The Real Truth About Passive Income

The Real Truth About Passive Income

The Real Truth About Passive IncomeToday we’re going to reveal the real truth about passive income and dispel some of those myths and untruths we’re all familiar with and to show you that there are numerous ways to generate what is known as passive income.

We were first introduced to the passive income or residual income method when we joined a network marketing company in 2005.  Now we didn’t do anthing further with that company but we always saw that passive income generation was something we would come back to one day. We were working a traditional ‘time for money‘ management consultancy and knew that could not go on forever and we weren’t getting any younger…

There will always be something that gives you that push to make change!

To put this into perspective a lot of people say it doesn’t exist but it does.  Think about your mobile phone contract for example.  You take out a contract and the mobile company bills you every month.  That’s a form of passive income in the real world.  Money that comes into their account month in and month out without them having to do any additional work other ensure the service you pay for is provided.

Passive income works in so many different ways but one myth we want to dispel right away is that it you don’t have to do any work to generate it.  The real truth about passive income is that you have to do the work upfront make no mistake.  Just like the mobile phone salesman had to make the sale in the first instance for the company to be paid ‘passively‘ every month for the service.

Why Passive Income is the Ultimate Business Model

The Real Truth About Passive IncomeEarning a truly passive income is the end goal of the vast majority of internet marketers / online business owners and you could very easily consider it to be an absolutely ideal situation in terms of finances and business.

What is passive income? It means that you earn money without having to work. That doesn’t mean you haven’t worked for it though – it just means you’ve sowed your seeds so that you can profit long into the future.

In other words, you invest some time and money into setting up a business model that is capable of ‘running itself’ and from then on, you reap the benefits. You might even continue to work on the business model in your spare time to scale it further, or to keep it going, but the point is that you don’t have to actively trade your time for money any more.

Once you have a passive business model, you can literally continue to earn money while you’re sleeping.

Working online increases your freedom to a great extent because it allows you to choose how and when you work. But if you’re providing a service to a client, then that’s still not true freedom. At the end of the day, if you take time off, you lose money (that was us).

But with passive income, you really do get to experience true freedom. Now you can choose to take the entire day off, or to refrain from working for the next week even and there will be no repercussions.

Want to spend more time with your kids? You can!

Want to go for a stroll and feel the sun on your face? You bet!

Want to go travelling? Work on a personal project that means a lot to you? Stay in bed?

We think you’re starting to get the picture…

Using Passive Income to Become Truly Wealthy

But for many people, passive income goes further than this. For many people, the real truth about passive income is that it isn’t necessarily about working less but rather it is about increasing their income.

More so than any other type of business, a passive income model will allow you to scale. Why? Because if you start earning money that doesn’t require your active input, then there’s no reason that you can’t use your free time to set up another passive income model.

When we first started out we began with just one income stream but over time (6 years now) we have added multiple passive income streams to our business. The more separate passive income businesses you create, the more resilient your business will become.

Ultimate Passive Income

What to Expect and How to Approach Passive Income

So what is the secret to success when it comes to passive income? What should you expect from it? And how do you approach it without risking serious disappointment?

The first thing to do is to have the right expectations. Too many people expect to get money for nothing and to make a huge profit from a website or blog for example after putting in only a small amount of work.

What’s very important to understand here is that passive income does not mean that you are getting money for nothing. This is not a get-rich quick scheme and it does take work and know-how.  Guess that’s why we love the education and training niche and helping entrepreneurs achieve their goals and dreams of a business that really does work for them.

You have to have the right approach to generating passive income because if you head into this expecting to make $100 a day immediately, you are going to be disappointed and you are probably going to quit out of frustration before you get anywhere. This is what happens to the vast majority of people.

It’s also important because we don’t want any of you to run out right now and quit your day job!

What you need to do, is scale back your expectations and make a steady attempt to increase your earnings and to build a business.

Your aim is not to give up your day job. Not right away anyway! Rather, your aim is to make yourself some extra money on the side that will make your day-to-day life that much comfier and more enjoyable. It’s to fund your lifestyle and it’s to follow something you’re passionate about.

That’s the real truth about passive income

The Real Truth About Passive IncomeTo find out more and the different types of passive income businesses you can engage in you can download our mini book “Ultimate Passive Income” with our compliments here

It’s full of practical advice, different ways to create passive income (some which may surprise you and you have never thought of even) and our favourite which is affiliate marketing

We do hope you enjoy and take value from your copy of the Ultimate Passive Income one of the mini books in our Success Formula Series

Chris and Susan Signature

 

 

 

Who Are We

We’re former accountants of a certain age (60+) with 5 great kids, 3 grandchildren and our last remaining cat. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful business online and now speak on international stages following that passion. Our worldwide educational business is centered on online marketing business education and wealth creation and a desire to help you create financial freedom online through entrepreneurship in the digital economy whatever your age or experience.

