5 TIPS TO CREATE A PASSIVE INCOME?
1. Define your customer - identify a gap in the market where you can pinpoint a specific target audience.
2. Solve your customers problem - once you’ve identified the gap and your customers create the product that removes the customers problem.
3. Take action or nothing will happen - once you have your idea, create a plan with a step by step process on how you are going to get that product in front of your potential customers.
4. Outsource & Automate - once you have the product on the market, whether that’s via e-commerce, social media, or website etc... look to document all of your processes and either outsource or automate. The quicker you can do this the faster your income will become less hands on and more passive.
5. Re-invest profits made to expand your reach - probably the second most important thing following automation and outsourcing. For the initial few months of business, reinvest the profits you make into expansion. The aim is to grow whilst your automate, if you can get the balance right it will put you in a great position to generate a ever growing passive income.
At Lolite Homes we take all of the work from you and just deposit the profits into your bank account. Life is worth living, so go and do it! ✌️👾 #teamlolite