Face it. The only way to make passive income for average guys is inventing.

[Andy Black]

Nah keep him up, maybe create a Hall of Shame thread to pin these guys so anyone on the forum that comes across them online knows they're full of shit.

Better to not have public halls of shame.

There's some great lines I like:

"Criticise in private. Praise in public."

"Catch them when they're good." (Meaning to reward with attention the behavior you want to encourage.)

Also, people make mistakes and can learn from them and change,

and I think we're better off judging the behavior rather than the person ("I hate people who queue jump" vs "I hate it *when* people queue jump").

 

[MJ DeMarco]

He might just have a poor understanding of social media and forums.

The one thing that has really irritated me in the last 15 years are those who think they're being clever.

They join, and promote covertly in guise of progress threads, feedback requests where they really don't want feedback, and other obvious attempts at links and traffic.

The obvious tell is the question, "Are they here because the forum is a community? Or a marketing channel?"

This even happens with older members who disappear for years and "suddenly" return from the ashes.

My first thought, sadly but accurately is, "Oh, what are they trying to sell?"

Oh wow, its great to be back after 7 years! BTW, here's my new $2K course.

The reason why the forum has succeeded over the years is because I always held a community first approach with sell later.

I love hearing about what people are selling and doing, but not from drive-bys who have ZERO interest in the forum other than what they can "Squeeze" from it. (BTW, tell us what you're selling in the self-promo thread!!)

This is also why I stopped doing in-person summits; 90% of those who attended don't even visit the forum and prefer giving Zuckerburg the grease, so why should I bother?

One thing Reddit has nailed down, is those folks don't tolerate these subversive promotional attempts.

At Reddit, it is community and value first. If you're start dropping promotional crap early, they pile on and get rid of you.

 

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[MJ DeMarco]

Let me save you the trouble, TFLF isn't going to grow your podcast for you.

You all are now barking up the wrong tree; as soon as he discovered his cloaked promotional posts weren't going to work here (and he would be questioned about certain edgy takes) he asked for his account to be deleted, which I will honor tomorrow at the open of the business day.

It's a classic example of when someone doesn't come here to contribute or be part of a community, they come here and interact like it's a marketing channel.

And that's too bad as the guy definitely had some war stories to share.

Tip for new people on how to succeed here:

Community first.
Promotional second.

When you go promotional first and community second, you crash and burn.

For the record, several people reported his posts as spammy and indirectly promotional, I just stood by and watched.

 

[MJ DeMarco]

Can you name some businesses or hustles that are truly passive?

Hate to break it to you: But any business can be made passive with the right employees and management.

 

[Antifragile]

Initially I really didn't think much of the: User Power & Value/Post Ratio

But this thread highlights that it was an important improvement to the forum. A valuable shortcut to save readers valuable time.

 

[Kak]

After being considered a quality poster on this forum for over 10 years, I started an entrepreneurship podcast. I posted over 300 episodes, over ~3 years, of a podcast that was (and maybe still is) decently well loved around here. It wasn't for everyone, the onepreneur and freelance crowd in particular got nothing out of it.

Let me save you the trouble, TFLF isn't going to grow your podcast for you. I would say it's even harder when most of your readers are voting hard noise on the noise to quality spectrum.

I didn't get where you think this is going to go, and I had incredibly positive feedback and a decade track record.

 

[Antifragile]

he asked for his account to be deleted

Wow.

This was 10x sooner than I expected.

But I shouldn’t be surprised. The minute someone new starts here with “I’m ready to give back, just sign up for my mediocre newsletter, podcast or course” because it’s “free”… my antenna perks up.

Walks like a duck, quacks like a duck… yes, it’s a thin skinned wannabe content “creator” scam. Not the worst out there, but a waste of time nonetheless.

After being considered a quality poster on this forum for over 10 years, I started an entrepreneurship podcast. I posted over 300 episodes, over ~3 years, of a podcast that was (and maybe still is) decently well loved around here. It wasn't for everyone, the onepreneur and freelance crowd in particular got nothing out of it.

