Last Updated on August 23, 2020
Are there people who earn considerable income by setting something up and then raking in income with minimal additional work?
There is no such thing. It’s a nice fantasy that some people want to believe. In the real world, every business requires as much competent care, nurturing and feeding as a new baby.
We have read a lot of ads for a “$39.95” or other cheap book, course or video that will give the reader a secret algorithm or other wonderful plan to set up a highly profitable, no-work, on-line business. The plan is to set it up, let it run itself and then go to the beach as you earn a lot of money forever more. Can you do this with no more effort than sunbathing and sipping tequila sunrises. No way Jose!
Leave it alone for a week, and it’s dead. In my books about real estate for instance, I say, before you buy anything or make even one deal, spend a couple of months looking at 100 comparable properties for sale and sold. Become an expert. Go into any business deals or any investment in ignorance of the market, and the odds are you will lose your shirt fast.