The mindset you MUST have if you want to build passive income

Why planting trees beats picking fruit
Seth Kniep
October 9, 2017
Entrepreneurship
There’s a reason I don’t go yard selling, garage selling, or thrift shopping anymore.

Let me explain: I’m not against it at all. I think it’s a wonderful way to generate cash quickly. But there are some people on Amazon who do $30,000 a month with just two or three products.

It is extremely difficult to get to that if you’re constantly finding items through yard sales or thrift shops to sell. You’re doing much more physical activity and have much less time. If you need cash to start off with, and you need to liquidate things in your house so you can get the capital you need to get started, that’s great. But if you’re consistently stuck in the cycle of going to a yard sale, buying an item, posting it on eBay, and selling it, you have to stop.

It won’t make passive income, because as soon as you stop working, the money stops coming it. It’ll work to make money. But you have to work to make money.

There are two kinds of people when it comes to building income online. There are fruit pickers, and there are tree planters.

A fruit picker will walk into the woods, look for an apple tree, and pluck apples from one because they’re hungry. They can pluck apples all day. But they have to go out and find the apples. By the end of the day, they’re tired, they’ve eaten some of the apples for energy, and they have apples for dinner. And tomorrow, the apples are gone. They have to go back out again the next day.

The problem with this is that they can't scale. They can pick a hundred apples in a day, but to pick a thousand a day, they would need ten times as much time. You can't make more time. You can’t lengthen your life or make the sun slow down. They’ve undervalued their greatest asset: time.

The number one rookie mistake new sellers on Amazon or eBay make is always being busy. They think their greatest asset is money. It’s not. Your greatest asset is time.

The other kind of person you can be is a tree planter.

Now, the tree planter has to be very patient and very disciplined. They need one apple tree to live off of. They’re going to be hungry a lot. They’re not going to have a lot of apples. They’re not going to make a lot of success at first, and they'll be very limited. But instead of picking apples all day, they take seeds and plant a tree.

They water it, fertilize it, and give it the attention it needs. It takes a long time. It requires investment and care. But when it blooms, it produces apples for them. And once it’s there, it only needs to be monitored every now and then, but it will keep producing apples. Now the tree picker can plant another tree and help it produce apples. Then they can go and do a third, a fourth, a fifth.

See what happens? When you take the time to plant a tree instead of plucking fruit, it takes a lot of work, and it’s very hard, but once it’s growing and producing fruit, you have the time to go and plant another one and another. Before you know it, you can have a thousand trees producing apples for you with plenty of time still on your hands!

That’s why it’s so important we think this way. Your greatest asset is not money. It’s time. Do you want to build wealth? Then value your time more than your money. You need time to make money, and if you manage it right, you can make your money work for you.

Here’s what can happen, and it happened to me: I had over $20,000 in retirement. I was desperate. I had tons of debt. I couldn’t find a job, and everything was going wrong, so I liquidated my entire retirement. I paid over 30% in fees and taxes just to get access to that money. It felt good for a while, because it helped pay the bills and keep me going, but the problem is that I literally took a hatchet, walked out to my orchard, and chopped down my apple tree. It was making me money, but I killed it. I got a lot of fruit from it, and I was able to use the wood for firewood and keep me warm for a few nights, but soon it was all gone. It was if I had started with nothing.

Don’t chop down your apple tree.

I understand there are emergencies. Sometimes you may be so desperate that you have to. But avoid it if you can. Don’t chop it down. Go plant more apple trees. That’s why I teach passive income like planting trees: it is an investment for the future.

It’s like a golden goose. You have a goose, it lays you golden eggs, and makes you tons of money. One night, you get hungry and decide to kill the goose. It makes a nice meal, but now there are no more golden eggs. Don’t kill the goose. Feed the goose, and the goose will feed you for years to come.

If you learn to value your time, you will go so much further.

