The TRUTH About Passive Income (3 Myths BUSTED!) #Best Education Page #Online Earning

 How passive is passive income?

Can you actually make money doing nothing

and is this something that you could do?

Well, answers to these questions and more in this video,

Three Passive Income Myths Busted.

There are several definitions of passive income.

In the traditional sense, think of investments

in things such as rental properties

or perhaps in the marketplace.

These investments continue to work for you over time

so that you can generate cashflow

or perhaps through dividends or even appreciation.

I prefer to talk about a different kind

of passive income generation

which is done through the building of online businesses

that can continue to work for you over time,

not investing money into a buy and then hold

type of strategy but rather investing time upfront

to build something that solves people's problems

because that's exactly what a good business does.

The question is well,

how does that turn into passive income?

The solutions you build to solve these problems

can eventually become automated

either by the use of tools and software

or hiring other people to do that work for you.

Now, let's say for example that you had a website

and a resource to help people pass a particular exam.

Studying for and taking an exam

is something that is a big pain point for a lot of people

and many people are willing to pay for help for that.

Test takers find your website, they see that product,

they buy it, it automatically gets delivered to them

via email and you get money in your PayPal or bank account.

After you set it all up, your business and your resource

can continually help people at any time they find you

without you having to do any additional work.

Now, what I just described to you

is actually a business that I created myself back in 2008

to help people pass an exam in the architecture industry

called the LEED exam.

After getting laid off in 2008, I built this resource

'cause I knew a lot of people needed help with this exam.

I created a study guide to go along with it

and I sold my first copy in October of 2008

and have since sold tens of thousands of copies

and have generated over a million dollars

on that website alone.

Now, because of the nature of that product

and that exam and that space,

I haven't had the need to continually update it over time.

I do check in on it every once in a while

but it's been sitting there

and it still continues to generate thousands of dollars

a month for me without any additional work.

That online business is an asset for me

that is worth far more than any investment

I could have made in real estate or in the stock market

and what was that initial investment,

how much did it cost me to actually put that website up?

$6.95 a month for website hosting

and a ton of time and effort.

Now, if you'd like to see exactly how much this website made

and other businesses that I've created too,

I actually have an income report section on my blog

at smartpassiveincome.com

where I share just transparently everything

and everything I've done since 2008 to generate income,

where all that money comes from, the expenses, et cetera.

You can check it out if you'd like

and links will be below in the description.

Now, there's a lot of people that talk the talk

in this space and they talk the talk very well,

way better than I do but you know what?

I'm not a good talker but I am a good walker,

not like Walking Dead walker

but what I mean is I walk the walk.

I don't teach anything I haven't done before

and have proven myself and again, like I said,

everything is up there on smartpassiveincome.com

for you to see.

My goal is to make sure that I'm just a couple steps

ahead of you so that I can make sure

that trail is clear and safe for you up ahead.

So I'll be your trail guide.

Thank you for subscribing and sticking around.

Let's keep going here.

So passive income.

Maybe you sell a product online and you have it dropshipped

which means when people buy it from your website,

you don't even see the product.

You don't even have it in inventory.

It connects to a company that then ships that item

out to that customer for you.

Maybe you create a software product

that does a repetitive task

that people normally did by hand.

People will pay you monthly

to get access to those kinds of things.

Imagine, passive income coming from the same person

every single month.

You just have to continually get more customers in

and your income can grow over time.

The list goes on and on with different kinds

of online businesses and passive income opportunities

but let me tell you what.

Passive income isn't all that it's set out to be.

So let's talk about these three different

passive income myths and make sure you stick around

because the third one, most importantly,

is the one that is the difference

between it actually happening for you

or having it be an item

that just continues to sit on your wishlist.

Passive income myth number one.

100% passive income is real.

The set it and forget it approach sounds amazing.

You set it up once and forever and ever

you continually earn this residual income.

Is that even possible?

This is simply not true.

- [Announcer] Busted.

- All forms of passive income include some sort

of required upkeep including real estate and the market.

In fact, it's really dangerous to leave these investments

on their own without you checking in every once in a while

to make sure they're doing exactly what you want them to do.

You need to manage your portfolios, right,

and your rental property comes with wear and tear over time.

There is no such thing as 100% completely hands off

forever and ever and ever passive income

but you don't have to trade your time for money

one to one either.

You can invest time upfront

in something like an online business

and have it continually pay you back over time.

Although it's not 100% hands off,

passive income can give you that freedom and flexibility

with your time and that's huge.

To me, that's more important than the Lamborghinis

that you see and the giant mansions, right?

My wife and I, we walk our kids to school

every day together, we pick them up together

and that to me is something that you cannot pay for.

It comes with the kind of business you create

and that's where passive income becomes an amazing tool

for what it is that you wanna do.

The money, yeah, that could be a good thing

but the freedom and flexibility, that's where it's at.

Next up, passive income myth number two.

Creating passive income is easy.

So says the many people who teach this stuff

and I'm here to tell you the truth.

Passive income is not easy

and it's not something that can happen overnight.

