We all want to earn mega bucks right? And preferably while we sleep, holiday or otherwise enjoy the free time our business provides us! This is passive income production at its finest.
Come with me as we explore how to make a passive income on the internet.
Just so we are on the same page and you haven’t come to this blog with other ideas lets explore what passive income actually is.
Wikipedia’s definition is: Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.
Minimal to No Effort!
I know these are the first few words that sing in my ears, but note the last few words also “to maintain it”.
So the passive income we all yearn for, the cash flow we will get on a nice regular basis with minimal to no effort on our part, must first be set up and grown BEFORE we can expect it to provide for us with little maintenance.
I believe this is the biggest stumbling block for those would be entrepreneurs amongst us. In our fast paced world we all want and expect quick gratification for our efforts.
I’m hearing you. No one wants to have to work any harder than necessary BUT ….
What if you could work for 1 – 2 years on your business now and then with minimal ongoing work on your behalf have it pay you handsomely for the rest of life?
Wouldn’t those few years of dedication and commitment be worth it?
What if it took you 5 years – would it still be worth it?
Or will you spend the next 1 – 5 years doing what you’ve always done, get what you've always got and still be in the same position as you are now!
Will you spend the next few years working for someone else, making them money, but never doing anything to move yourself towards generating a passive income?
How many years have you work for someone else up to now?
What if you had started your passive income generating business a year ago? 5 years ago? Where would you be now? What would you be doing?
I’m ready to start but how?
OK if you do not want to be doing the same thing in 5 years time that you are doing today how do you make the change to generating passive income ?
I have two words for you - Affiliate Marketing.
I strongly believe the other internet offers are not as good as affiliate marketing for a long term business, but if you are curious lets have a look at two popular options.
Filling in surveys or questionnaires is not passive income – if you don’t work then you don’t get paid.
Possibly worse than that they pay very poorly and can disappear at anytime – it’s not your own business so if they choose to stop or are shut down then there goes your income.
Generally multi-level marketing means a commitment of your finances upfront. You almost always need to buy either a product or a service to participate.
That’s just the way it works. Let me explain:
- .You buy a very expensive product/service/course, lets say it's a personal development course off your up-line person – they get paid.
- Then you sell the PD course to someone else plus the ability for them to also sell the product. You make money. They become a part of your down-line.
- When your down-line person sells the PD course you get a percentage of that sale also.
- As your down-line builds (like a pyramid) you have more people under you all selling the product and that is when your passive income starts.
But what happens if you can’t recruit many people? You have limited your capacity to earn.
What if your down-line don’t sell much? You have no control of how much passive income you may earn, in fact you may not earn any income at all.
Through natural attrition your down-line will drop off so you need to keep recruiting - nothing passive about that!
Invariably the multi-level marketing products and services are expensive, this further limits just who you can sell to and therefore who you can add to your down-line.
OK I could go on but these two seemingly popular methods of making money online can work, up to a point, but they are not truly passive income.
So back to Affiliate Marketing and why I recommend it
Affiliate Marketing is very simple, but what I love about it the most is that it does not rely on anyone else but yourself to make it successful.
Here’s how it works:
- Choose a niche – What are you interested in? Or what are you knowledgeable about? Who are the people will you be blogging too? These people are your niche.
- Choose the products and/or services you will market. What will help your niche? What do they need to fix their problems?
- Build a website, start blogging and recommending your chosen products/services to your niche.
- When your visitors buy through your site you make a commission.
This builds up the authority of your website and contributes to building trust and a following amongst your viewers.
For each niche there is a certain number of required blogs you will need, to reach the tipping point, to start seeing the traffic you need to make a suitable income.
This tipping point of blogs is different for every website, it depends on many factors including website management, the niche and the products/services you choose.
This is the one area I can’t advise you on. Each entrepreneur and website is an individual and only you can determine how much work, how quickly and how successful your business will be.
But remember that once you’ve written a blog for your site it is available on the internet forever. As part of your maintenance you may decide to refresh or rework some of your blogs but you will never need to completely re-write them.
I’ll give you a bit of an analogy. Consider the creation of the Mona Lisa.
It is documented that Leonardo Da Vinci commenced the painting with a basic black and white sketch, then over years he worked on it added colour and shading, layering the oils as he created the physical form of the image in his mind.
Even when it was hung for the first time Da Vinci probably still felt that it wasn’t finished and there was more he could have done.
Since then even the Mona Lisa has required some maintenance including cleaning, revarnishing and touching up to keep the masterpiece in pristine condition.
You are creating a masterpiece website, one that will pay you handsomely for years to come.
How much time and dedication will you be willing to dedicate to complete and then maintain your masterpiece?
Some blog posts will be more successful than others, some may be seasonal and some may do better depending on what’s happening in the online world at any given time. You can broaden your chances of success by adding more blogs to your site initially.
Once you have a suitable amount of blogs on your site and traffic and sales are at the level you are happy with you move into maintenance mode. This is when you are truly receiving passive income.
At this stage your maintenance might involve writing a blog or two on a regular basis, generally when the mood takes you or a new products or exciting development happens within your niche.
Otherwise your site simply ticks along making sales without you 24 hours a day, 7 days a week. That’s true passive income.
You do not need to be online everyday, you do not need to buy, store or post products, you do not need to deal with returns or handle any payments.
All you need to do it blog about a subject you are interested in. Not hard is it?
Are you ready to start your masterpiece?
Now is the perfect time to start and I would love to help you.
The platform I recommend is a one stop shop to build you internet business. They have been around for over 13 years and it is one of the most trusted and respected companies in the online marketing space.
Over 1.3 million members can’t be wrong.
They will teach you step by step how to build your masterpiece in an ethical, sustainable and profitable way.
As an added bonus I am also offering to personally mentor you, not only while you start and build you business but, for as long as you would like me too. I have extensive experience and currently run 2 profitable websites using their program.
Their system and training is proven, anyone can succeed in any niche. My goal is to help 2000 people by the end of 2020 become Super-Affiliates, helping them to leave the rat race and make themselves a full-time income online.
I’d love for you to be one of them.
If you would like more information on affiliate marketing as well as how to join with me then check out my Guide in the link below and we can build your masterpiece together.
If you have any questions on how to make a passive income on the internet drop them in the comment box below and I will help you out.
If you are more of a visual person check out the video below from two of my mentors Doug Cunnington and Dom Wells who give you the run down on how it works and how to be successful.