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Passive income has long been the holy grail for entrepreneurs looking to free up their time, untethering the cord of daily duties and responsibilities in the potential to generate healthy monthly revenues. While the importance of passive income isn't often doubted, the monumental hurdle often needed to achieve a decent amount of cash flow from automatically-recurring revenue flows is often too great for most to endure. .

Clearly, it is hard to generate passive income. It takes the upfront investment of a significant amount of the time, usually with little to no returns for extended intervals. We can go months and even years without a single dollar generated from passive income activities, making even the most astute entrepreneur shake their head in utter and utter frustration. .

The truth of the matter is that time is a lot more precious than money. While money can be spent and earned, time can only be spent once, then it has gone forever. As we age and grow older, we understand the importance of time and being able to freely choose what we do with these precious moments that we do have in everyday life. .

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All entrepreneurs seek passive income. What only a few know, however, is how to separate reality from fiction.

Wouldn't it be great to earn money while you're relaxing on the beachRelated: 17 Passive Income Ideas for Automating Your Money FlowFew concepts are more appealing than passive income. In the end, what could be better than making money without having to perform any work When you read headlines which Amazon founder Jeff Bezos currently earns over $230,000 each second, it's only natural to begin wondering how you too can earn money when you're not working.Even in case you don't generate as much passive income as Bezos, an additional source of revenue could allow you to leave the daily grind of this 9-to-5 workday so you might pursue entrepreneurial dreams or travel the world.But, generating passive income isn't as straightforward or straightforward as some of the planet's richest people can make it appear to be.

Even more importantly, it requires that you devote your own time and investments in the ideal areas.If you're serious about using passive income to increase your wellbeing, you can't afford to fall for these seven persistent truths.1. You can"set and forget" your revenue streams.This is possibly the most dangerous myth connected with passive income.We like the notion of not needing to do any additional work after setting up a site or online shop.

Passive Income In Sweden - Passive Income Ideas - Truths

Blog visitors expect new content on a consistent basis. Individuals who enroll in an online class anticipate personalized support when they encounter an issue. The internet itself is constantly changing.If you aren't doing your part to stay on top of industry changes, customer expectations and other responsibilities you would find in any"busy" business, your passive income will quickly dry up.

You'll also likely need to continually fine-tune your idea to help it remain relevant.Passive income nevertheless requires an active presence.Related: 7 Ways to Generate Extra Income Even Having a Full-Time Job2. You only need a single weekend to get started.It's easy to suppose that anyone can toss together a blog or another passive income source in a single weekend.

Adams, bloggers need to find the right niche, choose a hosting platform and purchase a domain name just to get started. After that, they still need to learn about browser caching, SEO, permalinks and much more -- and don't forget about writing great content and uploading quality images!Needless to state, you probably won't have the ability to do this all in a single weekend.Be willing to take the opportunity to learn the particular opportunities and challenges related to your idea, and put in the effort to get it right.

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Quality will win more than speed every time.Related: Serious Entrepreneurs Have 2 Goals: Exotic Income and Multiple Revenue Streams3. One solid source of income is all you need.Another dangerous myth of passive income is that you can generate all the money that you see post need with a single source of revenue. This is like putting all your stock exchange investments into a single company.

By diversifying your revenue streams, you will have a better likelihood of earning enough to support your needs.Related: 11 Ways to Make Money While You Sleep4. Real estate is the safest type of passive income.With home and land values increasing at a rapid pace throughout the country, many individuals are falling for the idea that property management and house flipping are straightforward procedures of generating passive income.In fact, successful home management is never truly"passive." Property repairs and updates, dealing with poor tenants and find out here other unexpected expenses are surprisingly common, eating away at the income you would expect to generate from such endeavors.It quickly becomes evident that property management and other property investments rarely generate the ROI investors anticipate.