If you're heard the term “passive income,” you've probably also imagined yourself relaxing on a private beach while dollar signs float dreamlike above your head.
It sounds amazing, but is passive income realistic? In this episode of the Grey Matters podcast, Steve Dotto challenges our perceptions of passive income, which may range all the way from thinking of it as a pipe dream or a promised land for our online business.
Passive income has been on the same level as the Holy Grail or Aladdin's Lamp for years now. As entrepreneurs build our businesses, we repeatedly see assurances and promises online from soothsayers who guarantee they have the secret for how we can also achieve passive income. But it's important to define exactly what passive income is, and specifically what work must be done to try to succeed at.
Because passive income isn't all there is for us. There are several ways and means to make money with your business, and if we focus on passive income we may count ourselves out of other, more reliable methods to earn money through what we know or do.
By the end of this episode, you'll be able to define several ways you can earn income, and they aren't pipe dreams. With the right approach and effort, your income can get you a bit closer to that promised land of entrepreneurial success.
Links from this Episode
Steve's News Stories for the week:
Rachel's News Stories for the week:
- Weekly live, free tutorials – Webinar Wednesday
- Weekly live, paid business tutorials – Foundational Fridays (Business Building Blocks)
- Grey Zone on Facebook a place for Baby Boomers and GenX to meet, share and learn about online business
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Steve Dotto – Host
Canada's favourite geek.
For over 20 years, as host and executive producer of Dotto Tech, a nationally syndicated TV show, Steve entertained and educated millions of Canadians on all aspects of technology.
After spending 20 years in traditional broadcasting Steve reinvented himself learning the world of social media, online community building and Internet Marketing as he built his YouTube channel into his new career.
His passion is teaching Baby Boomers and GenX how to remain relevant in the digital age, how we can reinvent ourselves and grow side hustles into successful online businesses.
Steve has a gift for making complex concepts easy to understand. Steve takes the world of technology and makes it relevant in your life.
Rachel Moore – Producer
From stage to studio, Rachel has honed her skills as an entertainer, producer, and marketer throughout her 20+ year career. As technology and communication has evolved, so she has carried her skills in writing, graphic design, and production forward into digital marketing, livestreaming, and podcasting.
In addition to working as a fulltime content marketer, Rachel hosts her own livestream show Social Glue, publishes helpful how-to videos to her YouTube channel, and produces entertaining and insightful podcasts for Really Social as well as Grey Matters.
Bottom line: if there’s a camera, microphone, and/or stage involved, Rachel can carry the message in a memorable way.