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This video is called, How to Transition From Active Income to Passive Income By Mike Pitt. If you want to subscribe to our YouTube channel, you can subscribe to the channel here. Mike Pitt is the Founder of Marketing Fundamentals Ltd, a B2B Content Marketing Agency in London.
In this video, Mike Pitt discusses, How to Transition From Active Income to Passive Income.
This video will be of interest to other content creators on YouTube, B2B marketing managers, Content Marketing professionals, Social Media Managers, business owners, and anyone with an interest in boosting their online income.
Active income is the traditional method of earning money via a job, with activ income an employee trades their time for wages that are paid to them. The employee has to be present at the workplace to earn their salary and travels to their workplace to execute their tasks. This model of income generation applies to people working in offices, shops and restaurants amongst others.
Passive income is a different model, with passive income once the product or service has been set up, income is generated on a recurring basis without the business owner having to complete additional tasks. An author is a good example, once they have written and published their book they can then continue to receive passive income from the sales of their book. In this video, I explore other passive income examples and explain how it is possible to transition from active income to passive income.
Have you got any sources of Passive Income? Do you want more? Let me know in the comments section below.
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This is video number 288 and blog post number 524.