Picture this: you have a source of income coming in that you don't have to toil extensively for. Passive income books are a great way to get you started down this path.
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Top 13 Passive Income Books
Are you seeking another source of income that won't require you to work for hours? The concept of passive income makes it possible to earn money even when you aren't present constantly. It means you create the income source and can do other things as your money comes in.
For most people, this sounds fascinating but don't know where to start. Luckily, I've compiled this list of some of the best passive income books to guide you to success.
Whether you are a student or a full-time career person at a corporate giant, you can always explore different avenues to generate passive income. This article lists the 13 best passive income books to read this month.
The Best Passive Income Books Out There!
Below are several passive income books that will make building wealth and attaining financial freedom quite achievable. And, whether it’s for you or just want to learn how to support your friend’s small business, these ones won’t disappoint.
The 4-Hour Workweek
If you find yourself stuck in the daily grind of nine to five only to enjoy your life after 60 years, it's high time to read The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss.
As one of the best passive income books, The 4-Hour Worksheet revolutionizes the concept of standard 45 working hours per week by introducing an entirely new model of working. The idea is to start enjoying your after-retirement plan by working for just four hours a week.
The author shares his tips on increasing productivity by effectively handling your daily meetings and emails. Moreover, he negates the existing ideology of working insanely to create recurring passive income streams that don't require much effort.
To emphasize the point, Ferris shared the story of his own company, QuickBrain. He tweaked certain things to create a monthly passive revenue of $40,000.
Besides, Ferris talks about the Pareto Principle, learned in Lean or Six Sigma training. The 80-20 principle states that 80 per cent of the revenue is created by 20 per cent of the most profitable clients. Consequently, one can focus on that 20 per cent and automate the entire business model.
For your reference, the following are some key takeaways:
- Define – Always define your goals in tangible form. Just ask yourself what you want and write it down on paper.
- Eliminate – If you want to use your time more effectively, eliminate distractions, and focus on the 20 per cent without interruptions.
- Automate – Try to think of a passive income stream that can run on autopilot. Or you can simply hire a virtual assistant if your business needs one.
- Liberate – Don't overburden yourself with expectations. Take it easy and have mini-retirements or work from home.
The $100 Start-up
The $100 Start-up: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future by Chris Guillebeau is a passive income book about drop shipping. This practical guide is all about launching a business from scratch.
It includes real-world examples of ordinary individuals who managed to build extraordinary businesses with just a hundred dollars in their pockets.
Additionally, the examples quoted in the book are financially viable, with turnover ranging between modest and excessive. Just so you know that the majority of the mentioned start-ups belong to a median range of income, leading to growth and, most importantly, satisfaction.
It's a handbook for all the aspiring entrepreneurs who want to learn about the necessary steps and strategies to expand their businesses bit by bit. The best thing about this book is its simplicity in explaining business strategies without using complicated business jargon.
Most of you must be tired of reading about those massive business empires that can achieve either of the two extremes – expanding or crumbling.
No, you don't want to learn about such examples. Right? You no longer wish to hear about innovative start-ups developed in the heart of Silicon Valley or MIT incubator.
You want to learn about the success stories of online yoga classes, clothes stores, bookkeeping sites, and handmade toy outlets. This is precisely what this book aims for. It shares the stories of passive income businesses to which one can relate.
Virtual Freedom
The name says it all for this passive income book, Virtual Freedom: How to Work with Virtual Staff to Buy More Time, Become More Productive, and Build Your Dream Business. Chris Ducker writes this one.
Whether you own a small online blogging website or online store, the biggest hurdle you face is staffing and outsourcing. This book steps into the game with an inventive methodology to work with virtual staff.
Not only that, but it also helps you in building your dream business by being more productive without wasting time on continuous closed-loop follow-ups.
This book teaches you a simple lesson. You need to remind yourself every day you wake up that you are not a superman.
Yes, that's it. You just can't be a jack and expect yourself to do all the work from SEO to website management.
