A 5 Minute Overview Of
Don't Start a Side Hustle
Work Less, Earn More, and Live Free
About the Author
Brian Page is a keynote speaker and author, specializing in passive income creation. He is also the creator of the BNB Formula, an Airbnb coaching program with more than 25,000 students. He hosts the Digital Titans podcast and the reality show House Hackers. Brian Page has worked with Grant Cardone, Tai Lopez, Dean Graziosi, and Kevin Harrington from Shark Tank, and has been featured in Entrepreneur, INC, MSNBC, and Forbes magazine.
The Main Idea
Do you really want to trade your 40-hour workweek for an 80-hour a week job + side hustle? Too many entrepreneurs aim to create a lifestyle of freedom, but still find their income is limited by the number of hours in a day.
To avoid this, ditch the side hustle rat race and become a "Passivepreneur" — someone who builds a passive income vehicle (PIV) or multiple PIVs that generate revenue without hands-on involvement.
The more PIVs you build, the sooner you'll be able to live a lifestyle of true freedom. Focus on having the revenue streams from your PIVs exceed what you earn from your job, and you have some great options to consider.
Don't be an entrepreneur with a side hustle. Become a passivepreneur instead.
Sections in this Books
1. Know your WHY & your WAN (Walk Away Number). True wealth is measured not just in dollars and cents, but also in the minutes and hours you have available to do what you love. That's the ethos of a passivepreneur, and the first step in becoming one is to calculate your walk away number or WAN — the amount of monthly income you need to be bringing in in order to forever walk away from having a job.
2. Select your first PIV (Passive Income Vehicle). Passive income can be generated by assets in many different classes. You don't even have to own those assets, but passive income can also be generated from assets you create or control as well. Identify which passive income vehicle or PIV you can use to hit your monthly income target as quickly as possible. Figure out which PIV for you.
3. Scale your PIV until you reach your WAN. Focus on growing one PIV until you meet your monthly income target. You'll be tempted to get multiple irons in the fire, but that rarely if ever works. Grow your first PIV WITH laser-sharp focus until you exceed your WAN.
4. Add more PIVs to your income stack. Once you meet your monthly income target, you can then add more PIVs. Form an income stack with multiple PIVs. Keep adding more and more PIVs that work for you, so you don't have to do a 9-to-5. Be a passivepreneur. Replace dollars-per-hour thinking with wealth vehicles, cash flow, and discretionary time.
- Don't be an entrepreneur with a side hustle. Become a passivepreneur instead. Build passive income vehicles.
- True wealth is measured in dollars and cents, but also in minutes and hours. Build assets that work while you sleep.
Summaries.Com Editor's Comments
This is a book where you get the general gist right away, but it's not until you do a bit of a deeper dive that you appreciate some of the subtleties. DON'T START A SIDE HUSTLE! DO THIS INSTEAD was written by Brian Page, a passive income entrepreneur or passivepreneur. His basic premise is you're already crazy busy, and now you want to take on a sideline business that will require you to work another twenty hours a week? That's not just crazy but completely unsustainable. Instead, you should start building passive income vehicles that will generate revenue without your hands-on involvement.
Now what I like about this book is most other authors at that point say, "OK, work on doing that. Good luck, and all the best." Instead, Brian Page gets into the practical details of how to make that happen. He has a four-step process where you focus on growing just one passive income vehicle until it generates enough revenue that you can stop working full-time if you so choose. You then add more passive income vehicles to create an income stack which gives you serious and attractive options in the future. Rather than thinking dollars-per-hour, focus more on wealth vehicles, cash flow, and discretionary time.
I would assume for many people, real estate immediately comes to mind as the most accessible passive investment. It's true real estate generates passive income, but there's a limit to how much of a revenue stream any real estate asset is going to generate for you. So strictly speaking, real estate is not a passive income vehicle. However, if you were to package up what you learned as a real estate investor into a digital course that you could then sell to a hundred, a thousand, or even a million people while you're doing something else, now we're starting to move forward. That's the essence of a way to think that distinguishes a passivepreneur.
Great book. Thought provoking. Highly recommended.
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