Would you like to learn how to earn a passive income? More particularly doing it online from the very comfort of your home? Maybe you are in a catch 22 situation and wonder if this is the right avenue to take.
Well I can help you with that. Taking a step into the unknown is especially uneasy and difficult at first. If however, you have spoken to someone who has already taken that path and can teach you the ropes, would it make it any easier?
Most defintely, it would be comforting and reassuring. So allow me to take to you through the process of what it involves to earn a passive income online.
What is Passive Income?
Before we go any further, let us first take a quick look at the two major types of income.
2.RESIDUAL OR PASSIVE INCOME
An example of an earned income, is A Job
Basically, this type of income comes from offering a service or activity and involves you to be directly involved in this activity in exchange for an agreed amount of revenue.
e.g. I am a pharmacist. Unfortunately, I do not own my own pharmacy. I work for a big retail chain. I offer my services in exchange for a salary. This is earned income.
Even, if I did own my pharmacy and was working everyday physically in the store from 9-5(well later, because pharmacy hours are sooooo long!!!), it would still be earned income.
The thing is that with this type of income, is that Money stops coming in once I stop working.So stop working, then you will stop earning.
AS SIMPLE AS THAT!!!
The other thing with this type of income is that you negotiate a set wage or salary for an 8-hour a day shift for a week, or month, depending on the contract.
The point here is that irrespective of how hard you work, or how successful the company you work for gets, you still only earn that same amount every month!!!!
There is only so many hours in a day, so there is only so much you can earn. Unless…….
You find a way of converting that earned income into passive income.
Ahhhh!!!!! Have I got your attention. Great ,read on….
Unlike earned income, where you work for your money, passive income is a different ball game.
This type of income is generated by having your money to work for you. The money keeps on rolling in irrespective of how hard you work or how many hours you put in once the groundwork is built.
Lets look at my profession to illustrate this point.
I decide to own a pharmacy, and instead of having to work directly with the customers I get other pharmacists to run the store, which I will pay them handsomely for.
In this way, I can oversee the operation of my business from a different viewpoint and if successful, can go on to operate more stores with the same model in place. I am effectively leveraging the efforts of others without me to be directly involved in the day to day operations.
So I am earning passively, without much effort and can earn more compared to having to work a regular day job.
So can you see the difference? Am I starting to make sense? Here is a quick summary
So, which way would prefer to earn your income? By working hard or by earning it passively?
So, how do I Earn Passive Income Online
More than an internet connection and a laptop, I think you need a “drive” or an “ambition”
Something within you that ticks and make you want to do this.
….because it is HARD WORK.
To get yourself to earn a decent passive income online will test you and your patience. I will tell you upfront that the road will be filled with challenges and it is not an overnight success, But once you built this, it will be yours and your families legacy.
The benefits of earning a online passive income are as follows
- You will earn residual income as long as you look after your investment,
- Start up at your own pace, do it in your own time,
- Cheap to start-up( this is a model I am using and will introduce it to you)
- No overheads
- No enormous capital
- Fun and Exciting!!
- Allows for Personal Growth
- Unlimited Earning potential,
- Lots and lots of Training, SUPPORT AND HELP all the way from start to finish and beyond!!!!
What this requires of you
- Your TIME!!!
- Your PATIENCE!!
- Don’t Give up!!
- Make mistakes and learn from them.
- Have a passion for what you doing!
Pathways to Earning a Passive Income Online
Okay, so now you made up your mind and you know that you got what it takes to earn passive income online. The next big question is, “Where do I Start?”
There are so many vehicles you can take to earn passive income and here are just some of these options,
- Selling an e-BOOK OR E-COURSES
- Creating an e-commerce site. Something like Amazon or ebay.
- Setting up of your own You Tube Channel and getting a portion from the AdSense profits.
- Look to purchase an existing online website or business that is profiting.
- Buying and selling of products on eBay and Amazon Marketplace.
- Start trading Forex or share trading
- Affiliate Marketing.
Sheww!!!Now that’s a lot of options. Which one is right for you? This would depend entirely on you and what makes you feel the most comfortable to do.I have highlighted the last option for two reasons
- It’s the avenue that I take to primarily earn passive income online.
- It’s based on trusted and tried model and is working for millions of people online and an honest opportunity that I would like to share with you.
What is Affiliate Marketing all about?
Very simply put. It works like this.
Step 1: You create a blog or website around a niche subject that you are passionate or knowledgeable about. Then you talk about products or services that is related to your topic and promote them.
Step 2: When people visit your site, they get interested in buying the product or service. You direct them to an affiliate program such as Amazon that stocks the product.
Step 3: The customer buys the product, you get a commission from Amazon.
And Cha-Chingg!!! money is in your pocket.
Then rinse and repeat….the cycle continues……
So have I got you interested now in following a pathway on how to earn passive income online?
Still not sure? No problem.
In the next section, I have discussed more in detail, what affiliate marketing is and what the actual process entails and how to get started.
So lets head over there Right Now!
⇒What is Affiliate Marketing , lets learn more…⇐
Thank you so much for reading my article on learning about passive income. If there is something on your mind or you would like to share something please use the comments box below.
I would love to hear from you.
Thanks and Take Care