Let me save you the trouble, TFLF isn't going to grow your podcast for you. I would say it's even harder when most of your readers are voting hard noise on the noise to quality spectrum.

I didn't get where you think this is going to go, and I had incredibly positive feedback and a decade track record.

Kyle, the fact that he didn’t even know we have a thread with over 300 business shows, well loved by most here… what does that tell you?

He didn’t come here to give, like you did! He came here to take. It didn’t work. Wrong crowd.

Stil, this was a fast one. I thought he’d last at least another month or two …

Can you name some businesses or hustles that are truly passive? All I know is I work 2 hours a day watching my invention sell via multi- channel distribution but if you have something I'm all ears!

I know you are history as of tomorrow… but for other readers, new entrepreneurs… the above makes no sense.

Passive income is when you don’t work and income keeps flowing your way. It’s stupid simple really.

Business that you own but is run by a hired CEO & team is passive. You just own stock. Like a public company on a stock market …

But here’s the thing, there is nothing passive about creating wealth. Building a start up. Scaling it 10x to a saleable business. Doubling down and 10x it again… and reaching that F*ck you money. Nothing passive about that.

 

[perchboy]

lmao i typed a whole paragraph thinking you said investing. nvm

 

[ZCP]

I don't agree with this limiting belief.

 

[Dark Water]

A disingenuous, edgy title, followed by a faux display at providing value only to try to draw attention and possibly snag a guest for his own podcast.

There's not really any reason to make a forum post in this tone. You yourself know the assertions you are making aren't necessarily true. The content doesn't match the assumed authoritativeness.

 

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[heavy_industry]

This attempt at using the forum as a marketing channel has not only failed - it backfired.

I will never watch this podcast.

Specifically due to this marketing stunt. It now has 0 credibility in my eyes.

---

Whenever someone comes to the forum and starts blasting us with their shit, it is as if they think we are a bunch of idiots ready to buy into whatever is being promoted.

 

[biophase]

Alibaba wholesale, Saturated.

Software, Tricky.

Retail arbitrage, Dead.

Drop shipping, Lie.

Now I don't mean inventing like experimenting with the hottest new bio-chem discoveries or trying to change the way we fuel vehicles. I mean finding simple ways to make things better, verifying you can afford to make these changes ON YOUR OWN, and growing a pair of balls and learning how to sell it NOT LICENSE (scam).

Thoughts?

Also, here is a video on the topic.

The F*ck?

This whole rant makes absolutely no sense.

First, do you know what passive income even means because none of the businesses you mentioned are passive.

 

[biophase]

Can you name some businesses or hustles that are truly passive? All I know is I work 2 hours a day watching my invention sell via multi- channel distribution but if you have something I'm all ears!

So is the definition of passive income to you, 2 hours of work a day? Because you say you are working 2 hours a day watching your invention sell. But your title says, "The Only Way To Make Passive Income For Average Guys Is Inventing" and that's what you did, but you still work 2 hours a day?

I have a couple of short term rentals that are 100% passive. My property manager handles everything. I get a report once a month. My ecommerce business runs on less than 2 hours a day work from me. My portfolio of stocks is paying me passively.

Your original post just doesn't make any sense.

You say, "Face it, The Only Way To Make Passive Income For Average Guys Is Inventing", And then you going on to name 3 things that have nothing to do with passive income.

Alibaba wholesale, Saturated. <-- these are all ecommerce and are in no way considered passive
Software, Tricky.
Retail arbitrage. Dead. <-- these are all ecommerce and are in no way considered passive
Drop shipping, Lie. <-- these are all ecommerce and are in no way considered passive

Honestly, I could have made a better argument for you.

