Re: Is Passive Income Just A Buzzphrase?
nicholasb- Yes it is something that can be done, but not in the way people think
To me passive income is taking the time to create a product and write the copy. Then putting a JV Broker in charge of setting up my JV deals for automated traffic and sales. Then paying my wonderful support team to handle support.
So once the work is done and the right people are in place the income is generated without much else effort on my part.
I do have to check in on things and if a problem arises I have to tell people how to handle it, but I would say my business is 95% passive.
Get Rich Methods - I have 4 passive income methods.
I do see your point, though, Luke. (And it's an excellent post; very thought-provoking.) In my opinion, a lot of the so-called passive income models are just hyperbole. I mean, even if you have to outsource a method, you still have to oversee the employee, monitor them, pay them, reply to emails.
Only way I've ever attained passive income models has been twice by luck, once by thinking out of the box, and once by reworking a method given to me.