Today I share my 5 high income skills that will help you make passive income in 2020. These high income skills have helped me make my passive income ideas into a reality and now I make over $25K in passive income.
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I like to imagine the skills as a ladder and the more of these skills you master the higher you can climb towards that passive income. You may think you can take a massive jump to get there and you don’t need a ladder but if you take this approach you are likely to fall and get smashed before you have even got going.
#1 High Income Skill: Leadership. So by being a strong leader I was able to direct other people’s skills and talents into my business. This freed up a lot of my time and created lots of passive income for me. I could take some time off when I wished and not be worried about the business losing money. I could use that extra time to think about starting a few new side hustles.
#2 High Income Skill: Time Management. Quite often this time may be traveling too far for work or simply laying on the sofa watching TV being bored. I don’t know if you have checked out the documentary on netflix called ‘the social dilemma’ but I found it fascinating how social media is stealing our time from us. This just makes time management more important than ever. Freeing up your time can help you start building passive income streams that will pay you while you sleep!
#3 High Income Skill: Negotiation. One of the first times I realised the power of negotiation was when I was called up by a Hollywood film crew who were working on the movie Black hawk down. From that one deal I earnt enough to buy a rental unit which then went on to generate me lots of passive income. Instead of charging based on my time I charged based on the value I would bring to them. I had the power to save them lots of money so therefore I could ask for much more than I first thought.
It’s very hard to make enough extra money to invest if you are only charging based on your time. That’s why learning how to negotiate based on value is really important.
#4 High Income Skill: Selling. Having the skill of selling is all about being able to make something stand out from the competition. Maybe that means selling yourself in a job interview and getting a high paid job or selling your products. The truth is that those who have the ability to sell are much more likely to make much more passive income as they understand how to make something irresistible.
#5 High Income Skill: Networking. I get deals come across my desk everyday due to my big online and offline network. A couple of years ago I was given the opportunity to buy an entire business and all of their products. Just by selling these products online I was able to make over 300k in pure passive income.
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