Many people started Online Business for Passive Income. Is it true it’s easy to generate passive income right after starting online business?
What is passive income and active income?
Passive Income
“Passive income is an income received on regular basis with little effort required to maintain it.”
Meaning that the money will still come in even if you are sleeping at night because your business or investment runs 24 hours, 7 days a week and 365 days a year.
Active Income
“Active income is the income when you have performed a service or sold a product. That includes your salary, commission and even income generated from the business.
Basically it means if you are working, you earn money. If you open a shop to sell something, regardless products or service, there’s income generated from the sale. If the shop is closing at night, there’s no sale and no income generated.
During the old days, our parents and grandparents work hard to earn the money for a living.
After outbreak of Covid-19 pandemic, when many countries locked down, countless self-employed, business owners, investor, workers lost source of income. Many people started deep thought on Passive Income.
Online business became hot cake, and everyone wanted to start their new venture as Plan B.
What to sell, where to sell, how to sell became the Question Marks ???
Many friends of mine running online business since long ago or recently, bought plenty of stock, keeping at home, packing, post. If lucky, they will be busy buying, reply message, packing late night to post, sometimes even running out of stock; if unlucky, the left over stock will be kept at home forever.
Hence, before investing time, money and effort, shouldn’t you examine the best platform, products/service so that your life will get easier for years to go?