Passive income is a type of income where the person or company who receives it does not actively work in the business. The idea is that the money will be passive, meaning it will come in without any work being done. Passive income can be generated from a variety of sources, including investments and real estate.
The first step to building a passive income is to start saving money. You need to have savings that you can invest into your business. When you start saving, you are setting yourself up for success and creating an opportunity for passive income down the line.
