Freelancers can increase their monthly income and secure financial stability by establishing multiple passive income streams, making it a crucial strategy for long-term success.
Passive income is money that you don't have to actively work for; it comes in from something that already exists and continues to work for you.
Freelancers are well-positioned to create passive income streams due to their entrepreneurial experience, allowing them to be less risk-averse and more innovative.
By adopting the right approach and diversifying revenue sources, freelancers can overcome the high failure rate of startups and turn their businesses into successful ventures.
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