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Would you love to create a life? Or do you want to let life happen to you?
The individuals who create life are the ones who have a passive form of income; in other words, they are not tied to the chair or living paycheck to paycheck to earn money, which is raw truth and incredibly insane. Instead, they travel wherever they want to and do whatever they love. The remarkable thing is that they make money while they sleep. This type of business model is defined as a passive income.
The benefit of passive income is that it doesn’t cause financial deterioration even though you are not actively grinding.
The same business model can be applied to dentistry. This model will serve you a lifestyle and protect you from actively grinding and working hard without living the extraordinary lifestyle you deserve.
In this episode, Naren and Jordon, Discuss how you can build a robust business model in the Dental Industry that will accredit your bank without you actively grinding.
To make it easier, they categorize it into eight ways detailing how passive income could be generated with real-world examples.
The resources for this episode are:
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Timestamps
- 00:01:50 – what is passive income?
- 00:04:33 – Why is passive income important?
- 00:10:38 – Commercial real estate
- 00:12:21 – Membership plans
- 00:13:52 – Hiring associates
- 00:15:10 – Investing in other dental business
- 00:17:26 – Leveraging your practice
- 00:19:05 – Reinvesting in your practice
Resources
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Category: Dental Growth Domination Podcast
