10 Sep What is Passive income and why is the best digital business model?
This is one of my favorite topics to talk about, because adding passive income streams has been the best thing I’ve done for my business so far.
You can watch the tutorial where I explain in detail what is passive income and how you can integrate it in your business if you are a creative.
Passive income is a way to earn money without doing any extra work when you do a sell.
These are my 3 keys factors that, to me, define the perfect passive income idea if you are a creative:
- You need something to sell
- It must be digital
- It needs to be automated so that you don’t do any extra work after it’s sold.
And in most cases, there would be a 4th factor, which is that it can bring repetitive sells, ideally infinite sells.
Now, this was my definition, but keep watching the video to see some examples!