Three Ways to Get Started with Passive Income

Okay, now we’ve had some time to play around with all the possibilities that a lot of Passive Incomepassive income can bring into our lives, it’s time to get to work.

I’m not a major industry player and I’m not a rich man so what I can share is what I’ve learned when I first started on this journey. And as with all our journeys in life, the most important but also hardest thing to do is to take that first step. Excuse me if these suggestions are more on the side of philosophical or general…we’ll have time to get into the technical details of everything later.

And now…how to get started with passive income…

Think About It

Now, if passive income was so easy to make, everyone would all be doing it and we’d all be happily semi-retired. However, this is a case of easy to say, a little harder to execute. For me, the biggest lesson when it came to passive income was to always think about it. If you want to be able to generate passive income, you have to focus on it. Pour all your creative thinking into how to make money by doing as little as possible. Once you’ve programmed it into your brain that income must be passive, it becomes easier to come up with ideas that line up with your goals. Filtering out those that have nothing to do with what you want becomes easier and comes more naturally.

Read About It

Before you do anything rash, or put money into anything, remember that it’s important to be well informed.

Read about how other people make their passive income. The books are all there. Rich Dad, Poor Dad is a great start. Tim Ferris’ Four Hour Work Week is also a great (and not to mention extreme) alternative.

If you’re looking for a blog to follow (besides this one, of course!), I highly recommend  Pat Flynn’s Smart Passive Income. Like me, he was once a cubicle hugger who found his calling on the internet after the choice was forced on him (he was laid off).

I just love his folksy writing style and he makes things sound really easy with a tone that seems to whisper “if I can do it, so can you!” Plus, he’s very interactive and likes to converse with the people that participate in his comments section.

On the side, Inc.com is a great resource for people that would like to start their own businesses, even  from the comfort of their own home!

Do It!Do it!

Make a phone call, book a website, start an eBay account, register on Amazon, talk to someone. Whatever it is, just do it! I found that doing something towards a goal makes it a reality, or at least a little more real. The dream starts to take shape when you know you’ve taken that first step.  Personally, the two things that make things real for me is when I…

  • Register a new domain to start a new website (FAST TIP: this is the easiest and cheapest thing you can do!)
  • Register a new company. Nothing can be more real than something that is legally recognized by the government.
  • Print out my first business card.

The acts are symbolic but it’s real work and an effective first step towards your goal.

So tell me, what have you decided to do?

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