Shane and Jocelyn Sams, who were teachers before. Shane listened to my podcast, and he was like, check out this guy Pat, and his wife was like, No, that sounds kind of scammy to me. But then they decided to give creating digital products a try, so Jocelyn created a website called Elementary Librarian where she was selling packages and worksheets to librarians to help them and that site is doing really well. And Shane is a football coach, so he created coachxo.com to sell defensive plays to coaches. Both of those are doing well over six figures a month now, and they’re doing it through pdf files, worksheets and tools that their audience can use to help them in a more convenient way.
What if the manager of the Idaho investment center wants to invest $100,000 in new equipment that will generate a return of $16,000 per year? This would provide residual income of $4,000, which is the amount by which it exceeds the minimum 12% rate of return threshold. This would be acceptable to management, since the focus is on generating an incremental amount of cash.
Rich Dad Poor Dad – This is the book that launched thousands of real estate investing careers and is still one of the most famous real estate investing books of all time. There is lots of debate whether it’s a true story, but nevertheless, the concepts in it blew my mind when I first read it. It really speaks to the importance and value of not trading time for money. Here’s my full review.
The trial court ruled in Karen’s favor and signed a proposed divorce decree that had been drafted up by Brad’s attorney. Neither party appealed the decree. After the divorce, however, Karen’s monthly income began to progressively decline. As a result, she filed a petition in July of 2007 alleging that Brad had violated the terms of the divorce decree. She also proposed an alternative argument that perhaps the divorce decree was too vague and needed to be clarified. The trial court found that the decree was, in fact, too vague, and ordered it to be clarified.
Peer-to-Peer Lending: Earn up to 10% in returns by lending individuals, organizations and small companies who don't qualify for traditional financing through peer-to-peer lending platforms like Lending Club. You can lend $100, $1,000, or more to borrowers who meet lending platform financial standards. Like a bank, you'll earn interest on the loan - often at higher returns than banks usually get.
You add the email to your newsletter sequence, so at some point in the future every person who joins your email list will be notified of the review. This is where the first part of the passive income is generated. Long after the review is written and the email is first broadcast, new subscribers are still exposed to it, driving a consistent, albeit small stream of sales (this will vary of course based on the responsiveness of your list).
I love being a blogger. One of the main reasons is that I have been able to stop exchanging time for money with the passive income from my blogs. There are only so many hours in the day. There is only so much you can earn per week in most traditional jobs. Not a fan. I want to maximize my efforts. I want to make money passively even when I'm on vacation or taking a little break.
Shane and Jocelyn Sams, who were teachers before. Shane listened to my podcast, and he was like, check out this guy Pat, and his wife was like, No, that sounds kind of scammy to me. But then they decided to give creating digital products a try, so Jocelyn created a website called Elementary Librarian where she was selling packages and worksheets to librarians to help them and that site is doing really well. And Shane is a football coach, so he created coachxo.com to sell defensive plays to coaches. Both of those are doing well over six figures a month now, and they’re doing it through pdf files, worksheets and tools that their audience can use to help them in a more convenient way.

Wouldn’t it be nice to earn money while not working? That money is called residual, or recurring, income. It's what can happen after you put a lot of time, effort and sometimes money into a job to continue to get paid for the work months or years after it's done. (Salary jobs are part of linear income. This income is directly related to the number of hours you work. If you work 40 hours, you get paid for 40 hours of work.) Once you set up your business to earn residual income, you continue to make money while doing other things – maybe even starting a new business to generate more residual income!
To create residual income, you need to create something that people will continue to buy on a regular basis long after you’ve created it. A house is a prime example of this as people will continue to pay rent for the right to live in the house. A business needs to have products that are sold over and over again rather than trading the business owner’s time for money.
Easy Plugin for AdSense is a convenient way to add and manage AdSense on your WordPress site with minimal fuss. It follows all the official Google AdSense rules too, which is important if you’re serious about earning revenue from this method for the long haul. It comes with several sidebar widgets, numerous options, control over positioning of the AdSense blocks, and an easy-to-use interface.
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Interesting post thanks. I have had similar thoughts about the passive income model – it’s not “passive income” at all, it’s just a different business model where you do the same amount of work to build a product/service and support clients in a slightly less direct way than standard freelance/project work. There are also greater risks with the passive income model – if you are simply selling your time as a freelancer or WordPress agency, you are guaranteed to be paid for your time. Whereas you can spend months or years developing a product, service or blog in the hopes of attaining “passive income”, only to find that it doesn’t take off and you never get paid for this time. In theory the gains of a passive income business are greater as it is scalable and the amount of work doesn’t necessarily increase as you get more sales, but the risks are greater too.
This means that you can either jump start your passive income by investing some money in it from the start - such as paid advertisement or something of that sort, or spend a sizeable amount of time perfecting yourself and working around what you’ve got without having to spend any money. Passive income generating is by no means an easy task, and will definitely take some action to reach, but it is very, very reachable.
A) Live, breathe, eat, and sleep this activity that is their passion. It's what they most care about. There's no way they'd give up this active, creative endeavor for a life of reclining on a beach chair. They cannot wait to wake up another day and spend another full day, from dawn to dusk, engaging in this project, building and creating things within this realm, giving this gift to the world. And, my guess is these people...
The net operating income is the amount of money that has been made once all of the person’s expenses have been subtracted from it. For instance, in order for an author to determine his net operating income, he would have to deduct the costs involved in creating the book from the amount that he earned. Designing the book cover, editing the book, and publishing the book are all examples of these kinds of expenses.

Tied into this point, I like how Scott discourages big dreaming from the point of view that when you try to solve too big a problem, you’ll normally fail since you don’t have the resources to tackle it – eg don’t reinvent say ecommerce platforms with complex software, instead create an online video-driven course on how to build online stores using WordPress (as an example!).

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