"Face it, The Only Way To Make Passive Income For Average Guys Is Inventing"
Real estate, bad tenants destroying your property
Influencer, gotta keep making content and commandment of control, eventually becomes e-commerce
CDs, low returns due to no risk
E-commerce, capital and labor intensive at the start

 

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[Andy Black]

I didn't know this. I should not have offered an invite to the call.

He already seemed really suspicious but I just thought I was being irrationally judgmental.

He's unwelcome at the inventor's meeting.

He might just have a poor understanding of social media and forums. He may come across much better on a call, and be a valuable participant in the call. Heck, maybe you could even joke about it and get him to change his ways?

 

[SEBASTlAN]

This attempt at using the forum as a marketing channel has not only failed - it backfired.

I will never watch this podcast.

Specifically due to this marketing stunt. It now has 0 credibility in my eyes.

---

Whenever someone comes to the forum and starts blasting us with their shit, it is as if they think we are a bunch of idiots ready to buy into whatever is being promoted.

What's funny is that he managed to fool a few members in his "introduction" post. I was skeptical and called it out immediately, but even got pushback for doing that.

I'm glad it only took some time before the truth revealed itself.

This even happens with older members who disappear for years and "suddenly" return from the ashes.

My first thought, sadly but accurately is, "Oh, what are they trying to sell?"

Oh wow, its great to be back after 7 years! BTW, here's my new $2K course.

The reason why the forum has succeeded over the years is because I always held a community first approach with sell later.

I don't know why, but I don't seem to have an issue with this as much as I should. Even recently with @noahkagan coming on here to sling his book after joining in 2015, and we'll probably never see or hear from him again (and I'm a fan of his).

 

[MJ DeMarco]

Thoughts?

I disagree, but it seems you're pretty confident in your assertion.

 

[Aidan04]

investing

Mate he's talking about inventing.

To create something new that improves a life or makes something more convenient.

It's probably the one of the most creative endeavors that you can do.

 

[perchboy]

Mate he's talking about inventing.

To create something new that improves a life or makes something more convenient.

It's probably the one of the most creative endeavors that you can do.

oops that makes more sense. i should probably get to bed

 

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[Subsonic]

I make 'passive' income from child labour and tax evasion in a first world country.

No need to be fancy.

 

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[Spenny]

You all are now barking up the wrong tree; as soon as he discovered his cloaked promotional posts weren't going to work here (and he would be questioned about certain edgy takes) he asked for his account to be deleted, which I will honor tomorrow at the open of the business day.

You can't make this stuff up. I nearly fell off my chair.

Whenever someone comes to the forum and starts blasting us with their shit, it is as if they think we are a bunch of idiots ready to buy into whatever is being promoted.

"YAY! Another course/book/podcast to add to my collection! Thank you, Sir! Where can I pay you $100??? I want to be a millionaire NOW!"

 

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[RightyTighty]

I didn’t see this thread until after the carnage, and I hate to see that it ended this way. I watched several of Grant’s videos last year and also had a good phone call with him. While I don’t agree with all of his assessments and had a “WTF moment” when I saw this last post, he really is a great guy. He built his brand from nothing and it’s extremely successful and growing rapidly. Whether he has plans to someday monetize or otherwise leverage his podcast I can’t say, but for now he’s providing value for free to anyone who tunes in. Though his approach here bombed, don’t write him off as a charlatan or a douchebag because that’s not who the man is.

 

[Aidan04]

How can I join the discussion?

We have a thread:
MEETUPS - Inventor's Virtual Meetup

Thats awesome. Can you connect me with a person like that? I need a guest like that on our show because we keep finding that the average guy/gal "can't disclose" which is loosely translated to "got got"

Actually, this usually means they signed an NDA.

I'd love to get to know you guys better! I've successfully brought a product to market myself. I love the process and interviewing inventors.

Always great to meet new people that are interested in this stuff, just keep in mind that the virtual meeting and our community should not be used for generating leads and we don't take kindly to being patronized. It's a very open discussion.

 

[Kak]

Hate to break it to you: But any business can be made passive with the right employees and management.

