THE PRINCIPLES of PASSIVE INCOME
We know that anyone can have passive income. ANYONE!
Please master these principles. They cost you nothing to learn and can make you richer than you ever dreamed. Passive income is magic. It is the most incredible financial concept that you and I will ever encounter. It's the secret of the rich. Passive income is income that comes in month after month, without you having to work. A million dollars in the bank produces passive income in the form of interest. Royalties from a book or a record is passive income. The internet provides the means for all of us to earn passive income when we don't have a million dollars or a great sing voice. Here we go:
1. DUPLICATION
Duplication is the ability to easily copy or duplicate, the system or strategies that are making you money. Every system of passive income has duplication. the more things in your business you can make duplicatable, the more passive your income.
2. SYSTEMIZATION
There is no passive income without a system. It just can't happen. We will show you THE System later. This system will put you in passve income in a matter of weeks.
3. LEVERAGE
When you have other people working for you, That's called leverage. You will learn to recruit people who will also recruit people who will all be working for you - and themselves.
4. EXPONENTIAL GROWTH
At the beginning of any passive income effort, you are expending time and not receiving much income. But as time goes by, you will begin to receive more income without spending much effort at all.
If you save $1000/month for twenty years, you will have invested $240,000. But with exponential growth in the form of compound interest, that investment will grow to over $400,000. This principle is also obvious in most home-based businesses, except growth will happen much more rapidly.
Passive income does not give you freedom from all responsibilities. In fact, it sometimes gives you more responsibility. But with passive income, you become a leader. Someone who is in charge of their life. Someone whose time is flexible. Someone who others look up to.
