Passive Income streams are something I’ve been familiar with for a long time. Since 1995 when I sold my first pager (hey they were cool in the 90′s!) in a retail business I had that sold satellite systems such as Dish Network, and DirecTV, as well as wireless phones. It was back then that I was introduced to passive income streams. It made total sense that if I sold a service for X dollars a month, that I would continue to get paid a percentage of the customers bill for as long as they paid it. I had multiple passive income streams back then, and I’ve focused my entire career on focusing on passive income streams for the mere fact that I “don’t like to work”.
Now don’t get me wrong, I work very hard today, but the purpose of this article is to help you understand the power of passive income streams and what they can do for you and your family. Years ago I started my business career in the restaurant and bar business. I worked 90-100 hours a week, got married, and didn’t know my family because I was always gone. It was horrible! During that time I was introduced to the residual income business model and I’ve made business decisions ever since that support my belief in passive income. If I have to trade time for money, or get paid once for making a sell, I typically have no interest in doing that.
My Experience with Passive Income Streams
You see I love my family, and I like to take trips. For the last 15 years I’ve made between $8-25K in monthly residual income because I put the time into businesses that pay me over and over and over for doing something one time. Please understand this is not to boast or hype income claims, but merely to help you understand that by starting today creating passive income streams (rental property, home based businesses, affiliate marketing, or service based industries) you can start to develop your own passive income streams to help change your life and the way you live it.
My title reads “How to Make a Great Income on Vacation” because the past couple of weeks I went with my wife and six kids on a Cruise, 3 amusement parks, and to the beach for a few days. We went to Busch Gardens for a day with my Cousin and 2 of her children, cruised to the Bahamas for 4 days/nights, to Universal Studios for a couple of days, and then to Amelia Island for a few days. It was a ton of fun, the kids had a blast on the cruise, and it was very expensive to say the least. It certainly put a dent in my bank account, however, I was getting paid everyday I was on my trip because I’ve worked very hard to build passive income streams online that afford me the freedom to spend time with people that I love. If that’s your hearts desire to do the same I’m hear to tell you…GO FOR IT!!
Books on Passive Income Streams and Changing Your Life
I recommend reading two books: Excuse me, Your Life is Waiting on You, and for an online business Crush It by Gary Vaynerchuk. These two books help you understand fully that you DON’T have to do something you HATE! I reread Crush It on my cruise on the deck of the ship, and the thing I came away with most is that you have to follow your passions. If you don’t like what you’re doing today…DON’T DO IT! If you can think of something you love to talk about more than anything else in the world, all day everyday, DO THAT!
I thought about what Gary Vaynerchuk said (about finding your passion) really hard when I was alone on the Ship Deck (rare moment with 6 kids), and I thought of several things I’m passionate about. Real estate, raising children in a good environment, mentoring young people, protecting women from abusive men, and building passive income streams. I LOVE building passive income streams in businesses, and I can speak from experience because I’ve done it for almost 20 years now! Gary also mentions that you should be able to immediately come up with 50 topics you can blog about, or do a video on regarding your passion. THAT is what you want to build your business around!!
If you’re sitting there thinking that no one is interested in what you have to say…YOU’RE WRONG! I thought that too to be honest when I started, and now I talk to people everyday about developing passive income streams online…MY PASSION! All it takes for you is commitment to learn a skill or use one that you already know, and you too can CRUSH IT online! If you’re looking for a mentor and friend to talk to, I don’t charge to talk to anyone and I’d love to hear all about your goals in your life. I believe in you, and so should you! So please excuse me, but your life is waiting. Start building your life today as you want to design it. It CAN happen, and it will!
All the Best,
Dean
By the way, here is a snapshot of our cruise…AWESOME times!
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Awesome post!!! And so true!!! Who makes more? The Dr who works 80 hours a week and makes $300,000/yr or the Passive Income Earner who works 10 hrs and makes $250,000/yr? Loving me some time leverage!!!
I appreciate you sharing your experiences with us and supplying us with valuable information. You give me great motivation to start my own online business. I have successfully created a passive income stream and its great. Thank you for the inspiration…
Thanks Pat and I appreciate the comment. Go for it!! Let me know if I can help you with your business in any way. Take care
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