I've been thinking about this phrase a lot lately.
And what's been becoming clear is that the definition of this word seems to be highly subjective, and perhaps has totally changed (maybe in the last five years...)
What "Passive Income" used to mean:
An example of traditional passive income business model might be something like:
- I own an apartment building.
- I pay a guy to fix things there that break.
- I pay another guy to collect the rent.
- I pay another guy to do my taxes.
- A check comes to me once a month and, even after I pay these three people, I still have a bunch of money left over.
However, in Internet Marketing, the definition of Passive Income seems to be.
- I own 45 websites.
- I "work on" these websites constantly (often 14 hours per day)
- I pay several 3rd parties to do things like produce content, build backlinks, manage writers, fight off spammers, prevent me from getting hacked, and handle general computer issues that come up hourly.
- I have NEVER worked harder in my life. But, I work in my pajamas so, this is Passive Income.
Obviously I'm exaggerating.
But, seriously, not much...
Just curious: Does anyone have the same feeling about IM sometimes?
How do YOU define "Passive Income" and has anyone hear obtained it yet?