Your goal in business should be to create enough passive income that you can pay for your desired lifestyle. This will allow you not only financial freedom but time freedom as well. Who wants to start a business only to become a slave to that business and never have any time to relax and enjoy yourself? There are several types of businesses that provide passive income. These may include any of the following:
1. Car wash
2. Internet business
3. Parking lots
4. Earning royalties from a product you invented or business you created
5. Memberships
6. ATM machines
7. DVD dispensers
8. Cell phone apps
9. Joint ventures
Passive income may also come from investments like stocks, bonds, and real estate. Remember your goal with passive income is to be able to live off of it so you may want to use more than one source to build up the income you will need. If your passive income is coming from stocks or some other similar investment be sure to only take the interest from that investment as your passive income. If you wipe out the entire investment then your passive income stream is gone and you have essentially killed the goose that was laying the golden eggs.
To learn more about setting up passive income streams attend T. Harv Eker's next Millionaire Mind Intensive. You can get a free ticket from the link below (these are usually $795):
http://www.peakambassador.com/cmd.php?af=mmi5202&p=1
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