Questions on passive income for 1st time entrepreneur?

[kieranperez]

IMPORTANT: This passive income business I plan on starting is purely and only a short-term strategic move I'm making to position myself to move out from home, get out of the toxic environment I'm in, fund the massive self-education I need (wasn't able to finish college after freshman year due to mental health issues), have the money to make certain moves I (may) need to make, and go in on mastering the things I need to master in order to move towards my life purpose (I don't have the skills, insights, knowledge, mastery, etc. to start yet) while still being able to have the freedom I need. This is purely a stepping stone to "the one." 

With that said, here are my questions:

• What expectations should I have going into this? I have 0 business/entrepreneurial experience.
• What are all the different forms of passive income?
• "Shippable" tangible products or online services?
• Is it best to calculate my goals, expenses, etc. to get a target income and then base my business model/plan/idea on that? (Hope that makes sense... if not, don't hesitate to have me clarify)
• Do all passive income businesses require capital to start? I don't get paid much ($250-$350 p/biweekly paycheck...  gotta love retail) now so this is important for me as I don't have the luxury to pay for these $1000+ courses and stuff. 
• What are some good examples of goals to have when first starting this type of business? What are some examples of realistic goals with passive income businesses starting out?
• What is your best advice for a first time entrepreneur?

Thanks guys!

P.S. Yes, I have seen @Leo Gura's video on "The Truth of Passive Income"

[Nahm]

2 hours ago, kieranperez said:

• What expectations should I have going into this? I have 0 business/entrepreneurial experience. Keep you dream of “the one” that you mentioned in you and in front of you by means of books, posters, your screen saver, everything. It’s a game of inspiration & motivation. Know how to change your own state of mind, how to change your mood. 
• What are all the different forms of passive income? Spend a few days googling, researching, Youtubing, etc. There are many. Read success stories and email that person your questions. 
• "Shippable" tangible products or online services? Either, but careful about any pyramid schemes which require you to buy product and house it. 
• Is it best to calculate my goals, expenses, etc. to get a target income and then base my business model/plan/idea on that? (Hope that makes sense... if not, don't hesitate to have me clarify) Yes, and ideally something you like doing. Whatever passive income avenues you pursue...keep that much bigger dream in mind. This will fund that, then that will fund this, etc. 
• Do all passive income businesses require capital to start? I don't get paid much ($250-$350 p/biweekly paycheck...  gotta love retail) now so this is important for me as I don't have the luxury to pay for these $1000+ courses and stuff.  There are people making six figures uploading T-shirt decals / designs. They don’t even make the shirts, or have any printing equiptment. They sell their patterns / iimages to online companies that print the shirt when someone orders it. (For example) The more start up capitol the better, but hunger / passion / inspiration / motivation always wins. Everybody thinks they’ll run the marathon. Most people never start. 
• What are some good examples of goals to have when first starting this type of business? What are some examples of realistic goals with passive income businesses starting out? It’s relative. A good goal now, sounds like it would be, to afford to move out. 
• What is your best advice for a first time entrepreneur Mindset is everything. If you get so mad you punched a hole through the wall, or so frustrated from failure that you’re just alone on the floor crying - and you still know you will do this - then you will do this. You will be so glad you did. Just go farther than the next person would go. Don’t ever quit on yourself internally. You are going to fail if you are going to succeed, and in hindsight the failures were the most pricceless learnings. Always know that today was just today. No matter how bad it was, or how much it just didn’t work out - that you can sleep, and you will feel like kicking ass again when you wake up. 

Do not: play video games, eat like shit, let anyone frustrate you, drink or do drugs, judge others, diminish yourself in any way, say you can’t, settle, try to “pull up” a friend to where you’re at to go into business together, break laws, shit on anyone ever, think you’re smart, underestimate yourself, underestimate what you can do in longer periods of time, stop learning, stop asking questions - and do not listen to anyone who says you can’t. 

You can no longer, and never again have a past. However you think about yourself is done. From now on, you catch your thoughts in any way related to your past, and let them go immediately. 

[aurum]

@kieranperez

You have to be really committed.

You don't have much in terms of resources at the moment, so I'd start small. Maybe just do some affiliate marketing.

Send me a DM.

[kieranperez]

5 hours ago, aurum said:

@kieranperez

You have to be really committed.

You don't have much in terms of resources at the moment, so I'd start small. Maybe just do some affiliate marketing.

Send me a DM.

I was hoping you’d see this hahaha 

Sounds good

[Nahm]

@K VIL lol.  Questions?