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What happened
This article explores six different passive income ideas that small business owners can implement to generate additional revenue streams.
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Key insights
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1
Diversification of Income
Small business owners can benefit significantly from diversifying their income streams through passive revenue ideas, which can provide financial stability and growth.
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2
Investment in Digital Products
Creating and selling digital products, such as e-books or online courses, can be a lucrative passive income source with minimal ongoing effort after the initial creation.
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3
Utilizing Existing Assets
Leveraging existing business assets, such as real estate or intellectual property, can be an effective way to generate passive income without significant additional investment.