My son, Ethan, just turned 18. He's about to finish school.

Interestingly, he's learned something about finance that took me 45 years to learn. And, like me, he did NOT learn it in school.

It's this: if you want to maximize your most precious resource (time), you have to develop automated income in whatever way you can, as fast as you can.

The Truth About Automated Income

Some call it passive income, but I'm not a fan of that phrase. It's been polluted by 'get rich quick' schemes that promise much and deliver little. And they're rarely truly passive.

Here's what automated income really is: income that's generated by working on something once that then delivers returns over a long period of time with a disproportionately low amount of maintenance.

Think property rental or affiliate marketing. But for me, online courses have proven to be the most powerful form of automated income.

5 Reasons It Took Me So Long (And Why You Shouldn't Wait)

1. I Didn't See the Point

Simon Sinek famously said 'first start with why'. I live by that principle. Before you invest time and energy into something, you've got to understand why you're doing it. If you don't, you won't be able to sustain your momentum when the inevitable push back comes.

The 'why' of automated income is simple now I see it: It creates freedom for now and the future. It enables you to help others beyond your current means. It leverages your most precious resource - time - so you're using less of it in the future.

2. I Didn't See How It Was Possible for Me

I didn't think I had the right gift mix, audience, or ideas to do this. What I didn't realize was that everyone has expertise worth sharing. I now coach numbers of other professionals to turn their knowledge into profitable and scalable courses and coaching programs - from bookkeepers to artists, social workers to IT professionals.

3. I Didn't Think I Had Time

This was my biggest mental block. But here's what I discovered: with just 3-4 hours per week - or even 30 minutes a day - you can move forward consistently and reach your destination. I hit my first income goal within 3 months working just these few hours per week. I'm now well on my way towards my second goal. Consistency is what counts.

4. I Didn't Understand How the Internet Had Changed Everything

The internet has democratized education and business. You no longer need a huge network or massive marketing budget. With the right framework, you can reach your ideal audience and deliver transformation at scale.

5. I Didn't Know How Many Different Ways There Were

I was stuck thinking about traditional business models. But online courses / coaching? They combine the best of everything - low maintenance, high impact, and the ability to truly help people transform their lives. Design it right and the potential for scale is enormous.

The Time to Start is Now

Looking back, I wish I'd started this journey sooner. But here's the good news: it's never been easier to create automated income through online courses.

Want to learn exactly how to do this? I'm running a free training that shows you how to create your first online course in your spare time. You'll discover:

• How to find your perfect course topic
• The three engines that drive profitable online courses
• My simple framework for creating courses in just 3-4 hours per week

Join me at therawleader.com/impact and learn how to turn your expertise into automated income that creates freedom for you and transformation for others.

Because here's what I've learned: Time is your most finite resource. It's a cliche but that's because it's so true; the best time to start creating automated income was 20 years ago. The second best time is now.