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 are exactly those time wasters we want to avoid.
Customers Can Drag You Down
Your customer base is always a critical factor in success. They need to be willing and able to pay for your product and service. That takes care of the income concern. However, they should also be as self-sufficient as possible. A customer base that requires a lot of support or hand-holding will suck all of the passive out of a solution. This combination adds up to a focus on direct and straightforward products over flashy and feature-rich ones.
This holds for every aspect of your solution. You want intuitive and straightforward to be the best description of your solution from installation, to usage, to exception handling. Quality is vital throughout these areas as bugs often lead to customer calls. You want to love your customers from a distance through easily automated ways. Conversations do not fall into this category.
