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“Passive income is earnings derived from a rental property, limited partnership or other enterprise in which a person is not actively involved“ If you have cus
by TruffleLabs 8y ago
“Passive income is earnings derived from a rental property, limited partnership or other enterprise in which a person is not actively involved“
If you have customers, employees, contracts, websites, marketing, invoices, etc, then there is involvement. Meaning it’s not so passive.
;)
- nathan_f77 8y agoThat's a good point. It's definitely not as hands-off as buying shares in an index fund, or paying a property management company to manage a rental property. I do have to be on call in case someone calls or opens a support ticket, or if there is a problem with the servers. But all the technical and billing stuff is automated. And if I want to have a long vacation then I make the conscious choice to neglect marketing and sales. But the next step would be to find some virtual assistants who can help with support and marketing.