There are a lot of myths about how to create passive income and what it is. If you’re an entrepreneur, you’ve likely heard them all! Despite having a lot of misinformation, passive income can totally transform your business, so I’m here to share with you how to create it
First things first — yes, passive income is a must have for any entrepreneur who wants to have a thriving business. But I’d bet that what you’ve been told is passive income actually isn’t.
What is passive income?
Passive income is income earned without actively working hours to receive that income.
For example: Sally earned $1000 this week from her coaching business, but she was actually on vacation (and a social media detox!)
To further tease apart this point, let’s say that Sally was on vacation, but she Instagram story’d her entire day, including all those lovely swipe up links to her programs and affiliate products. This is not passive income. Sally is still actively working to drive attention to her business.
So passive income occurs when you are not doing anything to actively earn income, but you’re still raking in the dough!
