Business:Entrepreneurship
“Passive income has to be one of the most delightful ways to make money.”
— Melissa Houston
Passive income. The holy grail. The type of revenue that everyone dreams about, right?
I’ve got to tell you, I have some strong opinions about it!
Passive income happens when you invest your money somewhere and your money starts working for you. This can mean investments in financial products or royalties… but it can also mean certain business ventures (some more promising than others!).
Course creation is the latest thing in the online business world. Everyone is talking about it and everyone seems to be interested in launching their own online course — or even academy. The “7-figure launch” is talked about as if it is commonplace and the prevailing idea is that course creation is the surefire path to consistent, impressive passive income.
Full disclosure: I even tried to launch my own course.
And I am here to tell you there is NOTHING passive about course creation!
Yes, I’m here to kill the party. But don’t worry — I’m not leaving you emptyhanded.
If you’re interested in creating income that really is a little more passive, then this is the solo episode for you!
In this episode, I not only bust the myth of the 7-figure launch, but I share some great tips for investing in financial products, rental property, the stock market, and more! Bonus: you even get a little peek inside my own portfolio!
In this episode, you’ll discover:
- Whether or not passive income is taxable — and how it is calculated
- Which income-producing products to consider when you’re ready to invest — and how often to review your investments
- What you need to already have in place if you want a chance at creating a successful online course
Highlights:
01:04 Intro
03:43 Join us on Facebook!
06:01 Passive income
07:12 Taxability
08:58 Time investment up front
10:04 Stock market part 1
13:21 Course creation
15:40 6 & 7-figure launches
17:11 Bonds & GICs
18:39 Stock market part 2
20:34 Rental property
21:57 Royalties
23:12 Affiliate marketing & fractional investing
24:22 Outro
Links:
The Business Society Community: For Entrepreneurs Who Want MORE Profit: https://www.facebook.com/groups/2492571604329032
The Business Society: https://thebusinesssociety.co
5-Step Roadmap to Biz Finance Freedom: https://melissahoustoncpa.lpages.co/5-step-biz-finance-roadmap
Work with me: https://www.melissahoustoncpa.com/work-with-me
Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com
Need a Fractional CFO? Check out The Fractional CFO Agency!
Work with me:
- Book a 90-minute Strategy Call
Follow me on:
IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa
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