Yep

 

[mikecarlooch]

Alibaba wholesale, Saturated.

Software, Tricky.

Retail arbitrage, Dead.

Drop shipping, Lie.

Now I don't mean inventing like experimenting with the hottest new bio-chem discoveries or trying to change the way we fuel vehicles. I mean finding simple ways to make things better, verifying you can afford to make these changes ON YOUR OWN, and growing a pair of balls and learning how to sell it NOT LICENSE (scam).

Thoughts?

Also, here is a video on the topic.

Software tricky?

Yes, that's why most people don't do it. Valuable things are hard to build

 

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[Andy Black]

I didn’t see this thread until after the carnage, and I hate to see that it ended this way. I watched several of Grant’s videos last year and also had a good phone call with him. While I don’t agree with all of his assessments and had a “WTF moment” when I saw this last post, he really is a great guy. He built his brand from nothing and it’s extremely successful and growing rapidly. Whether he has plans to someday monetize or otherwise leverage his podcast I can’t say, but for now he’s providing value for free to anyone who tunes in. Though his approach here bombed, don’t write him off as a charlatan or a douchebag because that’s not who the man is.

Good to hear. It doesn't surprise me that he could be a good guy and just clumsy at posting on social media and in forums. Hopefully he's learned something and can adjust.

 

[Aidan04]

Alibaba wholesale, Saturated.

Software, Tricky.

Retail arbitrage, Dead.

Drop shipping, Lie.

Now I don't mean inventing like experimenting with the hottest new bio-chem discoveries or trying to change the way we fuel vehicles. I mean finding simple ways to make things better, verifying you can afford to make these changes ON YOUR OWN, and growing a pair of balls and learning how to sell it NOT LICENSE (scam).

Thoughts?

Also, here is a video on the topic.

You're preaching to the choir here. This isn't a grand revelation hahaha

To be clear as an inventor/designer myself, this is not the ONLY way to do things, but it is certainly one of the fastest pathways to success. It's even better if you already have a background in engineering or science.

We have a thriving community of product designers and inventors here, and we have a virtual meeting bi-weekly. You should stop by if you're interested in inventing things.

 

[Aidan04]

I mean finding simple ways to make things better, verifying you can afford to make these changes ON YOUR OWN, and growing a pair of balls and learning how to sell it NOT LICENSE (scam).

Also, licencing is a valid pathway and has made people millions. You don't know what you're talking about.

 

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[Guest6x3pod4]

We have a thread:
MEETUPS - Inventor's Virtual Meetup

Actually, this usually means they signed an NDA.

Always great to meet new people that are interested in this stuff, just keep in mind that the virtual meeting and our community should not be used for generating leads and we don't take kindly to being patronized. It's a very open discussion.

Awesome. Thanks for the help and I will be there. Again, if you can connect me with someone who can help other inventors with a successful licensing story I would love to speak to them.

Ahh yes NDA's. Like a-holes. Anyone who has witnessed an NDA litigation knows they are all junk. I have my ways around that.

Regarding the meeting. I am super interested. Really just there to listen.

I'm glad you guys are talking about bringing inventions to market. That's the point these scammy "we will get you licensed" charlatans will hide from inventors... It's not worth d*** unless you have proven it on the market.

I just spoke with a trade show exhibitor who broke down how to find the perfect trade show and she really demystified inventors fears and reservations around them.

Great stuff, see you soon!

 

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[MattR82]

Why is licensing a scam? I've known people that have licensed some weird products lol. Harder than it sounds though, for sure, but not a scam.

 

[Bearcorp]

You all are now barking up the wrong tree; as soon as he discovered his cloaked promotional posts weren't going to work here (and he would be questioned about certain edgy takes) he asked for his account to be deleted, which I will honor tomorrow at the open of the business day.

Nah keep him up, maybe create a Hall of Shame thread to pin these guys so anyone on the forum that comes across them online knows they're full of shit.