A lot of people start on Amazon thinking, “I’ve got to generate profit.” What they really need to be doing is taking that first batch of items that they order and look at them like promotional items. The goal of that first batch is not to make money. Forget about making money for a minute. You’re going to take those items, use them to get reviews, use them to run ads, and get your product listing high-ranking. You’re building a tree. Then next month comes around. People are buying your item. All of a sudden, you have money coming in.

Don’t go door-to-door selling your items and getting rid of them for cash. Invest in your listing on Amazon, get it promoted, and it will make money for you for months to come. And then once you have one going, you don’t have to keep up with it. You can build another one. And another one. And you can keep doing this until you have a whole ton of passive income rolling in for you.

 

So what moved her to redefine centuries of tradition? Wasn’t it enough that she and her sisters were women poised to take charge? What motivated Hanzade to disrupt even more ingrained culture, and rattle the stars with something different?

To paraphrase? She wanted to be head of her own table! 

Looking into her past, that was literal as well. According to her sister, 

“My father used to sit at the head of the dinner table, and when Hanzade was young she made a big issue that she was going to sit at the head of the table."

Dogan-Boyner had been going against the grain for years in the face of family friction, cultural tradition, and advice from “experts” stuck in old business, and she succeeded tremendously!

So what makes us any different?

Okay, sure. I personally didn’t start out as a scion, but the drive to disrupt transcends differences like ethnicity, class, country, and gender! If we want to be real? Starting any business is "going against the norm" by default!

Some of us know how hard it is when you have your family telling you can't do it, that you're crazy, and that you're sacrificing security for a pipe dream, not to mention our own voices in our head screaming, "Who do you think you are?"

So what? 

Do it with doubts! 

Do it afraid!

My reaction to “You can’t”,  is always “Watch me”.

I won't tell you that makes it easy.

Christian Fregnan


One day, I got up, had a headache, brain was scattered, felt pulled in 10,000 different directions, and did not feel like coming in. I got to the office and told one of my staff members: "I just don't feel like being here today."

Yes. Me. My work is literally my margin, and even when the haters are (mostly) silent, when the woman I love most is on my team, and when I have amazing tea delivered straight to the office—I 100% have “those days”.

But am I risking being cut off from family, inheritance, and my home country? NO! 

My obstacles and challenges today don't come anywhere close to the odds stacked against Hanzade Dogan-Boyner’s quarter billion dollar wager.

This is why I started Just One Dime.

I was so sick of gurus selling how cool they are for breaking the rules—I wanted people to feel their rebellion can bring friction and can cause them to struggle. And there’s no shame in that! We can all be 100% honest and transparent about it!

I’ve seen Hanzade's story spun into a man versus woman battle.

I’ve seen it spun as an old vs young battle. 

I’ve even seen it as a West vs East thing! 

But I don’t see it that way. 

Her story, like mine, like Oprah’s, like my students’? It’s all about flipping the stage, using disbelief as your fuel, and pushing forward! 

We all have that power! 

The only question is: Do you have the desire? 

I want to share more about what we can learn from transparency with the world, so the team and I are going to SXSW2020! 

But we need your help to get there!

The Panel Picker is now open, and we want to help some of the 150,000 members of SXSW learn how to find the vision for their purpose at Austin’s biggest convention of the year!

Want to show your support for Just One Dime?

Take four simple steps:

1: Register for a Panel Picker account

2: Search the panels  

3: Type my name, Seth Kniep, in the search bar, and open the top two results

4: Click the up arrow at the left side of the screen to upvote us, and leave a comment! 

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Seth Kniep

Married a pearl. Fathered 4 miracles. Fired his boss. Turned a single dime into $104,857. Today, a self-made millionaire, Seth and his team of 8 badass coaches teach entrepreneurs how to build passive income on Amazon.

Dead serious about building income on Amazon with eight successful coaches in a community of badass Amazon sellers? We created something we've never done before: the Amazon Growth Bundle full year coaching course.

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