-Mahaveer Sanglikar
What is a passive income?
Passive income is the best way to have a constant money flow.
In simple words, a passive income is an income for which you do not work much, and you receive money for a long period on your initial work. The major benefit of passive income is the money flow towards you.
Some of the examples of popular passive income are:
Dividends on your investments in share market and other places.
Interest on your savings in banks
Profit share from the joint ventures where you are not a working partner, but just a financer.
Interest on the money you gave to somebody.
The business that you own, but you are not working there, as others are running the business.
Rent from the property you own and others are using it.
Royalties from the books you wrote, and other intellectual properties that you own, like royalties from your inventions, patents, ideas and concepts.
Sell of your photographs, artwork and designs through websites.
Network Marketing
Affiliate Marketing
Profit share or rent from your car/vehicle which is used by somebody else.
Long period commission on your initial work, like an insurance agent.
Any other income for which you do not work directly.
Please note that for tax purposes, some of the income types mentioned above are not considered as passive income, and definition of passive income is changes state to state.
-Mahaveer Sanglikar
If you really want to have a constant money flow, you should often think about money. Remember that you get what you want and what you think. If money is not in your mind, it will not come to you.
Think how you can get new customers and clients to buy your products and services.
Think about how you can increase your sell.
Think about how you can advertise your products and services.
Think about new opportunities.
Moreover, you should not think about the things which waste your time and money. If most of your time is passing in thinking and speaking about politics, movies, parties, sports etc., you are closing your doors to incoming money. I do not say that you should not think about such things at all, but be sure that you are not wasting your time in such things. Do not get addicted to such things.
Even when you are introduced to a new person, think how he/she can be helpful to you in increasing your business, and also how you can be helpful for him or her. Always exchange your business cards when you meet a new person.
Once you start to think about money, you will start attract money towards you.
-Mahaveer Sanglikar
IMP: Please read this article and share it on Social Networking Sites, then see the magic: Money will come to you....
If you are running a small business, especially a service oriented one, are you making money regularly? Or, you are always in a shortage of money?
If the money is not flowing constantly towards you, check what is wrong with you? What is wrong with your method of working?
Check these things:
Are you serious about your business? Do you work seriously?
Do you complete the work in or before time?
Do you have earned a good reputation through your business?
Do your clients refer your name to their friends and others for the service you provide?
Do you find new customers/clients regularly?
Do your friends, relatives and people in your town know about your business?
Are you serious about the money you earn? What do you do with that money?
Are you involved in time wasting activities which affect your business activities?
Remove this greatest obstacle:
I have seen that many people have a tendency to work only when they are in need of money. Such type of tendency is the biggest obstacle in having constant money flow.
