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EXPOSED: The Passive Income Myth — 6 Things They Never Told You
Ahh passive income, the holy grail. Click a few buttons and sip pinna collides all day? Not so fast. In fact, If you don’t get what I’ll share with you in this short video, you’re in for a rough ride. Here is the dirty truth when it comes to making passive income. Got what it takes? Here are 6 things no one told me before pursuing passive income that I wasn’t expecting. Making this video to dispel some of the bullshit floating around out there about it — what to REALLY expect if you’re committed to making money online.
Hey refusers, Clark from refusingtosettle.com. I’ve been online since 2011. Read 4HWW obsessed with leveraging power of the internet. Dreams and learning about millionaires. Clicking buttons checking in internet cafes. Sounded like my lifestyle. Then I tried it…. MUCH harder than I thought. Fast forward to now, fluctuates but make average of $6,000 month online, (some months $12k others $3k) most considered passive. What I want to share with you in this video. No bullshit about passive income.
Disclaimer: niche I am in: SOLO Entrepreneur — digital content marketing: blogging, podcasting, video, online courses, email marketing, publishing, SEO, etc. Other kinds (I won’t touch on in this video): real estate, stocks, businesses, drop shipping, amazon FBA, etc.
1. Takes TONS of Active Effort to Set Up
i.e. have an online course — took me 40 hours x week for 4 months to set up. Took me five years to amass a following to sell it to. Took me five years and thousands of hours to develop the skills to talk about content. Took me hundreds of videos to get credibility.
YES. It takes WORK. It’s worth it in the end:
Possibility. Scaleability. Flywheel.
i.e. sell $47 prod at 3% to list of 3k built up over 12 mo = 90 sales ($4,230)
i.e. sell $47 prod at 3% to list of 30k built up over 24 mo = 900 sales ($42,300)
i.e. sell $47 prod at 3% to list of 300k built up over 60 mo = 9,000 sales ($423,000)
2. Takes Active Maintenance
i.e. My YT channel here — if I don’t post video? not as many sales, not as fast of growth, in 2017 NEED to stay relevant.
Your constant content is like heart beat contracting — circulates existing blood throughout body.
3. Takes A FUCK LOAD of Patience
Long term game. Most books trying to tell you otherwise.
4. Takes A Brand — Differentiation
You can type on a keyboard… so can EVERYONE else!
what makes you different? In 2017 — it takes a BRAND not just content. i.e. self-help space — no degree, no credentials, high burnout. Everyone can talk about these motivational ideas. Everyone knows a “life coach” — how many people use them?
5. Takes Adaptation
Cell phone from 2005 — would still work…. not well.
Need to constantly update you model.i.e. Facebook ads. Instagram platform. Snapchat. These things evolve. Can’t escape the change, you will ALWAYS be in this.
6. Bonus: Don’t Write off Active Income
i.e. coaching and consulting — not passive. It’s hourly. I love it.
Stop settling start living
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How to Get Rich Series ► https://goo.gl/Q7wbc5
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✖︎ MY PRODUCTS & COURSES
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The Ultimate Guide to Keeping A Journal ► http://www.mybestjournal.com
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Gear & Resources I Recommend ► https://goo.gl/FGmQUU
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✖︎ WANT TO BE COACHED BY ME?
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Income statements made by this video are ONLY estimates only of what we think you can possibly earn. There is no guarantee that you will make these levels of income and you accept the risk that the earnings and income statements differ by individual.
R E F U S E R S !!! Man does it feel GREAT to be back. Working super hard to bring you the BEST content. I want to step up everything we've been doing on this channel to that next level for you. Just put a new FREE training together for you.Enjoy :) Refusers! Thanks for the awesome support on this video. Ready for some FREE stuff? Choose your own adventure :) ▸ FREE COURSE: Discover The 10 BEST Ways to Make Passive Income Online (Even If You're A Complete Beginner) | https://passiveincomekingdom.com
p.s. Feel free to drop a comment with what YOU want to see on this channel! I draw a TON of inspiration from your suggestions, questions, and comments.
p.p.s. Here are some resources for you:
// BEST COURSES
▸ (FREE Course) Passive Income | http://passiveincomekingdom.com
▸ Courses That Crush | http://coursesthatcrush.com/go
▸ Video Breakthrough Academy | https://myvideobreakthrough.com
▸ Backstage Studio | https://mybackstagestudio.com
▸ My Best Journal 2.0 | http://mybestjournal.com
▸ 30-Day Coaching | https://my30DayCoaching.com
▸ Shopify Dropshipping Course | https://tinyurl.com/y8zoft8t
▸ Amazon FBA Course | https://tinyurl.com/y7q6yc9u
▸ Facebook Ads Course | https://tinyurl.com/y9gmbz5a
▸ Affiliate Marketing Course | https://bit.ly/2Qfuykr
// R E S O U R C E S
▸ Ultimate Online Business Resource Guide | https://bit.ly/2DYmFZk
▸ ULTIMATE YouTube Gear Guide | https://bit.ly/2KUQjQl
▸ FREE Audiobook with Audible | https://bit.ly/2PiF3Og (affiliate)
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// F O L L O W
▸ instagram | @refusingtosettle
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▸ facebook group 01 | https://goo.gl/wsNnwu
▸ facebook group 02 | https://bit.ly/2t2fDeW
▸ spotify mix | https://tinyurl.com/yazfeujt
▸ twitter | @clarkdangerous
// P L A Y L I S T S
▸ Best of RTS Playlist | https://goo.gl/5Spvy6
▸ Create Your First Online Course | https://tinyurl.com/y7kmqg5j
▸ Start Your YouTube Channel | https://tinyurl.com/y7luepzx
▸ Money Monday Series | https://goo.gl/7mMxgL
//D I S C L A I M E R
Disclaimer: Please always check with a professional before making any moves with your money. These videos are for educational purposes only. No official financial advice is being given. Never listen to anyone online who tells you to not check with a professional! This description contains affiliate links. If you decide to purchase a product through one of them, I will receive a small commission.
