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I had lunch with HW yesterday and this is the first time, we really, actually met up and talked over lunch even though we have know each other for almost 10 years. HW left his previous company, SQ, 2 years back. He joined WBG, a MLM company 4 years ago. He took almost 2 years to generate enough income from MLM to surplus his fixed expenses before he make the big leap away from monthly stable income from SQ. We talked a lot and covered many subjects. One of the topic discussed were about passive income and financial free. Firstly, we needed to get our definition correct. What is Financial Free? Financial Free mean we do not need to worry any bit about our financial FOREVER! It's not just "for now" or "we can manage", but it goes beyond all these! Financial Free, to me, is I have enough passive income that cover my expenses perpetually and I could generate extra for me to use freely without worrying if it will come again tomorrow. Now, what is Passive income? Some business owner told me he is generating passive income now as he spent his precious time talking to me because he have a team working for him and he is earning money at that moment without him in the office! Politically, he is correct. However, to me, Passive income goes beyond just not been at the office; it's the notation that one do not need to be present in their business AT ALL! Take note of my words, "AT ALL". Remember Rich Dad Poor Dad mentioned about ESBI quantum . . . Some Self-employed had mistaken themselves to be a Business Owner. They though they own a provision shop and hired a shopkeeper to help them, and when they were away to run errant, their shopkeeper helped them to look after their shop is equal to passive income. However, he did not move away from from left to right quantum yet; because if you ask him to take 1 month leave, he will sure freak out! For business Owner, they are mere a step ahead and nearer to passive income. However, they too, unable to take long leave, doing nothing and let their company run by itself! So, my definition of passive income model is, I do not need to attend to it and yet, it auto generate income for me! Thus, how to achieve it? INTERNET MARKETING! Yes! Internet Marketing! Just imaging . . . 1. You have the whole world as your market place. 2. All transaction can be automated including: payment, comments, contents, viral marketing, others . . . etc You don't need to attend to it. Once all established, begin heavy and massive marketing at initial state, and once it is established, it's automatic! Thus, I urged all new entrepreneur who wanted to start their wealth building with little or low investment, to dive into Internet Marketing. I have created several site and doing heavy marketing on it via pay-per-click, articles submission, signature and many other ways and once it is well-known, the rest are automatic.
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