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Ep 18: Passive Income - What Is It & Why You want It
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Let's unpack passive income offerings. First, it really does take active effort and ongoing maintenance. So I don't really resonate or agree with the part of the definition, which states that earnings are generated with minimal active effort or ongoing maintenance. But the second part of the definition is this: You can create income while you sleep, travel or focus on other pursuits. And that's honestly, the part that I believe is true.
Think of it like this passive income is income you can make while you're not physically teaching or students can continue to learn via audio and video recordings, PDFs, homework assignments, journaling prompts, and so on without you facilitating and being in front of them, therefore it's income that can be made while you're doing other things. Types of passive income can include affiliate marketing or online business ventures, such as digital products, courses, and membership programs.
And in this episode, I want us to go down the passive income rabbit hole together.
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