What is the best type of passive income stream in 2020?
We may earn money or products from the companies mentioned in this post.
When it comes to making passive income, there’s a lot of buzz words, scams, schemes, and all sorts of shady things that go on. However, if you know where to look, and you know what things REALLY work… you can start living an amazing lifestyle that’s abundant with both time and money. Let’s face it… we all want time. We all want money… but the problem with this is that most of the time, we can’t have both. If we want money, we were always conditioned to think that we should work more, work harder, and we’ll be rewarded. On the other hand, if we wanted more time to do the things we loved, we had to work less, take less responsibilities, and just take it day by day. I suggest you look for awesome passive income streams this 2020.
By having a passive income stream, you can do both.
Today, in this information age, it’s 100% possible to have a passive income stream at the comfort of your own home (especially now that we’re all basically stuck at home anyway!)
Way back, maybe passive income was something only the rich could do. I’m talking about purchasing a business franchise like a restaurant, a fast food chain, or maybe a café. Investments, stocks, and other similarly high value businesses that needs a big capital to start.
Now, in this age, there are a lot of high return income streams that don’t require that much of a capital like building an online start-up business in eCommerce, becoming a freelancer, or selling courses online (which is what I do). These types of businesses, if done right, can get you amazing income passively. Building courses for example — I’ve been doing this for quite some time now and I generate over $5k per month passively… that’s literally money in my pocket without doing any extra work. But that’s a story for another day.
Have you tried looking for passive income ideas last 2019 and 2020? Today, passive income generation is a lot easier and convenient. It’s amazing that I found the right passive income strategies! In the past, I’ve always wanted to reach THIS stage in my business. It took me a lot of hours, fell victim to lots of online scams, and lost countless amounts of money just to find out what works and what doesn’t.
Your advantage? You don’t have to go through that anymore — it’s ALL IN HERE!
Let’s talk Passive income stream 2020 for a minute
Like I mentioned, I’ve fallen victim to a lot of “passive income” scams in the past. It was mostly out of desperation too because I’m a mother of 3 boys and it got to a point where I was overwhelmed by everything I was doing — building my passive income business, taking care of my kids and my family, and of course, the pressure of being able to provide too.
I read tons of these schemes where you would invest money and it would “automatically” grow.
Why was that?
Because there’s no such thing as easy money guys. There’s no such thing as “automatic” money. There IS passive income/passive money but it’s NOT automatic. There’s a system to follow, hard work involved, and you need to be consistent with what you’re doing too.
So with that said, let’s move to one of the best passive income business ideas that I personally use! Are you excited to earn passive income online?!
The best way (For me) to earn passively
There’s no question that there are A LOT of ways to earn money passively these days. I know that, at some point, you have already searched for active income ideas you can do. However, if you’re looking for a way that doesn’t involve tons of hours or a huge capital just to start, you should look at building a course. For me, this is the best passive income stream!
Now — the next issue here is that there are lots of other coaches and entrepreneurs selling their own course online, their own program, their own service… all online especially because of technology taking leaps and bounds even today.
So, what makes Simple Profit different?
It’s because what I offer is a dynamic style of teaching. Dynamic courses. In other words, what you get in the course or the lesson is tailored just for you.
…and that’s a huge advantage when it comes to learning.
Let me ask you this — in a classroom, you have thirty or fourty students and you all get the same lesson vs someone who approaches a tutor for extra lessons. The question here is, who gets more input? Who learns more? Who has the edge?
The student who gets extra lessons right? But that’s the thing — it’s not just extra lessons. These are lessons tailored to that student.
We all learn (and teach, and talk, and act) differently. Meaning, an all-in-one course might not work for everyone. That means you already cut your market prospects without even doing anything yet… with that said, if you learn how you can offer dynamic courses, ANYONE can learn from you since your courses (in this case, my course) work for who you are, what you do, and where you’re at. There are many types of passive income streams, but building an online course is really promising.
Moving on — the best part about building courses to earn passive income is because when a course is complete, it works for you. That’s something that won’t stop working until you delete it (which you probably won’t do). It’s something online that works 24/7, 365 days a year without getting tired of teaching, talking, and educating other people.
…and when you’re finished with a course, the best part is, you can always make another course! That’s the beauty of building courses online.
Imagine if you earn $100 per month with one simple course. While it isn’t exactly a mind-blowing amount to earn, that’s $100 without doing anything anymore. Now let’s say, it took you around two or three hours to make that simple course… then you decide to make a week’s worth of courses. That’s $700 per month without doing anything anymore… and I think you see the pattern here.
It’s basically investing in yourself. Investing in what you know, and teaching others what you already know… because there are thousands and thousands of people who don’t know what you know but want to learn it. If you don’t know anything technical, simply read a book about something and teach it in a course.
Why would anyone want to learn a course that’s already available in a book? Simple… because there are just those people who prefer learning from someone else. There are tons of ways to do it and it’s extremely easy to start.
What is the best passive income stream? Why is building a passive income stream important?
Creating online courses! Building your own passive income source is important since it can help give you financial freedom in the near future. Passive income investments are golden opportunities! Click here and register for the Simple Profit Workshop to brainstorm your 5-figure Course Idea. Free only for a limited time!
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