In this blog post, I would like to share some common sense principles involved in making passive income streams an actual reality. They may not be fun or sexy but it is what I believe makes the newbie entrepreneur or investor a success or failure. Maybe you already know what they are but please bear with me, because sometimes when I hear my coworker say they have spent money on a robot trading bitcoin because it can make them millions, I cant help but wonder how they buy in the greed emotion. Let me share a quote by Theodore Roosevelt:
“Nothing in the world is worth having or worth doing unless it means effort, pain, difficulty… I have never in my life envied a human being who led an easy life. I have envied a great many people who led difficult lives and led them well.”
All too many times when I surf the internet, I see sales pitches of financial gurus offering a turnkey “solution” to entrepreneurs wannabe that all you have to do is to swipe your credit or debit card and you will have great riches on monthly basis with little or no effort to monitor the passive income stream (whether it is a business or investment) and I think: “Wow! Why would someone who doesn’t know you personally or isn’t related to you by blood spend his waking hour toiling for your millionaire success for FREE or at a Cheap rate when he can reap the full financial rewards of his hard work and dedication for himself?” People in the train stations seldom give out of charity to panhandlers or beggars, much less to an able-bodied man or woman. Jody Hedlund once said, ” There is No Elevator to Success. You Have to Take the Stairs.”
The reason why so many newbie entrepreneurs burn a hole in their wallet buying such get-rich-quick courses and seminars is that hard work sucks. That’s right. Hard work, sacrifice, dedication and willingness to take financial risks and learn from failure are tough qualities that not everyone is willing to do. It is much easier to do nothing, take no risks, goof off and expect someone else to take care of your financial needs than to take responsibility for your financial future. There will always be an unpleasant part of any passive income stream. The hard part is focusing on the end result. Success is at least in my opinion proportional to the amount of focused effort you put in in your venture. Little effort, little gain. Large effort, large gain. And of course, no effort, no gain.
The hard truth is that making great riches, whether through a job, business or investment, is hard. There is nothing easy about it. Either you had to work very hard in a job, or invest a lot of capital, or take large financial risks to become rich in a short period of time. There is always a catch to worthwhile financial goals.
In a final note, please exercise common sense judgement when you evaluate financial guru’s courses and offers. Nobody (other than your loved ones) is willing to give you that free ticket to great riches that easily. I hope I didn’t offend or burst anyone’s bubble here through this post. I am merely expressing a pragmatic side of life.