Friday, March 15, 2013

Passive Income - A Grand Illusion??

One of the driving ideals behind my poker business is the goal of a 'passive income', that is to have cash coming in while I sit on the beach somewhere nice*. In todays post I will air my concerns that there is actually no such thing - that, in fact, my successes will only lead me to work harder and longer hours to achieve even bigger and better future goals.

* actually get quickly fed up sitting on beaches... but you get the idea!

This thought had been floating for a while and always comes to the forefront when I see some minor poker 'names' writing for other websites when they could have made a killing by now by creating a site or two of their own a few years ago. Sure it is nice to get paid for an article, or a training session (or to play poker!), the problem I always have with this is that as soon as you stop (writing / coaching / playing) so does the money. It is like working for a corporation, only without the benefits of a fat salary and company car - to me this is a lose / lose. Sure, some people enjoy what they do, but it is more like a builder who 'enjoys' making brick walls than anything else to my mind...

Anyway, so I'm mulling this over my morning coffee... and in one way I am convinced that by stopping writing for cash and focusing on building my own 'empire' (thanks for coining the phrase for me Scott!!) that some of the 'waste' that I see others partaking in is avoided. If I wanted to leave the poker business tomorrow then they would probably fetch a decent price tag - far more than the total of payments from p5's / Cardplayer et al would have reached. If I stop working on them now then the player base and continua

Here is the rub for me - my mind is 100% focused on making money long-term, on financial security for when I stop writing / creating / translating / expanding those websites. I have aggressive plans underway that will reap huge rewards this year and even bigger more aggressive plans outside of poker for later which are just starting to become a reality now.

Now I am starting to wonder if I will really ever be able to stop for long enough to enjoy the passive side of the income - or whether this is in fact an illusion...

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