Top Tips To Passive Income (Financial Freedom Mastermind Recap) 

Top Tips To Passive Income (Financial Freedom Mastermind Recap) 

Imagine a life of steady cash flow without the daily grind. Generating passive income opens up this possibility, whether through investments, property ownership or picking up side hustles. 

Last week at FitBody Boot Camp headquarters in Chino Hills California, Financial Freedom mastermind led by serial entrepreneur and  founder of Fit Body Boot Camp, Bedros Keuilian and Tony Stephan shared their tips on building wealth and financial freedom.  

Here are some top tips I gained from last week’s Financial Freedom Mastermind.  

Tip #1 – Know What Your Business Looks Like 

Knowing and defining your businesses products, people and processes is essential to grow your business to a passive income generating machine.  

Here are some key points and takeaways: 

  • Product / Service – the baby, often the blind spot. Your product or service should be intuitive for the customer, easy to understand and have several tiers. 
  • The People – Hire savage teammates, who play to win and want to crush and dominate. Not an employee who just does enough to maintain. 
  • The Processes – Know what marketing, lead nurturing, sales, accounting, leadership, customer retention processes and people that run those processes in line to reach your ultimate goal of passive income. 

Tip #2 – Invest in Yourself 

“Your business has so many great opportunities on the table. By focusing on the product and top tier version you can make 20% more revenue.”

Bedros Keuilian. 

Success without fulfillment is failure. Know yourself so you know exactly what success looks like for you!  Investing in yourself to improve your skills allows for more opportunity within your business. Self improvement will inevitably improve the way you interact and run your empire.

Tip #3 – Be Sociable on Social 

“People do business with who they know, like and trust.” Whatever your business venture it is wise to use your personal brand to connect and associate with your sphere of influence, customers and alike. People follow people, not businesses. Your personal brand is also what will create multiple streams of revenue. Here are some tips and motives to be more sociable on social: 

  • Teach the what and the why.  
  • Cannot teach the how on social, that is the product. 
  • Don’t post random content.
  • It’s not about the most followers but about the right followers. 
  • Standout by being real, raw, transparent.
  • Social connects, is real and resonates. 
  • One account is fine. 
  • Be relatable. 
  • Do not be vanilla – if you try to speak to everyone you will not reach anyone. 

Tip #4 – Convert Earned Income to Passive Income

Earned income is income we earn from our job and or business service. Investing earned income in passive income streams is an essential strategy for Financial Freedom. 

Investing in rental properties is a great way to generate passive income, You can also kickstart your rental property business by taking the plunge with Airbnb or apartment rentals. Real estate is a valid asset for generating passive income because it is tangible you can touch it, see it, enjoy it and if all else fails sell it! The goal is to create a steady flow of visitors and / or renters to generate passive income. Money made even while you sleep is the general idea behind passive income.

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