#119: 21+ Ideas for Starting a Passive Income Business in 2023

We think starting a side business is a great way to achieve financial independence and an ideal opportunity to try your hand at entrepreneurship because you can do it while working your day job. But growing a profitable business in 2023 and beyond can take a lot of time and energy.

If you’re ready to start a business but worry you may not have the bandwidth, we have a solution worth considering. In this episode, co-hosts Lori Vajda and Nola Boea cover the what, how, and why a passive income business model might just be the best way to start your entrepreneurial journey, plus we've got over 21 business ideas for you to consider.

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In This Episode You’ll Learn

• What a passive side business is AND why you should start one.
• Why making money is a lot easier when you’re starting with a profitable side business model.
• How technology has improved and is making it so much easier to BYOB (Be your own boss).

Key points Lori and Nola are sharing in this episode:

(02:39:27) The difference between a traditional side business and a passive income business comes into play
(04:56:90) Starting a passive income business using products you already own or have access to but aren't using
(10:09:04) Get paid for doing something you love, something you're interested in, or something you are passionate about. Here are three ideas for a passive side business that don’t require you to launch on Etsy.
(11:32:62) Ten innovative ideas for downloadable or digital products that you can produce and market
(14:47:01) Consider creating and selling evergreen online courses. It’s so much easier today, and these little known platforms might be your best bet

Resources 

Sniffspot - https://www.sniffspot.com/
Neighbor - https://www.neighbor.com/
Swimly - https://swimply.com/
Turo - https://turo.com/
Wrapify - https://wrapify.com/
StickerRide - https://stickerride.com/
Carvertise - https://carvertise.com/
Sparetoolz - https://sparetoolz.com/
Skillshare - https://www.skillshare.com/en/teach
OnZoom - https://on.zoom.us/
Spinlister - https://www.spinlister.com/
Udemy.- https://www.udemy.com/
Coursera - https://www.coursera.org/​
Teachable - https://teachable.com/​
Thinkific - https://thinkific.com/​