What is Passive Income?
What it is and Why You Want It
Over the past few years, Passive income has been a relatively loosely used term. Colloquially, Passive Income it’s been used to define money being earned regularly with little or no effort on the part of the person receiving it.
Popular types of passive income include real estate, peer-to-peer (P2P) lending, and dividend stocks. Proponents of earning passive income tend to be boosters of a work-from-home and be-your-own-boss professional lifestyle.
Rather than being paid once for the work you’re doing, you create something (or create value) so that you continue to get paid indefinitely.
What Passive Income is NOT
You can “Set and Forget” your Revenue Streams.
Dangerous Myth
We all like the perception of not needing to do any additional work after starting a blog or an online store. But, real life certainly is not so simple. Blog visitors expect new content on a consistent basis. Prospects who enroll in an online class expect personalized support when they come across a problem. The web itself is consistently changing.
If you aren’t doing your part to stay abreast of industry changes, customer expectations and other responsibilities you’d find within any “active” business, your passive income will quickly dry up. Regardless if you delegate responsibilities, you’ll need to check in with your team to make certain tasks are being performed up to your standards. Additionally, you will probably need to continually fine-tune your idea to help it stays relevant.
Passive income still requires a consistent presence.
You Only Need A Single Weekend To Get Started.
Convenient to Assume
It’s convenient to conclude that anyone can toss together a blog or another passive income source in a single weekend. Realistically, developing a source of income that will actually deliver lasting results requires a great deal of research and work before you even earn a single penny.
Even something as seemingly simple as creating a blog requires extensive research and planning.
As stated by R.L. Adams, bloggers need to find the right niche, choose a web hosting platform and buy a domain name just to get started. After that, they still need to learn about browser caching, SEO, permalinks and more — and don’t forget about writing good content and uploading quality images!
Needless to say, you probably won’t be able to do all this in a single weekend.
Be willing to spend the time to learn the specific opportunities and challenges related to your idea, and put in the effort to ensure it is right. This isn’t a race. Quality will win over speed every time.
One Solid Source Of Income Is All That You Need.
Another Dangerous Myth
Another dangerous myth of passive income is the idea that you can generate all the money you’re seeking with a single source of income. This is like putting all your stock market investments into a single company. If that stock does great, you’ll be rich! But, if the stock prices fall, you could find yourself practically broke.
As with stock market investments, it’s safer to diversify your income sources, particularly if you’re planning on having these revenue streams replace your current job.
For instance, bloggers with relatively low web traffic use everything from affiliate links and selling their own products to offering online courses and freelance writing services to generate extra income. By diversifying your revenue streams, you’ll have a greater likelihood of earning enough to support your needs.
GETTING STARTED WITH PASSIVE INCOME?
Passive income is quite possibly one of the most important and central ways that earn extra income without requiring a real-time presence.
Built to Last
You Could Possibly Sit on the Sideline
Earn extra income
But what you can do is build a remarkable website that the right people seek out. Passive income is definitely possibly one of the most important and central ways in which earn extra income without requiring a real-time presence.
Making money while you sleep
If you’ve ever heard the concept of, making money while you sleep, no truer words have been spoken. With passive income, you do generate income while you sleep. You also generate income while you’re awake. It’s automatic and simply keeps coming in.
Most Fruitful
You could get overwhelmed from information from the web
Creating a passive income stream is far from automatic. It’s no easy feat by any measure. It takes an enormous amount of effort and exertion of your time with very little return in the beginning. It involves an ample sense of frustration and an enormous learning curve. Still, it’s one of the most fruitful and worthwhile investments of your time for which you could possibly undertake.
Passive income is quite possibly one of the most important and central ways that you receive financial secure (rich get richer). It’s the manner in which you detach your capacity to earn from the time that you do have in a day. If you’ve ever heard the term, making money while you sleep, no truer words have been spoken. With passive income, you do generate income while you sleep. You also generate income while you’re awake. It’s automatic and simply keeps coming in.
Built to Last
Why Don’t You take action?
Pathway to Success
While passive income is probably not the solution to all or any of your immediate problems, it is the pathway to success and most without question the foundation for wealth and happiness.
