What is Passive Income all About?
Last Update: Sep 9, 2018
Hi Guys and Gals,
It's been a long time since I have blog here. Anyways,this is my idea about passive income. It could come from an online or offline business. I am doing both so I hope I can give you more insights on this topic.
Let's start with offline first. I do not consider running a pharmacy ( my wifey does) or a store a passive income source. Even though it provides a good income, but still a lot of work to do like inventories and stuff.
I am running a wedding venue for rent on my own property as well as Bed and Breakfast on the side. Bed and Breakfast are okay but still has some work to do. The wedding venue rentals, in my opinion, is the most passive offline business I have done so far.
The wedding planners handle everything, and I could command a higher price on the rent of my guesthouses which is packaged with the venue. I cannot do that with my Bed and Breakfast.
Now let's go to online business. I have been away for almost two months from my websites. I know it is bad, but I have to prioritize some things. Last June I had a visit from the family of my first employer. They use to own a yacht which I sailed with as a teenager around the islands here and eventually to Japan.
My employer just passed away, and the family ( the wife and daughter who are both Japanese and American Passport holders) are so bereaved that they wanted to retrace the places they have visited together as a family some 30 years back. So I took care of everything including accommodations in one of my guesthouses, and I gave them a free tour to Pescador Islands, Moalboal, Swimming with Whale Sharks in Oslob, Tumalog Falls, Sumilon Island, and a countryside tour of Bohol Island. Then I toured them to Cebu Safari and Adventure Park which is just an hour drive from my place.
You may think I am crazy to be so generous to them. Well, it is a sort of payback to them as they were so good to me when I sailed with them to Japan. It paid off as they are so happy with my hospitality. It turned out that they are interested in my projects and they are investing some money.
Anyways, aside from the busy time with my guests, I thought I have to prioritize my projects as my business is picking up. I need to scale up. Now, I am happy my Grand Piano Designed Swimming Pool is finished.
Now despite the fact I haven't blogged for two months I still have recurring commissions and new sales from my websites.
So which do you think is more passive, an offline business where you have to invest hundreds of thousands of dollars to start and another thousand of dollars to scale up or affiliate marketing where you only have to invest $24.91 per month if you go yearly?
Let's discuss in the comments below.
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