One big idea or small assets that generate passive income ?

[s.vivek_619]

Hi Everyone

A few months ago I started a part-time business that included partnerships with the different retailers but due to the Covid19 lockdown it got affected. I am thinking to create some websites/apps that can create some passive income. What should I focus on one big idea or smaller assets that generate passive income? Any suggestions or your experiences are welcome.

Thanks

 

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[Odysseus M Jones]

Depends on you.

Would you like to be a master of one specific thing or a jack of all trades but master of none?

Would you like many suits but you're not really partial to any of them or one great suit that you really love?

Of course if you transpose women for suits most of you will answer differently.

But that's a different story.

 

[amp0193]

Hi Everyone

A few months ago I started a part-time business that included partnerships with the different retailers but due to the Covid19 lockdown it got affected. I am thinking to create some websites/apps that can create some passive income. What should I focus on one big idea or smaller assets that generate passive income? Any suggestions or your experiences are welcome.

Thanks

One big business.

The cost of splitting your attention among several smaller ventures will likely lead to mediocrity in all of them.

Maintain a singular focus over a period of years, and you can achieve something that will be orders of magnitudes higher.

 

[NMdad]

One big business.

The cost of splitting your attention among several smaller ventures will likely lead to mediocrity in all of them.

Maintain a singular focus over a period of years, and you can achieve something that will be orders of magnitudes higher.

Agreed.

A few other questions to ask yourself:

• Do you want to provide something big vs. something small? E.g., jet engines vs. hand cream? A lot of small purchases can be a large business if the market is large.
• How fast can you acquire customers?
• What niche do you already have expertise in? You might want to read HOT TOPIC - Are you ignoring the gold right in front of you?

 

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