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Why You Need to Risk in Order to Make a Passive Income Online?

By The 1-Hour Workweek 3 years ago1 Comment

risk in business

Building a Passive Income Stream Online is a very common goal for internet marketers, business owners and people with entrepreneurial mindset. But, is it easy to build Passive Income Sources? The Answer is No, because it requires risk. The bigger your Passive Income goal, the bigger the risk you need to consider. However, think of this: when you just stay with your typical job and do nothing to build any Passive Income Source, you are risking even more.

You risk being leveraged and not getting the kind of life you really dreamed of. When you are working for somebody, you are just building his passive income dream and not yours. Now, does having Passive Income Stream online worth risking your time, effort or even your money? The answer is YES, because the main objective of building passive income sources is to attain the kind of life most people, if not all are dreaming of— an abundant life with time freedom and financial freedom.

Every endeavour intrinsically involves risk or the possibility of losing something of value, weighed against the potential to gain something of value. Building a Passive Income Stream may it be online or offline also carries risk because it involves investments of time, effort and money. That is why it is very important that if one wants to build Passive Income Steams, he must be determined enough and he must willing enough to risk and invest time, effort and money if necessary. The problem mostly with people is that they just dream and they just keep talking they want to build or have passive income streams /sources yet not doing anything to actually make it happen.

Why? Because they are afraid to risk and when they hear the word risk, the “big chance of LOSING” is the first thing that comes to their mind. They over-estimate the likelihood of something going wrong and they under estimate their ability to handle the consequences of risk. Their fear of failure is bigger than their fear of not achieving their goal. Some also tried and failed once or twice and then decided to quit that fast not even considering that the next try could be a grand success. Breakdowns create breakthroughs, there’s always beauty in the breakdown and it just depends on how we look at things. Just like the message of a prevalent adage “Take risks: if you win you will be happy, if you lose, you will be wise.”

shutterstock_80486740Every decision to try and every failure we make is a lesson to us, we gain knowledge and experience which are keys to success. It’s better to risk and fail than have so much regrets when you get old and you think of the days where you just passed up with the Passive Income Opportunities that once came your way. We must realize that our chance of getting success is bigger when we risk and try and that we are risking more when we don’t risk at all. Positive and daring mentality is really essential for people dreaming to build Passive Income Sources. Successful people with passive income streams took big risks in the past knowing they might fall hard however they also know they might succeed more than they ever dreamed of. It is just up to you if you focus on the possible losses and failures. Just remember that the more you focus on something, the more it is likely to happen. So why not focus on positive outcomes and think of great ways to achieve your Passive Income Goal? Another important thing to keep in mind: when we risk, we need to know and believe that what we are aspiring is worth risking for. Having a definite purpose /reason of doing things will keep us motivated all throughout the process. We need to have that strong belief so that we can go through any obstacles, difficulties and failures we might encounter in the future. Believing in ourselves, believing we can achieve what we want is the first step to success. When we truly believe we can and when we clear our minds of “can’ts”, we won’t make excuses anymore instead, we will make outcomes.

Remember when you don’t risk and try something new, you are risking more. When you risk, you have higher chance of succeeding. When you don’t even try, you actually failed and lost by default. In building passive income sources online, one must be careful also in choosing the vehicle to be used because each and every decision you make entail some degree of risk. You must study first one vehicle and focus on building passive income through it before building another one. When you fail to prepare yourself on whatever you plan to undertake, you are then preparing yourself to fail. So avoid overwhelming yourself and plan tenaciously to lessen the risk of failing. If you want to know some passive income ideas and what those passive income vehicles are, you can read our previous articles:

Some ideas of passive income require big risks and involve investments of money where you let your money work for you and other vehicles just require so much time, hard work and dedication. It’s up to you how much you are willing to risk , how much time, effort and money can you risk to make your Passive Income dream come to reality. Finally...

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 The 1-Hour Workweek

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I’m Tarence Wade, M.D. Even though I’m trained as a medical doctor, I’m also known as “the wealth doctor”. I teach network and online marketers how to save time, save energy, build health & happiness and create multiple streams of residual income…with my 3 step success formula. I have taken over 50 internet marketing courses. I have read and listen to many books and audiobooks…and I have attended at least a dozen seminars in the internet marketing space. I have spent the last 8 years, over 6,000 hours and more than 1.6 million dollars of my personal income as an online marketer figuring out a success formula that generates me multiple streams of passive income that works for me and that will work for you as well. And I’m here to show you how.

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