Excerpt from Building Abundance; The Business Plan for Health Coaches -you can be happy, healthy AND wealthy
With passive income, you do the work once and you get paid for it over and over again. You do not have to be working to earn money. This sounds pretty good! It is a smart way to do business, or to supplement your income from a service business. Unlike active income, where you are limited by the number of hours you work, there is no limit to the amount of money you can make with passive income. Some examples of passive income are covered in this program; Ebooks, affiliate, Ecommerce, etc.
Knowing the possibilities helps you to plan and know where your income is coming from.
So simple, yet so direct. Thanks Cathy– yes, I need to find a way to gave this income stream wit the books, ecommerce or by being an affiliate. Problem is knowing where to start.
Makes me think of the saying never put all your eggs in one basket. You must diversify your income streams. Great reminder Cathy.
Cathy, you are simply the best. I appreciate your wisdom and insight. Thanks for this.
Very clear distinction between two very different income streams. So many of us are so locked into the whole hourly wage mentality that we don’t even notice that there’s a real limit to the number of hours in a day and therefore to the amount we can earn. Residual income overcomes that limitation.