It would be great if there really was such a thing as the ‘magic sauce’ that would make us all rich with little effort or investment. It is really a mystery why some people succeed and some don’t. Instinct may say that one worked harder or smarter than the other and maybe that is a key; or maybe one had more money to invest. There are many wildly successful entrepreneurs who dropped out of college or never went – so while in a job career a degree may be the key to a higher income, it is not necessarily so when you are in business for yourself. Since we are the sum total of all of our experience, maybe there is an advantage to prior business experience. Certainly knowledge and wisdom never hurt; so all of these things may be considered ‘education’. Maybe that is why some schools will give us credit for ‘time served’ – on the job and other life experience that does equip us to survive and thrive. With the advent of everyone having access to the Internet, we have a vast virtual public (free) ‘library’ of information on just about any subject.
Not only can we read about and learn concepts and theories as in a school book, but we can have real examples in links that are as close as a click. We can research and analyze and learn just about anything we need to succeed. The key is just in doing that and then in taking action to use what we have learned. Of course there are also opportunities to just set something up and get going, for example as an affiliate marketer or independent distributor. Even with all the things done for you so that you can just ‘plug in’ and go, you still need to know HOW TO promote those businesses in order to start what can become a successful online business. One issue appears to be confusion about some of the terminology bandied about in the industry, such as ‘passive’ income. Just to clarify this in front, let’s take ‘passive’ – When it comes to income, definitely not the classic definition, “accepting or allowing what happens or what others do, without active response or resistance”. No way. You will get exactly nowhere in business without an ‘active response’.
What ‘passive income’ actually means is for example having ‘residual income’. This would be passive because you make the sale only once, but then receive commissions every month on that initial sale; specifically if you are earning money from referrals, as long as your referral remains active you will keep passively earning money. This still does not mean you can make a sale and kick back – you do need to keep aggressively pursuing new business because of the fact that people frequently quit the programs. Ideally you don’t wait until you have no income from that source and then find a replacement. You need to ‘stay ahead of the 8-ball’.