Latest Posts - Page 93 of 179

September 11, 2019September 2, 2019 Passive Income Approaches

Ridesharing For Passive Income – Plan Accordingly

When you think of passive income, the idea of ridesharing is not likely to occur to you. However, there are ways to make this new opportunity work for you. This concept will require some planning and flexibility. Nevertheless, we can find ways to do this in a passive style rather than the side-hustle it is often viewed as. Ridesharing Can Be Time For Money The most common approach to the ridesharing services out there is as a side-hustle. Someone signs up, sits in their car, and collects riders when they can. This description is a simple model and a way to make some extra cash. However, we can take advantage of our usual travel patterns to find ways to earn... Read more

September 9, 2019September 2, 2019 Passive Income Approaches

Passive Income From Overages – Make a little more, generate revenue

No matter what physical product is created, there are bits left over. Sometimes these are full, unused products. In this episode, we look at using those to generate passive income from overages. These items are often tossed in the trash, so why not see if they are sellable. Rather than working harder, this approach will allow you to generate income from stuff you already have. Passive Income From Overages – Trash To Treasure There are many examples of these product opportunities. One that may be very familiar is the idea of a proof copy of a book or artwork. These are used for validating a product and are typically less than 100%. However, they may still be perfect for the... Read more

September 6, 2019September 1, 2019 Passive Income Approaches

Subscription-Based Products – The Holy Grail of Passive Income

The best ways to generate passive income is through subscription-based products. These solutions are the gift that keeps on giving. We have a sales cycle that is successful, and then we see the profit for months and years to come. It is worth our time to dig a little deeper into this form of income and typical solutions in this category. The Best Subscription-Based Products While there are many ways to create a product that generates recurring revenue, some jump to the top of the list. These may seem obvious. However, it is good to keep these ideas in mind when you start down the path of a PI product. These traits are the best ones for subscription-based products. Software-as-a-service... Read more

September 4, 2019September 2, 2019 Passive Income Approaches

Passive Income Best Practices – Avoid Anti-Patterns

There are passive income best practices we can follow to improve our odds for success. There are also anti-patterns we want to avoid. This area of entrepreneurship is so broad and loosely defined that best practices tend to be vague. The anti-patterns are much easier to detail and avoid as we launch our product. Passive Income Best Practices Avoid Time-Wasters The income portion of the PI equation follows typical business recommendations. You must provide a product that customers want. On the other hand, the passive side of the equation can be far more challenging and even counter-intuitive. These are simple in nature, and they often boil down to avoiding time wasters. However, sometimes the things that make our products great... Read more

September 2, 2019August 25, 2019 Passive Income Approaches

Outsource And Automate For Passive Income

We have often discussed how we can outsource and automate our processes. This approach allows us to reduce the hustle portion of our side-hustle. While that is a crucial step, it is also one that can provide its own challenges. Outsourcing, in particular, is a learned skill and one that takes patience and research. In this episode, we will look at some key considerations when you take this essential step. Refine Processes To Outsource And Automate Automation and outsourcing are similar in one core aspect. They require us to refine and tightly define our processes. We cannot be vague in our understanding or describing our processes. If we are not specific in our definitions, then how can we expect a... Read more

August 30, 2019August 23, 2019 Passive Income Approaches

Reducing Expenses For Some Passive Income

It is hard to argue that reducing expenses is not the least exciting episode of this season. Nevertheless, this is an important part of our passive income strategy. Debt is a killer of any income. Also, any funds we free up can be used for investing and other income streams. That makes this an essential part of the move to being a master of passive income. Reducing Expenses Adds Up Investing income builds over time. On the other hand, debt reduces our funds over time. Think of it as a form of negative passive income. That means any obligation we have will automatically kill our passive income attempts and what that provides. Of course, we could generate passive income to... Read more