I couldn't even finish reading this it was such BS.
1. An ebook is a shitty source of passive income. People buy it once and there will be a limited market for it, specifically if you are targeting a niche. Anyone who thinks an ebook is the path to financial freedom is an idiot. You need to find a market you can serve where people pay monthly or have to order your product regularly (something that runs out/gets used up).
2. If you're aiming for passive income why are you building a team?? When you need something done you hire a freelancer for a few weeks, solve the problem and move on. If you require a team and 'great talent' you're running a startup, not a passive income business.
3. Your customers won't leave if they realise you aren't spending all your time on the business. This doesn't mean you don't care about them. Of course you do. Without them you would be working 9-5. If you have a superior product they will stay with you. Your customers only care that you have a good product and are there to help when they need you. How much free time you have is your own business.
4. You can stay ahead of the competition. People who run these types of businesses don't spend all day doing nothing. With the business generating income passively you have more time to research how to stay ahead of the competition. If someone is coming out with a better product you can spend 100% of your time improving yours and once you're competitive advantage is maintained, go back to living your live.
The best passive income are some good equity/income Investment trusts.
Just before Christmas a checked one of my Investment accounts and found that I had an extra £1500 in dividend income that I hadn't realised I had.
And in the UK maxing out your share save (share options) should your company offer it is a no brainer - the one that is just due to end at BT is returning over 50K (tax free) on an investment (over 5 years of 8k)
Actually, I'm continuously shocked by what people are able to earn off ebooks and guides. It's more than you think. But takes real marketing legwork and finesse.
1. An ebook is a shitty source of passive income. People buy it once and there will be a limited market for it, specifically if you are targeting a niche. Anyone who thinks an ebook is the path to financial freedom is an idiot. You need to find a market you can serve where people pay monthly or have to order your product regularly (something that runs out/gets used up).
2. If you're aiming for passive income why are you building a team?? When you need something done you hire a freelancer for a few weeks, solve the problem and move on. If you require a team and 'great talent' you're running a startup, not a passive income business.
3. Your customers won't leave if they realise you aren't spending all your time on the business. This doesn't mean you don't care about them. Of course you do. Without them you would be working 9-5. If you have a superior product they will stay with you. Your customers only care that you have a good product and are there to help when they need you. How much free time you have is your own business.
4. You can stay ahead of the competition. People who run these types of businesses don't spend all day doing nothing. With the business generating income passively you have more time to research how to stay ahead of the competition. If someone is coming out with a better product you can spend 100% of your time improving yours and once you're competitive advantage is maintained, go back to living your live.