Passive income is never really passive.
Although it gets touted as easy money, most passive income streams are the result of hard work: building an audience, optimizing paid ads, and delivering a great experience and a superior product. However, as a current or aspiring business owner, you’re not afraid to put in the time to do all of those things, and you might already have all three checked off your list.
Adding passive income streams to your existing business can create a revenue source with markedly different underlying economics. Typically, these income streams will have higher profit margins and can scale more easily than services or physical products—giving you more flexibility overall in your business.
And if you're just getting started, a high-profit-margin product can be a great way to build your business and earn money to invest in your next phase, as long as you go into it with the understanding that even though it’s …