Passive Income With Lifestyle Businesses

March 21st, 2008 | stacey | Passive Income, Passive Income Online, Passive Income Opportunity

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The latest buzz word is earning passive income with lifestyle businesses, but what exactly are they? Lifestyle businesses are enterprises without people that consist of a solo entrepreneur making it happen. Most lifestyle businesses have been born during the maturation of the Internet with all the opportunities for outsourcing and online networking.

Operations are often kept going by users and customers within the online communities so employees are not necessary. The visionary running the business can earn major revenues from passive income enterprises with one owner. These single-handed companies think big when it comes to earnings and small when it comes to organizational entities.

According to Paul Kedrosky, a senior fellow at Kauffman Foundation who write about people-less businesses, “ We’re seeing them everywhere — they almost don’t feel like businesses, because there’s no there there — these are people working from anywhere and in any time zone, and who are grossing from $250,000 up to $5 million or $6 million. Generally, these are people for whom the interesting part is the delivery of the product or service, not the management of other people.”

Recently InformationWeek profiled such one-person companies earning over 1 million dollars annually in revenues. The common ground they shared was using the Web for all purposes, having high speed Internet and other mobile application and depending on a large base or community of users for essential operations.

If you want to earn passive income from home, consider starting your own one personal business – after all, you never know how much it could be worth!