🔑There is no direct path to passive income, but you can achieve leveraged income.
🕑In the first six months, focus on learning and applying a key skill in your business.
💡After mastering the skill, start applying leverage by hiring a team or using systems and automation.
💼Being a business owner requires continuous learning and adaptation.
🌟Leverage systems, team, and capital to grow your business and achieve success.
Is passive income real?
—Passive income is often misunderstood. While true passive income is difficult to achieve, leveraged income is a more realistic goal.
What skills should I learn for my business?
—The skills you should focus on depend on your chosen business model. For e-commerce, learn product research and selection. For an agency, focus on sales and client acquisition.
When should I start hiring a team?
—Once you have mastered a key skill and have reached a point where your time is better spent on higher-level tasks, start considering hiring a team to leverage your business.
What is the role of systems in leverage?
—Systems are crucial for leveraging your time and resources. Look for opportunities to automate repetitive tasks and streamline your business processes.
How important is continuous learning and adaptation?
—As a business owner, continuous learning and adaptation are essential. Stay updated on industry trends, strategies, and tools to stay ahead of the competition.
00:00Passive income doesn't truly exist, but leveraged income does.
03:58In the first six months, focus on learning and applying a key skill in your business.
07:09After mastering the skill, start applying leverage by hiring a team or using systems and automation.
08:53Being a business owner requires continuous learning and adaptation.
09:39Leverage systems, team, and capital to grow your business and achieve success.