Authors : The Mindset Shift

ca-lvSkype : chrisbeesley1 susanbeesley1

Mobile/Cell: +44 (0)7802857551

Email:

chrisandsusan@chrisandsusanbeesley.com

Connect on Facebook

Join Our Facebook Group For Entrepreneurs (Our Tribe)

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Posted in Affiliate Marketing, Entrepreneurship, Internet Marketing, Make Money Online, Online Marketing Education, The Real Truth About, Wealth Creation & Prosperity | Tagged , , , , , | Leave a comment

How To Accelerate Your Results In Life And Business

How To Accelerate Your Results

How To Accelerate Your ResultsWe were watching a very short video clip on YouTube yesterday “How To Accelerate Your Results” from a presentation given by Jack Canfield.  Jack Canfield is the author of the Chicken Soup For The Soul books as well as our favourite – The Success Principles How to Get From Where You Are To Where You Want To Be

This picture is a visualisation we have of hiking in the Himalayas – it’s one of our goals – one of our “bucket list things to do before we die”  We know we will do it

We highly recommend you get a copy of The Success Principles and that you watch the video (it’s only 7 minutes long)

How To Accelerate Your Results Video Clip

We thought this video How To Accelerate Your Success was so down to earth and sensible.  With so much written on goal setting and goal achieving it’s easy to dismiss the simple and easy steps you can take around absolutely anything in life.

We’ve included some of the transcription of How To Accelerate Your Success as we believe it really gets the message across well.

Jack Canfield begins …

“I want to share with you real quickly, three ways to accelerate this asking phase. There’s ask, believe, receive. Let’s look at asking for just a little bit longer. In asking, three things that are really useful I found, number one, it’s called the irritation list. Walk through your home, your business, your apartment, your condo, anything you’re in charge of and make a list of all the things that aren’t exactly the way you want it. “There’s never a stapler by the Xerox machine.” “Someone always leaves that cabinet open.” “My kid never picks up after himself.” “Those pictures are always slanted. They never stay straight.” “The screen door slams.” “There’s a hole in the window.” Whatever it is, write it down.

You’re in charge of and make a list of all the things that aren’t exactly the way you want it. “There’s never a stapler by the Xerox machine.” “Someone always leaves that cabinet open.” “My kid never picks up after himself.” “Those pictures are always slanted. They never stay straight.” “The screen door slams.” “There’s a hole in the window.” Whatever it is, write it down.”

Then, go back, and here’s the key part. Remember in law of attraction, we always focus on what you want, not what you don’t want. You don’t want to be going “I don’t want …. ” because that’s precicely what yu will get because what you focus on you attract. You want to focus on the opposite. What you want to focus on is the opposite of your ‘irritation list’.

They key is, there’s always solutions.

He goes on to say …

“Why is it so important? We’re talking mostly about being wealthy, having great relationships, great health, world peace, ending hunger ….. When you settle consistently, you develop a habit of settling for what you don’t want. Most people go through life in resignation. They have resigned themself to not having it the way they want it.”

The 101 Goals List

shutterstock_403615447Here’s where Jack begins to talk about something very close to our heart …

“The second thing is what we call the 101 goals list. Make a list of 101 things you want to achieve before you die”

I was sharing this with someone last night and they said,  “that just seems like a really big task. I’m a single mom, I don’t have any time. When am I going to do that?

We know that one of the things about high achievers is they all have goals. Only 10% of Americans set goals every year (Americans are not alone it’s us Brits too). 10%!

We also know the same 10% control 90% of the resources in the world. Literally without goals, you’re directionless. You will be used. People without goals get used by other people who have them. People that don’t have goals work for people who do.

You want to be someone who picks up and gets clear about what you want. Make a list, 101 goals. “I want to go to Paris.” “I want to skydive.” “I want to bungee cord jump.” “I want to play the guitar.” “I want to learn to juggle.” “I want to learn to do magic tricks for the kids.” “I want to go to the Olympics.” Whatever it is, make the list. You’ll see, there’s a lot of stuff under that you’ve put down that you want. You can have anything you want. For us it was learning to ski which we did some 20 years ago and now its to hike the himalayas like we said earlier.

Goal Setting & Visualisation

The last thing with this is what we call the vision exercise. There are seven categories to the vision exercise. Number one has to do with finance. We’re saying to you, we’re going to look at seven areas of your life for total abundance.

  • What do you want financially?
  • How much money do you want to earn?
  • How much profit do you want in your business?
  • What do you want your retirement fund to hold when you retire?
  • What are your goals?

