A Look at Passive Income

Why it doesn't have to be a pipe dream!

It's a little embarassing, but I'm going to tell this story on myself anyway.

A long, long time ago, my family and I started a small business that was basically offering a B2B service in a cottage industry niche where we already had a bit of traction. We were on the fast track to launch, but we'd booked a family vacation months before that just happened to coincide with our business launch.

So, we sent out a lot of information packs introducing ourselves to our prospects, loaded up the fax machine with paper so it wouldn't run out (see, I told you this was a long time ago!), and set off on our vacation, confident we'd return to a fax machine full of orders.

Do I even have to say what we returned to?

Not a single order.

Thus ended our dream of making money “in our sleep” (or, in that case, while on vacation).

But that doesn't mean the dream was a bad one, or that it's unattainable. Passive income is a thing, and it can be developed.

The mistake many people make is thinking passive income can come without a cost. There's always a cost—either money, or effort, or both.

The mistake many people make is thinking passive income can come without a cost. There's always a cost - either money, or effort, or both.

If you have a million dollars to invest, you can probably live off the passive income it would generate in the stock market. In that case, the cost is your investment principal—money you deliberately “tie up” so it can work for you in the long term.

But what if you don't have a million dollars to invest?

Well, that's not the only kind of passive income.

These days, you'll find everybody and their kitchen sink is selling some kind of course or e-book to make passive income on the Internet.

But very few people who buy those courses actually make it. And somehow it always seems the most important details are just a little out of reach—either not divulged at all, or maybe tucked away in the “Elite” version if you'll just pony up another $1997.95. Then, you have to stay on the insanely fast-moving cutting edge of Internet marketing to keep the money flowing. Does that sound “passive” to you?

(Don't get me started on MLM—yes, some people do well in it, but far from most.)

The fact is, most of us don't have the money to invest and live off the interest. And, most of us don't have the specialized skills to make passive income online either—at least not anytime soon.

So, what's the answer?

The good news is that passive income doesn't have to be a pipe dream. You just have to be willing to look at it creatively, and be open to considering options you hadn't thought of before!

I believe a “hybrid” approach is the best way most of us have to build passive income.

These methods combine a reasonable financial investment with skills that most of us already have.

That's why I call them “hybrid” - they're a blended approach, rather than depending purely on money or purely on expertise.

For instance, you could buy a business that offers “absentee ownership.” You'll have to make a financial investment, but less than if you were going to purely invest your way into passive income. And you'll have to bring some effort to the deal, but perhaps less specialized skills than you'd need to build passive income purely through your own effort. (If nothing else, you can look for an opportunity that matches skills you already have.)

Fortunately, there are opportunities like that available. It might take some digging (business broker websites are a good place to start), but if you look around diligently, you might find more options than you'd expect.

The good news is that passive income doesn't have to be a pipe dream. You just have to be willing to look at it creatively, and be open to considering options you hadn't thought of before!

Shameless Plug:

I could have written this exact post a year ago, before I ever got involved in my current business. But since I write what I believe, naturally I'm attracted to business opportunities that match.

This post describes exactly why I got involved in one of my current businesses.

So, if what I've written here makes sense to you, then you'll probably be interested in learning more about this business yourself.

Late last year, I came across what I believe to be an almost perfect “hybrid model” toward passive income. Seller financing may be available for the financial side, and about the only “expertise” you need to bring is basic people skills.

That said, this opportunity isn't for everyone. You need to be a bit of a visionary. If you're not able to see the “big picture,” then this probably isn't right for you.

But if you can recognize a good thing when you see it, then this is your opportunity to get in on the ground floor of what I believe could be one of the greatest passive income opportunities available right now for people with modest means but big dreams.

Interested? Check it out here.