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Are you thinking of buying an online course?
Online learning can be great, but you have to be careful when buying courses. If the course’s claims are too good to be true, they probably are.
In this week’s deep dive, I’ll explain why passive income companies fail and what actually leads to business success.
If you like this week’s deep dive, my full-length video and article go even deeper.
Any sale can be broken into three simple phases.
Phase 1: Attention: Here, you capture your customer’s attention and let them know your products exist.
Phase 2: Offer: Next, you ask your customers to buy your products.
Phase 3: Sale: If your offer is attractive, customers buy.
The main takeaway here is this. You can make a sale if you don’t have your customer’s attention.
The ‘gurus’ selling passive income courses promise the dream of earning money while you sleep. As a result, many people eagerly pay thousands for these programs, expecting quick business success.
However, these gurus overlook the crucial role of value and attention when selling products.
Entrepreneurs amass fortunes by providing valuable products or services in exchange for money. But creating value takes time.
This is where most passive income courses go wrong. You can’t create value in a weekend or a month, especially if you have no experience.
Many people who buy passive income courses have little money, experience, or attention. As a result, here’s what typically happens after they purchase a passive income course.
They release a low-quality product on a generic website overnight. Then, because their site gets no traffic, they make no sales.
It is possible to buy attention with ads, but many don’t have the necessary budget. Even if they did, few people would buy their products because they offer little to no value.
It takes most successful entrepreneurs years to create value and attention.
For example, The Rock’s tequila brand reached a $3.5 billion valuation in a year. But you can’t ignore the decades he spent building a massive following of loyal fans.
Similarly, Ali Abdaal earns millions from his Part-Time YouTuber Academy. But don’t forget the years he spent earning millions of fans and building a staff of nearly 20 people.
Ultimately, I urge you to resist the temptation to buy courses selling dreams that are too good to be true. Remember that entrepreneurship can improve your life, but it will take years to build the value, experience, and attention needed for success.
Check out my full-length video and article on the passive income scam.
I listened to a podcast the other day, and the guest said, “There will be a last time for everything.” He said we often take this truth for granted, only realizing it when it’s too late.
It got me thinking. What do I currently take for granted that I’ll one day miss? One example came from my two-year-old daughter.
Currently, my daughter refers to peanut butter as ‘PB puppy.’
My first instinct was to correct her. But then I reminded myself there will be a last time she calls peanut butter ‘PB puppy.’
When that time comes, I will undoubtedly miss this cute phrase. So instead of correcting my daughter, I’ve decided to enjoy ‘PB puppy’ while it lasts.
Thankfully, you can also apply this logic to less enjoyable experiences. For example, assume you’re frustrated about sitting in traffic. In that case, it might help if you remember that you’d likely give anything to be in this position when you’re old and confined to a nursing home.
With this in mind, what experiences are you taking for granted? And more importantly, how can you remind yourself to enjoy these experiences while you can?
DISCLAIMER: Please be aware that the information presented in this email is for educational purposes only and should not be considered as personalized financial advice. The creator of this email is not a licensed financial advisor and any decisions made based on this information are at your own risk. It’s important to consult with a qualified financial professional before making any financial decisions, as this information does not consider individual investment goals, risk preferences, or financial situations. Please remember that past performance does not guarantee future results, and all investments involve risk, including the potential loss of your initial investment.
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