Lesson 4 – Fast Money Vs Slow Money
In this lesson I want to address one of the areas that causes the most disappointment and failure in the online world.
If I asked any of you reading this right now what was the reason that you were here you would say that it’s because you want to make money. Not surprising because we all want to make money online.
However, from my experience of working with my subscribers and coaching clients over many years, it’s not quite as simple and clear-cut as that.
A good proportion of people looking to the Internet are doing so in the hope that they will make money now. And not only now but without any prior skills or experience of doing business online.
Now, if that’s you please don’t think I’m critizing you or anyone else here – far from it. It’s a sad fact that lots of so-called gurus are peddling the message these days that it’s possible to make money online just by following their push-button system which they’ll tell you all about if you buy their course.
They are preying on vulnerable people who because of the state of the economy or some other mis-fortune need to find a way to make a living quickly and they have been told that the Internet is the way to do it.
So I want to tackle that question first before we go any further.
OK, If you got my ebook “Online Income Fast Track” you’ll have read about the two sides of the equation namely, the need to make money now or the desire to build an income for the future.
If you need to make money quickly, the Internet can help you to do that. What it can’t do is make lots of money for you immediately.
In my book I describe several methods for earning money online by providing a service. When you are providing a service you are generally exchanging your time for money so you can earn some money as soon as you get a customer for your service.
In my ebook I describe several ways that you can offer a service so I won’t repeat them here. If you didn’t get a copy already you can download a free copy here.
Having discussed the make money now option let’s look at the ‘build an income for the future’ option.
Make Money Slow (but a lot more)
The methods described in the previous section allow you to make some money very quickly. This is useful and very necessary in many cases but it does have one big drawback.
You are exchanging time for money in most cases. Yes, you can build it to a point where you outsource the work to other people and you just manage them but most people don’t feel able or confident to get to that stage.
When you are exchanging time for money, your potential income is limited by the hours you have available to work. We all have to find some time for sleeping, having something to eat throughout the day and lots of other tasks which only leaves so much time to spare.
The real benefit of the Internet is that it allows us to build a business. Having an online business allows us to arrange things such that we can make passive income.
Passive income means money coming into our bank account without us having to actually be there making it happen. A common expression online is “The Internet Lifestyle”. The definition is different depending on who you speak to but it basically describes a situation where you are free to do what you want, when you want and where you want.
There are various ways of achieving that online which I’ll be explaining in these tips over coming weeks and months so be sure to stay subscribed to my Trevor’s Tips subscriber list.
For this lesson I just want you to be aware that this type of lifestyle is very possible for you if you are prepared to learn how to do it and more importantly you’re prepared to take the necessary action to make it happen.
Sadly, as I mentioned in the earlier lesson on mindset, nothing happens until we take action but when we do our lives can change beyond all expectations.
Your goal at this point should be to get to the stage as quickly as possible where you are making enough money to pay the bills with some to spare to start and build a real business online.
A business that will pay you for the rest of your life.
In the next lesson I’ll be explaining something that I call your “Freedom Figure” and why it’s important to your online career.