Maybe you’ve already read The 4-Hour Workweek or The Lazy Man’s Guide To Living a Good Life and you saw the stream of what you want:
To make money, travel around the world, and do the things that lights your soul on fire.
But before we actually begin with that, let’s go over THE TRUTH ON MAKING PASSIVE INCOME ONLINE.
What does it actually take to overcome the hardships that you’re going to face and what you exactly need to do to take your life, your business, your well-being, and your happiness the next level!
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FULL TRANSCRIPT
A lot of people nowadays go out there planning and strategizing to create an online business.
What they hope to happen is that to generate enough income to either travel around the world..
To do the things that they love to do and to spend more time with the people that they care.
But before we actually get into that, you guys gotta understand that there are certain things in your business and in your mindset that you need to consider first before you jump into it.
So what exactly does it take to make passive income online?
Does passive income online actually exist?
When I first heard about making passive income online, the whole idea I had about it was, “to make money while you sleep eat or shit.”
That’s what I heard about it and that’s what people told me about the idea of passive income.
Then when I was 18 years old, I met one of my first mentors.
You guys already know that part of the story..
My entire life was forever changed.
I understood that as long as you know how to give value with or without you optimizing your business structure, you could start attracting success and abundance..
You could create the passive income that allows you to live the life that you want.
But today, we’re going to discuss about the concepts that I didn’t know until I actually went through the entire 4-hour workweek journey.
Concept #1 PASSIVE INCOME ONLINE EXISTS, BUT ONLY TEMPORARILY
The first concept is the idea that passive income online indeed exists.
But here’s what you guys gotta understand, it’s only temporary.
You’re probably wondering, ‘so, what do you mean, Mike?’
I once thought that I could just build something once and I never have to work ever again!
I thought I could just live the life that I’ve always wanted to.
But here’s the thing about passive income online.. THE MARKETPLACE DOESN’T WORK LIKE THAT.
The only reason why money will get into you is in direct proportion to the value that you give to other people.
The problem with me when I was on this passive income learning curve is, the revenue will either go high or low depending on my presence or absence in the systems that I created.
It was good.
I built those businesses in the past where I was able to sell products online successfully.
And because of the systems in place and the team that I hired, it was automatically in place for business to come in and for income to come in.
That allowed me to tell the world about my journey.
But like I said in the past, it wasn’t an advice, it was just me recording my 4-hour work week passive income journey..
Like if you saw my old vlogs, I was swimming with whale sharks, jumping off of waterfalls, I was traveling non-stop and backpacking around the world.
The problem with that part of my business and in my life was, it was either going up in terms of revenue or it would start going low.
So let’s say every two or three months, I had to go back in and re-infuse my business with life to get it back to the next level.
It was almost like this little burst of effort.
THAT’S NOT NECESSARILY PASSIVE INCOME.
Because like I said, passive income is when you are not actively doing anything and you’re still making money.
Almost like real estate, right?
But we’re talking about making money online.
That’s why my first concept would tell you that passive income online exist, but it will only be temporarily unless you create systems or when you hire a CEO and CMO for them to actually build your business without you. That’s the only way.
Probably for some of you that are reading this, you might be thinking that you’re not gonna be able to hire a CEO or CMO,
Either you’re a beginner or currently at the intermediate level where you’re either working by yourself or a solo entrepreneur.
Or maybe it’s you and just a bunch of virtual assistants working for you.
When I got started, it was just me and a bunch of Filipinos.
It was awesome!
They’re amazing!
I love them so much and I visit them every now and then..
But one of the hardest things when it comes to scaling a business is no one will have more interest and to invest more in your business as opposed to you!
Because you’re the one that created the business in the first place.
So what I realized is, whenever I step away from my business, everything would always start declining.
It didn’t matter if it was in 30, 60, or 90 days or even a year..
What happened is, every single time I would leave, it would start going down because that’s just how the marketplace works.
The marketplace will literally weed anything that does not give it value.
And when you start seeing business in passive income, not in terms of you making money..
Ask yourself how you can create systems that creates value when you’re not around.
That’s when you could actually become successful!
Step #2 IT’S NOT ABOUT YOU MAKING MONEY, IT’S ABOUT CREATING SYSTEMS THAT ADD VALUE TO THE END CLIENT
Yes, it’s not about you making money.
It’s about how you can create systems that add value to the end client.
Because if you want to make money online, no one really understands that for you to make money, there has to be an exchange of value.
The people that you’re serving online, they want your solution more than they want the money in their pocket.
If you could start seeing business in terms of that and optimizing around that concept, that’s exactly how you could create wealth for yourself.
Like I said, when I got started I was just trying to make any way to make money online.
I would create systems and them do the work
I would set the entire infrastructure up and then I would have people manage it.
That’s when I would just leave.
That’s when I got time to do my salsa dancing, do Muay Thai, or travel around the world with my backpack.
I know, it sounds like the 4-Hour workweek, right?
Now what I found is that every single time I would come back, there was always something wrong where either my income was going down or the marketplace change or maybe Facebook ads do have an update..
And then all of the ads that I had to sell my stuff online was no longer available.
So then I was like, man, it was always like me in reaction because I was building it to make passive income online instead of actually doing it to give value to the world!
