It becomes more and more clear to me that diversifying my income sources is a smart thing to do.
You never know when your primary income source is about to sever ties and leave you abandoned with nothing but a wish for good luck and then they are gone.
In the world we live in it makes more sense to anticipate that than to question when it happens. Gone are the days of stability for any company big or small.
Let’s consider the publication of a book as a prime example. In bygone years, you couldn’t possibly publish a book without an acceptance from a book publisher. So, you fretted the rejection letter more than an eviction notice. Evicted you can find another place. Rejection and all your work for weeks, months, or years was down the drain. So you started all over again, sending out galley copies to more publishing houses waiting for more rejection letters.
So, a few people in a few publishing companies controlled access to everything.
But, you could be so bold as to freelance your writing or even self-publish. But, then, how would you market and promote the offer of your title to the book stores. After all, no one just sold books outright. You had to get shelf space in a bookstore in order to get the public to see your wonderful, self-published book.
But, you then had to find a printer that would print the book, and a binder to bind the book. These were off line and off press hit or miss opportunities and considered more a vanity press than a legitimate professional printing.
So, a few printers and binders controlled everything.
The real challenge was the marketing and distribution of the book which involved shipping and postage to which strategic locations in which places that were prime for a book like yours.
So then, a few people in a few marketing companies and a fewer number of people in a larger number of bookstores controlled everything.
Guess what…self publishing is done with a click of the mouse and distribution is worldwide and printing/inventory is digital and there are no barriers to writing and publishing and achieving income from book writing. Read more
Passive Income Streams conjures up a real beautiful picture, doesn’t it. Seating beside the ocean, sipping a light refreshment, opening up your laptop and watching your bank account grow. Yeah!
But I’ve got a different picture of things. Money pouring into my window while I snooze away. Even while I am sleeping the money just keeps pouring in. I’m at the least involved state I could be in and the money, yes, just keeps pouring in, cascading down the wall and onto the floor. All I have to do is pick it up in the morning!
Wikipedia describes PIS (unfortunate acronym, right?) different from unearned income, and I like that a lot.
My concept of passive income is nothing like unearned. There’s a ton of work to be done and it’s all up front, in my understanding of passive.
Now there are those that would sell you something like this:
TONIGHT! Learn how a entrepreneur went from $38,000 a year to making $107,000 a month all on autopilot! All you need is this special formula that’s been perfected over the last 8 years and you can do the same in no time at all.
Watch this webinar and see how not only the author of the formula but even an 18 year old paraplegic blind girl and her 92 year old great grandmother are crushing it doing the same thing.
You can build assets that pay you every minute of every day for years to come just by learning and applying this formula.
You’ll see: how to find the right niche; how to set up a one page whiz bang money vacuum; the only problems you’ll have is knowing how you can possibly spend that much money and the many other people you can help!
I’m sorry for the jaded tone, but I’ve seen them all. Read more