So, there are really two answers to this questions. Short answer: Yes, ish. Long answer: It really depends on what you view as ‘passive’. Let’s dive a bit deeper.
So, when most people begin envisioning ‘passive’ income, they think of doing nothing, sitting on a beach, and money rolling into their bank account. That really is the ideal life after all. And it is possible for you to set up a system in which you are getting paid while not ‘actively’ working. However, the idea of it being truly and completely ‘passive’ is a bit of a misnomer.
To get to that truly passive phase of income, you are looking at a really solid amount of work. And how much work you put in at the beginning is going to determine how passive your stream of income is and how much money it can really make you in the long run.
One of the most popular forms of passive income is e-course creation. If you are an expert in a field (and I’m willing to bet that you are), you can create an e-course and get that information working for you. There is always someone looking to learn something somewhere. If you are able to take your are of expertise and explain it to someone in a way that is both understandable and actionable, you can create an e-course. I highly recommend that you create a thorough e-course with at least 1 hour of video and downloadable PDFs with fill-in info that your clients can use. That way the can follow along and have something to create action from.
One form of passive income that I see marketed often, but absolutely hate because it is skeevy as hell, is pyramid marketing. I REALLY dislike this form of money making, and I think it’s gross, but I’m giving it space because it needs talked about. Pyramid marketing is the type of money making scheme you see fancy schmancy gurus peddling when they tell you about the bajillions of dollars you can make simply by investing in their super awesome shiny fancy program. That program will typically run you thousands and it wont be much of anything but a bunch of videos. Those videos are literally nothing but people telling you how to sell those videos. Or they will be conference calls all about teaching you how to get other people to invest in those calls. And there will most likely be yelling and excitement. Sometimes, cussing. Depends. Anyway, all you have to do to make millions is get others to pay you thousands to get access to the same calls that you have access to and they will sell these same calls and videos to their people and you will all be billionaires. Except, not. Because you only get 5% of the money that you bring in. And the guy above you? Well he gets 15%. But the guy above him at the top of the pyramid? He gets the other 80%. Because he is the guy yelling on the phone and he’s the one recording that video in Puerto Rico that teaches you how to sell the videos of him on a beach teaching people how to sell videos of him talking on the beach. Get it? Good.
Leave a Reply