I have a test that you can take called the Money Test, which will
answer that question for you. One of the things that I always ask
people to consider in that test is what assets do you already have in
place, meaning do you have something that's already created that
can be systematized to turn into passive income.
Do you have any kind of skill sets that you already have, that could
be packaged in such a way that could turn into passive income. Or
do you have partners or people in your network that you can
leverage to gain immediate success in those areas. You start
looking at the things that are in your life right now. That will give
you the idea of where you need to start now.
I use the word start deliberately because I don't want you to think
that you just need to start. I'm am suggesting you need to build up
to eventually have something in each of those five areas.
I do I make money in business regularly in real estate investment, intellectual property, and also through my network. And
eventually you will too and there will be some of those that may of overlap.
So to answer your question, there is another wa, which is kind of fun, because you hear a lot of gurus say "if you want to be
successful life,you've got to find your passion and your purpose." I'm here to tell you that that's kind of selfish. And even contrary
to what you heard before. But the truth is that if you're just looking out for #1, you're going to be a lonely greedy person. So what
you need to do is instead of finding your passion and purpose, you will need to also find where your passion and purpose overlaps
with the passion and purpose of those who you wish to serve.
Actually, Warren Buffett said it really well. He said, "What you love about you is your hobby, but what others love about you is your
business."
As humans there's two things that we always crave in addition to passion or purpose. We need to feel validated. If we have a passion
or purpose that no one really cares about, no one validates, we feel pretty empty, right? Once people find their vibe, they become
your tribe and that validation is awesome. But the other thing that we need in life to survive is actually money. When someone
validates that, they will also compensate you to as part of their learning or your tribe. So, I'm here to tell you that it's not a matter of
just finding out what you are all excited about or jazzed about. It really is finding that overlap between what you love about you and
what others love about you.
If you can find that within your passive income streams and then bring that to an audience that will support that through system, that
that is your leverage. Remember, you must have an asset. But now what is the vehicle you going to share it with and that can be,
again, either on-line or some kind of system through an affiliate program that has a distribution mechanism. That's really the essence
of building passive income.
Jewels: Wow, that is some great advice! I really loved the aspect of having a team and being able to find that team too. So that's
important.
Ver meeren:I'm glad that you mentioned 'Team' too, because one of the other things that I was just reading on my blog this morning
is what most people don't understand. It's that there are actually three ways that passive income and which can manifest itself. One
of them is CREATE. That's what you and I have talked about so far. You're going to build it, right? The other is what I call
REBATE, which actually deals with our habits. So in other words you've got a card that gives you cash back at the end of the year or
you're getting air miles. It's something that you habitually do, so you can REBATE your way into passive income which is
important. You're not changing anything but you're passively just receiving benefit.
The other thing that most people don't talk about (and this is actually the thing that made me the #1 Passive Income Coach) is
PRESERVATION. Income preservation requires the right team to see that its not about making money. It's really about how much
you get to keep. And I'm not just talking about taxes, although that's really an important part of this equation. But how are you really
keeping your money intact for you. And there's a lot of strategies around that too, because again, it's knowing part of the negative
side of passiveness ,is that many of us let it slide out the back door passively... just as quick as it arrives.
Kind of the key focus on my book is obviously, we need to get you started and we need to get you make some money. We need to
give you the confidence to know that passive income is a possibility. Not just passive but MASSIVE because we need you to make
some big money. So if you look at the subtitle on the book, it says "Seven Steps to a Seven Figure Income." This book actually
outlines the very predictable steps on how you can get passive income in a very quick and easy approachable way. And then from
there you begin building on it step by step by step until suddenly are to seven figure income. All of sudden you become FREE.
I was also in another interview laughing about this. Your vision of passive income doesn't have to be you sitting on a beach
somewhere. And that's what a lot of people think. They think. "I'm going to live the beach lifestyle." Well, the truth of the matter is
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