“Never Work Again” Seminar – Day 2 Review
This is part 3 of my review for T. Harv Eker’s “Never Work Again” 4-day seminar. Be sure to read parts 1 and 2 before reading this post.
Day 2 Overview
Here’s an overview of the topics for day 2. Due to intellectual property reasons, I’ve listed down the subject of the segments but not the actual topic titles.
- Google Adsense*
- Invest in US Stock Markets*
- [ Lunch Break ]
- Tax Liens*
- Forex Trading*
- [ Dinner Break ]
- Real Estate Investment*
- Successful Investing
* These are the sales pitch sessions. They follow this general formula: (1) A 10-minute introduction on why this particular method creates passive income (2) 15-minute brief sharing on how they do it, followed by (3) 20-minute sales pitch for their course/program to learn this skill so you can create passive income for yourself.
Pitching Seminar vs. Content-based
After 2 days of “Never Work Again”, I now have a clear idea how NWA works. It’s not a content-based seminar at all, but a platform that puts sellers (the trainers/speakers with something to pitch) before a large pool of audience, who are also the potential buyers.
The sellers can be (1) real estate/financial companies with ready products/investments that need investors or (2) self-made millionaires who achieved success via their own passive income strategies (assuming the claims are legit) and now build a business training others how to achieve the same success via the same steps. For the latter, the product they pitch is usually some coaching/training program on how to earn passive income via the same strategy they used.
During NWA, the trainer, who is really the seller, uses his allotted segment to share a snippet of his success strategies, which is borderline informative but insufficient for the audience to act on. He then pitches his product/service/coaching program. So essentially NWA is a seminar of pitches and upselling to more seminars/products.
This isn’t quite what I expected. I was expecting an actual content-based seminar that teaches passive income strategies, not a seminar of pitches and upselling to other programs. I was also looking beyond just tactics, but timeless strategies that we can apply in our lives straight away. Unfortunately neither expectations have been met in days 1 and 2. The absolutely sensational seminar description filled with sky-high promises doesn’t help manage expectations either.
What NWA Is Good For
Of course, NWA has its own value, albeit very little if you have some basic savviness and financial literary. As I mentioned in my Day 1 Review, the seminar is good for you if you already have a lot of money and want to invest them somewhere (the onus is then on you to evaluate the feasibility of the deal).
- It’s good if you want to learn specific passive income generation tactics and you have a big pool of cash to invest in a separate course and learn from X trainer who can teach you how to earn passive income with Y tactic.However, the questions boil down to, “Will this program deliver on what it’s delivered? Is this trainer really earning money from applying this tactic or is he/she earning money from teaching seminars?” Based on feedback from my fellow trainer friends, often times such courses lead to more upselling, where you need to pay even more just to learn some X knowledge which is supposedly critical for you to succeed in your goal — sort of like dangling a perpetual carrot that you can never get. It’s quite a slimy sales technique. I can’t comment on the trainers in NWA since I don’t know them and I didn’t sign up for their courses (obviously), but I’d think very carefully before I invest my money with anyone.
- If you don’t have money to do #1, the seminar still provides some value in that it shares various passive income tactics — from internet advertising, to tax liens, to real estate, to stocks — along with a very surface idea of how they work. (Yet, these are nothing that you can’t already look up on Google and learn in a matter of minutes.)
But if you are looking for actual, actionable step-by-step information that will help you generate passive income, then sorry, no, you will not find this in NWA. All of the information shared on the methods are insufficient for you to act on your own.
For me, I personally prefer a one-stop course where I pay the course fee and get what I’ve been promised in the course description, as opposed to being led on to purchase more courses just to get the very thing that I had paid money for. (This is also why I never design multiple “tiers” for my own online courses, and instead focus on one-stop holistic solutions to each topic I train on.) This is where NWA really fell short for me.
(The writing in this section has been refreshed as of 2014, to reflect my personal insights now that I’ve personally been running a P.I. business for 3 years–though in no way due to NWA.)
For all intents and purposes, I would like to believe all the trainers and speakers at the seminar are legit and have achieved the successes they claim. I would also like to believe they are not here to rip people off but to really provide value and help others achieve passive income. Last but not least, I trust that — for no reason other than faith from one person to another — they do have the necessary know-how and skill sets to help people achieve the same results, if not more.
However, I can’t help but feel the whole pitching heavily misrepresents the route to getting passive income, which is dangerous especially if the audience isn’t discerning.
What do I mean?
Personally, I created PE in 2008 and turned it from a full-time active income business into a passive income business, with my passive income coming from 15 revenue streams. It took me 4 years to transit to a full-time passive-income business (that generates considerable passive revenue every month that I can live off of), while I’ve been earning passive income for 6 years (as of 2014), so I know the nuts and bolts of making passive income happen, be it online or offline.
However, many of the speakers came across as grossly simplifying the process of creating passive income in the seminar. For example, placing Google Adsense in websites does indeed provide you a source of passive income, but you need to have an insane amount of traffic before anyone can dream of earning thousands of dollars a month (from solely Adsense). This only happens if you are providing an insane amount of value on your site, which in turn is the result of putting in lots and lots of hard work. This kind of output doesn’t just happen overnight. It’s built over months and years, like what I’ve done with PE — all sheer content and value creation since its inception in December 2008, continuing even till to the day I die.
This reminds me of one of my current clients, who signed up for an Internet Marketing course by one of the local training companies a few years back (cost him $2K USD) but did not achieve the results the course claimed. Why? It’s not because he’s not good, but because to achieve those results requires real dedication and hard work. He signed up for the course thinking it was an easy, fast way to earn side income, and it was hardly his fault because that was how the speaker pitched it.
Pursuing Passive Income Is Like Pursuing Any Goal
It’s not supposed to be simple stuff. Creating a new passive income stream needs energy and hard work, the same kind of hard work that you need to succeed and be the top in any field. There’s always a dip in any goal — i.e. where you need to put in a disproportionate effort to push through to achieve the goal. Attempting a touch-and-go approach in generating passive income will give you meager-level outputs. You can simply set up a random site and set up adsense code, no problem — which will generate 5 cents a month if you are lucky.
If you want to earn passive income and you don’t have a specific preference in how to earn your money, it’s worthwhile to explore these passive income streams shared in NWA, pick the ones you have more interest in and spend time to build these structures in your life.
However, if you already know your passion or you’ve some ideas that you’d like to pursue (as a business), then I highly recommend you spend time to build the passive income streams around what you are doing. I.e., if you love baking and cooking, create a business on that with multiple passive income streams. Make passive income streams part of your passion, not a separate entity. Creation of any new structure requires work, very hard work, and time is a limited commodity to spend on things you don’t love. It’ll be dang well ironic to intentionally dedicate precious time to build passive income streams in areas you are not interested in when the very purpose of passive income streams is to live a life of freedom and happiness. Doing what you love is part of the freedom.
Day 3 and Day 4
I’m still waiting to see if they will be covering any real passive-income principles and strategies vs. tactics, especially for businesses. Let’s see how it goes.
As I’m running my own workshop tomorrow (“7 Habits of Straight A Students” – I’ll be training a group of students), I’ll be not be around for the morning and afternoon sessions. I’ll connect with Tatt and O to check what I missed out on. I’m looking forward to my workshop later – it’ll be fun to coach students for a change since most of my workshop participants and clients are the adults 😀 😀
Continue on to Never Work Again Seminar – Days 3 & 4 Review and Conclusion.