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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.

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Here’s the link to the Book Passive Income Millionaire —