Leveraging automated systems and other people’s products and expertise is one of the simplest ways of generating a passive stream of income. However, “passive” can be misleading because, as with any serious project, you still need to ensure the processes in your business run are running smoothly.
Passive income has long been the holy grail for entrepreneurs looking to free up their time, untethering the cord of daily duties and responsibilities from the potential to generate healthy monthly revenues. While the importance of passive income isn’t often doubted, the monumental hurdle often required to achieve a respectable amount of cash flow from automatically-recurring revenue streams is often too great for most to bear.
Clearly, it’s hard to generate passive income. It requires the upfront investment of a significant amount of our time, usually with little to no returns for extended periods. We can go months and even years without a single dollar produced from passive income activities, making even the most astute entrepreneur shake their head in sheer and utter frustration.
Here are 17 innovative ways both on and offline to get you started …
Read the full article at: Entrepreneur.com
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