Part 2: Passive income - building your empire
Now that you have read part 1 and learnt why and how passive income is not always a money maker, Daniel Priestley will now explain how you can build your empire and the options that will make you more wealthy in the future.
Building your empire
Building an empire is the failsafe way to wealth, power, influence and fulfillment.
Building an empire requires you to commit fully to something that you will never turn your back on. It requires you to take a stand for something, to have a vision, to enroll others in your world-view and to keep pushing the boundaries of what’s possible.
When you build an empire, there will be things that happen within it that happen without you being in the room – sales get made, rent comes in, fees are paid, royalties are collected – however it isn't "passive". You can never turn your back on your empire, it will always be something that you are building and protecting.
It will be the source of joy, frustration, passion, fury, boredom and exhilaration. It will be an extension of your authentic self, a piece of living art in the world that is never quite finished.
All the examples who get pointed out as beneficiaries of "passive income" are actually empire builders. Richard Branson doesn't have passive income, he has the Virgin Empire. Donald Trump didn't create a big “passive income” machine, he built a property empire. Warren Buffet goes into his offices at Berkshire Hathaway each day and builds his empire, he doesn't sit back thinking about how great it is to have his “passive income” sorted.
The quest for passive income brings out the juvenile desire to shirk financial responsibilities. It’s a desire to “get money sorted once and for all so I can get on with life” and of course that never happens.
The quest for building an empire requires you to run head-on at the challenges of money, business and work in the knowledge that it will be like this until the very end. The empire builder must chose to play an inspiring game, because the game will never quite be over as long at they have air in their lungs.
It might sound pedantic, it might sound like a slight of words however there is a chasm between the inspired person who goes out to build their empire each day and the sad group of people who are delaying life while they get their “passive income” strategy in place.
The quest for passive income ends in disappointment, building an empire is an inspired journey that brings you closer to the work you were born to do.
Want to learn more?
To learn more about what it means to build your empire and become a Key Person of Influence, they’re running an 8-hour strategy day on the 5 steps to build your brand and raise your profile in your industry. With 5 world-class speakers and the event being held at Melbourne Convention and Exhibilition Centre and National Institute of Dramatic Art (NIDA), its set to be a great day.
Netregistry is a key partner of this event and as Netregistry customers, you get 40% off the retail ticket price, with sale ticket prices starting from $24 for general admission.
Book your ticket for the Sydney KPI 8 hour Brand Accelerator | Business Strategy Day.
Article written by Daniel Priestley. Best-selling author of Become a Key Person of influence, Daniel has a multi-million dollar global business and advises startups, fast growth companies and charities on how powerfully position themselves in their industry.