Don't Make These Passive Income Mistakes
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- Опубликовано: 8 сен 2024
- In Part 2 of this Passive Income Series, We Explore the Common Mistakes People Make When Coming Up With Passive Income Ideas.
Hey everyone! After reading 100+ books on business and personal development, I wrote a book on the most important concepts when it comes to creating a business and becoming your best self. Go here to learn more: www.learningre...
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Great video. I totally agree with being passionate with whatever you're doing to generate passive income, but I wouldn't fully agree with dedicating everything to just one stream. I would use the 80/20 rule and focus 80% on what works while experimenting with the other 20% on things I'm also passionate at, that could potentially become a better stream than my current main. It's also good to have a backup plan incase something happens beyond your control, like RUclips changing it's algorithms, or worst case shutting down.I had a friend who had 1000s of followers on the Blab platform and making lots there, and just a few days ago, all his work was gone.
Yeah, I guess we gotta use our judgement to when to stick one one thing and when to experiment with a few. Kinda like an idea versus skill tradeoff. Sometimes we could be very successful with something that doesn't particularly require much skill but the idea is awesome (Like the ketchup girl videos).
NIce video again dude. But I don't fully agree with you. I think its far more important to have different income sources than to depend only on one. I think you should use the resources (contacts, money etc) from existing source to constantly create other sources of income and keep doing that until that process becomes exponential! Nice stuff anyway keep them coming!
Thanks man, Yeah that totally works, I agree with you. I guess I wasn't clear in the video, I just meant to not start many different passive income systems. Going a step further would be like you said, to create a whole matrix around your initial business, kinda like how google does right? Once they got the search engine down, they started making google docs, gmail, andriod phones,.
Yeah, exactly. Even if the search engine fails for some reason ( dont think that will happen any time soon ) They have so much other stuff, android, self driving cars, maps, mails, youtube.
Absolutely Correct!! I second you! This is what I call intellectual interpretation..! Great One!
Thanks! :)))))
Sharing this one all over the place! Great Principle and Video!
Thanks so much! I'm glad you like it!
Great tip, focus is so important, but I think having to work on two things in the same area will work great
I love your style! I really enjoy your first concept... you have to love the work you're getting into! Keep up the awesome work!
Thanks dudeee :p
Hey, how r u doing? I like your videos so much. I really enjoy watching and learning through your videos.
I have a personal question for you. How do you read books first of all, and do you prefer to read multiple books at a time or stick to one book until it completes.
In your preferred case how long you take to completely read and absorb the whole idea of a book.
Any suggestions are highly appreciated.
I've watched all of your videos and it really does helps and doesn't bores like other videos keep it up ✌😃
Hey I am progressing! Also the channel is growing! You are ranked very well on passive income, I am not even listed in 30 pages of search results. :) haha but I am coming in hot!
Thanks passive income dude!
That's okay, I learned that getting ranking for one video means nothing if we don't have a bunch of other high quality videos. So it's about improving on content, noticing what works and what doesn't and making the future videos better. :))
great video...however the argument with the $100 dollars seems more like a luxury problem. you could scale it up and have someone collect it. anyway you need passive income to focus on your next moves, so also the 100 bucks. right?
Thanks passive income dude! Yeah, you can probably do that. There's just probably a point where you're too focused on your main priority to want to manage the person who manages the person who manages the person who collects the money from your chair, unless you make your living from the 1 million massage chairs.
Baseballs: Because pokeballs are overrated xD
OnePercentBetter what a clever way of avoiding copyright issues lol
Would you know any books that could help you define your passion?
I can't think of anything specific at the moment, but you can write down a list of things you are interested in, and then in another column, write down how you can make money with that interest.
On the contrary, you can also write a list of things you are good at, and then do the same in the second column, and then circle the ones you would be interested in spending a lot of your time on.
Hope that helps!
-Jason
once again... great work bro ☺
well explained to the point😃
Thanks Ravi!
once again... great work bro :)
Some very good advice!
Thanks Fiveminded :)
best advice dude
thanks njeri :)!
1:11 dude kids are watching this!!!!
Hahahha!
Great video!
Thanks :D
I'm confused. Are you saying that we should not make a gaming channel but instead do something like get better at making businesses. Or are you saying to do what we're passionate about. I'm sorry if my question is dumb. I'm just a bit confused
Hey Gabe!, when I used the gaming channel example in the video, I was saying that we should work on getting better at what we were "already" doing instead of starting something new, so I shouldn't start a gaming channel, but you can, and it will be successful as long as you have something valuable to offer your viewers. (for example, if you are very good at the game, you can offer strategies, or you can offer entertainment with your personality) The latter is probably better since you are not restricted to one particular game. Hope that clarified your question!! :)
-J
Cool video! :)
Hi, can you teach me how to draw like that? Thanks!
Haha, sure !
What kind of pc and or video card and programs do I need to get first?
I also want to know that
This argument is only relevant to those who constantly dive into new investments to the point where they have too many income sources. Yes, too many income sources can bog you down. Some people have a set goal of income , which requires few easily managed investments to obtain. These investments will never become "pointless to spend 2 hours on, " because 2 hours would not be a burden. For me, all I'm aiming for is 4-5,000 in passive income. 2-4 Real estate properties (multi-family) are all I really aim to have, and I'm perfectly fine with that. I won't ever get to the point where those are not worth the effort to maintain. Also, property managers can handle a large portion of the work that arises from renting property. There still would be work to do, but not nearly as much.
If you make your hobby your job, some day is gonna become boring after all.
True, I guess there is a tradeoff.
:))
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