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Why I Will Quit My Job for a Passive Income

Why I Will Quit My Job for a Passive Income

By Pat Flynn on

There are many reasons why we all want to quit our 9 to 5 job. But how many reasons are there for you to believe you can honestly do that? The answer is: millions. Millions of dollars, millions of opportunities and millions of ideas are just waiting for people like us to embrace. I’ve put my foot in the water, and I have to say, the pool is nice and warm – and I plan to dive right in. Are you coming with me?

The Power of the Internet

Imagine that you own a store in your local mall that sells, i don’t know, vitamins. You go to work at 8:30am, check the inventory, lay out new merchandise, and open your doors at 9:00am. The mall closes at 7:00pm, and you stay later to clean and do some paperwork. How many people walked into the store during those 10 hours? How many of those people actually drove to the mall just to buy your vitamins? Probably not too many. The doors were open for 10 hours, but you actually stayed and worked for 14. Probably not your idea of starting your own business.

Now – imagine you have a product. Let’s say, a how-to book you wrote called “The Best and Healthiest Vitamins to Lead a Better Life.” Better yet, it’s an e-book (electronic book) that you wrote on your computer.  You start a website and start to sell your book on it.

How long are your “online store doors” open? 24 hours a day, 365 days a week.

How many people are on the internet and can easily visit your site? Anyone who has a computer. Billions.

How much money did it take to open your store? Just enough to start the website.

Who visits your store? People who want to know about vitamins.

How much paperwork do you have to do? Almost none whatsoever.

How much profit do you make on each book sale? 100%.

Lastly, how much time do you need to be “attending to your store?” Again, almost none.

The Beauty of a Passive Income

Earning a residual income is much different than earning a standard paycheck from a 9 to 5 job. Obviously in a 9 to 5 job you work for 8 hours, so you get paid for 8 hours. That’s that. A residual income earns you money non-stop. You may have put in 40 or more hours of work into the source, but the source is now earning money for you while you do little or even nothing. Then you can keep adding new sources and have multiple streams that put money into your pocket.

The best part is that you are earning money and still have your time. You aren’t at work, stressing under your boss’ orders. You could be going to the gym, playing with your kids, running errands, all while earning money at the same time. Isn’t that a crazy thought?

That is why I really want to quit my job. Not so much for the infinite amount of money that I could earn (depending on how hard I work), but for the freedom I would get as a result. Freedom from a boss, freedom financially, and freedom to spend time with my family and friends.

A Question to You:

So what’s really keeping you from earning a passive income online? If you already earn some extra money online, what was the hardest thing to do when starting?

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