If you're like every other red-blooded human being on this planet, then the thought of making money while you sleep has definitely crossed your mind.
Yet, we've all been through what David Sharpe has coined as the guru offers of earnings on the Internet without investments are real. Everyone thinks that making money online, while you're in a restful slumber, is just a dream that can never actually be realized. However, it's clearly not. In fact, not only are people doing it all around the world, but the scale of those doing so is increasing rapidly.
However, to most who set out to achieve this goal, getting there isn't simple nor is it straightforward. The truth? Most people give up. They throw in the proverbial towel. And call it quits. Because it's hard.
Scratch that. Now, I don't say that to scare you in the slightest. I say that to set the expectations. But, if you're willing to dig in your heels and grind, the world truly can be your oyster.
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Not only will you start earning some side hustle incomebut ideas of making money on the Internet 2020 could also one day replace your full-time income entirely. To me, that's the true definition of financial freedom. While an active income will pay your bills, it won't afford you the luxury of time.
Liz Benny, the self-professed Queen of Kappowwho's internet business real earnings a proverbial cash money machine using three automated webinars, who not long ago struggled to come to grips with online marketingis a firm believer in income automation.
Today, Benny is the definition of success, so much so that she's been able to launch her own mastermind group.
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I talked to Benny at length to garner some insight into the what some would call the often-seedy world of internet marketing. My biggest question? Not only how can you make money while you sleep, but how can you keep it real and stay authentic while you do so.
At the end of the day, making money while you sleep is just another term for passive income. It simply pertains to money that comes in every month automatically, without very much maintenance required.
Most people think about real estate rental income as passive income.
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But, there are so many other forms. The reason why passive income is so important is because time is greater than money. It's far more valuable than any amount of money because it can never be re-created. Once it's spent, it's gone.
And there's virtually no way to exit the rat race when you're an employee who directly exchanges your time for money. Sure, unless you're a top executive at a company like Apple or Amazon or Facebookyou're all set. But, for others, the struggle is most certainly real.
Passive income automates your earnings so that it requires little to no maintenance on a monthly basis for that income to continue to pour in.
It's a departure from one-on-one services toward products and businesses that can operate almost automatically.
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The point? Free up your time so that you can focus on building multiple streams of income rather than being a slave to the 9-to-5 hustle.
Now, that doesn't mean you have to completely avoid side hustle businesses where you're providing a high-value service. If you're in a monthly struggle where you're reliant on that paycheck just to survive, extricating yourself from that situation first and foremost would be the most important goal to achieve.
In my conversation with Benny, my goal was to really understand the mindset and the principles at play that would allow a person to fully automate their income. Literally, to make money while you sleep. My biggest concern and question was, could anyone do this or was this only something that only "gurus" could achieve.
Her first webinar called Social Monkey Business was literally filmed from coffee shops and while staying at a friend's house. So how does a person go from one extreme to the other? How do you get rich or make money fast without spending years entrenched in online marketing? That's not to say that anyone can do this. Not just anyone can earn seven figures online. There's a mindset at play here. For most, even a few extra hundred dollars per month would make a significant difference.
Related: How to Become a Millionaire by Age 30 Mindset and principles Speaking about passive or automated income without first addressing mindset or principles won't do the subject justice. The truth is that most people have a mental block.
They think that certain things aren't possible or attainable when in fact they are once you shift your mindset. Oliver Talamayan focuses very much on mindset shifts and principles. Like Benny, Talamayan is focused on the underlying nature of your thoughts and how they propel you in one direction or another.
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Harbor positive thoughts and you'll reap positive results. But, allow those negative thoughts to fester and you'll quickly find yourself in a steep and steady decline.
How do you ultimately make the shift from a negative mindset to a positive one?