Let’s face it: not a long time ago the theory of 4 working hour week was just a dream. But now, if you look at all the tendencies, social media ads, business guidance books they are all about the same topic: work less and earn more.
Most of my friends and partners are wishing the same: having a stable monthly income without actually working. So, why not, you should consider making your business the source of passive income stream.
There are so many different passive income streams. The best solution to have various streams not just rely on one.
Here are the most common ones that probably you have heard of:
– using the stock market for dividend investing
– renting a property, garage, even a parking place
– create a blog or create an online course
– selling an ebook, stock photos
– create an app,
– licenses for invention(s)
– turn your car/ or your house to be a marketing tool to put an advertisement on it
Some of them require great investment, some of them require only your knowledge. Only creativity can limit your plans. But, be honest, almost none of it is really passive. If you are investing in the stock market you have to be up-to-date with news and manage your portfolio regularly. If you rent out your house you need to handle (or at least check on) utility bills or pay occasional repair works. All options will require putting in money, time and effort.
But if you already think about creating passive income streams, why don’t you think about your business as a possible opportunity?
Yes, I know, this is your baby, kept you awake during sleepless nights, you gave it care and actually love. I know all of this, and I agree with you: your business is precious and you cannot leave it as a way it is. Or can you? Gradually, in a way you can let your 20 years old baby on her way, you can let, step-by-step, your business run.
Why would you do that? Just think about it: you will have more time to be creative, maybe create another business, maybe build up another passive income stream (never enough) spend more time with your family or just lay on the beach, whichever is your true calling beside your work.
And maybe now you are shaking your head: my team is there to back me up wit all the small tasks. In small or middle sized enterprises it is an endless catch 22: everyone is doing everything. Why not free them a bit and ensure them more space to be creative and focused on their original core-job?
An operational manager can help you step-by-step to automate, outsource and do this on the rock-solid basis of business procedures. Just imagine how your life would look like if you did not have to micro-manage your business: you don’t have to deal with day to day tasks, administration and putting out the fire – instead, you can focus on development and new ideas. Outsourcing activities, automation processes were never been easier than it is now. When you are ready to let your business flow it is natural way with well-designed processes you can have a fresh eye on new things and be a creator not a follower.
Having doubts? Feeling lost? Don’t know where to start? Contact me and I can answer all your questions.