out too.
Now if I had only $5,000 coming in monthly, but only $600 going out, that would make me very happy.
That means I get to keep $4,400 in my pocket.
Every single business decision you make, you should be concerned about Cashflow.
Now as the name suggests, you are going to need to have a steady "flow" of cash coming in.
For that, you are going to need a good business that solves a particular pocket of people's problems.
Yes, I said solve a problem that some group of people have.
NOT, go out and create a product, course, membership site or whatever, because YOU want to do it.
That is how 99% of people fail from the start.
They have an "amazing idea" for a widget of some sort and want so badly to get a product out there that they never even consider the fact that no one asked them for it.
Just because you love the idea behind your thing, doesn't mean people will buy it.
Find out what problem people are having, then figure out a way to solve it.
For me, I solve people's problems by either creating a course to help them solve it, maybe even a membership...
Or maybe I just recommend someone else's product to them using an affiliate link.
I help solve their problem and I get paid in return.
THAT is how you make endless amounts of Cashflow.