Passive revenue is loosely defined as income that you earn inside of your business that you aren't trading time for money for. This means that you can generate the revenue while you sleep, while you are on vacation or while you are working on other income generating projects.
However, the big myth that I need to dispel is that passive revenue does NOT mean that it is income you don't have to work for. The difference between passive revenue and regular revenue is that you only need to setup a passive revenue stream once and you can benefit from it for a long time to come. Usually, passive revenue streams are also streams in which you can earn on-going, recurring revenue.
This section will teach you everything you need to know about why this is valuable for your business before you start down the creation process. These to-dos can be checked off once you've read about each of the important areas around passive revenue.