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The Passive Income Myth

Sounds amazing doesn’t it?

A side gig that just keeps growing and earning you more money after you put in the effort once. Build a few websites, drive some traffic, and you’re good to go.
Chill out on the beach, check your computer every now and then and see how much money has come into your bank account since your last cocktail.

This fantasy is often what’s pitched peddled by thousands of “gurus” online. If you’re not familiar with passive income (and if your parents taught you any wisdom growing up) you might ask the question, “Is making money online a real thing, or just a scam?”.

Not only this, but if it’s the real deal, why doesn’t everyone quit their job and do it?

I’m glad you’re thinking about these things. I think about them quite often. Before I was a recipient of my very own source of passive income, I had endless thoughts and questions about the topic. Little did I know, I was going into a messy, often shady part of town, inside of the internet. It’s like this neighborhood I was in a few years ago in Atlanta when my car, passport, and favorite clothes were stolen in broad daylight. True story.

I was minding my own business in Atlanta, thinking the best of the world we live in, and then BAM. Car stolen. I chased the thief on foot and almost got a beat down from his squad.

This happens online in a similar way. We find a nice looking guru who promises the life of your dreams if you just fork over your hard earned cash for his/her Hyper-Exclusive, VIP, Secret formula for earning thousands per month in passive income. “Get thousands of dollars each month on auto-pilot!!!” the sales page might scream.

You hesitate and you think about it. “It sounds too good to be true” you think to yourself. You remember your parents taught you what that phrase means. But thousands of dollars for only a little work up front sounds really nice. Plus, that one guy from high school is super successful and he said something on facebook about passive income. And hey, how great is this world we live in? Surly they wouldn’t take my money and run. Plus, the testimonials on the site look adequate. It seems their not a total scammer.

Off goes your money and a month later, you feel as if someone just stole your baby car, along with passport, valuables, etc.

This will sound a bit dramatic if you haven’t had the very unpleasant experience of buyers remorse online (especially when it comes to passive income). If you’re an internet-buyers-remorse-virgin (I just invented a new word) you are a rare breed. We all envy your innocence.

Let me be clear, I am not saying that all experts online are scammers. Not all people in that neighborhood are car thieves. Heck, I am an expert and actively teach people how to earn a sustainable income online.

I’m simply making an effort to educate as many people as possible about this widely misunderstood topic.

Not only do gurus give the wrong impression of passive income, the lifestyle of a location independent entrepreneur can be confusing for many. Because this work can be done from anywhere and it’s enjoyable for me to do, many get the impression I do not work at all. When someone pays me $47 for a webinar I did one year ago, the outside observer is sometimes either offended or impressed. They say “you just made $47 for doing nothing!”. Yes, technically I did the work previously and now that it’s a finished product, I profit off it again and again (passive income). But did I really make money doing nothing?

Here in lies the problem. The desire to get something for nothing. What is unseen in the above scenario, are the countless failures I’ve overcome from personal experience, years of research, and an obsessive desire to learn all I can on the subject. I spend hours each day coming up with new ideas, topics for content, and ways I can serve my audience online. I’m also constantly refining my presentations, hosting free webinars, and doing dedicated live-streams to educate people on earning money online.

It’s safe to say I’ve busted my ass for a while to learn what I know, reach an audience who truly can benefit from my knowledge, and create quality content. Doesn’t sound like nothing to me!

There is an alarming focus on immediate gratification with online business. As if making money online is exempt from the natural laws of economy. People are so focused on the immediate $47 sale, they forget the hard work that was poured out to achieve the possibility of earning money again and again on a single product.

It is this focus that blinds almost everyone when it comes to passive income. Take the car thief for example. He wasn’t willing to put in the work to get something he desired (my car in this case). Instead of working his ass off for years, he stole from me. It’s unfortunate for him, because it landed him in jail and it probably didn’t help secure a prosperous future for himself.

The reason most people don’t quit their job and start making a living online, and earning passive income, is because shortcuts online end up the same as short cuts in everyday life. It takes a consistency and persistence that most just cannot stomach. Those that do endure and stay the course, are often increasingly successful as time goes on and build up serious wealth for themselves.

“But Andy, I do have the stomach for this!” you might say.

In that case, let me leave you with some practical steps you can take to start earning passive income online.

Get yourself a website. Build yourself a WordPress website (you can do it in under 10 minutes). One of the best ways to start building an audience is to blog about whatever it is you want to sell, or service you have to offer. This is a great step in offering value to your audience.

Get your email list started. Now. I can’t stress the importance of this enough. If you’re able to get traffic on your website (a topic for another time) it’s going to be wasted if you don’t give people the opportunity to keep in touch, by giving you their email address. Plus, when you create content intended to help your readers, you’ll need a way to contact them about it. I started with MailChimp and now use AWeber (aff).

Follow people who are where you want to be. Pay attention to those you admire and how they create, sell, and distribute content or services. Take note of what you love about it. Study those who are successful in the industry you want to succeed in. Ask yourself, why they do things the way they do. Pay attention to what can be improved and implement those improvements in your own content/services.

Be persistent. If you were going to absorb one point from this entire post, it’s this one. If you want to really make it online, you can’t be average. The average is represented by the tens of thousands of people who have given up and let their website or online creation die. A digital cemetery representing mass defeat after multiple temporary failures. A sad lack of persistence which is very common online today.

The good news? If the majority of people were incredibly persistent, there would be much less room for you and me to get our message out there, create quality content, and get paid for it. So if you’re feeling inspired, let the lack of persistence in others encourage you. It means one less guru who will have wounded one of your future customers. It means more people choosing a path that is better suited for them.

And now, one of those live-streams where we discuss passive income.

 

 

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