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Passive Income, Perfectionism Pitfall

May 24th, 2007 at 05:15 am

First, Some Background
I'm in an odd place right now: I've got so many things rolling around in my head that I've not been able to focus on any one particular thing and feel I can do it justice. As a result, I've not been blogging as much and I've not written a single PFAdvice article in May. D'OH!

Moreover, I've been working on my slightly super-secret side business (like the alliteration?) and keep trying to get it just right before releasing it to the world. Long story short, I'm hitting a wall.

To combat this I've been doing a lot of reading online, looking for inspiration. The way I browse the web is at best bizzare and on occasion schizoid. This week I was looking for sites that I could include as part of a newsfeed on my website and I took a new-to-me track: I went to Technocrati, ranked the blogs by 'authority', and checked out the top 100.

I actually didn't find many of them interesting, which is in and of itself kind intriguing. There would be an interesting article here or there, but most of my good reading came from following links and Trackbacks within these supposedly good blogs. As an aside, this is how I found

Text is icanhascheezburger.com and Link is
icanhascheezburger.com and
Text is The Church of the Flying Spaghetti Monster and Link is http://www.venganza.org
The Church of the Flying Spaghetti Monster. Great time wasters!

The Meat of This Post
While wandering around unchaperoned on the web, I came across a good article at
Text is Genius Types and Link is http://geniustypes.com/passive_income_strategies/
Genius Types about passive income. Not that the concept of passive income is new to me, but I thought the article did a good job of pointing out that to be successful at it requires a slightly different view of money and making it work for you. Plus, it made me remember that I really want a passive income, the sooner the better.

Then yesterday I meandered my way over to
Text is Success from the Nest and Link is http://successfromthenest.com/content/the-mistake-of-waiting-for-your-start-up-to-be-perfect/
Success from the Nest and read aout how perfectionism can be just another form of procrastination. Some of you might remember that this is something I've said before , but it's one thing to have had a thought and quite another to sit down and read it in black and white.

The two articles struck cord with me, I suppose, because they are exceptionally timely in my life. I fell into this slightly super-secret side business by chance, but it does have the possibility to make a great passive income source if I can get it up and running. Good news, right?

Well, yes and no, because that's where the perfectionism rears its ugly little head. I keep second guessing myself, or trying to plan things to be just right in order to make the most of this opportunity. All I seem to wind up doing, though, is spinning my wheels and not going much of anywhere.

At any rate, the two articles made me think and apparently I think better when I write, so here I am. Guess it worked after all!

5 Responses to “Passive Income, Perfectionism Pitfall”

  1. Aleta Says:

    I know what you mean about perfectionism. I had always wanted to put together what they call an office in a bag. It more or less is everything that you need to carry with you in a zipped bag. It contains addresses, phone numbers, stamps, a small stapler, thank you cards, current bill, business addresses that are needed and just a host of many things. Anyhoo, I kept putting it off because I wanted to do it perfectly. I just started working on the addresses, also putting in information about insurance account #'s, various items of importance and exactly one week later, my husband went to the emergency room and from there admitted into the hospital, operated on and there for 9 days. I can't tell you how helpful that bag became. It had so much information, including my husbands driver's license number and car insurance policy number and I also had a book in there to read. I had not finished it when he went in but it was almost like it was meant to be put together when I did. I will tell you, it wasn't put together the way I wanted it, but it was sufficient.

    I would suggest that you go with what you have and try it. Start small. There's no hurry and maybe by taking your time, it may work out better for you. Good luck!

  2. Broken Arrow Says:

    I like the article about the passive income!

    It reminds me of a conversation I was having with a buddy. He pretty much assumed that I would buy a house rather than rent, simply because buying means owning, and that means eventually increasing my net worth.

    Sure. Nothing wrong with that, but I told him that, unless something drastic happens, I am more likely to end up renting rather than buying. He looked at me like I've gone crazy and said, "But that's just wasting money, isn't it?"

    "Normally, yes.", I replied, "However, there's usually a difference in savings between the two, and while many people would look at that difference and say 'Wow. Now I can buy more toys', I believe a person that is going to be wealthy would look at that same difference and say 'What can I invest this in to make it grow?'"

    And thus, even if I do rent, I am hoping that I can still make my money grow.

  3. Aleta Says:

    Broken Arrow: One of the nuggets that I took from The Wealthy Barber was that one size doesn't fit all. I had always thought that owning a home was always better than renting. One of the characters in the book was a single man who only wanted (I think) a one bedroom place with no yard work, etc. For him, it was more reasonable to only rent a 1 bedroom place rather than buy a whole house full of rooms that has to be painted, furnished, air-conditioned and heated. So, for some, renting is better.

  4. monkeymama Says:

    That Passive Income Article is great!

  5. lieweheksie Says:

    thanks for the links
    me being me got kinda stuck on the cheezburger link-very very funny :-))
    had a look at the passive income article- promise to read and think about this on the weekeend...defintely will...

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