Generating consistent income from your online business can be a complicated task.
Plus, it can be risky to put all your eggs in one basket by offering just one product or service, especially when your business is in its early stages and your audience is still fairly small.
Because for most service-based businesses, time is precious. There are only so many hours in the day, so either you increase your staff or the number of clients you can serve will be limited.
Therefore, if you choose to create other gambler data ways to generate money, you will be reducing the risk of having a “slow” month and you will be able to bring more money into your business.
And it is precisely at this point that passive wages take on greater importance.
Passive income streams are a way to work smarter in your business, not harder.
Passive income is a form of money that is received regularly and requires very little effort to maintain.
You can create one once and have the opportunity to sell it as many times as possible, since no extra work or time is required on your part for each additional sale beyond the promotion or update.
So, the monetary income you receive from that e-book or affiliate is passive income.
This concept was born from the hand of Tim Ferris.
In his book “The Four-Hour Workweek,” he describes the system he developed with BrainQuicken, where the company’s marketing, shipping, banking, and even customer service were fully automated.
Many of us have found the idea that Tim could travel the world learning to dance the tango and reside on private islands while money piled up in his bank account, heady and almost science fiction-like.