The Magic of Passive Income
It’s Closer Than You Think
For years you have heard me talk about financial freedom and passive income. Today we’d like to discuss the differences between those two and some common misconceptions about passive income, and we’d like to give you the opportunity to start building on your financial freedom and generate some passive income.
Think about this for a minute: you cannot be financially free without passive income, but you can generate passive income and still not be financially free. The two concepts are very closely related and they both serve to accommodate your ideal lifestyle. To say it simply, when you are financially free you can work because you want to, not because you have to. Generating passive income means that you don’t work directly for the money that’s coming in. The terms are often used interchangeably but I want to stress that there should be a definite distinction because generating passive income does not necessarily mean that you are financially free. However, it is the first step. Generating enough passive income could mean that you are financially free.
Financial freedom is the overarching concept that passive income falls under, but to be financially free, you will also need to have a high financial IQ, an ability to budget well and to be conscious of your spending.
Passive income, on the other hand, is simply the ability to generate an income without that income requiring your immediate attention.
Passive Income Myths Busted
- Generating passive income means I’ll never have to work again
Passive income is a process and by no means a secure income. The world changes, people change and their demand changes. Setting up one passive income stream doesn’t guarantee that you will have a steady income for the rest of your life. It will, however, allow you to replace some or all of your current active income, freeing up your time to do other things.
- Generating passive income is easy
Passive income is a process and you have to choose to go into it. Not every idea will work and you might have to spend some time to find the right income stream for you and your business. However, once you’ve reached a tipping point, things will get much easier.
- I’ll be able to build passive income by working 4 hours a week right out of the gate
When you want to build a house, do you build it by putting down a stone a day? No, because by the time you get to the last stone, the first one will have crumbled. We meet a lot of people who have read books written by people who have achieved a very enviable lifestyle, working very little and enjoying their income streams. However, they forget to read that these people worked their a** off for two years, 60-80 hours a week, just to be able to enjoy 4 hours a week now. Only if you are willing to make that sacrifice, is it possible to attain this lifestyle.
- If I decide to start building passive income it will happen tomorrow
This whole series of misconceptions is really about one thing: people seem to think that if they decide they want Passive Income that it will happen magically tomorrow. You have to understand that building this kind of income and lifestyle is a process that will require work and sacrifice. It goes slowly, maybe 5% of your income could be passive in the first year, then 20% and you keep building and increasing your financial IQ and then in a few years you could be financially free. If you’re willing to put in all of that effort and work, you will be richly rewarded.
I can hear you thinking right now: ‘if it’s such hard work and if takes those kinds of sacrifices, why do I want it, and why should it be a part of building my business and income?’
For the simple reason that the rewards far outweigh the costs. You don’t have to be the insane guy who works himself financially free within two years. If you take a little more time you can build sustainably and without a burnout at the end of it. Just imagine what the outcome could be: you free up more and more time to do what you love, or to scale your business. You’re not just building an income. You’re building free time. Truly free, because you get to spend it however you like. With your family and friends, traveling around the world, or maybe simply on the couch with a nice novel every once in a while. However you like to fill in that time, you can, without feeling guilty about it. Without constantly having to think that you’re losing money by not working.
Whatever your reason is to become financially free, or to build passive income, make sure you have it clear in your mind. Set a goal and work towards it. If you want to know more about financial freedom, check out the Financial IQ course on BizKaizen.
Why do you want to become financially free? Let us know in the comments below!
Passive Income for You
Today we are very happy to announce that the monthly subscriptions to BizKaizen are out! This means you can start to enjoy all of the content that Open Circles has made over the last six years, for the price of a cup of coffee a week. However, there’s another opportunity that we want to give you. If you decide right now to pay for the whole year in one go, you get a nice discount, and can still get the friendlink!
With the friendlink, you will be able to share your love of our content with others, help them to grow their business, and make money in the process. So how does it work? It’s very simple.
You will receive a unique link with your account. You can use this link to direct your network to the platform so they can sign up too. When your friends land on our page using your link and when they sign up, you will receive 25% of what they’ve paid us. Every single month. It’s not just a one-time payout, you will keep getting paid as long as your friends stay. This means that you only need 5 friends to get the platform for free!
And if you find a way to get more than 1,000 members sign up, your earnings double to 50%! It does not need to be your friends only, it can be also bigger organizations which need to have a wide support that our material can provide. Be creative!
In addition, we will provide you with everything you need to be super effective. You will receive a branding kit with our colors and fonts, as well as a document with advertising copy for you to use on your facebook page and website. If there’s anything else that you need, you can always send us an email and we’ll see if we can accommodate your request.
The best part of all this is that this advertising material has all been tested by us, and we’re only giving you what we know has worked before. Of course, you may want to experiment further because our target audience is not necessarily the same as yours, and what has worked for us may not work for you. We’re giving you a head start though! So get creative and who knows, you might collect your first passive income payment from the BizKaizen platform as early as next month.
Lastly, we will help your friends even more. We will make absolutely sure that they get the best possible deal to access the platform
In a nutshell:
1. Your friends get the best deal via your link
2. We make more income with little effort/cost
3. You earn up to 50% in recurring passive income
Perfect Win-Win-Win, right?!
Why extend this benefit beyond the lifetime memberships?
- We are committed to sharing wealth and helping people to become financially free.
- I have never seen any company saying, get all my tested visuals and copy, use it and get 25% of the revenues, and we believe you deserve it!
- We were absolutely flooded with requests to keep the friendlink open for monthly members. As you know we’re committed to providing you with what you need!
To your success,