I was recently watching a video saying that passive income is a myth and something that cant be achieved, that people spend their whole life trying to get passive income for it to never really be that impressive or worth it. Yes I agree it can be very dangerous, if all you ever focus on is passive income and don’t see the big picture you wont end up in a favourable position. However I can also see the benefit of passive income as well, it can provide an endless income stream which generates wherever you are in the world, whatever time of the day and just keeps on going!
But in this article I wanted to point out to you guys why it can be dangerous and why you may want to focus on something else. Exponential growth opportunitiesare really where you want to focus – I feel that being passive sort of restricts the activity and has this lazy connotation connected to it. So what is an exponential growth opportunity? Well let me explain it over the next couple paragraphs.
Imagine you are a normal employee at a company, you work your 9-5 everyday and get paid the same amount regardless of whether you work 2 hours that day or 14 hours that day. You always get paid the same amount into your bank account. Now that is good and proper if you are up for living a mediocre life and happy with your salary. You can have a beautiful family, healthy children and afford everything you want with this lifestyle. However you will always know that there is no real value in the work you are performing. The company you work for does not value you or your time, because if they did then you would not be on an hourly rate.
If you own your own company, this is a bit better. You now can work your but off in the first couple years and establish a presence in the market, establish your processes, and then as your business starts to grow you can then reap the rewards through the overall profitability of the company.
Where you really start to see reward is when you start having a long term focus – the long tail. If you can spend the work now, by spending a day on a very detailed highly impressive article and it ranks and is popular for the next several years you will see the benefit for that article over the next 10 or so years. As it grows from year 1 to year 5 the exposure is only going to increase and gain momentum, the more page views the more adsense results, the more affiliate links etc. Now this is just for one article or blog post. Imagine if you spent hours and hours working on this to get it down to a fine art. You work out a cookie cutter type process and pump out articles on niche results. These continue to grow over the years and your work long tails out.
Instead of a flat curve for the number of hours you work and the income you get for your results, you now get paid an exponential curve for your hours of work. This is different to any other job you have.
Exponential growth opportunitiesdo exist in the market, instead of just passive income that could be a term deposit that may never ever get you anywhere you need to be looking for these opportunities in the market. Focus on the opportunities where you no longer get paid just for the hour you work like a job at Kmart or McDonalds receiving $20 an hour. Instead focus on those jobs that for the work you do now will continue to pay off in the future at an exponential rate.
So how do you get this cookie cut type process – well firstly you really do need to practice and get experience under your belt. Once you start to see how articles or youtube videos get views then you can take the skills you get from this and apply them into your cookie cutter system.
Wouldn’t it be great to think of a topic, research the topic, write or script out all the most useful information you can on that topic, put it together and then put it into the market. Use this same process in an efficient time manner and get it down to an hour process per document. That is the end goal that is something you should be working towards. Now this system is only based on blogs or youtube videos but can be applied to any informational product and plenty of others.
Get your thinking hats on and strive for exponential growth opportunities.
Want to read more?
If you are like me and want to read all there is one generation of passive income, then follow this link through to my Top 30 Passive Income Ideas. Here I list out similar ideas to the one above, and go into detail explaining how to generate passive income through them.
I also have my Top 10 Passive Income Book list that I save you hours and hours of reading and take the very best lessons I learnt from each book.