Creating Passive Income Streams
A good way to make sure your business stays profitable for years to come is to spend at least some of your time working on passive income streams. Passive income is an income received on a regular basis, with little effort required to maintain it.
An example we’re all familiar with is the interest you earn on your savings account. You don’t have to do anything other than letting your money sit in the bank. Of course you’re not going to get rich from having a few thousand dollars sitting in the bank. But thankfully there are plenty of different ways to create passive streams of income online.
Let’s look at a few of them. This is by no means an extensive list. I’m sure you’ll start to come up with other passive income ideas as you read through these examples. (more…)