Now I want you guys to ask this question to yourself..
When you’re building your business and you want the passive income online, are you doing it for your own means?
Or you’re doing it in a way that actually consistently gives value?
So for example, my YouTube videos, these aren’t technically passive income.
Well, yeah, sometimes.
Now if I don’t make videos for several weeks, then the income from that channel keeps on coming in from the AdSense, from the courses, from my books, or from just affiliate marketing.
But understand that if I stop making videos for a couple months or even a year..
If I stop providing value to the marketplace and I just started going on a decline, then I would just get weeded out.
Because I don’t deserve to stay there!
And even though it’s fine because I have a team of people running my ads, running the different businesses that I have, or working with the clients that I’m serving..
This part of my business wouldn’t necessarily be passive income because of the fact that I stopped working and in giving value to the marketplace.
Step #3 IT’S GONNA TAKE A LOT MORE WORK AND EFFORT
When I had this goal of making passive income online, no one ever told me that I was actually gonna be working 60, 70, 80, or 90 hours a week just to get this up and running.
And when your initial goal is to make passive income online but you don’t have the work ethic, the discipline, the habits, the mental fortitude, the ability to go through failure, and the ability to understand that this is going to suck because business is hard..
You can make a lot of money in a short amount of time, but it’s not necessarily going to maintain itself!
What’s the point if you’re traveling around the world and you go back to your laptop and every single time you go back there, you’re almost worried and wondering if you’re still making money..
Or if your business is going down, if your ads account got shut down because you’re not necessarily focusing on the value, but you’re just focusing on how you can make money.
I can’t tell you time and time again that people just focus on the money aspect of things where they don’t focus on the value.
And because of that, their business gets pulled off from right underneath their feet.
I’m telling you, man, if you’re young and you don’t have a family or if you don’t really have responsibilities. .
Or maybe you already have a family and you have big bills to pay or any of that..
To build the business based off of just passive income would be a disservice to the people that you care about because you’re income will not be consistent.
I talk about this all the time..
You’re not in the business to make money this month or in the next 90 days, or in the next year.
You have this short amount of time in your life to make the most amount that you can
to create the most amount of value that you can give!
Until you focus on shifting from making passive income to consistently adding value to the world, that is the only time that your passive income will go up.
THE 2ND POINT OF THE CONVERSATION: THE ONE QUESTION THAT YOU NEED TO ASK YOURSELF
Understand that it doesn’t take that much to live your dream life,
Especially if you have a minimalistic mentality like me..
I study a lot of stoicism and minimalism.
I don’t really need that much to be happy. I just need my same-same but different t-shirts.
I just need to have an awesome community of people around me, I need to just be surrounded by entrepreneurs that are thinking about on another level and not focusing on the materialistic goods or the ego that comes around with it..
And instead focus on value, growth and contribution.
Other than that, I don’t really need much.
Now here’s the second point of the conversation. .
When you realize that you hit your income goals and you’re living from your passive income like traveling around the world and seeing all the beautiful waterfalls, spots, cathedrals and you’ve realize that traveling on the other end of things when you do too much is really all the same.
Which leads me to the next thing that you gotta ask yourself:
What’s my purpose?
As you can see from my stories, I’ve already been living the 4-Hour Work Week last year and I realized that my soul wasn’t fulfilled.
My soul didn’t feel fed.
I didn’t feel excited anymore.
It was almost like a drug where you have it too much and you need a more high.
I stopped getting grateful for like seeing waterfalls or temples and I started wondering why the hell this is going on..
If you’re in the space of the 4-Hour Work Week, this is called The Void.
It’s like the universe’s way of telling you that your life is short.
You need to fill something up..
Your time, your effort, your mindset, and your gifts to actually create something that’s going to benefit the world.
Because if you think about it, we have such a short life.
The problem with most people is we’re too busy playing very small and that separates you from creating seven-figure business or 8 to 9-figure business because a lot of people..
They’re just very satisfied with a 10 grand a month business.
I’m not saying ‘focus on the goals, you can make more money!’
I’m just saying, if you’re going to create the impact that you want in your world, if you want to leave a dent in this universe like what I want to do and what a lot of my friends want to do..
You have to start BELIEVING and THINKING and BUILDING your life and your business in a way that’s going to CREATE A LEGACY not just for you, your family, or your friends but for the fact that you existed.
And because you didn’t just focus on passive income online, but you focus on creating something for the betterment of humanity.
That’s the only way that I feel our lives are really going to mean anything.
That’s the journey that I’m on right now that sometimes I won’t make blogs or videos because I’m actually working on building the client base side of my business.
I’m building up the systems and working on a bunch of different aspects that are working together.
Not just that, I’m also working with a team of virtual assistants as well as people in the western world..
From a sales team and marketing team, and man that’s been pretty interesting!
There’s definitely been a lot of growth because it’s on the opposite end of the passive income.
But like I said, this is the thing that FEEDS MY SOUL.
This is the thing that I see myself 5, 10 to 20 years down the road where I see the impact that me speaking on stages, helping people with their business, but more importantly helping people with their mindset, their limiting beliefs, and in getting them to the next level.
So hopefully that helps guys!
I’ll see you on my next blog!
And for more tips on how to make money online make sure you check out the following:
