Latest news with #smallbusinessowners
Forbes
25-05-2025
- Business
- Forbes
Passive Revenue: How To Make More Money And Work Less
What if your next income boost didn't come from working harder, but from earning money while you ... More sleep? What if you could work half as much and still grow your income? What if the next revenue boost didn't come from working harder, but from your business earning money while you sleep? That's not a fantasy. That's passive revenue done right. And if you're a freedom-focused business owner, it's one of the smartest ways to build a more valuable, sellable business, while taking back your time. In this article, I'll break down what passive revenue really means (and what it doesn't), how to start building passive revenue streams this year, and nine powerful ideas to help you earn more while working less. Whether you're growing your business to sell it at some point, or just want more financial freedom, passive income is one of the most underrated strategies in your toolkit. Passive income is money earned with minimal daily involvement from you. It's not about doing nothing, but about setting up assets and systems that keep generating income, even when you're not actively working. This isn't a get-rich-quick hack. It's how some of the savviest small business owners build real wealth, step away from their business to go on holiday without panic, or prepare their business for a high-value exit. Think digital products that sell automatically. Memberships that renew monthly. Licensing deals that pay out every quarter. Investments that grow while you sleep. Passive revenue is the opposite of trading time for money. And for small business owners, it's one of the best ways to increase business value while gaining the freedom to actually enjoy the business you've built. Let's bust a myth: passive revenue doesn't mean zero work. It always starts with an upfront effort: setting up the asset, building the system, or doing the initial marketing. But once that's done, it can generate income with very little input from you. It's also not limited to tech bros or online entrepreneurs. Passive revenue isn't about crypto, dropshipping, or real estate empires unless that fits your model. For service-based business owners, coaches, consultants, or creatives, passive revenue can look like: Passive revenue is about creating leverage. And if done right, it can keep flowing even when you unplug for a week, or step away permanently, like when you sell your business. Start small and build from what you already have. If you're a busy business owner, you don't need a massive launch or six months off to create your first passive revenue stream. You need a clear focus, a system that can run without you, and a product or offer that solves a problem your clients are already asking about. Here's a simple framework to follow: The goal isn't perfection. It's progress. Every passive product or passive revenue stream you build is one more step toward owner-independence, which is exactly what makes your business more valuable and more attractive to buyers. Let's break down nine proven ways to earn passive income in your business. Each of these can be started today with the tools, content, and skills you already have. Think checklists, templates, planners, swipe files, or downloadable tools. Package something you already use or created for a client. Host it on a platform or your own website. It sells on repeat, without your time attached to every sale. Why business buyers love a business that sells digital products: It's repeatable, scalable, and runs without you. No, you don't need 10 hours of video or a massive launch. A 60-minute, high-impact workshop can be enough. Teach a specific result, record it once, and automate delivery. Tip: Focus on outcomes, not overwhelm. Shorter is better if it gets results. Already writing or sharing insights? Turn that into a weekly paid newsletter on Substack or Beehiiv. Share exclusive content, insights, or curated tools. It's low overhead and high trust. Recurring revenue through a paid newsletter + a direct relationship with your clients = major appeal to business buyers. Recommend software, tools, or books you already use and love. Use affiliate platforms or apply directly to the affiliate programs that almost all software tools have. Add your affiliate links in blogs, newsletters, or content you're already creating. Affiliate income builds quietly and compounds over time. Do you have a process, curriculum, or content that others want to use? Offer it as a licensing deal. This works especially well for educators, consultants, or coaches. You get paid and they get to deliver your genius under license. Have extra office space? Photography gear? An underutilized property? You can monetize thse assets without adding much work to your calendar. This won't be your core business, but it adds monthly revenue and buffers risk. Yes, it takes time to build, But once you have a content library, it works for you 24/7. Monetize via ads, sponsorships, or affiliate links. Build once. Earn often. Also: these platforms build long-term brand value and can drive organic leads to other offers. Recurring revenue = predictable income. Whether it's a Slack group, coaching vault, private forum, or resource hub, memberships can scale with minimal effort if designed well. Bonus: recurring revenue improves business valuation when you decide to sell. Extra Resource: Find out how much your business is worth today with this free and independent valuation tool. Not every passive income stream has to come from your business. If you've got extra cash, let it work for you. Dividend investments can generate monthly or quarterly payouts and grow over time. Smart founders invest outside their business, too. The best passive income stream is the one that fits your skills, audience, and business model. Start with the path of least resistance. What do you already do well? What can be packaged and sold without reinvention? If you're a service provider: Start with a digital product or course. If you have an audience: Try a paid newsletter or affiliate model. If you have physical space or gear: Rent it out. If you teach: License your framework or build a membership. Focus on solving one specific problem, then build the simplest version of that solution into a sellable asset. And remember: the first passive revenue stream is the hardest. The next one is easier. And eventually, your income portfolio becomes a business in itself. Here's the truth: you don't need five income streams to hit your goals. You need one that works. Start with a single, owner-independent stream. Build it. Test it. Automate it. Once it's running with minimal effort, stack the next one. This is what I call freedom stacking: layering scalable, low-touch revenue streams that increase both your income and your business value. Because here's the exit-aware insight most business owners miss: Passive revenue isn't just a lifestyle move. It's a way to multiply the value of your business. Business buyers pay more for businesses that don't rely on the owner. They want recurring revenue, automation, and systems. When you build streams of passive income that run without you, you're not just freeing your time, you're multiplying your potential exit value. So yes, passive income gives you options. But it also makes your business more attractive, more resilient, and more sellable. Find out here how sellable your business is with this free exit-readiness assessment. You don't need to burn out to make more money. You don't need to trade every hour for income. And you definitely don't need to wait until 'someday' to build something that earns money while you live your life. The truth? You already have what you need to start. Tools. Knowledge. Systems. Experience. Right now, those things are sitting in your business, waiting to be turned into something that pays you, without needing you. Start small. Package one asset. Set up one system. Test one offer. And then build from there. Because every passive revenue stream you create today doesn't just buy back your time. It builds the freedom and value you'll cash in on tomorrow.
