2 Ways To Evaluate A Passive Income Opportunity

Is your money working for you? Or are you working for money? One important reason why people struggle financially is because throughout their schooling life they are drilled into thinking taking a job is the best way to earn money. This results in people working for money, trading their precious time to money. Most are so caught up in this paradigm that some never consider a passive income opportunity.

And what is a passive income opportunity? They are simply ways for you to earn money even when you are not doing anything, even when you're asleep. You put in the effort once and you continue to get paid again and again without you having to put in more effort on your part.

An example of a passive income opportunity is you putting in the effort to build a successful online business. It continues to generate income for you as long as your business is running, whether you are there or not.

As Robert Kiyosaki said, passive income is your money working hard FOR more money FOR you.

Taking on a passive income opportunity is the key to financial freedom, but it's important to evaluate them. As we all know "get rich quick" scams are all so common these days, and there are so many out there. It's important to know what to consider so that our time is well spent on a passive income opportunity which will bring us real results in the long run.

Here are the 2 criteria's to evaluate a passive income opportunity.

1. Right Market

One important point to evaluate a passive income opportunity is to make sure that the market is of considerable size and has lots of growth potential. When you have a huge market, there is enough of everyone, and you don't face breakneck competition.

For example, the personal development market is an US$64 billion market. And just how big is 64 billion?

Let's say you have 1 million seconds of free talktime for your mobile phone plan.

Assuming you use the phone 24 hours a day everyday, you will use up your 1 million free second talktime in 11.5 days.

What if your plan gives you 1 billion seconds of free talktime?

You will need 33 YEARS to finish using the talktime!

If it's 64 billion, generations after generations from your family will be able to use your free talktime.

The personal development is one example of a very large piece of cake. You take a knife and make a cut, the residual on the knife itself is A LOT. You do not even have to make a slice! Taking on a passive income opportunity in this market is an excellent way to go.

2. Right Guidance

To make full use of a passive income opportunity and to achieve results quickly, it's imperative to receive the right guidance from people who have already achieve success in building streams of passive income.

If Robert Kiyosaki did not have "Rich Dad" guiding him, do you think he would be able to achieve his current standing today?

I have spent a year and a half trying out passive income opportunities on my own. My first attempt is opening up an online retail store selling wooden toys, but I have no mentor to tell me that wooden toys is a highly competitive arena and my small little online store will be competing against giant online wooden toy malls which buy their supplies in bulk and sell them at prices which I couldn't compete in. I wasted an entire year's worth of effort and money.

Mentors are VERY important in helping you take the right directions and the mistakes to avoid when you take up a passive income opportunity. You will save SO MUCH time and effort when you leverage on your mentor's experience.

Conclusion

From this article, I hope you realize the importance of these 2 criteria's when evaluating a passive income opportunity. Make the right choice, don't waste time and leverage whenever you can. All of us have only 24 hours a day, so spend them wisely.

Kai Wei has found the right Internet-based passive income opportunity. Competing in the $64 billion industry of personal development and having the right mentors and resources to guide him, Kai Wei is very well on the way to building a sustainable stream of passive income.

Kai Wei is also actively looking for team members to take advantage of this passive income opportunity. If you think you are up to it, please visit OnlineSuccessBiz.com [http://www.onlinesuccessbiz.com].