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34-year-old making $49,000 a month in passive income: What I always tell people who want to build successful side hustles

·2 mins


Building Successful Passive Income Streams: Debunking Common Myths #

In 2016, the author worked two jobs as a senior web developer and an adjunct professor while also doing freelance web development on the side. Despite lacking business knowledge at the time, they have now established over 10 passive income streams, generating around $49,000 per month. To help others achieve similar success, the author highlights three common myths about side hustles and passive income:

Myth #1: You need to spend money to make money Contrary to traditional business advice, the author shares their preferred online business model of print-on-demand. They initially started this side hustle on Amazon in 2017 with zero upfront costs and further expanded to platforms like Etsy, Walmart, and eBay. By employing print-on-demand, the author eliminates the need for inventory expenses until after a customer places an order.

Myth #2: You can make passive income without putting in the work The author stresses that building passive income streams requires time, dedication, and effort. Although they are heavily involved in managing their businesses, they acknowledge the possibility of stepping away from day-to-day operations after reaching income goals. They emphasize the importance of discipline and delayed gratification in achieving long-term success.

Myth #3: You need a team to help run your business While not against having a team, the author believes it is not necessary for success. They describe their seven-year experience running their business independently, attributing their ability to various available tools and automation. They mention the use of AI-powered tools like MyDesigns to automate design creation, create SEO-friendly product listings, and streamline the publishing process.

In conclusion, the author shares their journey of building profitable passive income streams and encourages others to challenge common myths surrounding side hustles. By debunking these myths and leveraging the right strategies and tools, individuals can strive for financial freedom and a more fulfilling life.