Pursuing Passive Income: Knowing What You’re Getting Into

Pursuing Passive Income: Knowing What You’re Getting Into

Hello friend, and welcome to my first blog post! My name is Warren, and I’m the founder/creator of this site. I want to start my first post with a short, true story that inspired me to chase the passive income dream.

“The date was November of 2008, and I’m on my second month, serving a seven-month assignment to Iraq. After a long duty day, it was time to relax in my tent, ten of my brothers-in-arms shared. There really wasn’t much to do after the end of our duty day except to workout, eat, and read. Therefore, on this exciting evening, I chose to do some reading. 

I turned to one of my bunkmates (an active stock investor) and asked if I could borrow one of his books. He lent me Robert Kiyosaki’s “Rich Dad, Poor Dad,” which I devoured reading – to say the least. I always wanted to become a business owner. I was fascinated by the notions of escaping the ‘rat race’ and generating cash flow – which was just a couple of the book’s premises. 

After returning home in April of 2009, I started finding ways to emulate Mr. Kiyosaki’s business ideas. It wasn’t until I read Tim Ferriss’s “Four Hour Workweek,” which pretty much gave me the idea to tackle the world of internet marketing. The book encompasses the idea of creating income and enjoying life to its full capacity while not letting work take over. This is why I chose to make a living online since I figured it was the best place to realize that concept. 

And so, my journey began…”

If you haven’t read Robert Kiyosaki’s and Tim Ferriss’s books, then I highly recommend you do – or at least find other sources for inspiration. It’s imperative that you feel inspired when you start an online business because it makes being motivated easier. 

It’s not the only reason, but motivation is an essential element to have if you decide to venture into this competitive environment.

What Passive Income is Not

Although you can be very successful in making a living online, you also need to keep the following points in mind: 

1) It’s not an excuse to be lazy 

Just like in any business, the first few months (or years) are filled with growth-challenges that will require your utmost attention and effort. Because when you finally reach a point of seeing residual income, there’s the possibility of slowing down.

I’m not saying that’s a bad thing, though – you shouldn’t be at a high tempo all the time. Just ensure that your desire and drive to keep your business alive never escapes you. 

If anything, this phase in your business should now be geared towards expansion – whether it’s hiring an employee (or more) or engaging in other online opportunities.

2) It’s not something you can take for granted 

Making money online is a serious business, and it’s not easy to maintain. Don’t come into this thinking you’ll be an overnight success and attain wealth beyond your imagination – by doing less work and being impatient. Yes, you can be wealthy (other people have done it) with the internet. Still, it most definitely will not happen overnight, and with just little effort. Work hard and stay focused.

3) It’s not an escape 

When you start to make a steady stream of passive income, it doesn’t become a ‘set it and forget it’ situation. Because once you become a site owner (or multiple-site owner), seize other online opportunities, and/or add employees to your business, the tendency is to believe it can now run itself.

Unfortunately, that’s farther from the truth.

It’s a good sign to know your business has grown to the point where you’re working less and enjoying life more – that’s the goal, after all. But don’t make the mistake of becoming complacent in the process. It’s still your business, and it still requires your utmost attention. 

Even when you’re enjoying the warm, sandy beach and fresh ocean breeze of an island resort in the Caribbean, you still have responsibilities for what you’ve built. 

It’s a part of you now. 

It’s your livelihood. 

Forget this tip, and your business may soon fail due to the competition. There’s always someone else out there, trying to do things better. Therefore, you need to stay competitive.

Don’t Be Discouraged

The points I just mentioned were some of the realities of making a living online – and they weren’t meant to discourage you in any way. I feel it’s important that, though the rewards of living a financial and stress-free life are enticing, they will not last if this reality disillusions you.

You certainly deserve to enjoy the fruits of your labor and pat yourself in the back for a “job well done” – but also, never forgetting what got you there in the first place. The last thing you want to have happened is to lose your business (or at least have it go downhill) due to laziness, complacency, or being less-driven. 

Don’t forget – you’re not the only ‘Sheriff in town.’ There are thousands of other ‘players’ out there, playing a serious game on a field called – the internet. 

Are you ready to play and win?

Share Your Thoughts

What did you think of my first post? Have you read (or heard of) any of the books I mentioned? If not, what’s inspiring you to venture into this type of business? Do you see yourself becoming one of those online success stories? 

 I’d love to read your comments below, and thanks for sharing!