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How to make 10K per month completely passively

How to Make $10K per Month Completely Passively?

Are you tired of scrolling through endless articles and videos promising passive income solutions? Well, here's a reality check: making $10,000 per month passively, especially if you're broke, is not a realistic goal. The truth is, there's no such thing as effortless wealth, especially when you're starting from scratch. Instead of chasing passive income dreams, it's crucial to focus on generating active income through a service-based business.

The Importance of Active Income

If you find yourself in a financially challenging situation, worrying about passive income is simply not practical. Instead, directing your attention towards active income can provide a more viable path to financial stability and growth. Active income refers to income generated from actively providing a service or running a business.

By building a service-based business, you can start with minimal capital and potentially earn significantly higher wages than a minimum wage job. Depending on the skills you offer, you can earn anywhere from 100to100 to 200 per hour, or even more if you provide specialized services.

Transitioning to Passive Income

While it may not be entirely passive, once you establish a successful service-based business, you can gradually automate your operations. Automating your business enables you to focus on the strategic aspects and dial in the necessary adjustments for growth. Although it may not be 100% hands-off, with proper systems in place, you can come close to experiencing passive income.

It's important to note that even when your business reaches a more automated state, you'll still need to invest some time to ensure everything runs smoothly. Monitoring progress, maintaining customer relationships, and making necessary adjustments will still be necessary to sustain and expand your business.

Finding the Right Business Opportunity

If you're intrigued by the idea of starting a service-based business, you may be wondering which type of business to pursue. We recommend exploring our YouTube channel and other resources to discover different business opportunities that align with your skills, interests, and market demand. Each industry has its own unique potential for success, and research and exploration will help you find the best fit.

Remember, starting a service-based business allows you to leverage your skills and generate income actively, which can eventually lead to a more automated operation and potentially achieve a semblance of passive income.

Keywords

Making Money, Passive Income, Active Income, Service-Based Business, Automate, Financial Stability

FAQ

Q: Is it realistic to make $10,000 per month passively if I'm broke? A: No, making such a significant passive income, especially if you're starting with limited resources, is not realistic. It's essential to focus on generating active income first.

Q: Can starting a service-based business help me earn more than a minimum wage job? A: Yes, by offering valuable skills or services, you can potentially earn significantly higher wages, often ranging from 100to100 to 200 per hour or even more.

Q: Is it possible to transition a service-based business to a more passive income model? A: While it may not be entirely passive, you can automate your business over time, allowing you to focus on growth, strategy, and making the necessary adjustments for success.

Q: What resources can help me choose the right service-based business opportunity? A: There are various online resources, including YouTube channels and other informational platforms, that can provide insights into different service-based business ideas. Research and exploration are key to finding the right fit for your skills and market demand.