Let’s look at the advantages of an online business first
Starting an online business has several key advantages over traditional brick and mortar storefront businesses.
✅ They require a fraction of the capital to set up as a regular business does.
✅ They have fewer running costs. No staff, rent or utilities, etc.
✅ They can be managed from anywhere in the world at any time of the day or night.
✅ There are no limits on when or where you can do business.
✅ There are no limits on the number of products or services you can provide.
✅ They take a fraction of your time to manage.
✅ They are Highly Scaleable! Meaning more potential income!
✅ They can give you a consistent Passive Income.
✅ They have the potential for multiple income streams online.
What Is A Passive Income And Why?
An online business has the capacity to operate 24/7 allowing you to make money any time of the day or night without you having to be there for hours on end. There will always be a small amount of work required, but nothing compared to the hours required to operate a traditional storefront, brick and mortar business.
Basically, you do the hard work once and get paid continually or multiple times over, no longer trading every hour of your time for a certain (limited) amount of money.
Other examples of passive income would be rental income from a property, royalties from a book, dividends from a share portfolio or even affiliate marketing, for instance
Why you NEED a passive income!
A passive income allows you to stop trading your time for money! So essentially it will give you back your time while you’re still earning money passively! It will allow you the time and freedom to enjoy life again. To spend it with whoever you want, whenever you want, doing whatever you like!
Imagine having the time (and money) again, to travel whenever you wanted to. Or more time to spend with the kids and family. Play more golf? Imagine being able to retire early, or at least when you wanted to, knowing that you had a secure and continuous income to support you and your family for life!
Whatever your reason(s), I would encourage you to stop for a moment and consider the possibilities and what it could mean to you and your family, not just now but for years to come.
Stuart Ross, co-founder of the SFM (the Six Figure Mentors)
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