Today we’ll be covering what passive income is all about.
I’ll tell why it’s important, what it is (there are different types), and how to get started. If you’re tired of your 9 to 5 job, it would be wise to start exploring the different passive income opportunities available. The truth is, anyone can do it, you just have to take action, and stay committed.
It’s no use to keep working like a dog, or just seeking active income type solutions. Active income is trading your time for money. For example, mowing someone’s lawn for $20. You spend about an hour doing so in exchange for the $20. My uncle Tony, actually makes a living this way. He has a loyal clientele base and earns around a couple of grand a month. The problem with this is what happens if Uncle Tony stops?
You guessed it right. The checks will stop rolling in. You will want to secure something for yourself and/or for your family that if something happens to you such as a hospitalization, or an urgent need to travel, a passive income opportunity will continue to pay you. With passive income, basically what you’re doing is putting in the work up front and then earning from it for years to come.
An online business opportunity is my type of solution.
However, I’ll give you some examples of different types of passive income. You all have heard of network marketing, or mlm (multi level marketing) right? Well this is a good example of a passive income opportunity.
Selling products may seem like active income but not if they’re consumable products. If customers need to purchase cleaning, household, personal, or nutritional products on a regular basis, this turns into passive income because you’ll probably have that customer on Autoship, and they may be a customer for years to come.
This is not all, the real money comes from recruiting others. Any opportunity venturing out with an mlm, if you plan on just selling and not recruiting, it will be very short lived. You’ll need to recruit and build and manage a team because you’ll earn commissions on their sales and bonuses from them as well. Not to mention, while you’re doing your own thing, you’re earning money off of the work of others, “passive income”.
Many people are making a living working with an mlm opportunity.
Personally, I choose not to do so. Don’t get me wrong you can make money with this type of opportunity. However, it requires a lot of direct selling and recruiting, and I hate to do those things. I would rather be broke, sit at home on my couch and watch tv all day, with my wife yelling at me.
I’ve chosen the online business approach. I’ll tell you why this could be seriously beneficial for you. Working on an online business, if done properly, will surely lead you to financial and time freedom. The beauty about an online business as well is it’s mobile. Anywhere you have your laptop and an internet connection, you can plug into your business.
The online business passive income opportunity is a little different.
Though you can make money online from various of different things, my concentration of expertise is in blogging, and affiliate marketing. In a nutshell, you earn money online from targeting keyword phrases, creating content, and optimizing your website for seo (search engine optimization). This will get you the traffic you need to generate revenue online.
The beauty of keywords, is once you’re making money off of one keyword, you will make money from it for the life of that keyword. Grasp your mind around this, you can have 100s thousands of visitors visiting your website on a monthly basis. Plenty of opportunities to make money! Did you know that there are currently over 3.5 billion people online today, and over $1 trillion dollars being spent online? Not to mention there is a bright outlook for the future of this business.
How to Get Started With Passive Income Online?
First you will need a website. A couple of other things you need are hosting, and a domain name. These things usually go for cheap, but I’ve found a place where you can get everything in one place. Plus the training!
I would not set out on this feat alone. I would encourage you to seek help and support for this type of business. I dreamed about this business for years and was not able to take action. Not because I didn’t want to, but I didn’t know how. Then one day I found a website called Wealthy Affiliate. This place has all the tools, training, and support you need to succeed in this business.
If you did want to go at this alone.
You could certainly start a website at wordpress.org, seek hosting for a few dollars from a place like bluehost.com, and get a domain name from namecheap or godaddy. You will also need a keyword tool. The reality is, you’re nothing online without a keyword tool. It’s like a hammer for a carpenter. Not to mention, you’ll need a good keyword tool that not only gives you the searches/traffic for a keyword, but the competition as well.
Also, the training that you’ll have to seek online will take you an unimaginable amount of hours to really get your website cutout for the business. Forgive me, but I don’t want to waste my time or yours by giving you the step by step process in doing it this way. As I mentioned before, you can get all of this under one roof at WA. They have a free membership to get started, so there are no excuses.
I’ve laid out the plan for you for passive income.
I hope that you would take advantage of it. As you know, time waits for no one, so don’t procrastinate. You might be like me, and I wasted so many years seeking financial and time freedom from a 9 to 5 job, or a traditional business. The truth is, you need passive income, you deserve it!
Learn more about Wealthy Affiliate here.
Any questions are welcomed. I’ll be your friend in the internet business.