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How can I create Passive Income? From the #1 Passive Income Coach

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How can I create Passive income? From the #1 Passive Income Coach

How do I create passive income streams?

What is a good Passive Income Stream?

Can I become Financially Free through Passive Income?

Where do I start in creating Passive Income?

Many people don’t create their financial freedom through passive income because they think it’s complex and you need a special kind of smarts. Like anything else in life passive income can be learned and it’s actually a lot easier to do than most people think . Generally speaking people make simple things complex because of fear. Don’t let fear keep you from your freedom. Just because you haven’t done something before doesn’t mean you can’t do it.

And do it you must if you want to become financial free. Now passive Income isn’t always what you are told. It doesn’t necessarily mean living on the beach, driving the fancy car and travelling around the world. It could mean that. But that’s a choice. What it means more than anything is that you STOP trading your time, efforts, freedom and inspiration for money. You no longer have to make the exchange. And those things: time, effort, freeomd and inspiration become yours again. So quite frankly I think that’s bigger than the beach, a car or travel. You can don those things — but the really is you can do anything you like.

The formula for creating Pasive Income is relatively simple. It can be done online or offline. Typically it is done in one of the follloing five categories:

  1. Business
  2. Real Estate
  3. Investment
  4. Intellectual Property
  5. Leveraging networks and relaitonships

In a future article I will share some specific ideas and strategies in each of these areas. for today I want to unfold for you the simple Passive Income Equation. This is the equation of what you will need to hasve in place in order to produce passive income.

It looks like this:

Asset/service + Customer Transaction + Vehicle = Passive Income

Let me share a little bit about each one. If you want to learn more about this head over to my blog, social media or grab my book for $5 bucks. (Link at the bottom of the article.)

Asset/Service — This is what you are going to be providing to the cusotmer. Naturally to create passive income you need to have something to sell. You will either sell a physical asset (product) or a service.

The asset or service must either solve a problem or fill a need. We’ll get into more on this later.

When it comes to passive income the asset must be something that can be shared with out you present and I’ll get more into that as I talk about vehicles. And if its a service it must be delegated to the service provider. Again this needs to be done without your involvement — and I’m just getting to that.

Customer Transaction — Naturally this is the goal of the process. How do you get people to buy something. In the future we’ll tlak more about how you are going to do this from a psychology point of view. But for todays purposes I am simply going to point out that you need to develop the correct transaction for your customer. Which means how much is the product or service? What are they really going to get? And what kind of customer are you aiming at?

Most people only have one kind of product available for a customer and as a result lose a lot of sales. There are two kinds of transactions you will want to consider for your cusotmers. I call it Math and Diamonds.

Math focuses on quantity and the product is generally inexpensive.

Diamond focuses on quality and is generally more expensive.

I advise my students to have both as there will be people who want to fast track their solution and they’ll pay more for the support and quality. But you’ll also have a large number, who until they know you, may not be willig to make a big investment.

Vehicle — Is the method of delivery. How will you share the asset or service with the cusotmer. This is where most people fail in creating passive income. They create an income stream — but it’s not passive.

This vehcile can be create offline or online. But it. needs to be a system where you are not involved in the delivered or exchange and money is collected without you present. You must find a way to replace you.

If you are a cog in the wheel you become a clog in the wheel.

In passive income you will often put in significant effort and work at this stage. But you do it only once and get paid forever. Most people don’t understand that even passive income will require occassional maintenance to keep the vehicle operating effectively. So be prepared to check in occassionally on this.

 #1passiveincomecoach #douglasvermeeren #passiveincome #passiveincomemillionaire #passiveincomemillionairebook #1wealthcoach #passiveincomeforever

Here’s the link to the Book Passive Income Millionaire — www.PassiveIncomeMillionaireBook.com

Opportunities for Passive Income are Everywhere – #1 Passive income Coach, Douglas Vermeeren

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Douglas Vermeeren #1 Passive Income Coach

Opportunities to create passive income are everywhere. And despite what everyone is talking about they are not just on the internet. There are some good ones there — but there are lots of good ones offline too. With Passive Income opportunities everywhere your freedom is everywhere too. The problem that I have noticed with most people is that they think about how they can create income streams and so they never do. And even many who think about it don’t take action. You claim a passive income lifestyle you must claim a passive income stream.

By the way Here’s a list of more than 75 palces you could even get started right now:

Youtube videos.

Youtube tutorials

Ebook

Online courses

Digital products

Resell

White label

Dropship

Sell as an affiliate

Rent real estate

Rent parking spaces

Rent storage units or space

Blogging

Sponsorships for you

Specialty affilaite marketing

On-line courses

Flip real estate

Flip businesses

Direct work to others

Complete services through Virtual assistants

Payment for you promoting others

Smart phone Apps

Loaning money

Kindle publishing

Sell your the fruits of skills (Istock, Getty etc.)

Subscription

Membership sites

Buy a cash flowing company

License your idea

License your business

Write a book

Fulfillment by amazon

Dividend paying stocks

Partner with other skilled people

Collaborate with others

Consult for results

ATM machines

Collaboration or partner

Resell the efforts of others

Introduction services

Amazon affiliate

Host a review site

Gather affiliates to sell your iP

Join a MLM

Sleep studies

REIT

Open a rental company

Open a batting cage

Buy laundromat

Video games

Buy a car wash

Vending machines

Rent your car for ad space

Downloadable audios

Franchise

eBay store

Peer to peer lending

Online investing

Rent a room in your house

Rent your garage as storage

Generate and sell leads

Become a silent partner

Buy Royalty producing IP — Music, images, art etc.