CTV News
20-05-2025
- Business
- CTV News
First at Five: Ready to Strike
Atlantic Watch Small businesses worry about the big impact another Canada Post strike could have on the bottom line.
Forbes
07-05-2025
- Business
- Forbes
Democrats Warn Tariffs Could Break Small Businesses
Tariffs give Democrats a new opening with small business voters (Photo by) Getty Images A new report from Democratic members of Congress says the Trump administration's tariffs are already wreaking havoc on small businesses in just the five weeks since the President's so-called 'Liberation Day' announcement. The paper, titled Price Hikes and Layoffs: The Impact of Tariffs and Tariffs Uncertainty on Small Businesses was released on May 5 by the Democratic minority members of the Joint Economic Committee (JEC). The JEC is a bipartisan Congressional group that studies economic issues, analyzes data, and advises on policies to improve the economy. It's made up of members from both the House and Senate and focuses on subjects like jobs, growth, and fiscal policy. Democratic members include senators Maggie Hassan (ranking member) Martin Heinrich, Amy Klobuchar, and Mark Kelly, along with representatives Don Beyer, Gwen Moore, Sean Casten, and Dave Min. Findings from the paper, backed up by accounts from small business owners around the country, show that costs are rising, hiring is slowing, and some firms have already begun laying off workers. Employment at businesses with fewer than 10 workers has dropped 3 percent, or by about 366,000 jobs, since the start of President Trump's second term, the report says. About 30 percent of small business owners said in March that they plan to raise prices, the highest share in a year. Confidence is also slipping. The share of small business owners expecting better conditions fell from 37 percent to 21 percent in March, the largest monthly drop since 2020. Industries like manufacturing, construction, trucking, and restaurants are being hit hardest. These sectors are mostly made up of small firms that rely on imported goods, which makes them more exposed to tariffs. About 98 percent of U.S. manufacturing firms and 99 percent of residential builders are small businesses. Builders estimate tariffs have added $10,900 to the cost of a new home. In trucking, nearly one million people work at small transportation businesses. At the port of Los Angeles, scheduled vessel arrivals in early May were down more than 35 percent from the same time last year. Less freight means fewer jobs for truckers. A florist in New Hampshire says tariffs will add between $55,000 and $80,000 to her annual costs, enough to prevent raises, hiring, and equipment upgrades. A Maryland construction company says steel and aluminum tariffs have raised homebuilding costs by $20,000. A Colorado outdoor guide lost clients because of economic uncertainty. A California ice cream shop says higher prices on small items like sprinkles could erase their profit margins. A Utah accessory company couldn't quote a price to a retailer due to tariff uncertainty. Others say they may have to shut down or shift production overseas. This report comes from Democrats who oppose Trump's trade policies. But it lines up with the broader mood. Small business optimism fell in March, according to a monthly survey from the National Federation of Independent Business. The National Retail Federation, which represents retailers of all sizes, found in its own survey that most voters believe tariffs raise prices and hurt small businesses. More From Forbes Forbes 10 Shark Tank Companies Caught On The Front Lines Of Trump's Trade War By Brandon Kochkodin Forbes SBA Loan Limit May Double To $10 Million, But Not For Every Small Business By Brandon Kochkodin Forbes Why An MBA Is A Mistake For Most Small Biz Owners By Brandon Kochkodin Forbes Pay Transparency Catching On Fast With Small Business Owners By Brandon Kochkodin
