When you start a business you will have to work really hard, however, once you are able to build the business, you will start making money even when you are sleeping. The best example would be Amazon. Jeff Bezos worked day and night to build Amazon and these days he makes money even when he is sleeping. Do you make passive income through your business?
Are you making passive income through your business?
- Thread starter nomad
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At the moment I am not making a passive income through my business but that is a goal I would love to achieve within time.
As with anything and especially passive income, it takes time and a lot of hard work for sure and I know as long as I keep working, eventually I will see a passive income.
As with anything and especially passive income, it takes time and a lot of hard work for sure and I know as long as I keep working, eventually I will see a passive income.
It is not easy, there are many things to consider like the monthly rent of the space, the salary of the two workers, the procurements of the stuffs and others. Then, there is an ongoing controversy that shocks the entrepreneurs of milk tea, the health department in my country sent memos anywhere in my country telling not to drink milk ea because it could create addictions to the drinkers. That issue s sttll pending this time. I am afraid of this.
I do not own a business but I am earning passive income from other business. I have worked for a tech start-up years ago. Since they could not afford to pay me a decent salary, they offered me shares instead. I accepted their offer. They have grown a lot over these years. Although I no longer work for the company, I am receiving dividends from the shares I own in the business every year.
I have a little business that I am starting with and I am very happy that I am earning even just in small amounts since I just merely consider it as one of my extra income for future savings.
My kind of business will not allow me to earn without my presence and hardwork. I think most of the business we have today won't allow you earn a passive income from it.
It remains very difficult to make a passive income from online businesses for those who are not well connected. Often the relatives, friends of powerful officials, politicians are getting control of passive income websites, and they block orders.
The only passive income that I have is from the rent of my two apartments. Right now, I have to invest a bit again into them as tgey being old need some repair and renovation. I have not increased the rental in the last four years ( in between pandemic hit the earnings of my tenants). We plan to do the regular increment from next year.
It is good to increase the fee of rent to cover cost of repair and renovation.
It is not problem since not every one should earn passive income it is feature for some people and some others doesn't have methods to do, you still have some other methods to earn money.
Yes, it would be a wise decision go do so financially and it's logical too. The current tenants have stayed in the property for more than six years and are quite well behaved. They have kept the place clean and moreover being a small family, they don't own the car parking space. That's a big advantage. I use the car parking for our second car. The rent generally includes the car parking too. They have a two wheeler and it easily fits into our space along with my car
I am earning passive income from my business. It was difficult to start and establish. Competition is very high in my business.
You are the owner, but you have to make decisions to keep your business growing. The feeling of financial freedom is really, really good.
You are the owner, but you have to make decisions to keep your business growing. The feeling of financial freedom is really, really good.
It is good to always make passive income from whatever one is going to find themselves. As the things stands right now I don't have any other passive means of income at the moment which is not nice to me at all and that I what I have been waiting and looking for all my life because it would save me a lot of stress searching for money with all of me.