Passive income idea of the week — here’s a great idea for generating passive income (money that comes through the door without requiring you to lift a finger).
If you often find yourself recommending services to your clients and colleagues, check into referral fees. For example, marketing consultants often recommend copywriters, graphic designers, web developers and printers. And real estate agents often recommend everyone from home inspectors to painters. Find out if you can capture a small share of revenue — between 5 and 15 percent — for successful referrals. You’ll make money for something you’re doing anyway.