- [Announcer] Busted.

- Sure, there are ways to make money sooner than later

but to build something that's long-term

that's gonna continually work for you over time

that will allow for that freedom and flexibility

like we talked about, that's gonna take some time

and it's not easy to create upfront.

Now, you know they say that you cannot predict the future

but one thing that I can predict

is if you continually do the same things you've been doing,

you're gonna continue to get the same results.

So although building a passive income business is not easy,

the truth is if you don't even try, it's never gonna happen.

The hard part is you have to just learn

how to talk to people.

A lot of people, when they try to build

these online businesses,

they try to hide behind their keyboards

and just kind of just sit behind the scenes.

No, if you wanna build something long-term,

a real actual real life business,

you have to go out there and actually talk to people

about their problems

and how you might be able to solve them.

You have to experiment and know that likely

you're gonna fail, you're gonna make mistakes,

you're gonna have to get up and keep going,

it's gonna be uncomfortable,

you're gonna feel bad and terrible about it but guess what?

Like I said, nothing's gonna change

unless you actually start taking action.

You have to put yourself out there.

You have to be vulnerable a little bit

and that's where most people stop.

Once things start to get a little hard,

people retreat back to what they were comfortable doing,

their nine to five job or just feeling complacent

versus where they know they should be

but they just won't take the action to get there.

You have to be comfortable with being uncomfortable

and that's just building the active part

of the business, right?

It's gonna be active work first.

There's no way that you can do this passively upfront

because it's gonna take work and time

and then over time, after you optimize,

after you understand your systems,

after you create procedures and such

then and only then can you find ways

to automate that process

to have tools do those things for you

or other people that you might hire.

Passive income is not easy and when you build a business,

it definitely doesn't start out passive, that's for sure.

Passive income myth number three and this is the big one

and when I hear people say this, it kills me

because really, the moment a person believes this

is the moment their opportunity dies

and it's when people say this.

Creating passive income is not possible.

It is not possible.

Henry Ford said, "whether you think you can,

"or you can't, you're right" and it's true

and if you think this thing called passive income

is just a myth, is something that is not possible,

well, then guess what?

This is not a myth for you, this is reality.

Passive income is not gonna work for you, it's not real.

That's a limiting belief though.

I know that because I know it's possible.

I've experienced it firsthand myself.

I've interviewed hundreds of people

on the Smart Passive Income podcast

who've experienced it themselves too

and not just teaching other people

how to build online businesses.

I mean, I know that's what you see

and obviously, you're here and I'm doing the same thing.

We hear those stories and we see those people

because we all wanna be seen but there's a lot of people

building passive income businesses right now

who don't even care to share what they're doing

and that's what that podcast is about.

It's finding those stories and bringing 'em out for you

so that you can understand that this stuff is possible

like Lain Ehmann who made six figures

in the scrapbooking industry or even my friend Cassidy

who built a six figure business

teaching people how to plant succulents.

She makes a living online

teaching people how to plant succulents, like plants.

Now, that's a business that doesn't succulent.

Why am I even trying?

So the myth that passive income is not possible.

- [Announcer] Busted.

- Make sure you check out some of the links below

in the description to even more interviews

with success stories that I've uncovered.

I get it though.

You've probably been duped by others before.

Maybe you invested in a program

and it just didn't deliver for you

or maybe you're seeing all these other people

teaching this online talking about,

I don't know, Lamborghinis and mansions

and all this kinda stuff and it just screams scam to you

and guess what, it screams that to me too

which is why I'm here

and you've made it to this point in the video

which says a lot about who you are

and who you think I might be for you.

Now, I don't expect you to become a fan overnight.

For me, I know it's gonna take a lot of wins,

small wins, little milestones along the way

for you to realize that this stuff can happen for you

and that this stuff is actually real.

Would love to invite you to subscribe to this channel

and join the rest of Team Flynn here

and make sure you hit that notification bell

when you subscribe so you get notified

when new videos come out.

Now, you have two things working in your favor right now.

Number one, a fact that I've already shown you

that passive income is possible.

Number two, you got me in your corner

and you got the rest of the community here as well.

So join Team Flynn, hit that Subscribe button.

Thank you so much and make sure you check out this video

that I'm pointing to right here in the card.

It'll walk you through three different kinds

of passive income business models

'cause not all businesses are shaped the same way

and not all business models are perfect for everyone.

So make sure you check out that video

because it's gonna show you which one

might be the best suited for you.

Now, before you go check out that video

or dive into the rest of my channel here,

I would love for you to leave a comment below.

First of all, hook me up with a thumbs up.

If you like this video, thank you so much for that

and leave a comment below and let me know

what videos you want me to create next.

I wanna source my content directly from you.

That's how I can be the most helpful.

So help me help you.

Let me know in the comment section below

what topics and videos you want me to cover next.

I'm gonna be in there

and that's exactly where I'm gonna create videos from.

So thank you so much.

I appreciate you subscribing to the channel

and hey, Team Flynn for the win.

We got this.

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Cheers, bye for now.