Business Finds

Sticking to the Plan – By Steve Pavlina

If you want to enjoy the benefits of passive income, then you’ll have to make it a priority in your life. It’s not going to happen automatically. It will take some effort and hard work. But if you strive to balance the four aspects I mentioned above, then you’ll probably find the work motivating and rewarding. You should also feel good about how this work continues to develop your strengths and talents. Yes, it’s work, but it’s work that feels good.

Let me warn you in advance that society will try to keep nudging you in the direction of active income. If that isn’t what you want, then you’ll have to muster the strength to stick to your guns. Forget about getting a job. Focus on building a cool life instead.

After I graduated from university, my friends went out and got corporate jobs, while I chose an entrepreneurial path. In the beginning, I struggled to pay my rent while they bought condos and new cars. In the long run, I think my strategy was the better choice. Now I get to enjoy a lot of freedom, while people who chose the active income path are still stuck on the job treadmill. Many of them are now bored and frustrated with their corporate jobs. They wish they had more freedom.

I especially notice the difference when it comes to skills development. My corporate job-wielding friends got really good at pleasing their bosses. They developed specialized skills that they apply over and over to similar types of projects. Their skills development has been very narrow and limited; outside their field, their skills don’t matter much. During this same time, I learned how to build successful online businesses, to write well, to speak professionally, to do workshops, to do interviews, to negotiate business deals, etc. These high-level skills give me a lot of leverage, making it harder for me to fail.

This isn’t all or nothing. You can still earn active income whenever you desire. I did several 3-day workshops last year, and I recently started offering phone consultations because I happen to like coaching people one-on-one. I earn enough passive income to cover my business and personal expenses, but I still have the option to generate active income if I so desire. Passive income simply gives me more freedom of choice.

It’s really nice having a solid base of passive income. It can take a lot of work to reach that point, but it’s worth the effort. Most people won’t invest the time and energy to go this route, but most of them can’t afford to stop working without seeing their income drop dramatically. I think it’s nicer to know that you can take a few months off now and then, knowing that your income will keep coming in whether you’re working or not. Work because you want to work, not because you have to work.

This series is derived from the Newsletter by Steve Pavlina – Personal Development Insights #31, published without copyright in the public domain. Further Details.

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Passive Income by Business Finds