Yeah you read it right… some things in your business are not passive income, semi-passive income or even income streams that have been leveraged to their full extent.
The truth of the matter is, business will always involve some type of work. Whether it’s product development, social media or sorting out receipts at tax time, there will always be something that requires your time and attention. And just lately, members of the Perfectly Passive Profit Academy have begun their posts in the Facebook group with… ‘sorry, it’s not passive but…’
Stop.
Passive income isn’t a myth by any stretch of the imagination, but that’s not to say it’s ‘sit on your butt and do f’-all’.
It’s about balance. And here’s 3 reasons why ‘not passive income’ is just as important…
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Why Not Passive Income Reason 1: Enjoyment
If you have an idea for your business that brings you absolute joy when you think about it, don’t apologies for it not being passive. It doesn’t matter. The only thing that trumps passive in my business model is if that ‘something’ brings you absolute, unadulterated, unbridled JOY.
If creating your art or delivering your service one to one makes you so happy on the inside that you could squeal like a little girl on christmas morning, then continue to do it, just like you do.
Creating passive income streams and automating parts of your business should be about streamlining and creating freedom; not about taking away your passion and converting it into a monster machine to be managed. That’s just not what it’s about.
So if you love what you do, keep doing it.
The only thing I will say on this note is that if you’re actively enjoying those elements of your work, then you should be rewarded for them wholey. Implement passive income to satisfy your periphery customers, which will bring more cash into your business. But please do consider that when you do exchange your time for money; it should really be for top dollar. Those who can’t afford to work with you will still have options from your alternative income streams, so you’re not pricing anyone out, and as an authority in your field, you really should be paid your worth.
Why Not Passive Income Reason 2: Choices
A business should be about creating a lifestyle you love and, although people usually rate flexibility and independence at the top of the list, I personally feel like the biggest benefit to running your own business has to be the choices. The choice to do, or not do, the things that light you up. Instead of being told by the boss what you should and shouldn’t be doing as part of your role, you get the ability to choose what action you take each day.
And if you’re not getting that choice, and are still feeling like there are things on your ‘to-do list’ that are down-right shitty to get done, then sack them off… not literally of course. I mean outsource them. Find a way to stay in your zone of genius and smash the hell out of the goals you’re focused on.
If there’s things in your business that don’t bring you that zing when you do them, but do still actively create cashflow, like a one to one service that you offer but don’t really enjoy that much, then find a way to make it passive, automated or leveraged in some way. It’s possible, you just need to get creative.
So, all in all the rules for implementing automation and passive income in your business are simple: if you love it, keep doing it – if you don’t, find a way to automate it, pacify it or outsource it! And if you’re not sure how to do those things then come and join the school that’ll show you how, with the community to support you as you do it.