True! My passive income business gave me less than 3$ first month! That was a very important note to me -the system works! The beginning is always hard but once you get your first income you need to focus on two things:
1)keeping your work ongoing
Finally, some good avice! This is in reference to mentioning keeping a part-time job while working on a business full time. Twice, I failed running a business because I was not able to have a sustainable source of income over a 3 month period.
It did not matter if I was working 60-80 hour work weeks, if there are things you aren't aware of, you may be destined for failure before you even start and no amount of faith or effort will help you "in the short run"
I'm not saying it's not possible, because it is if you have the intelligence and the know how to get shit done. Unfortunately, that "common sense" knowledge comes with years of failures you must endure to become successful.
It's a journey that I'm proud to have endured, and excited about taking on again, but I won't be diving off a cliff without a parachute for a very long time now. I've learned my lesson.
I wish someone told me taking a p/t job was OK. Take that advice people. Don't burn up your life savings and get into thousands of dollars in debt just because you "believe in your passion"
Good luck people
Describing these myths provides a great perspective. My attempts at passive income haven't generated results as quickly as I had hoped. Knowing that is part of the process is a big help and great motivation to keep trying. Thank-you Clark!
Hi Clark, great content. Yes, you've got to start somewhere and starting small is the best place to start.
Don't sacrifice the steady income, use your time and build a second stream of income.
Soon enough the second stream of income will be more than the day job if you stick with it.
Then you can sack the boss, quit the 9-5 job, and create a another stream of income.
Leverage and outsource is key to creating a lifestyle income producing business.
Hope you agree..
Thank you very much Clark! I hope to follow sort of in your footsteps! I want to be an entrepreneur, while shedding knowledge on life I want to help people recognize their own abilities and discover what they can do if they take the right avenues in life and plan ahead.
I really enjoy your videos Clark. Very good information and your presentation style comes across as authentic and the willingness to help others achieve their goals. I came across you about two months and look forward to your information and love the book reviews too.
haha burn the ships!!! well hold on now!!!, thanks dude! you just boosted my motivation, I feel like I am doing it all wrong, i have two websites, but i feel that is either too much, or not enough, I am just flying by the seat of my pants. I have only earned $5 from passive income from affiliate links. but I feel it will pay off ! thank you for sharing your story!
I think if more people were transparent and realistic the passive income would be part of the whole business model, but I think tit gets lost in using passive income as the only model, at least full time. I loved this video. The long game as they say, but if you are passionate about self growth alongside Business growth there are huge benefits as well as income by taking your time, but being active and passive as you do it.
Yes...Finally. This is what I was looking for. Thanks for the video. The clarity and honesty. I subbed because of this video. I have been think in the sector of passive income and you just made things clearer. Anyone thinking of passive income must watch this FIRST. :))
This is absolutely brilliant advice that I really needed to hear. It's so so easy to get disillisuioned by everything I read and watch on how to build an online business and make a passive income. Thank you so much for sharing the knowledge that you've gained over the years. It's so valuable. Thank you.
Great information bro, totally agree with you. A passive income strategy does take a lot of work in the beginning. And building wealth through passive income definately takes patience. And don't quit your day job right away until you're making enough to live off your passive income, yes.
This video helped me a lot! I've had an online passive income business for about 3 years now and I stressed out so much because I felt I wasn't doing enough because others who started at the same time as I did were making more than I was. But I am a lifer so I'm going to do this until my fingers can't type anymore, so I guess my time will come.
I'm following because of your presence and your manner. I want to support you in your efforts. We are on different paths, but everything you have said is true.
And, I look forward to working with you sometime in the future.
Im glad someone made this video, too many videos out there that don't let you in on the hardships that come with building a passive income system. I've been working a little less than a year on a system and honestly, there have been way too many times it has seemed futile and i've wanted to give up.
The mountain is high most never reach the top......
You're spot on we've got to think long game!!!
Whatever success you have is because you've trained long and hard hours. Most only see the glory but not the sweat, not the hardships, not the hours of re writes....
I received a lot of value just from reading your intro section!
I stopped the video at 20 seconds so that I could read your intro section. Now I'm going to listen to it and focus on your voice. This is the definite honest truth about building passive income. I have had a passive income company for nine years and I still have to work at it. This is the real truth. Thank you!
What are your thoughts on selling on Amazon? All these videos on YouTube about people saying they made tons of money but then end their video by promoting an expensive course. It's pretty scary. Do you have any advise on that subject by chance?
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