Passive income, is it possible?
Passive income?
We are approaching the last quarter of 2019 and it’s apparent that the byword of the year, and of previous years for that matter, is ‘Passive Income’, this phrase is all over the work from home, make money online, entrepreneurship and ‘guru’ space, there are hundreds if not thousands of YouTube videos with how to earn a ‘Passive Income Online’, so, what is Passive Income, and does it really exist?
Before I answer this question, lets first look at the dictionary definition of the word ‘Passive’:
Similar: submissive, acquiescent, unresisting, yielding, unassertive, non-resistant, compliant
What jumps out at me from the definition is ‘without active response’, so by definition a ‘passive income’ is money you earn without an active response, in other words you can put up a blog or website, add a few articles or products, press launch and go about your daily life travelling the world, drive around in fast cars, play golf or go skiing whilst the money to fund this lifestyle just drops into your bank account hour after hour, 365 days of the year!
So does passive income exist? Is it possible to sit back whilst the dollars or pounds roll in? (Spoiler alert – reality check coming up!).
Fifteen years ago I gave up my full time, reasonably well paid job to start an online business, I discussed it with my wife, and we decided that it was something we should do, after all, it’s easy isn’t it?, we live by the beach so can spend time on the beach with our children, whilst our online business provides a nice income, after all, that had been my dream since leaving school.
Yeah right! Oh how wrong I was! no matter how many ebooks I read (there was no YouTube back when I started), gurus I followed and signed up to, in reality it just doesn’t happen, lazy people do not make money online or anywhere, even the ‘gurus’ that sell the ‘earn passive millions’ dream have to work, put in the research, the hours and respond ‘actively’ not ‘passively’ to their business, the internet is a constantly changing animal, there is no launch and forget business model out there, sorry!
Like any business, online businesses need constant attention, they are never an instant success, it can take 6 months, a year or more before you can begin to see a profit, overnight successes are a myth, despite what you may read, watch online or hear on a podcast, anything you do online takes time and work, ‘active’ work, when you put in the work you will see success.
Your online success is a journey of learning and perseverance, learning comes in many forms, YouTube, books, podcasts and being part of a large community of likeminded people that have or are facing the same challenges as you, the community I’m part of, and that’s helping me on my journey is Wealthy Affiliate, they are a great community of people with a wealth of knowledge, from all backgrounds, from all over the world, and whats more, it’s free to join.
So what are you waiting for, click here and join our great community, actively start your journey to online success.