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I want to show you what books on passive income have blown my mind and exactly what big takeaways I gleaned from them – and in many cases, how I applied these to my businesses. This book started the search for passive income for 1000s of people around the world, including myself. I think though it may have fallen short in terms of really getting one super important idea into people’s minds…
This way you might be able to skip reading all of them, and instead just buy 2 or 3 of the classics. Also if you want to save some time, here are my 3 favorite passive income ideas I’ve come up with from reading all of these books. You have to hustle like a mofo and do an insane amount of work upfront in order to create a recurring stream of revenue that doesn’t require much ongoing work.
Use this book for inspiration…use this book to help you find your perfect passive income idea! Their coverage of picking the right product to sell online is also top shelf.
It centers on the whole problem-solution dynamic, this being the main thing you need to show/answer when dreaming up your ideas.
I mean designing your own product, sure, that costs money, but writing your own information product, costs almost nothing. The book is almost as good as my 15,000 word Case Studies article (joking).
Buuuuuuut, and this is a big but I can’t deny, what about your time?! Without this validation, I wouldn’t spend 100s of hours on this site now – or even the 7 hours it will take me to finish writing this article on best passive income books. If you haven’t read his book yet, do yourself a favor and grab it now on Amazon – get the Kindle edition, as it’s dirt-cheap and you can start reading his biggest lessons right now! Now I first want to say that not all the case studies in this book are of passive income businesses (eg you have people starting yoga studios, consulting businesses etc).
The biggest problem we had with this analysis, was well, paralysis. Now thankfully most passive income ideas don’t cost a lot of money to launch. When you work for yourself – or even worse, when you try to launch a passive income business in your after work hours – you can so often find yourself taking an eternity to achieve outcomes. And look, I’m not – and no one else is – saying Ferriss came up with this stuff, it’s just he was the first one to bring a lot of this info to the masses through his smart marketing. I bought this a couple years ago when I was in Amsterdam visiting family. I mixed quality family time with a lil Chris Guillebauejhdfe love in (can never spell Chris’s surname, but out of respect I took a minute to get the right spelling, it’s Guillebeau). You pick up this book and you dive straight into case study after case study of other entrepreneurs successfully executing on their dreams to start businesses that matter!Now admittedly, Kiyosaki’s money-making principles rely on hard work and expertise whether it’s to do with property investing or cash flow management, and have almost nothing to do with making money online (today’s preferred route to passive income).But his real world passive income system is still very learnable and attractive to people.Once again, I know all the stuff in this book pretty well now, but I still run over it frequently to jog my memory and use it to work out whether I’ve covered all my bases – kind of like a checklist in that sense.The book wraps up on the subject of autoresponders and is a favorite of mine, because the whole ‘build trust, then sell’ idea has worked wonders for me. Quite simply it was the first time I ever read – or maybe, ever fully grasped – the idea that money could make more money.
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Well, after spending north of 1000 hours reading the classics from Four Hour Work Week to the lesser known, but also great, books like Entrepreneur to Infropreneur, I’m well placed to share the top reads with you.