That might work, yes. I like the term much better than passive.
If you need to [edit regularly] respond to SEO changes, or payment provider issues, or maintain your relationships somehow it just isn't passive. It's not a lot of work, hopefully, but it is not passive. You need to stay engaged enough to know how to do it.
Reacting to the environment changes and modeling absolutely is not passive, and I wish people would stop calling it that. I also suspect people underestimate the amount of time they actually spend on this stuff.
If you need to respond to SEO changes, or payment provider issues, or maintain your relationships somehow it just isn't passive.
I'm not sure that's a terribly useful definition. Since any business must have some means of accepting revenues, and almost any means of accepting revenues is subject to dispute, by your argument there is probably no business in the world with a truly passive income. Likewise, in many places you are at minimum going to have to file some sort of annual statements and tax returns for any commercial business.
If a business is generating revenues that don't require anyone to do routine/regular work to keep the money coming in, it seems reasonable to call it passive, even if someone needs to step in under rare or exceptional circumstances.
Ok, I should have added "regularly" respond, that would have been clearer.
What I'm getting at is: If I adjust SEO targets, mailing lists, app or interface code say monthly to keep things moving along, it really isn't passive.
I'm not thinking about annual taxes, or one time problems (DNS issues, certs, payment provider changed) etc.
But routine, regular work absolutely includes any regular updates to website code, transaction providers (add/remove vendors etc.), SEO techniques, etc. If you are tweaking the business weekly/or monthly it is just silly to call it passive.
If you need to [edit regularly] respond to SEO changes, or payment provider issues, or maintain your relationships somehow it just isn't passive. It's not a lot of work, hopefully, but it is not passive. You need to stay engaged enough to know how to do it.
Reacting to the environment changes and modeling absolutely is not passive, and I wish people would stop calling it that. I also suspect people underestimate the amount of time they actually spend on this stuff.