A lot of people don’t even have any financial goals … The average American retires with $25,000 net worth and its probably a very similar story in the UK or any major nation in the world.

Number two, career and job. What do you want in your career and job? Maybe you want to be the regional sales manager, maybe you want to open up the office in Hong Kong, maybe you want to get an award for being the best speaker in your speaking business. Whatever it might be, what are your career and job goals?

Okay, the third area has to do with relationships. Most people have goals for job and for money, but do you have relationship goals? How many new friends do you want to make this year? Do you want to heal your relationship with your daughter? Do you want to have a better sex life and more intimacy with your spouse? Do you want to connect with your parents, who maybe you’ve been estranged to, or your sister? What are your relationship goals each year?

What are your health and fitness goals? Most of you don’t know your cholesterol level, don’t have a cholesterol level goal. You probably know what your weight is, we’re obsessed with that. What weight would you like to have? Goals, every year set how many vacation days you want to take. If you want to double your time off, make that a goal. You need time to recreate yourself, that’s what recreation means.

Personal. Personal is personal growth and emotional growth, spiritual growth, things like that. What are your goals there?

Then lastly, contribution. What contribution do you want to make to the world? What legacy do you want to live? Volunteer time, philanthropy, making a difference, ending hunger, whatever it might be. That’s an important one that most people don’t think that much about. I’ll tell you, I spent a lot of time with billionaires who have everything you think you’d ever want, and they’re still unhappy. One of the people I met with was worth about 500 million dollars. He said his life went through four stages. The first stage he said was called ‘stuff.’ He figured if he had lots of stuff, he’d be happy. He had lots of stuff, cars, boats, planes, wasn’t happy.

He said, “I guess I need better stuff.” So he got better stuff, right? A better plane, a better house, a better whatever. Still wasn’t happy. Then he said, “Maybe I’ve got the wrong stuff. If I own a football team, maybe that would make me happy.” Still wasn’t happy. Then he went into the fourth phase of his life. Unexpectedly, a friend asked him to come with him to give out some wheelchairs to kids who had lost their legs in landmines and stuff, in Bosnia and Croatia. He flies over and they’re putting kids in wheelchairs.

One of the kids in one of his visits, he put him in a wheelchair, 11 year old boy. He turned away and the kid wouldn’t let go of his leg. He turned back and through an interpreter, the boy said “Don’t leave yet.” He said, “I want to memorise your face.” He says, “Because when we meet again in heaven, I want to be able to say ‘thank you’ one more time.”

He said “That was the first time in my life I felt pure joy.” See, and the pure joy comes from giving. Giving that which you think you want to receive, and then it comes back. We always hear the word ‘multiplied.’ It truly does.

The next step is to be clear about how much you want, and by when you want it. What are the specific goals? You can have a dream like “I’d like to have more time with my wife. Well, we’ll take three long weekend vacations by October 31st.” Always make it as specific as you can. You might have a weight goal, “I want to lose weight.” Well, that can be “I’ll weigh 135 pounds by June 30th,” or “I’ll run a marathon by this date.” Get as specific as you can.

If you’re clear about the what it is you want, the how will show up. This is one of the important parts of ‘Law of Attraction.’ You don’t have to know the how. You just have to be clear about what it is you want. If you’re clear about what you want, your subconscious internally and externally, what we call source, the universe, the quantum field, infinite intelligence, God, will also figure out, so you’ve got two parts working together to create the pathway. It’s not important that you see the whole way.

We hope you found value from reading this post and it helps you realise that goal setting is not really as hard as it may seem.

We’ve written a book on it The Mindset Shift – Goal Setting Success Secrets if you want to go deeper into this subject.

Chris and Susan Signature

 

 

 

Who Are We

We’re former accountants of a certain age (60+) with 5 great kids, 3 grandchildren and our last remaining cat. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful business online and now speak on international stages following that passion. Our worldwide educational business is centered on online marketing business education and wealth creation and a desire to help you create financial freedom online through entrepreneurship in the digital economy whatever your age or experience.

Authors : The Mindset Shift

ca-lvSkype : chrisbeesley1 susanbeesley1

Mobile/Cell: +44 (0)7802857551

Email:

chrisandsusan@chrisandsusanbeesley.com

Connect on Facebook

Join Our Facebook Group For Entrepreneurs (Our Tribe)

If you enjoyed this post “How To Accelerate Your Results” and it may help someone please Comment, Like and Share

Posted in Business Success, Entrepreneurship, Law Of Attraction, motivation and inspiration, Personal Development, Retirement, Wealth Creation & Prosperity | Tagged , , , , , , | Leave a comment