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The TRUTH About Passive Income (3 Myths BUSTED!)

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Published on Mar 12, 2018

How passive can passive income REALLY be? Is it even possible, or is all the talk just - well...all talk? There are lots of people teaching how to make passive income these days, and in this video I uncover 3 myths so that you can learn the truth behind them, better equip yourself so that you cannot be over-sold by the hype, and understand really what's possible.

There are a lot of different definitions of passive income. Earning money without additional work is possible in areas such as rental property and investments made in the stock market, however even those aren't truly passive.

And all of it requires some soft of initial investment.

With that said, I prefer to create a different kinds of passive income stream that can become an even stronger asset in your income portfolio: creating an online business.

The initial monetary investment to get an online business up and running is much less (relatively speaking) for considerably much higher potential return. I've been building online businesses since 2008, and initially I had just spent $6.95/month to get a website up and running.

Where a lot of people fail when building online businesses is in the investment not of money, but of TIME. Time, patience and also hustle and hard work are required to find a problem and build a solution to solve that problem.

At the core: all good businesses solve a problem.

And even then, it's not going to be passive at the start. It's going to be VERY active to get everything up and running, and only when you learn how to create systems, and/or build a team to make those systems work for you, then you can begin to see some passive income.

If you're interested, I recommend you watch my video about 3 different passive income models that you can choose from:

https://www.youtube.com/watch?v=X_b-b...

Other links and resources mentioned in this video:

THE SMART PASSIVE INCOME PODCAST (Subscribe Below)

iTunes: http://www.smartpassiveincome.com/itunes

Stitcher: http://www.smartpassiveincome.com/sti...

Blog: http://www.smartpassiveincome.com

SPECIFIC EPISODES WHERE PEOPLE ARE MAKING PASSIVE INCOME:

Episode 37 with Lain Ehmann (Scrapbooking): http://www.smartpassiveincome.com/ses...

Episode 283 with Cassidy Tuttle (Succulents): http://www.smartpassiveincome.com/ses...

Episode 122 with Shane and Jocelyn Sams (Football Coaching and a Librarian Resource): http://www.smartpassiveincome.com/ses...

Episode 152 with Cole Joseph (Photography): http://www.smartpassiveincome.com/ses...

Episode 165 with Susan Petersen (Moccasins): http://www.smartpassiveincome.com/ses...

Episode 299 with Mykou and Touger Thao (Language for Babies): http://www.smartpassiveincome.com/ses...

Episode 237 with Lauren from Girly Knits (Knitting): http://www.smartpassiveincome.com/ses...

And there's a lot more where that came from. Please subscribe to the YouTube channel if you haven't already for more tips to help you start an online business and build your first passive income stream (after building an active one, first).

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Subscribe to this YouTube channel:

http://www.youtube.com/subscription_c...

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Want to learn more about the smart way to make money online and start a successful online passive income business (without ripping people off or being dishonest)? Then make sure to visit the Smart Passive Income getting started page below:

http://www.smartpassiveincome.com/pas...

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New and updated: "Podcast Marketing in 2020 (Top 5 Podcasting Tips that Get More Downloads and Subscribers)"
https://www.youtube.com/watch?v=Y2nUb...
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