Creating Income Producing Assets


Assume for a moment that you are sort on cash, but long on time.
  Not that hard to imagine that is it?  Many of us are in that situation.  However, you want income producing assets-- especially passive or residual income producing assets.  So if you can't buy income producing assets . . . create them!  Yes, create them-- make'em!

Spend the time (which you have, even if you don't have cash) and use the brainpower to develop an asset that didn't exist, but can and will produce income.  Remember "real wealth" is created from income producing assets (Wealth Creation and "Assets").

Examples of assets you can create include:

  • A book or song you write.
  • A popular website
  • A product you invent
  • A software program you develop

For more ideas, see my post: Passive or Residual Income

The real keys here are to:

  • Stop complaining about no money
  • Pull yourself away from the TV
  • Put on your thinking cap
  • Do something to help yourself and your family

Be prepared to fail a few times, just don't give up!

 

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Comments

  • 1/8/2009 12:29 AM Clair Schwan of Sensible Small Business Ideas wrote:
    Great post. This is sort of a version of what Reagan told us - pull yourself up by your own boot straps. Stop complaining and get with it! YOU are the one responsible for your own well being.

    It is the basis for one of my websites called Sensible Small Business Ideas. The whole focus is to encourage people to start their own enterprise (an asset that produces income).

    The website is: http://www.sensible-small-business-ideas.com/index.html and as of this date contains 10 profiles of individuals who have started small businesses and home based businesses (full and part-time).

    My personal belief is that there is no sense working for someone else and making them money when you can be making money for yourself. I also like the idea that self-employment gives you: control of your life; tax benefits; a business or product to sell; and, self-determination.

    With the Internet, there are many non-traditional businesses and products that can be developed for the marketplace, so starting your own enterprise doesn't necessarily mean that you have to be full time and quit your normal job. You can inch your way into something different and uniquely yours.

    Good fortune to all who have the courage to "plow their own field" instead of being one of them there 8 to 5 sharecroppers.

    Clair
    Reply to this
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