- With a downturn possibly on the way, founders are looking for ways to supplement their earnings.
- Passive income is a way to accumulate money without working around the clock.
- Business owners can look into options like YouTube and dropshipping to make passive income.
For some entrepreneurs, passive income is a part of their lifestyle — it helps them earn money without working around the clock.
Sources of passive income require minimal effort to maintain once the hard work is done, such as renting out a property you’ve bought. It can give entrepreneurs more flexibility and time to focus on other business ventures while still earning enough income.
As some experts say the US economy could slip into a recession, generating passive income can be appealing for founders, especially as opportunities to raise venture capital this year have decreased.
In January, the e-commerce platform Shopify published a list of 30 ways to earn passive income and build wealth.
From selling online courses to building YouTube channels, here are eight ways business owners can make passive income to supplement their earnings.
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