Thinking of passive income you often tend to see people that earn thousands of dollars with only a few hours of effort each week.
Or at least people that are trying to tell you they do.
Everybody wants to get more money with lesser work - if it would be that easy why isn’t everyone you know becoming rich by his new business?
Anyway. I would not say that’s impossible to generate a source of income that creates a constant flow of money with like 4 hours a week.
(Did you read the „4 Hour Work Week“ by Ferris?)
But it is hard, you need to have at least five things to do it:
- A good idea
- The will do get started
- A LOT of effort
- The will to keep going
- A bit of luck
So what’s realistic?
To my mind you shouldn’t just quit your job, sit back and begin thinking of how to generate a passive income.
(Even though you MAY have a one million dollar idea.)
Also you shouldn’t continue to just think, to just keep on dreaming. Waiting for something to happen will not get you anywhere.
(Your idea has to be good, not perfect.)
So I told you, what you should not do - now I am telling you, what you should do.
You should start as fast as possible, start small, start lean.
If you begin starting your own business, only investing a few dollars and some time.
Maybe one or two evenings that you would have watched Netflix or a Sunday morning in bed, surfing on facebook.
Do it beside your regular job as like a hobby.
Maybe you fail once, or twice, or more often. - But you get experience, you get momentum and if it works out for you - you can begin to scale it bigger, to make it more perfect.
If you do not try, you can only lose.
