50 Cent Gave Me The BEST Piece of Money Advice
“You’re not making money, until you’re making money when you’re not working.”
A bomb went off in my head when I heard that.
From 2010–2019, I was a personal trainer, eventually going on to open my own studio. Day after day, hour after hour, I would teach my clients how to squat, how to deadlift. I made over $100k a year but was running on all cylinders and knew I’d eventually burn out.
How can I make this work forever?
I couldn’t work more, I was already clocking in 10-hour days.
I couldn’t charge more, I was already at $100 an hour.
And every time I wanted to take time off, I’d have to close my gym and not train anyone AND pay for the trip.
It was a double whammy.
I realized I was only making money while I was working.
If I stopped, so did the money.
The key then, I learned from those twelve words, was that I had to take myself out of the equation.
Put your business on automatic pilot.
Take yourself out of the equation. Stop trading time for money.
How? It took me 10 years to figure it out. I don’t think it’s right to talk abou you havent done so here are the 3 ways I personally earn passive income every single day.
Real Estate
A lot of money is made from real estate. Limited supply, as there’s only so much earth available, and high demand, people will always need a roof over their head and a place to live.
My experience with real estate is with Airbnb. I’ve done it for 5 years and it’s paid my mortgage, and than some, ever since.
No better feeling than seeing a direct deposit for 1,000$ when all you did was drop off a key.
With technology, you can can rent out almost anything. Extra car? Use turo. I’m rehabbing a caper than I’m going to list on outdoorsy when I don’t use it.
Real estate is a once and done. Once you set up your property, you can pretty much froget about it.
This is one of the most passive business I’ve ever found. I was working 60 hours a week, bustin my ass in the gym, but was making double with my rental. How stupid was I?
Royalties
I wanted to share my Airbnb success with anyone who would listen, so I wrote a book about it. This was back in 2017 and now, every month since, I watch the sales come in. It’s not much, a couple hundred a month, but from a project that took me 6 months, I have since made thousands of dollars, and still do to this day.
I read an article that Mariah Carey makes a million a year during Christmas because of a song she did 20 years ago.
Consumable media is a royalty. Music, movies, books, medium articles ;).
Intellectual property is royalty. Apps, franchises, patents.
Think what you can do once, and have people use and enjoy it forever.
Clothing
What started as a way to advertise for free, turned into a brand. My clients wanted to rep the gym and they were proud of where they trained, so they’d buy a t-shirt.
A lightbulb went off.
I started getting cooler designs, better materials. I set up a Shopify store, posted on Instagram, and started selling the gear online.
People started buying.
It made me happy to see someone, often a complete stranger, would want to represent my gym.
To my surprise, since the internet is worldwide, I sent packages as far as Australia, and Europe, which is so coool.
Here I was spreading my message further, while designing a t-shirt one time, and selling it 100x after.
Do you have an idea of app? Are you a graphic designer that can license your work? Are you musician that can record an album?
Never ever trade time for money. There’s only so many hours in a day. Start with the ideas above and think of ways you can do something ONCE and ride the wave forever.
