Developing Passive Income
Bryce Allen
Author Bio
Bryce Allen is an author from central Minnesota. Bryce enjoys teaching and training martial arts. In addition to the fighting arts, Bryce writes on many small business and entrepreneurship topics. Born in 1989, Bryce grew up in a small town in rural Minnesota. Bryce graduated from Saint Cloud State University with a bachelor’s in Political Science and Mass Communications.
Description
Passive Income is your ticket to financial independence. This book will get you there.
“Developing Passive Income” is a practical, no-nonsense guide to developing and maintaining passive income. This book covers a variety of different income sources in depth. Paying particular attention to beginners on a budget, “Developing Passive Income” goes way beyond what is normally covered on this topic.
In this book, I go over a business model I created called the “Founder’s Model.” It is sure to get your start up going full speed.
If you are sick of reading the same blog post on how to make money online over and over, this is your book. I don’t sugar coat anything, or guarantee thousands over night, but I show you how to develop real income in the real world. I have used many different methods to earn passive income, and they are all covered in this book.
1. How to monetize your hobby or passion
2. Rental Properties
3. Investing
4. Blogs, Websites, and information products
5. Outsourcing
Many more!
Written in a digestible and light hearted manner, this book delivers passive income ideas that cannot be found elsewhere. This book takes an honest look at low cost passive income options… and the work it will take to succeed.
Book excerpt
Passive income may seem like a fantasy to many. To be honest, it felt like a fantasy to me. It was something that only made the rich richer, and if you didn’t have money to buy real estate or invest, it was impossible. It wasn’t until I did a little soul searching, a whole lot of research, and some trial and error, that I realized that passive income was my ticket out of wage slavery; the ‘matrix’ so to speak.
There are low cost passive income opportunities in a lot of places. It takes a lot of hard work and persistence, but it is possible… and it is awesome.
I was a year out of college and I had zero luck in finding a job. I wasn’t even asking for much, a modest salary and some benefits. That was all that I was looking for. What I found were hourly corporate jobs that asked a lot, gave no responsibility, and paid the bare minimum. Or worse, retail jobs that I had no interest or desire for. This has become a reality for a lot of people.
However, I persevered. I sent out resume after resume to all sorts of different jobs. I even got a decent amount of interviews. Something just felt off. I worked my average corporate job in sales for a while. I barely made any money and I was not satisfied… with anything. I woke up in the morning and my first thought was always along the lines of, “is this really what I am going to do for the next forty years of my life?”
Ultimately, I realized that regardless of how satisfied I am with my “career” I would need to generate money on the side in order to live the life style that I wanted. I wanted to be in control of my life. If I needed to quit my job for whatever reason, I wanted to be able to do so. I wanted to spend more time with friends and family. Most importantly, I did want anyone else to control if I succeeded or failed.
I wish I could say that it hit me all of the sudden in a crazy incident that changed my whole life… but, unfortunately for me, it was a very slow process. The way out of the daily grind is not easy or quick, but for me and many others, it is worth it. It started when I heard someone ask an interesting question… What would happen to me if I suddenly lost my job?
My automatic answer was “find a new one.” Then I started to think. I thought about how my livelihood was being completely controlled by my supervisor. He could fire me and leave me without income at any moment. I know there are checks and balances in place via the government, but at the end of the day, he had control. That was scary. I knew that I needed some sort of safety net, and not just any safety net. I needed one that I was in complete control of.
Passive income is how I did it. I spent most of my time outside work figuring out ways to work for myself! I worked hard, and then I reaped the benefits over and over again, unlike a traditional job. I used several different methods of generating income to make this happen. Pretty much all of them fit under the definition of “passive income.” To be honest, it doesn’t always feel so passive, so if you are using this an easy way out, find another book. Make no mistake, developing and maintaining passive income is difficult.
I believe that passive income should be pursued while you are still employed traditionally. It gives you the flexibility to make mistakes and adapt. Having a regular job will support you while you develop a few passive income sources. A lot of people don’t even leave their jobs once they have a solid passive income, which is perfectly fine. Passive income can be very helpful when attempting to augment your current traditional income.
Working for yourself isn’t for everyone. A lot of people value the security of a 9 to 5 job. Even an hourly job can offer some peace of mind. However, I would like you to think for a second, what are you creating? Are you living the exact lifestyle you’ve always dreamed about? Do you feel good about what you accomplish every day? Are you properly compensated for what you do on a daily basis?
For me, the answer was simple. I needed to create a network of passive income sources that consisted of different things I was passionate about. Writing, instructing, and investing. I knew I wanted to pursue these things, but I also knew that it was hard to make a living from just one. So here we are.
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