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Today’s we will talk about the buzz round having a passive source of income. One of the common questions asked in business schools is “If you won the lottery today, what would you do with the money?”. How would you answer this question? Passive income is not an escape. If your motivation for having a passive income is an escape, you will most likely fail. Passive income is a fuel to expand what you are already doing. Trying to add fuel to what you don’t want is a recipe for self sabotage. You will give up before you get very far. If you don’t like your lifestyle, it is important to fix that first, don’t think you are going to escape it by creating streams of passive income. First have an active income sources from a work you enjoy and then you can build on top of that with passive income to serve people by value you are able to provide.
The real problem is your low standard and low self esteem. If you ready to do a job today which you do not like, then you have a bankrupt mindset. It means that you will never deliver your best service and hence your income will always be less. If you work from this mindset, your willingness to work for passive income will be overshadowed by your job frustration from the active income source. So before you get all hyped about setting up a passive income stream, pause for a moment and check your form first. Are you living with correct form right now, are you looking for fulfilment and happiness from your day job, are you doing your best work, do you feel motivated to do your work everyday because it is something that you enjoy? Sure you may have some tedious tasks every now and then, but what’s the big picture?