Secrets of the Rich for Passive Income Ideas - The Best Kept Secret of the RichPassive Income Ideas - The Best Kept Secret of the Rich Passive income ideas to some, may sound like a foreign phrase and to others, it's like having a "Snuggie" on a cold winter night... you get a warm, soft and fuzzy feeling. Since starting a business can sometimes appear to be as risky as walking across a four-lane highway in L. A.'s rush hour traffic... passive income ideas increase the reward factor and is why many make the great decision to look for and start a business of their own. The main reason, for some people's fear, is, according to the Small Business Administration, 80 percent of all small businesses fail within their first 5 years. Also according to the experts it normally takes 6 years in successful "traditional" businesses before you will turn a profit. That is after mortgaging your home, working from 8 until faint, eating Ramen Noodles everyday for years and practically destroying your health. Conversely though, you can't work a job and achieve financial freedom; Even if you're lucky enough to have a job for the next 25 years. According Robert Kiyosaki those days, for the vast majority, are gone forever. However there are new, innovative, passive income ideas for making money the way that the rich do. Read below as we explain what passive income is and why JP Getty's quote about leverage was Right on the MONEY! What does Passive Income Mean? Passive income allows you to perform a service sell a product once and receive payments over and over again for that same action. Eg. Investment property that you purchased once and your tenant pays you every month for as long as they live there. What does leverage mean? J Paul Getty's Famous Quote J Paul Getty (arguably the first recorded billionaire) said "I would rather have one percent of a hundred peoples' effort... than to "just" have 100 percent of my own effort". Bottom-line... you can not outwork 100 people? Now lets break that down a little bit. How many hours can you work in a day? Lets say you are an over-achiever, and you work 15 hours a day implementing passive income ideas. Also you are serious about your business and you are committed to doing whatever it takes so you resolve to working 7 days a week. That would total 105 hours per week. ~Not bad~ Now let's say that you have 100 employees, team members, reps, etc and each person only works 5 hours per day and only 5 days per week implementing passive income ideas that pay you over and over again for their efforts. That would total 2500 hours per week. Mouth Watering Huh! Questions: How long can you work 15 hours per day for 7 days per week? Who would earn the most money; you the one- man or woman band or you with a team of 100. Can you now see why passive income ideas coupled with leveraging are worth losing sleep over? Let the truth be told; Identifying Passive Income Ideas may be easier than you think. Although you do have to be careful, since more and more people are looking for ways to get rich, there are a few pitfalls you will want to avoid. The Good News! There are a few passive income ideas that don't require you to have good credit, you won't have to mortgage your home, you don't need prior experience (as long as you are trainable) and some offer FREE training and mentoring for now... It's all spelled out here: Article Source: http://EzineArticles.com/?expert=Ksenia_Strauss
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