You Are Responsible for Where You Are in Your Life

     Few months ago, a friend told me he didn't want to invest in business because he "didn't want to wait 3to5 years to be rich..." he would rather enjoy her money now. The folly with this school of thinking is that the odds are, you are going to be alive in ten years. The question is whether or not you will be better off when you arrive there. Where you are right now is the sum total of the decisions you have made in the past. Why not set the stage for your life in the future right now?

Do you want to continue working 50, 70, 100 hours a week the rest of your life?

Do you want to be able to take time off whenever you want to, without worrying about what's going to happen to your business?

There's a saying in the corporate world: "Don't make you irreplaceable. If you can't be replaced, you can't be promoted." As an entrepreneur, this is still true in his own way. Let's think of "being promoted" as earning more and working less. You can raise your prices, but until you can remove yourself from being directly involved in doing the work that generates the income, there's always going to be a limit to how much you can earn, and it can only increase very slowly.

Passive income, on the other hand, is income that does not require your direct involvement. Some kinds of passive income you may be familiar with include owning rental property, royalties on an invention or creative work, and network marketing. If you want to earn more, work less, and have a decent retirement, you're going to have to start creating income streams that do not require your direct involvement. Whether you're just starting your business, or you've been running it a while, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom.

Thanks for reading.


Best Regards,

Christan Cabanilla Gappi