Everyone loves the idea of making money without working for it, but is that what passive income actually means? And whatever it is, how can an entrepreneur – particularly one that isn’t independently wealthy and is still working hard to build a business – cash in on the idea? In episode 1.3 we define what “passive income” really is, and discuss strategies for building more revenue streams into your business (or separate from your business!) that don’t rely on exchanging your hours for money.
Show Notes & Links:
Here are some of the topics & resources discussed in this episode:
- What is passive income?
- How to build passive income
- The 4-Hour Workweek & lifestyle design
- What if I want to keep working?
- Making a business you already run more passive
- Systems create freedom
- Choosing what are good opportunities for you
- The 4-Hour Workweek by Tim Ferriss
- Rich Dad, Poor Dad by Robert Kiyosaki
- The E-Myth Revisited by Michael Gerber
- BONUS recommendation (not mentioned in the show): Work The System by Sam Carpenter, on how to develop the systems mindset to transform your life and business and work less and less.