We’re all looking for ways to increase our earnings, but there are only so many hours in a day. As time strapped entrepreneurs, we don’t have a moment to spare.
Enter, passive income. Passive income can be defined as earnings from sources other than your active (work) and your portfolio (investment) income. It’s designed to bring additional income in the back door as you’re out there earning a living, managing your home, and living the good life.
WHY ADD PASSIVE INCOME?
The former financial advisor in me urges you to think of the strategies like a diversified investment portfolio. You’ve always got something going. The idea is, even when things slow down, you still have something coming in.
This sort of a multifold model offers potential across a vast landscape of possibility. Combining your current income with secondary sources will help you reach past the ‘time for money’ model as you increase your bottom line and your exposure right along with it. Your earning potential is limited only by your imagination.
The ideas to follow are viable, proven suggestions on how to use capitalize on your creativity and utilize your work to boost your bottom line. Many of these methodologies sell themselves, many with very little time investment from you. It's a win/win!
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