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The guy who I look to regarding "passive" income is Harvey Brody and he says...
pretty much the same thing.
You have to get ONE. Get established. Learn what you are doing. Go through the process.
Heck, working out an agreement is like a tennis match...little changes are like the easy lob shots...and some changes in an agreement are like a Roger Federer serve...they come at you pretty dang fast and could do serious damage if they hit you in the "wrong" spots, eh?
You have to have an established BASE or FOUNDATION to operate from...so once you have the base laid down, then you can begin to build the rooms.
In our discussion about TOLL POSITIONS, you can get ONE, but you can be doing the "legwork", the investigating, the communication on the next and the next while you are putting the first one together.
Case in point: both Dien Rice and I are in the process of working on agreements for books out of print...and it is a learning process, a LEARN BY DOING process...and no matter what the outcome is, the going through the process makes us much better prepared for the next one.
I haven't yet read the link you posted to...but I will and add comments if need be.
So, on the surface, I agree that you have to have ONE solid passive income stream in place or you'll get a little puddle from your piddling.
Gordon Jay Alexander
PS. OK, I did read the article...and I agree MOSTLY with it. The thing that I might take issue with is:
"You have to consolidate all your capital, energy, and focus on ONE area and then maximize that opportunity so you can start to gain leverage on it."
I find myself saying, Yes...and NO. Yes to the focus of energy toward gaining a foothold...NO to the consolidation of capital. Why? When there are ways to obtain TOLL POSITIONS (which produce the residual "passive" income") for no capital whatsoever...and a minimum of time and energy.
I don't know Brian Kim, and most of his articles seem to be of a positive nature with his own reality added in. But, if you had a step-by-step tested and proven method, independent of personality...and you followed that; you could reasonably expect similar results. The problems come up in the "details" or the secrets.
When you are dealing with BLACK and WHITE, as you do in a contractual agreement, where every detail gets spelled out and it is clear who is getting what...they you have a better "system" to follow.
In acquiring and using Intellectual Property, you have to have certain things in place...OH, some people try to shortcut and steal IP and put it to work for themselves...but that's the whole point of Copyrights, Trademarks, Patents, etc. to give the IP owner some recourse when that happens.
So, and this is only opinion, I like what Mr. Kim says for the most part on his "motivational" site, I'm more inclined to study and look for less motivation and more HOW TO, from the people who DO.
Thanks for your post and giving us food for thought and discussion.
Last edited by GordonJ : September 23, 2007 at 12:33 PM.
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