Living from Paycheck-To-Paycheck
When you’re not stressed just to make enough money to pay the bills and you’re no longer living from paycheck-to-paycheck, there’s mental clarity and emotional catharsis that sets in. You become free from the shackles associated with a life-sucking 9-to-5 job start embracing a more fulfilled life.
Serious About Financial Secure
You’re free in the greatest sense of the word. Isn’t all of the headache and the hassle worth that? Isn’t it an opportunity to break the chains which have restrained you to a life that’s been less fulfilled? I would believe so. And I would imagine that if you do in fact truly are seriously interested in financial secure (getting rich in life), then you’ll embrace the passive-income machine.
Passive Income business Essential
Starting a Blog, Attracting Readers and Making Money
A website is the first essential of any profitable passive income business done online.
Find Your Niche and Decide What to Blog About
Finding your niche can be daunting at first because, truly, there are blogs in every niche. You are not going to be the first. However, if you look, you will see that there are holes to be filled. Find a need and fill that need.
You need to pick a blogging niche that will help you target a specific audience. It’ll help you determine the specific problems that the niche market is having, which will prevent you from wasting time on posts that won’t receive traffic. This all boils down to product creation. Being able to learn about the specific problems members of your niche are having will help you come up with a few product ideas to solve those problems.
When you decide on your blog niche, you need a clear understanding of who your target audience is.
Install a set of must-have WordPress plugins.
Although the kind/niche of your website mostly determines what plugins you should have on your website, there are some plugins that every WordPress blog needs. As a site owner security speed, SEO and Disaster Recovery should be universal concerns which you as the owner cannot simply afford to ignore.
Choose a Theme and Design Your Blog
Choosing the right theme is obviously important. The right one should give your content pizzazz, keeping it responsive across devices, while also loading in the blink of an eye. Yet with so many themes in the pool, it can be a rather daunting task to pick the best one possible.
What’s more exciting to me, is that there are paid/premium themes that are made by web designers or web design companies and constantly updated with the latest and best features and functions.
A Super powerful theme with drag-and-drop simplicity that I think even beginner WordPress users will find quite intuitive.
Develop Your Content Strategy
As a beginner, it’s that a blog content strategy is a necessity if you want to see true results.
Not only does a written plan increase your chances of success, but it also saves you hours of time you would have wasted on the wrong promotion strategies, writing about the wrong topics, and working with the wrong influencers.
While it may be tempting to fire off your blog posts as they come to mind, having a written blog content strategy will save you hours of headaches. Plus, you’ll see way more success.
Find & Register Your Domain Name
Your domain name (or web address) is like your street address. It helps readers find your website. The site’s domain name should reflect the contents of your blog and be easy enough for people to remember — and spell correctly.
If the domain name you want isn’t available, IONOS will offer similar alternatives. You can always change “.com” to “.net,” for example, but remember people are used to typing “.com.” Deviating from the norm might throw them off.
Sign up for a Web Hosting Provider
First things first: You need to find “internet real estate” for your website. This requires choosing a web host. Your host will provide the storage, bandwidth, and speed to keep your website alive and well.
There are a number of hosting options out there, and they all essentially do the same thing. For the sake of simplicity, we’re going to focus on one of the most well-known services: ionos.com
Publish and Promote Your Posts (To Start Earning)
Publishing your post is just the beginning of the adventure that is modern web marketing. There’s simply far too much content published every day for any post to stand on its own merit. The concept of “if you build it, they will come” is long outdated.
The problem faced by bloggers is the same faced by up-and-coming writers. How will people find you? If you have not yet published a book (and even if you have) it is difficult to make yourself known in the vast Blogosphere.
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1&1 IONOS
For Website Hosting / Domain & SSL Encryption / WordPress
All of my niche domain/websites are hosted on IONOS. Why? Because they make it incredibly easy to get a new site up and running with their one-click automatic WordPress Blog installation.
You can use your 1&1 IONOS account to host multiple domains—no need to pay more for hosting when you’re ready to start another website. Also, they provide outstanding customer service.
I highly recommend using 1&1 IONOS for your first website, and you can get started now at $1/month.
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