You need to outsource your work if you sincerely want to increase your passive income. So, the best way is to get rid of all the time and energy-consuming tasks.
Don't worry; the book also highlights common areas that you can outsource right away:
- Web developer
- Graphic designing
- Internet/Social Marketing
- Video editing
- Copywriting
- Virtual assistance
Furthermore, the author elaborates on all these roles and their respective business tactics.
The book includes two detailed sections on pay scales to give you in-depth insights into why the prices change every passing year. For example, you pay around $150 to $200 per hour to a top-class digital marketing agency while $100 to $125 to a local agency.
In the end, it narrates that you'll surely see a return on your investment, even if it's just a dollar.
The E-Myth Revisited
If you are a passionate entrepreneur, the E-Myth Revisited: Why Most Small Business Don't Work and What to Do About it by Michael E. Gerber is one of the best passive income books to read.
The author starts this book by breaking one of the misconceptions about passive income. He says that most people begin passive income streams to gain freedom and empowerment; instead, they end up being slaves of their businesses. And that's a harsh reality.
You can learn to build and run a business independently to have your freedom in the real sense. The author shares the following three golden rules to modify your existing business model:
- Think about systems with replicable results similar to a franchise. In this way, your business runs like a machine to replicate optimum results with maximum productivity.
- Work on your life mission to make your business a part of your life and not vice versa.
- Lastly, always work ON the business instead of working IN the business. Meaning hiring a task force and outsourcing, just as mentioned in the book reviewed above.
It allows you to understand the current life cycle of the business. You always start your business with the concept of not having a boss. However, in return, your business becomes your boss and starts governing your life.
Moreover, it gives you a basic understanding of the difference between technician, manager, and entrepreneur. It means that people usually start their business as technicians because they know how to do it.
The next step is hiring a team and moving towards the manager phase. However, you shouldn't commit the common mistake of doing the work yourself instead of delegating.
The final phase is to go beyond the comfort zone towards maturity, just like IBM. Yes, IBM's mantra has always been to build a business, not do a business.
Job Escape Plan
The Job Escape Plan by Jyotsna Ramachandran is about the seven steps to building a home business to enjoy your freedom after quitting your day job.
This is one of those passive income books that include interviews of John Lee, Dumas, Nick Loper, Rob Cubbon, Steve Scott, Stefan Pylarinos, and many more.
It allows you to put your fears aside and leave your comfort zone to embark on your entrepreneurial journey. Additionally, this book serves a multi-purpose role for all the people looking for motivation to explore passive income avenues.
So that you know, the author is an experienced entrepreneur who after leaving the standard workforce she started her dream business. That's why she takes the readers through her step by step experience to motivate them. Of course, what better way to seek inspiration than through the author's real-life experience.
Not only that, but this book also includes the interviews and stories of successful digital entrepreneurs. These businesses include blogging, online courses, mobile applications, and many more.
It doesn't matter if the business releases to you, but you can gain insight into the process, especially the co-founders' mindsets. Additionally, you can watch the interview videos available on the author's website.
Next, it includes all the resources for you to chalk out their escape plan. This book allows you to develop an entrepreneurial mindset to increase your passive income streams.
The Side Hustle Path
As the name depicts, The Side Hustle Path by Nick Loper explains ten proven ways to make money outside of your day job.
Yes, we all want to earn some extra cash to increase our living standards. Some people like to pay off their loans, while some want to enhance their savings. No matter who you're, you may need extra passive income streams to fulfil the desired goal.
They say time is money, but there are only 24 hours a day. So, if you need to know how to maximize income by not disturbing the work-life balance, you can find out by reading the side hustle path.
The author, Nick Loper, started his entrepreneurial journey at a very early age by selling candies to his fellow boy scouts at a summer camp. Later on, at the University of Washington, he painted houses in college.
After college, he got a job, but it wasn't fulfilling. That's when he started to work on building websites, learning online advertising channels, and running marketing campaigns for other companies.
The main idea of this book is to explore low-risk ways to make more money. Moreover, this book isn't for the people who want to get rich with some get-rich-overnight formula. Instead, it focuses on the time constraint and the starting point.
You can find a plethora of online courses about making money online. However, beginners often find themselves confused about a scam or a legit path.
It's one of those passive income books that discuss real-world examples of ordinary people with a passive or a side hustle income in addition to standard employment.
Some people continue with part-time ventures, while others turn them into full-time businesses to attain the ultimate freedom. At the end of the day, the choice is yours to make.
In a nutshell, this book focuses on building:
- Skills
- Financial Security
- Income
- Freedom
Turn Your Computer Into a Money Machine
Isn't it what we all want? Written by Avery Breyer, Turn Your Computer Into a Money Machine guides you in the process of making money from your home with zero prior experience. Not only that, it guarantees a complete setup within just a week.
Avery Breyer is a best-selling author of the Smart Money Blueprint Series. Moreover, she is also a member of the Top of the Million Dollar Round Table.
After reading this book, you can make $60 per hour from home in your spare time. All you need is a computer and a good-quality Internet connection. You don't need to have any experience, you can learn from multiple online courses.
This book guides you to write books, build websites, and become a blogger. Moreover, it aspires you to start a multi-level marketing business, fill out online surveys, and sell products on eBay.
The author claims that you can set up the entire system in just one week and start making money with little to no start-up costs.
The book reform your personality to make you more productive. Once you save your time, you can utilize it to earn more money without requiring any regular job.
You can enjoy the flexibility to work from anywhere in the world. It's up to you if you want to earn passive income while sitting on a couch or in a coffee shop.
StrengthsFinder 2.0
StrengthsFinder 2.0 by Tom Rath will help you identify and unleash your hidden potential and strengths. Tom breaks the stereotype by focusing on fixing their weaknesses while ignoring their strengths.
we can summarize the book in four actionable tips:
- Focus on areas where you have the most potential.
- Stop wasting much of your time addressing your weaknesses.
- Make your life simple by hiring expert people for tasks you can't perform.
- Work on your strengths, and don't take them for granted. Always keep in mind that talent becomes strength only after hard work.
Tom Rath is an acclaimed American researcher on employee wellbeing and productivity. He has identified 34 critical strengths of people in the book.
You often find yourself surrounded by self-development books preaching to you that you can achieve anything you want. No, it's simply not true – instead, your potential and talent matter.
What if you have the writing potential but want to become number one in real estate? This is why it's better to maximize your potential by working on your skills.
Suppose you are a tech start-up CEO but are terrified of public speaking. You should know how to address the public or pitch your idea but don't spend years just trying to get better at public speaking.
However, don't confuse talent with strength. No one is born an expert. So, you need to work on your skill to convert it into your strength for a longer run.
The Six-Figure Second Income
Your ultimate wish has been granted. Written by David Lindahl, The Six-Figure Second Income offers you to start and grow a successful online business without quitting your day job.
It's one of the most straightforward passive income books that paint a bigger picture of how to make money on the Web.
This world belongs to Infopreneurs, who focus on selling information products to empower people. That's why the author shares proven practices to create and sell information products on the Internet.
Moreover, this book is simple yet fun because of its step-by-step methodology to help turn your ideas into actionable items.
By the way, this book also warns about common traps. One such trap is that you can't research thoroughly without researching similar products. In addition to that, you also need to bring variations on a proven theme to attract existing customers.
The book encourages you to explore avenues with a narrow audience. It doesn't matter if you attract fewer audiences because you'll attract them more strongly.
One of the greatest lessons this book teaches is the accurate measure of a lead-generation technique. To your surprise, it isn't the cost per lead, but actually, it's the return on investment (ROI).
The book's central theme is to make a product one time and sell it in the coming years. It also includes particular examples, including books, boot camps, start kits, hotline consultation, posters, seminars, special reports, membership sites, and many more.
See Related: FarmTogether Review 2021: Can You Earn Passive Income?
The Book on Rental Property Investing
Passive income is your sure way of attaining financial freedom. If you want to make money even when asleep, this best seller real estate investing book has the answers.
Through the guidance of a renowned real estate professional and investor, you now have a step-by-step guide on cracking this market. Written by Brandon Turner, The Book on Rental Property Investment is a perfect investment.
And, whether you are a new investor or an experienced one, this book has something for you. It teaches how to create an actionable plan, identify incredibly profitable deals, analyze properties, finance rentals, etc.
The book also contains tips on:
- How to avoid failing in real estate investing, as many investors have done
- Best strategies to implement for success
- Identifying the business investment opportunities
You'll have everything you need for a successful real estate investing journey. Buy the book here
Buy, Rehab, Rent, Refinance, Repeat
Buy, Rehab, Rent, Refinance, Repeat by David M. Greene shows how rental property investing can be made achievable for virtually anyone. The book includes a strategy that allows you to succeed in real estate investing, where many investors have failed.
It includes all the tips you require to create passive income through real estate investing without going through the trial and error process yourself.
This is a must-have book if you want to learn how to invest in real estate with minimal capital, identify the best properties, grow your property's value, etc. It teaches you to invest like a pro through a simplified BRRRR strategy. Buy the book here.
The information you get here, combined with reliable investment platforms like Equity Multiple, will undoubtedly shape your financial future.
See related: How to Earn Passive Income with REITs
The Guide to Passive Income
Times are changing worldwide as many people realize they can no longer rely on employment for financial stability.
Going for a 9 to 5 job doesn't work anymore as expenses increase with no good pay rise. It's why the concept of passive income has become so popular.
In this 218-page The Guide to passive income book by Andrew Lanoie, you'll learn about the 11 best assets to bring you more income. He got a chance to retire from the rat race in his 30s and wants the same for millions of people.
The book addresses the concept of passive income that brings money to your account. Buy the book here.
Rich Habits – The Daily Success Habits of Wealthy Individuals
Creating wealth isn't easy unless you have the proper foundation. And that's why you must understand how the wealthy behave with their finances.
Rich Habits by Thomas C. Corley gives you ten incredible principles that most wealthy people follow. This ageless passive income book explains just how if you want to make money, work for you. As the name suggests, the Rich Habits book is about rich people's habits and choices.
In this review, the passive income books are categorized in an order in which you can relate to the passive income lifecycle. Once you have the financial freedom and all the riches in the world, you may indulge in bad habits such as procrastination or overeating.
Actually, the author himself went down from rich to poor overnight. That's why he spent years researching rich people's behaviour and why wealth can't be categorized as derivatives of privilege or luck.
If you want to switch to good habits, you should give this passive income book a read this month.
The first section comprises short stories about rich people with bad habits and how their life collapsed because of bad management and financial practices. These habits include overeating, not showing up at work, not focusing on building relationships with existing customers, etc.
Moving on to the next section, the author presents an innovative plan known as rich habits. You can read for 30 minutes about your line of work instead of mindlessly watching local news or scrolling through the social media feed. Or you can make a healthy meal for yourself at home for $10 instead of having a burger for lunch.
The third and final section switches back to the short stories about how the first section's characters transformed their habits to become happier and more successful.
By the way, the best thing about this book is that it's just 100 pages long. So, you can have it as your daily handbook to remind yourself of productive habits.
Moreover, it identifies the bad habits we adopt over time and then moves forward to their solution. And the real-life stories add to the overall effectiveness of this book. Buy the book here.
See also: How To Make Passive Income As A Photographer
Buy Now!
Reading about the best passive income books opens new learning avenues. You increase your productivity and utilize your spare time to make more money. It's a fast-paced digital era where you can convert every passing second into cash.
After reading these books, you can create a pathway of your own by eliminating all the time-consuming tasks in your life. Now, you can invest your time and energy in side-hustles to build a business. Don't forget about delegating the tasks to the experts. It's no shame to ask for help if required.
You'll be able to focus on your strengths and polish them to convert them into irreplaceable talent.