A Job To Do or Passive Income Wealth, What's Your Goal?

A Job To Do or Passive Income Wealth, What’s Your Goal?

July 18th, 2008 | by Scott

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I know some of the readers here are just looking for ways to earn a little extra income each week online. Whether for beer money or to help pay some bills, build some savings or whatever. This post really isn’t for you.

This is for those who intend to build a full-time income online, and the need to ask yourself a crucial question (the earlier the better).

Is your goal to create daily work for yourself that’s profitable, or do you want to build completely passive income streams to ultimately generate income for you while you play at the beach or travel the world.

I have to insert a word of warning here, the term passive income makes me ill. I absolutely hate the way it gets thrown around in sales copy by marketers who want to sell their systems of “free money” making to enthusiastic, desperate and motivated people.

The notion of passive income online as it gets touted too often is almost a myth, and is certainly not a reality for the average Joe starting out. Almost nothing you do today will continue generating revenue for you over several years without some additional input and upkeep.

However, you can build projects and alliances today that will be profitable for years to come with minimal input and upkeep, but that’s not truly passive income. You work for it and you earn it. For example, my web sites earn me money from around the planet 24 hours per day. I’m not online 24 hours per day, so some of that income is made without direct input by me at the time of transaction, but I still created the earning opportunity and generated the sale with my daily work.

I work every day on my sites. Not every site every day, I have nearly 200 web sites online right now and that would be too much. But I do give a few minutes to upkeep, maintenance, updating, promoting and etc. for almost all of them each month–plus I’m constantly developing new sites or products; and that makes up my daily work that I’ve created for myself.

In other words I haven’t built a business that just makes me money, I’ve built a job for myself to do every day that earns me a living. In my mind there is a distinct difference.

Now to shift positions…

If you’ve read this far you probably think I have some adverse feelings towards honest passive income, but I don’t. In-fact, my future plans depend on it.

In about 7 years I’m planning an early semi-retirement for myself. This has been my goal for a long time, and I’ve shaped my business so that when that time comes it will continue generating a nice income for me without my having to put much more than a couple hours per week into it at most.

While I work long, hard hours every day now, I do it with this future goal in mind so that I make the right decisions which will help me achieve it on schedule.

If you read my blog then you’ve heard me refer to Heather, Chrissy and Bobbi as partners and associates. Which is exactly how I view each of them. I’m not a business owner today, I’m a partner with the people I’ve surrounded myself with.

In 7 years I’ll be a business owner who relies on them to get the job done and keep things going forward. I’ll have a hands-off position in the daily operations at that point.

I can do this because I decided early on what my goal would be and have molded my business all along to be in position for that transition, and to have the right people with the right knowledge and experience ready to take over.

So, you could say that when I answered the question of this posting for myself, that answer was “sort of both”. I created a daily job for myself to do that would lead into a passive income for me down the road.

What’s your goal?

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