The Homework I Gave To My Friend Who Wanted To Generate $60K to $250K in Passive Income

My good friend (let’s call her Rita) recently asked me for tips on how to generate extra passive income of $60,000 to $250,000 per year.

Rita wanted to do this so that her life-partner (who has a stressful job) could live a more comfortable life, and the two of them could pursue some “do-good” creative projects to better the world.

I couldn’t guarantee her anything but she asked for a meeting with me and I came up with some homework that she could do ahead of time (mostly to read some of my past articles and do some exercises).

I know the links/tips I include are all my own…but, hey, that’s what I know best. 😉

I thought I’d share with you my email to Rita in case you or someone you know wants to make some more $dough.

It’s not easy, but if you are serious about wanting to increase your income you’re going to have to put in some work. Here it is.

Dear Rita, …

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A Simple Way To Increase Your Confidence (Fun Too!)

Most of us can use a confidence boost once in awhile.  Here’s one exercise I used that works…and it actually feels good and positive as you’re doing it!

I call it the…

“Qualities of Achievement Exercise”

Step 1: Write Down One Achievement In Your Life You’re Really Proud Of

Write down something that you’ve done that you’re really proud of in life — it can be related to business, family, sports or anything.

What’s important about the achievement you select is that it made you feel really good.

Here are examples of achievements I’m proud of:

• Winning the championship at a basketball tournament in Fire Island (pictured above)
• Moving to San Francisco from New York (which I decided spontaneously with my then-girlfriend in a NY cafe)
• Founding a start-up
• Playing guitar onstage with my buddy Larry at his wedding reception (see picture below)

Step 2: Write Down The Qualities You Possessed For The Achievement

To the right of the achievement, write down the qualities you possessed (or conditions you set up) to make that achievement happen.

For example, to win the basketball championship I wrote down things like:

• I practiced 3 times a week (aka ‘created a ritual’)
• I focused on my strengths (aka ‘unique abilities’)
• I was a team player
• I gave it everything I had
• I was in good physical shape

It helps to write these down as “I [fill in the blank]” statements.

You should have at least 5 to 10 of these qualities.



Ok, you should be feeling pretty good about yourself at this point…after all, you’re revisiting some amazing achievement from your life! That was a great day, wasn’t it!?

So, let’s do another achievement (you’ll later see that it’s important to do multiple achievements).

Step 3: Write Down A Second Achievement & List Out The Qualities/Conditions

Step 4: Write Down A Third Achievement & Do The Same

Step 5: Create Your Master List of Qualities Of Achievement

Now that you’ve done 3 achievements, you should have a list of a couple of dozen qualities listed.

Review the list on the right-hand side (the reasons you accomplished these achievements) as this is your master list of “Qualities of Achievement” — some of the many things you possess to do amazing things.

There will be qualities that repeat among achievements too — even though you may use slightly different language for them — those repeat qualities are arguably among the most powerful qualities you possess!

I found it useful to make a separate list (mine is below) of the repeating qualities. Here are some of my own:

I utilized my network of contacts

I was bold

I focused

I bought time

I was positive

I leveraged my unique abilities

I created a plan

I did the “right thing”

I was persistent

I practiced

I created rituals

I was persuasive

Step 6: Whip Out Your Qualities Of Achievement Any Time You Need A Confidence Boost

Now, what’s cool is that any time you are facing some new endeavor, you can look at your ‘Qualities of Achievement List”  to be reminded of the qualities YOU possess to further achieve!

Furthermore, these qualities will give you ideas on how to tackle your new achievement!

After all, you achieved greatness before…and you will surely achieve it again!

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