The Internet Business Journey Epi 29 - Create Passive Income Streams
The idea of earning money without constantly exchanging hours for income has attracted entrepreneurs for years. The internet has expanded the number of ways this can potentially be done. But the phrase passive income can be misleading. Most income streams that appear passive require significant work before they begin generating revenue. A digital product needs to be created. A blog needs useful content. A software tool needs development and maintenance. An online course needs planning, recording, and updates. The real opportunity is to create something that can continue providing value without requiring you to repeat the entire process for every customer. Digital products are one example. An ebook, template, course, design asset, or educational resource can be created once and delivered to multiple customers. Content can also have a long life. A useful article or video may continue attracting people months or even years after publication. Software and online tools can work in a similar...