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Passive income has long been the holy grail for entrepreneurs looking to free up their time, untethering the string of daily duties and responsibilities in the potential to generate healthy monthly revenues. Though the importance of passive income isn't often doubted, the monumental hurdle often needed to accomplish a decent amount of cash flow from automatically-recurring revenue streams is often too great for many to bear. .

Clearly, it's hard to generate passive income. It takes that the upfront investment of a significant amount of our time, usually with little to no returns for extended periods. We can go months and even years without a single dollar generated from passive income activities, making even the most astute entrepreneur shake their head in sheer and utter frustration. .

The truth of the matter is that time is a lot more precious than money. While money can be spent and earned, time can only be spent once, then it's gone forever. As we age and grow older, we understand the importance of the time and being able to freely choose what we do with these precious moments we do have in life. .

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All entrepreneurs seek passive income. What only a few know, however, is how to separate fact from fiction.

Wouldn't it be great to earn money while you're relaxing on the beachRelated: 17 Passive Income Suggestions for Automating Your Cash FlowFew concepts are somewhat more appealing than passive income. After all, what could be better than making money without having to perform any work When you read headlines which Amazon founder Jeff Bezos currently earns over $230,000 each second, it is only natural to start wondering how you too can earn money when you are not working.Even in case you don't generate as much passive income as Bezos, an additional source of revenue could allow you to leave the daily grind of this 9-to-5 workday so you might pursue entrepreneurial dreams or travel the world.But, generating passive income isn't as straightforward or straightforward as a few of the world's richest folks can make it appear to be.

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Even more importantly, it demands that you dedicate your own time and investments in the right areas.If you're serious about using passive income to increase your quality of life, you can't manage to fall for these seven persistent myths.1. You can"set and forget" your revenue streams.This is perhaps the most dangerous myth connected with passive income.We like the idea of not needing to perform any additional work after setting up a site or online shop.

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Website visitors anticipate new content on a consistent basis. People who enroll in an online course anticipate personalized support when they Passive Income In Sweden - Passive Income Ideas encounter a problem. The internet itself is constantly changing.If you aren't doing what you can to remain on top of industry changes, customer expectations and other responsibilities you'd find in any"busy" business, your passive income will quickly dry up.

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You will also probably need to continually fine-tune your idea to help it remain relevant.Passive income still requires an active presence.Related: 7 Ways to Generate Extra Income Even Having a Full-Time Job2. You only need a single weekend for started.It's easy to assume that anyone can throw together a blog or another passive income source in a single weekend.

Adams, bloggers need to find the right niche, choose a hosting platform and purchase a domain name just to get started. After that, they still need to learn about browser caching, SEO, permalinks and much more -- and don't forget about writing good content and uploading quality images!Needless to say, you probably won't have the ability to do this all in a single weekend.Be willing to spend some opportunity to learn the particular opportunities and challenges related to your idea, and put in the effort to get it right.

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Quality will win more than rate every time.Related: Serious Entrepreneurs Have 2 Aims: Exotic Income and Multiple Revenue Streams3. One solid source of income is you need.Another dangerous myth of passive income is that you can generate all the money that you need with a single source of revenue. This is similar to putting all your stock market investments into a single company.

By diversifying your revenue streams, you will get a greater probability of earning enough to encourage your needs.Related: 11 Ways to Make Money While You Sleep4. Real estate is the safest type of passive income.With home and land values increasing at a rapid rate throughout the country, many individuals are falling for the notion that property management and house flipping are simple procedures of generating passive income.In reality, effective property management is never really"passive." Property repairs and updates, dealing with poor tenants and other unexpected expenses are surprisingly common, eating away at the income you'd hope to generate from these endeavors.It quickly becomes evident that land management and other real estate investments seldom generate the ROI investors expect.

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