How would you like to make $160,000 a month in passive income? That’s life for Graham Cochrane. Even more impressive, he sees 93% or higher profit margins on his income and he started his first business with just $50. That $50 was just about all Graham had when he started his first business in 2009. He’d just been laid off due to the recession, leaving him broke and struggling to support his family. That layoff turned out to be a blessing, paving the way for him to start his own business and figure out how to make passive income.Just what is passive income? It means your business makes money on its own, without you needing to devote your whole life to running it. Graham uses automation and simple, efficient systems to achieve this in his business, allowing him to work an average of five hours a week. He explains how he developed those systems in this interview, along with his other advice for how to turn your passion into a sustainable, low-maintenance business. ResourcesGrahamCochrane.com - Learn more insights from Graham on his website UpFlip blog - Tips, advice, and how-to guides for business owners and entrepreneurs How to Start Investing in Real Estate - Podcast interview with real estate expert Emma PowellKajabi - Online course, coaching, and podcast platformPodia - Platform for building websites, courses, virtual products, and online communitiesTeach:able - Online course platform to turn your knowledge into passive incomePatreon - Membership platform for creators and entrepreneursKartra - Tools to help online businesses grow Mailchimp - Email marketing and automation toolGoDaddy - Domain names and web hosting services$100M Offers - How to grow your business by making offers too good to turn downThe Go-Giver - How to grow a business by focusing on giving and adding value to others’ lives The 4-Hour Workweek - Best-selling book on how to escape the daily grind with passive incomeConnect with UpFlip On Facebook On Instagram @UpFlipOfficial on Twitter For more insights to start, build, or grow a business, check out the resources on UpFlip.com or head to the UpFlip YouTube channel to see more interviews with business owners and experts. Thanks for listening!