Income

There are all sorts of ways to make money. Hourly, transactionally, and passively.

Passively is by far the hardest unless Granny has land with gas royalties.

Hourly is the easiest. Easiest because you show up, do the work and get paid.

Transactionally is tricky because once you close a deal you’re unemployed until the next deal shows up. (Like flipping houses)

Some solve this by creating a business. A business is a system for generating transactions. Transactions are the lifeblood. If the system falters you’re out of business. Building a profitable business has a high failure rate but creates tremendous wealth if you can pull it off.

Building a business that pays you when you’re asleep or on vacation just means your system is awesome. Awesome because the transactions happen in a more automatic way.

(By the way, buying a franchise makes you a high paid manager... If you’re willing to give up margin, buy a franchise...in a few cases, you can make a pile.)

Building it from scratch is super hard. If it wasn’t everyone would do it.