The new era belongs to entrepreneurs. Simply put, we can say that this is an entrepreneurial era where individuals leave behind their 9-5 jobs to start their own businesses. With digital medium flourishing at a new high, many young minds have embraced the action of hitting more money with freedom and flexibility. Taking the entrepreneurial path, Dubai-based Rahul Kaul has earned a reputation as one of the smartest names in business. From an early age, Rahul wanted to be his own boss.
To make the dream come true, he generated various sources of income without compromising sleep and mental health. With a clear image and a positive mindset, the entrepreneur has created a range of businesses. One of its famous companies, Dejavu Entertainment and Events, was a game-changer in the UAE nightlife and events scenario. Rahul’s other successful business is Dejavu Tours & Travels, an online travel portal that offers various services such as airline tickets, hotel reservations, vacation packages, visa services, travel insurance, currency exchange, passport assistance and car rental services.
The entrepreneur’s main motive behind incorporating an Ocean of Businesses was because he was hooked on the concept of passive income. It has already become a big thing in many ways, which has given entrepreneurs financial independence from the traditional rat race.
What is passive income?
Simply put, passive income is a recurring source of income even after you finish your job. The main idea of ââgenerating passive income is that you don’t have to work all the time to make money, but you can make a lot of money even without working hours.
Rahul Kaul from the start of his career was inclined to the idea of ââpassive income so that he could pursue his other dreams. In the days of the COVID-19 crisis, when the travel and events industry took a back seat, the entrepreneur kept the momentum going by creating IMDDXB Influencer Agency, an influencer marketing company that connects brands and influencers from different backgrounds. The businessman’s other smart investment during the lockdown was in yachts after he acquired a yacht company. The yacht Dejavu has 3 yachts to her credit which mainly deal in yacht charter throughout the United Arab Emirates.
With the downward trend in COVID-19 cases, Rahul Kaul’s event and entertainment business is in full swing. When asked about running these businesses simultaneously, he revealed that business mogul Warren Buffet has been an inspiring force in his life. One of Mr. Buffet’s deep quotes says, “If you can’t find a way to make money while you sleep, you will work until you die.” These words of wisdom kept Rahul Kaul sane throughout his journey.
Additionally, Rahul Kaul brought to light the best ideas on how to generate passive income. Below are some of the safest and most popular sources of passive income generation suggested by the entrepreneur:
1) Stock market investing – Stocks have played an important role in the enrichment of an individual. If you know where to invest your money, the stock market can become a regular source of income for you. Buying and holding company stock for a long time can also help generate regular dividends.
2) Real Estate – This is by far the traditional and most common method of earning passive income from time to time. Buying a property and renting it out creates another form of long-term income. According to studies and reports, property value has always increased significantly as the market rises.
3) YouTube Videos – Creating YouTube videos is the most popular and modern approach to generating passive income. It keeps saving time, from sponsored videos to ad revenue, one can generate recurring income from YouTube once the channel is monetized. To have a successful YouTube channel, you just need to create content consistently. If you stick to it, expect long-term successful passive income.
To sum up, Rahul Kaul concluded by stating that passive income can help increase your income by leaps and bounds. If executed correctly, passive income streams can produce the best luxury in life.
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