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What is Passive Income?
Are You Embracing the Concept of Passive Income As You Grow Your Business?
Setting up a viable passive income stream is the dream of many small business owners and freelance service providers. This is a system where you don’t have to be there and work every minute for the money you earn. You put in the work to set it up and then, as it runs, you earn. In other words, you don’t just earn money equivalent to the time you put into your work.
My background before coming online was as a classroom teacher and also working part-time as a real estate broker and residential appraiser. No passive income there; if I wasn’t doing the work myself I did not get paid. I did have people who helped me with my real estate business from time to time over the years, but I was hands on with supervising them and their activities at all times. In fact, this actually cost me money over the years because the time I was spending with them was time taken away from my work where I was earning the full amount.
Let’s Get Back to How to Create Passive Income
For example, you’re a content writer and you get paid by the word. This means that if you write a certain number of words, you get a certain number of dollars. The rate you receive might be excellent and your earnings high. But there’s a ceiling that you’ll never break through because even at a good…
