Passive Reve-what?

February 20, 2008

I thought this was an appropriate title for a very important topic of discussion. This topic is passive revenue and if your business isn’t yet bringing in passive revenue, you better change that and quick!

So, what is passive revenue? Passive revenue, in my own terms, is income that you generate by doing nothing. Now, don’t get me wrong, for the most part it isn’t truly “nothing” but rather doing something once (ie: creating an ebook) and earning income from it for years to come.

This is a key quality of business owners and entrepreneurs who earn income while they sleep. They do this not by trading their time for money but rather their expertise for money. Their product for money. The beauty of this type of business setup is that it is actually quite easy to do!

What makes a good passive revenue item? Well, that depends on the business you are in. Ebooks, special reports, audio programs, teleseminars, etc. all make great passive revenue items. The key is to find something you are really good at or have extensive knowledge in and use that to create a product that people will be interested in.

It’s easy to set them up and once you do that work once, you’ll reap the benefits of selling that product for a long time to come. The best part is that most products also give you more credibility and help establish you as an expert.

So, go out and create!

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