Ask the Readers: What Systems and Assets Could We Build to Achieve Financial Freedom?

A few days ago I wrote about the two rules to achieve financial freedom:

1. When you work, work to build a system
2. When you buy, buy an asset

These rules help us build passive income which could eventually give us financial freedom. The first rule deals with how we should spend our time, and the second rule deals with how we should spend our money. So, in other words, we should spend our time to build systems, and spend our money to buy assets.

To follow these rules, first of all we should have clear ideas about what systems we could build and what assets we could buy. Only by then can we choose the systems and assets that suit our condition and start working on them.

So, I’d like to ask you these two questions:

1. What systems could we build?
2. What assets could we buy?

Feel free to share as many ideas as you want in the comments. Your answers will help me and other readers achieve financial freedom.

5 Comments

  1. First of all thank you so much for the great Steve Pavlina Podcast!

    Great stuff!!

    Especially how he talks about the ‘Risk’ involved in having a JOB. 🙂 (recently I heard reffering to it as ‘Just Over Broke’)

    It’s the difference between being an Entrepreneur or having a Job.
    I remember having heared about that the father of Ted Turner (founder CNN)
    said to people something like: ‘My son has no Job he is an Entrepreneur’.
    A great resource about Enterepreneurship can be found on
    Yanik Silver’s Blog, http://www.internetlifestyle.com/blog/

    ‘There you can find a great Interview on Entrepreneurship
    with Richard Brandson !

    O.K. now for what you question is concerned:

    Besides Investments and some other Enterprises I am developing, I am building systems with ‘Affiliate Marketing’. I am building ‘Multiple Streams of Income’, beginning this year I launched 6 new ‘Blogspots’, Blogspots about Special Interests that I have. (Music, Happy Home Business, Writing, Travel, Movies and Chat)

    On my site you can also find a lot of posts about ‘Happy Home Business’. I have some products on my site, that you might consider as possible assets to buy. Besides the eBook I wrote myself you can also find some other products on it that might be helpful. You can also have a look at a FREE Preview of the ebook I wrote.

    All the Best,
    HP

  2. The easiest systems could be publications that generate revenue through licensing or developing businesses that could grow to be self-sustaining.

    I’ll bet that one aspect of each of our lives could probably be monetized with only a little effort. The payoff might not be much, but it’s something that can be grown.

    A wonderful example is Linda Katz, as profiled in this business article, Windfall Profits. Certainly her business took off by accident but her creativity led to the creation of an actual business.

    I’d even argue that investing in oneself as a system is a worthwhile expense — get a better education, present at a conference. While it might not lead to an immediate payoff, it certainly will result in an easier next job search or a partnership opportunity down the road.

  3. Oops!

    I saw that the link to my own site didn’t work, it’s:

    http://hpshappy.blogspot.com

    All the Best,
    HP

  4. HP,
    It’s interesting to learn about affiliate marketing and e-book selling as possible systems we could build. And I ‘m glad you shared some useful resources.

    James,
    There are a lot of ideas in your comment! I love your thoughts about investing in ourselves, and monetizing an aspect of our life. Linda Katz’s story is also inspiring.

  5. Currently on my Happy Home Business Blogspot you can find several interesting Money Making Assets/Sytems you can build:

    * Make Money with Stock Photography.
    Building an Asset by building your own Photo Stock Catalogue and have photo’s to Sell or Licence. (at my Home Business Blogspot you can find out where you can download your own Free Report about Stock Photography!)

    There you can also find interesting info about:

    * Home Business in General

    * Affilliate Marketing

    * Making Money with Writing.

    * Making Money with Music Producing

    * Making Money with Answering peoples questions.

    All the Best,
    To your Happy – Asset Building – Inspiration,
    HP

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