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A Passive Income Success Story
If you’re a freelancer, passive revenue streams can amplify your income beyond your hourly efforts. It’s worked out well for me.
I didn’t have a business plan when I left corporate America and launched my career as a self-employed software development consultant and trainer. Eventually I came up with an appealing business objective: Earn a living while I’m asleep. That lofty goal then forced the question, “How am I going to do that?”
As an independent sole proprietor, every penny of revenue came through my personal efforts. The trick was to figure out how to produce as much income as possible with little effort. I came up with several ways to generate ongoing passive income streams after some initial investment of effort. Collectively, these have yielded more than six figures of revenue for quite a few years. Perhaps some of these seven ideas will work for you.
Income While You Sleep #1: Book Royalties
Book royalties are a gift that can keep on giving, with some caveats. Follow this simple procedure:
- Write a book. After authoring fourteen books, I can tell you that this is not trivial.
- Make sure it’s a good book. Ideally, it will accrue many positive…
