Thursday, April 19, 2018

How to Create MULTIPLE Streams of Passive Income

In this video, I'll teach you how to create multiple streams of passive income.

I've generated an income from over 100 different products across various niches and business models, and I've learned a lot of lessons along the way. One of those lessons is how important it is to diversify. By creating multiple streams of passive income, you're able to reduce your risk since you're not relying on just one product or business model or platform for your income. With that said, it's important to add new streams of income STRATEGICALLY, or else you could dilute the strength of your current offerings.

You want new products and offerings to compliment what you already serve your audience with. And finally, always know that 1) new income streams and passive income opportunities DO NOT start out passive, they are very active and need work and care and a lot of effort, and 2) there's no such thing as 100% passive income.

You can create systems that allow you to walk away from time to time and take time off while still having the businesses to continue to run for you, but no passive income (other than royalties from previous works) is 100% forever passive income. Subscribe to this YouTube channel: Want to learn more about the smart way to make money online and start a successful online passive income business (without ripping people off or being dishonest)? Then make sure to visit the Smart Passive Income getting started page below: Building an email list? Watch my latest video: "How to Get More Email Subscribers (17 Lead Magnet Ideas)":
Pat Flynn

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