Thread: The dangers of passive income

Great link, valuegiver!
Doesn't contradict MJ's book, though may have a different vision of how much time people want to spend on work after they find success, but I think provides a good reminder that you have to put in the commitment to create a good business process before skipping to the passive income payoff.

Just read this article. Depending on how you look at it, there is no difference between that article and what MJ said in the book. You have to put in a lot of hard work at first, and Customer Service is always important. Throwing up one e-book then waiting to become a millionaire is not going to work, that is just common sense. All books, e-book or paper follow the cycle of slow start, build up, peak then falling popularity back to base. So update your book or throw up another one, advertise it and complete the cycle all over again.

My Opinion,
Bryan

Nothing groundbreaking in there for me, but a good reminder nonetheless. Thanks for sharing!

I agree with everything in the article and I think it reinforces "Fastlane", not contradicts it. People who start a business for "passive income" or starting it for the wrong reason.

He is spot on regarding competition -- it is the reason why I sold my company. While I was living the passive income lifestyle, I knew my competitiveness was in danger and the only alternative was to "dig in" again ... or sell. The passive income lifestyle via my business had a limited life, and I recognized it.

Great find.

Also a lot of the typical internet marketing "passive income" techniques violate the commandment of entry