Serial entrepreneur Rahul Kaul’s priceless tips on how to generate passive income

The new era belongs to the entrepreneurs. In simple words, we can say this is an entrepreneurial era where individuals are leaving behind their 9 to 5 jobs to start a venture of their own. With the digital medium flourishing to a new high, many young minds have implemented the action of minting more money with freedom and flexibility. Opting the route of entrepreneurship, Dubai-based Rahul Kaul has built his reputation as one of the smartest names in the business world. From an early age, Rahul wanted to be a boss of his own.

To bring the dream into reality, he generated various income streams without compromising on sleep and sanity. With a clear picture and a positive mindset, the entrepreneur established an array of businesses. One of his celebrated companies Dejavu Entertainment and Events has been a game-changer in the UAE’s nightlife and events scenario. Rahul’s other successful business venture is Dejavu Tours & Travels, an online travel portal that offers various services like air tickets, hotel bookings, holiday packages, visa services, travel insurance, forex trading, passport assistance and car rental services.

The entrepreneur’s main motive behind incorporating an ocean of ventures was because he was hooked to the concept of passive income. It has already become a big thing in many ways which has given the entrepreneurs financial independence from the mainstream rat race.

What is Passive Income?

In layman’s terms, passive income is a source of income that is recurring even after you have completed your work. The main idea of generating a passive income is that you do not have to continuously work to earn money, rather you can make good money even without putting in the hours of work.

Rahul Kaul since the onset of his career was inclined to the idea of passive income so he could chase his other dreams. In the time of the COVID-19 crisis when the travel and events industry took a backseat, the entrepreneur kept the momentum going by establishing IMDDXB Influencer Agency, an influencer marketing company that connects brands and influencers from different walks of life. The businessman’s other smart investment during lockdown was into yachts after he acquired a yacht company. The Dejavu Yacht has got 3 yachts under its belt that majorly deals in yacht rentals across the UAE.

With the downward trend of COVID-19 cases, Rahul Kaul’s event and entertainment businesses are running in full swing. When asked about managing these businesses simultaneously, he revealed that business magnate Warren Buffet has been an inspiring force in his life. One of the profound quotes by Mr. Buffet says, “If you don't find a way to make money while you sleep, you will work until you die.” These words of wisdom have kept Rahul Kaul sane throughout his journey.

Furthermore, Rahul Kaul threw light on the best ideas on how to generate passive income. Below are some of the safest and most popular sources of generating passive income as suggested by the entrepreneur:

1) Stock Market Investment - Stocks have played a significant role in making an individual rich. If you know where to invest your money, the stock market can become a regular source of income for you. Buying and holding company stocks for a long time can also help in generating dividends regularly.

2) Real Estate - It is by far the traditional and most common method of earning a passive income from time to time. Buying a property and renting it out makes another mode of income flowing in for the long run. As per the studies and reports, property value has always grown significantly depending on the rise of the market.

3) YouTube videos - Creating YouTube videos is the most popular and modern approach to generating passive income. It just keeps on raking in the moolah from sponsored videos to ad revenue, one can make recurring income from YouTube once the channel gets monetized. To have a successful YouTube channel, all it requires is the creation of content consistently. If you stick with it, expect fruitful passive income rewards in the long run.

To sum it up, Rahul Kaul concluded by stating that passive income can help in elevating your earnings by leaps and bounds. If it is executed rightly, passive income streams can yield the best luxuries of life.

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