How to Quit Your Job with Passive Income: The Ultimate Beginners Guide to Wealth and Riches with 12 Proven Businesses You Can Start Today by Dustin Heiner

Author:Dustin Heiner [Heiner, Dustin]
Language: eng
Format: epub
Publisher: Triune Publications
Published: 2016-11-26T08:00:00+00:00

CHAPTER 12 : WORK ONCE AND GET PAID CONTINUOUSLY

CHAPTER 12

WORK ONCE AND GET PAID CONTINUOUSLY

“Too many of us are not living our dreams because we are living our fears”

- Les Brown

What do you think would happen if you asked your boss if he would continually pay you every month for your one hour of work? He would laugh you out of his office, right? I sure would laugh at one of my employees if they asked that question.

Passive income is not a boss. You are the boss with passive income. You get paid based on the amount of effort you put into your passive income business. As you devote your time to building streams of passive income, you can determine what is worth your time or not. Say you had a choice to spend one hour of your life in two different ways:

1. Making an item that you can earn a one-time profit of $100

2. Writing a song that will be sold for $.99 continuously every day for the next ten years

While both of these have a good outcome of income, the second way will bring you money continuously for the next ten years. After 101 days, you have already surpassed the $100 item and will continuously bring you money well beyond that.

Book Writing

The famous author Steven King utilizes the principle of working one time and getting paid continuously. Every day, he forces himself to write 2000 words for his next book. If it takes him 3 hours to write 2000 words, and a normal King book is about 300,000 words, he will write a new book in a total of around 450 hours. From those 450 hours, he will make at minimum $1,000,000 on his new book from the sales.

$1,000,000 for 450 hours of work is $2,222 per hour! Now that is just the start of it all. His books will be for sale for as long as anyone buys books so he will continually be earning passive income from the 450 hours of work until he dies. On top of that, each new book he writes earns him another $1,000,000and helps his other books to sell more too!

Patent And Licensing

Another idea is for you to create a product that can be patented and leased to another company. Imagine if you were the person who came up with the idea of the post-it note. Those are the little yellow sticky pieces of paper that all offices in the world use.

Create the product one time, patent it and then license it to another company to manufacture, distribute, and sell the product. You already did the work and now your product is working all on its own for you. No more work is required on your part since your work was done creating the product and you now own the patent.

Rental Properties

How do you think most millionaires made their wealth? Andrew Carnegie said “90% of all millionaires became so through owning real estate”. From my own personal experience with real estate, I can absolutely agree with this quote.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.