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One of the main reasons the: “Self-employed” sector has yet to overtake the more traditional sectors in employment is that not everyone understands the concept of a passive income stream.
So here’s another parable about passive income:
Holly’s third birthday present was a toy guitar bigger than her little body and for the last 19 years, she’s never wanted anything more than to tour the country as a singer/songwriter. Problem is, music is a tough industry and it often seems impossible to make enough money to sustain a healthy lifestyle as a touring musician.
So she shelved her dreams. That is, until she got the most spine-tingling email of her life: “Hello, Holly! I just found one of your recordings on YouTube. Great stuff! My name is Jordan and I manage three great bands: one in LA, one in New York and a third in Chicago. They’ve been looking for a headlining act to open for and we’d love for you to be that act. I realize that, living in three different major cities, it would be pretty tricky to coordinate a tour, so how about this for a compromise: Let us open for you once, bring all of our fan bases, and give you 100% of ticket and merch sales.
In return, they’d like to continue touring only, they’d like permission to cover your songs. Of course, you’ll get 60% of ticket and merch sales from all concerts and 75% from all album downloads. If this isn’t already too much—they’d like to play only your music. So, wherever and whenever they play, you’ll make most of the money. Do we have a deal?”
Holly, flabbergasted, accepted. Now, she was free to play not out of fear, twisting her songs to make money but as a true artist: out of the overflow of her personality.
Well, that’s how a passive income stream changed Holly’s life. How could it change yours?