I live by two sayings when it comes to making money
1-Having money is all about having ideas, if you don’t have money you just lack ideas
2 – If you are willing enough, you will always find a way to make something happen
I have had great success in my life thanks to these quotes. No matter how well you plan for something, you should expect that you will have some challenges along the way. To get ahead in life you will need to overcome a few challenges on the way.
Now that I’ve got that out of the way, on to the fun stuff.
Building passive income is fun and rewarding when you do it right. There are points to consider and they are straight forward.
1) Do your Homework – Learn before you earn
Many people lack the knowledge to be really successful in investing and that is why they fail. There are money-making methods that require very little effort to maintain, but some initial effort is required to get the ball rolling.
Jumping into something without any knowledge whatsoever is a sure way to failure, DON’T DO IT.
2) Don’t invest in something based on the amount of money you can make.
Look for money-making ideas that cater to your strengths and personality type. For example if you are shy, avoid strategies that require you to make face to face contact. If you are not the people pleaser then something like that would not be your cup of tea.
Another example, if you are a detail oriented person that likes to see data, then maybe there is an opportunity for you in stock options trading, or real estate investing.
Take a note of your strengths and weaknesses, then choose a strategy that gels with your strengths. I used this technique to take stock of my natural abilities and this eventually lead me to options trading online and internet marketing. I love the idea of working from home.
3) Approach investing with an open mind
All you need to do is try. There are countless ways to make money. Once you find that strategy that works for you, push forward and don’t let the doubters get to you. If you have a strong passion or desire to do something, find a way to make it happen.
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.
Want to learn more about wealth building from scratch? Stop by Dale Poyser’s site where you can find out all about different opportunities to make passive residual income and what they can do for you.