Passive revenue (or passive earnings) refers to income that requires minimal ongoing effort to maintain once the initial work is completed. Think of it as "set it and forget it." While no revenue stream is completely hands-off, passive revenue sources provide a way for business owners to generate income without being directly involved in day-to-day operations.
Passive revenue is the secret sauce that transforms a good business into a great one. It's what separates business owners who are always in hustle mode from those who enjoy consistent revenue with less active involvement.
By implementing one of these passive revenue strategies, you can create additional income streams that work tirelessly in the background. This allows you to focus on other aspects of your business—or even enjoy some well-deserved rest.
The more passive revenue streams you build, the more financial freedom and flexibility you'll have. Passive earnings boost your profits and financial performance without requiring you or your team to work harder.
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