After last Tuesday’s newsletter, photographer Emily Brunner asked a question inside of the Total Life Freedom Mastermind Community. Here’s what Emily asked. “Vincent’s newsletter yesterday got me wondering – how long does it take to pivot and grow an evergreen business out of one where you are paid for your time? For those who started with an “in person” business where you only get paid when you show up, and pivoted to one where you had recurring or passive income replace (or duplicate) your prior income, how many years did it take to achieve that? Or if you’re still in the process, how long have you been working on it?” That was just too good of a question (or series of questions) to not follow up with you about. As I mentioned a few weeks ago, I believe the idea of chasing passive income (if you don’t have assets, investment and cash to grow it) is like chasing fools’ gold. The real opportunity to gain financial and time freedom is through working to create recurring income streams. But this concept can be hard to wrap your head around if you are used to earning income only when you work. Often, this is the case for business owners who provide a service. On one hand, creating a service-based business is the easiest way to get started. Our son turns fifteen-years-old today (Happy Birthday Nolan!) and he started a pressure washing business in a flash. With a few flyers and knocking on some doors, it wasn’t long before he was in business with paying clients. Often, that is the case with ideas like photography, coaching or home improvement. There is a specific need or want that has to be solved. You probably don’t want to delay hiring that photographer for your wedding or a painter if you decide to get your home painted. It’s not something you want- or have the skills- to do on your own. You need a professional. By being the person that solves that problem, you can essentially become an instant business owner. It’s exactly how Elizabeth and I got started seventeen years ago with our first business. The downside is, by focusing solely on the service-based side of the business, we get fooled into thinking we’re a little more entrepreneurial than we really are. Yes, we are taking on risks that we don’t as employees. We are not relying on someone to hire for the dreaded nine-to-five J-O-B. We are creating an income stream. But I know all too well that when you rely primarily on word of mouth for one kind of service and income stream, you limit your growth, potential and freedom. Or when some pandemic comes along and shuts down an entire industry. But nobody thinks that could ever happen. Don’t get me wrong- you can live an amazing life never expanding beyond a service-based business. You may find great joy, satisfaction and accomplishment in that career. If this is you, please don’t hear what I am about to say as a slight. My focus- and the work I do- is helping those people create new income streams that hone in on those skills and passions while freeing up time and increasing income. As much as service-based business owners tell me they enjoy their work, I hear just as much how they don’t have much time to do more and they can’t see a possibility of increased income. Often, their prices are near or at the top of their market already. Emily is one of them. The quality of her work doing dance portraits in the greater Philadelphia area has attracted a raving fan base within that community. With an interest in photography and dance- with her daughters already being in that world- that work found her. But the idea of growth towards more recurring income and potentially multiple income streams seemed more daunting to her. In one of the conversations in the community, she questioned if it’s worth it to make a pivot and add something new. Something that isn’t a get-paid-only-when-you-work situation. She did what people like her and I tend to do- overthink the future and wonder if all of that effort would be worth it. It’s that black hole where our minds go sometimes. She, like many, is concerned about the idea of working too much. I responded that this is the exact point where the people who are so used to trading their time for money get it mixed up. To Emily, it may seem like so much work in the future, that you question doing the work today. But I asked a different question. “Instead of questioning if you would even want to work anymore in x number of years, ask yourself if you would continue happily if you worked way fewer hours, mainly on your own terms, making more money, and doing work you loved. Would you even question wanting to work down the road?” She said that this was a mind-bending way to view it and frame it in a different perspective. Which is exactly what I was hoping for. Employees- and often service-based business owners- often view the future as a time when they don’t want to work anymore. But, it’s been proven that doing work with purpose keeps us healthy and living longer. What if we viewed work differently? What if putting in the hard work now- intentionally- to build a future where income streams are vast, the income is unlimited, where it requires a fraction of the time actually made life so much more enjoyable in just a few years? Would that change the way you view the word work? Would that change the way you go about work now? Would that motivate you to build a strong foundation by doing the work that won’t necessarily pay off now, but will bring potentially endless opportunities in a few years? This helps you push through when you publish a blog weekly that feels like nobody is reading. Or when you post something on social media that doesn’t get much traction. Or taking the time to write that book that has no guarantees of success. Each piece is a puzzle. And like a puzzle, it looks incomplete in the beginning. But there is only one way of enjoying the appearance of a finished puzzle. By doing the work early when it’s the hardest. I’ve said this often- this is an easy barometer to view when you are beginning a new business, or a new level to your business. Pain defines the first year. Balance defines the second year. And freedom defines the third year. Understand this, and it’s easier to weather tough times. And it won’t be long before you enjoy the freedom and success that comes with it. Have an AMAZING day! Vincent P.S. If you’re in the Philadelphia area and want to check out Emily’s fantastic work at Emily Brunner Photography, just click here! | 
