#25 Own A Business
There’s an important caveat with this passive income strategy.
The goal of “passive” income is for it to be, you guessed it, passive.
But when most people start a business, they want to be involved in every step of the way.
If their goal of starting a business was so that they didn’t need a job anymore, then being too hands-on is the wrong way to approach it.
If you’re too involved with the minor things of your business, then you didn’t eliminate your job. You just created a new one.
Owning a business is a great way to build a passive income if you can let go and have other people run the business for you.
You would still own the company and provide vision, but you’re not involved in the day-to-day happenings.
That is a passive income stream.