Buy and sell domain names

Get paid to have an app on your phone

Advertising sales on your website or blog

Sponsorships

Get paid as a social media influencer

Create a referral business

Learn outsourcing

Guide websites (ad revenue or guest blogging)

Compile and sell public domain content

License your ideas

Partner your ideas

Obtain and sell IP from others

#1passiveincomecoach #passiveincome #passiveincomelifestyle #douglasvermeeren #passiveincomemillionairebook #passiveincomemillionaire

Calgary Entrepreneurs – Entrepreneur Academy event November 3

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Entrepreneur Success formula poster

Entrepreneur Academy Lesson 3 – Wha tis purpose?

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Entrepreneur Lesson 3 — Are you on purpose and what then heck does that mean?

Too often when we talk about purpose and passion entpreneurs talk about their purpose and their passion. I think that is partially off target. If you want to create entpreneurial success you have got to realize that you business must overlap the passion and purposes of your clients. In fact, that may actually be more important. In other words, being on purpose literally includes having a purpose that others can find valuable.

Recently I was meeting with one of my mentors and peers over lunch. He worth several hundred million dollars (500+) and one of his enterprises is that he owns a public storgage facility. When I asked him about building a business in area that he is passionate about he confessed that sometimes purpose and functionality far exceeds passion. And as we talked about the idea of purpose he expressed that so much of his business success is based on serving the purposes of his customers. Now let’s be honest. Public storage is most likely not listed among your most signifcant purposes — so that raises a question as to what is a true purpose that people are willing to pay for?

Obvioulsy ou’ve already heard how you need to solve a problem for your client. The purpose will be attached to a problem. But I think most people are not truly aware of their problems or their purpose.

Can I make a suggestion that was made to me and has been a source of high profit? Too many entpreneurs look for big purpose and dramatic ways to met those desires. As a result they often miss the mark. Start simple. Look at an actually day and what you do in that day. What are the more basic problems that need solving — find that and you will find a valuable purpose that the masses will pay for. The main purpose for most people is simply to have an easier day. Don’t make it complex. Make it practical and straigth forward.

As I have interviewed and research more than 400 of the worlds top achievers that how the majority of them built their wealth.

Entrepreneur Lesson 2 – Not all work is created equal

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Entrepreneur Academy Douglas Vermeeren 2

Entrepreneur Lesson 2 - Not all work is created equal

You’ve heard it a million times - Work Smarter not harder. The problem is most people think they are already working as smartly as they can. You’ve also heard the cry to take MASSIVE ACTION and that those who take action will win today! Partly true. When you put these two concepts together you will see that taking deliberate massive action is actually what you what. I don’t want you tell you to get busy I want you to get productive. There’s a massive difference.

Aside from the from the importance of understanding that not all work is created equal it is essential that you understand there are two kinds of work. 1) Functional work

2)Vital work

I  am indebted to my friend Daniel Priestly who uses these terms.

Functional work can be best described as work that must get done to make your company work. Systems, processes and procedures that gets your product or service into the hands of your customers. Most of the time this work can and should be delegated or outsourced. Many entrepreneurs stay broke because they remain as workers or technicians within their businesses doing this kind of thing. Often its very time consuming and keeps you from the more important work.

Which is the vital work:

Vital work is best described as the life force and the irreplaceable part of your business. You are the leadership behind the company and lead its purpose. You do so with power, purpose and passion. Your work and actions are deliberate and focused on guiding the business to growth, profit and reputation.

While both kinds of this work are essential to business success the best entrepreneurs understand that you need to delegate as much of the functional work as you can effectively do. And your time needs to be spent more in the vital work areas. As you move to higher levels of irreplaceability and creating a better experience for those in your company and those who do business with your company you will see everything expand.

Too many entrepreneurs forget that one of the key definitions of entrepreneur is to be a visionary. You can create a lead a vision if you are lost in too many functional tasks.

Douglas Vermeeren is the founder of the Entrepreneur Academy. After interviewing more than 400 of the worlds top achievers he has become known as the Modern Day Napoleon HIll. Many of these top achievers are now faculty members at the Entrepreneur Academy and can help you grow your business to higher and more profitable levels. http://www.TheEntrepreneurAcademy.co

Are you waiting for perfection? Personal Power Mastery Minute by Douglas Vermeeren

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Douglas Vermeeren Personal Power MAstery 194

Too often people in life and business wait for everything to be just right before they get started. As a result they do nothing. You can’t wait for perfection. You must start with what you have and start where you are. You can always make adjustments once you have momentum. Even the most successful platforms in the world today are constantly making adjustments and improvements. (Think of how often your computer asks you to update for an example.) Don’t wait until you have things perfect, get started with something that is functional. #douglasvermeeren #personalpowermastery #PPM #entrepreneuracademy #entreprenurs #businessleaders #entrepreneurmindset

Are you bold enough for success? Personal Power Mastery minute by Douglas Vermeeren

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Success comes to those who pursue it with boldness. You can’t hesitate and hold back and expect big things to happen in your life. Excuses and hesitation rob more people of success than strategies or understanding. Performance and action are what make things happen. Just thinking alone with not open the doors. You need to open it yourself and walk through boldly. #douglasvermeeren #personalpowermastery #ppm #acheivement #success #personaldevelopment #successquotes

Douglas Vermeeren Personal Power Mastery 191