30 Day Blog Challenge
Active v Residual
It served me well during my school days when I participated in debates and public speaking competitions. It serves me today as a speaker and facilitator.
This coupled with my love of people is why it is obvious to focus much of my business on Active income. Individual and group coaching, workshops, freelance writing and speaking events are where I put my effort in creating active income.
There is just one problem with trading time for cash, there are only so many hours in a day and I’m only one person so it makes sense to have a blend of both active and residual income.
A Blend works for me
The natural residual income extension of my active income stream is online courses and ebooks.
As you may have noticed in my last post I am currently in the process of writing 2 new ebooks and creating a new online course. These products will increase my income and my freedom, so I become less reliant on my time.
When working online and as a location independent business it only seems logical to have both active and residual income. Many would perhaps prefer a focus on residual income to free up more time to travel.
I, on the other hand need the human contact. I enjoy the challenge of working with my clients and helping them solve their problems. It gives me energy in a way that watching my ebook sales numbers never could.
What’s your businesses model? Active or Residual or a blend?