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Passive income has long been the holy grail for entrepreneurs looking to free up their time, untethering the cord of daily duties and responsibilities from 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 respectable amount of cash flow from automatically-recurring revenue flows is often too great for most to endure. .

Certainly, it is difficult to generate passive income. It requires the upfront investment of a significant amount of our time, usually with minimal to no returns for extended intervals. We can go months and even years without a single buck generated from passive income activities, making even the most astute entrepreneur shake their head in sheer and utter frustration. .

The fact of the matter is that time is far more valuable 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 that we do have in life. .

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All entrepreneurs find 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 more appealing than passive income. After all, what could be better than making money without having to do any job When you read headlines which Amazon founder Jeff Bezos currently earns over $230,000 each second, it is only natural to begin wondering how you too can earn money when you're not working.Even in case you don't generate as much passive income as Bezos, an additional source of revenue could make it possible for you to leave the daily grind of the 9-to-5 workday so you could pursue entrepreneurial dreams or journey the world.But, generating passive income isn't as simple or straightforward as a few of the world's richest folks can make it appear to be.

Even more importantly, it requires that you devote your own time and investments in the ideal areas.If you are seriously interested in using passive income to increase your wellbeing, you can't manage to fall for those seven persistent truths.1. You can"set and forget" your revenue streams.This is perhaps the most dangerous myth associated with passive income.We all like the idea of not needing to perform any additional work after setting up a site or online shop.

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Website check that visitors expect new content on a consistent basis. Individuals who enroll in an online course expect personalized aid when they encounter a problem. The internet itself is constantly changing.If you aren't doing what you can to stay on top of industry changes, client expectations and other responsibilities you would find in any"active" business, your passive income will quickly dry up.

You will also likely need to continually fine-tune your thought to help it remain relevant.Passive income nevertheless needs an energetic presence.Related: 7 Ways to Make Extra Income Even With a Full-Time Job2. You only need a single weekend for started.It's simple to suppose that anyone can throw together a site or another passive income source in a single weekend.

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

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

By diversifying your revenue streams, you'll get a better probability of earning enough to support your needs.Related: 11 Ways to Make Money While You Sleep4. Property 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 home flipping are simple methods of generating passive income.In fact, successful home management is never truly"passive." Property repairs and upgrades, dealing with bad tenants and other unexpected expenses are surprisingly common, eating away at the income you'd expect to generate from such endeavors.It quickly becomes evident that property management and other property investments rarely generate the ROI investors expect.