What is s The Best Passive Income Businesses
If you’re new to the world of online business, blogging, and passive income, this page is for you! It contains the information you need to start your own passive income with confidence!
But what is Passive income? Passive income is an income received on a regular basis, with little effort required to maintain it. The key to passive income is allowing cash flow or continuous online purchasing to happen without you being present.
But passive income don’t just suddenly happen, you have to work very hard in the beginning to be able to earn passive income. You have to invest your time upfront creating valuable products and experiences that can be purchased online. Thus, we have to work hard now to continually reap the benefits later. In this article I want to give you a little insight into how I earn a passive income online and how you can too.
But first let’s look at 3 reality checks before we go any further.
- Generating passive income is NOT easy and it takes a lot of hard work.
Beware of all the internet guru’s that persuade you to think that making online money comes easy. They are just trying to make a quick sale based on false hope and promises. The truth is, nothing in life comes easy. Making money online is no different. Online business can be hard, especially if you don’t have a coach or mentor that can guide and teach you the fundamentals of internet marketing.
- Generating passive income does NOT happen overnight.
The fundamentals I follow are a solid foundation on how to set-up a proper online business that is sustainable and able to grow over time. It is not a “get quick rich” schemes, with limited and short sighted wealth. The more time you invest at the beginning, the sooner you will start to earn. If you have the patience and will to succeed -you can certainly do it too.
- Generating passive income is NOT impossible.
It is possible. With the correct fundamentals, a teachable spirit and a will to succeed, you will be able to earn passive income. The sooner you start to believe in yourself, the sooner you can be on your way of living your dream. The lifestyle of working at home, working limited hours or hours that suite your needs, spending more time with family and friends, it is all possible. But YOU have to take action, and you are king of your own castle.
So just to recap, Passive income is an income received on a regular basis, with little effort required to maintain it. The key to passive income is allowing cash flow or continuous online purchasing to happen without you being present. To clearly understand the concept, let me explain the difference between an Active Income Model and a Passive Income Model.
The Active Income Model
Here you have to be actively involved. This will equate to something like a full time job. You will provide a type of service or product to someone, and that person is willing to pay for it. If you don’t deliver the service or product, you don’t get paid for it.
For example, if you are a website designer, you will create a website for a customer, and in return he will pay you an amount for the finish product or service. The only problem with the active income model is that if I don’t work, or don’t deliver the product or service, then you don’t get paid. You are basically trading time and effort for money, but at some point you will reach a ceiling, as you can only do so much in a specific time period and scalability is limited.
The Passive Income Model
This model is what you should be aiming for. In this model you continue to get paid even when you’re not working. You could be taking the kids to a school event, cooking dinner or travel all over the world, and still be generating an income through online sales. This might sound unreal, but in reality it is as REAL as can be, and it is happening every second of the day. If you choose the right roadmap or strategy your sales can grow even when you’re not actively working on it. You don’t even have to own a product to make sales. This strategy is called affiliate marketing. And it is indeed lucrative.
There are two options for affiliate marketing.
- Normal Affiliate Marketing
The traditional way most people approach affiliate marketing is to create a website, develop the traffic for it, and pair it up with a profitable affiliate offer. If your traffic source remains it will continue to produce sales for you day in and day out. You can definitely earn a passive income with this model, but your income will always be dictated by your last sale. If you lose the traffic source for whatever reason, then you don’t have an income.
Your growth on the normal affiliate marketing strategy will depended on the amount of traffic you can continually generate and or the price of the offer/s and or both.
- Membership Sites
Affiliate marketing of membership sites allow you to get paid over and over again for as long as that person remains a paying member. Thus, you not only get paid for the initial sale, but the recurring monthly sales are the lucrative low hanging fruit. The more members you can funnel through your sales pipe, the more your income can grow and escalate. Even if you were to lose your traffic for whatever reason, you will still have that income buffer.
Membership sites usually also have very smart tools which you can use, that will help you to generate more sales.
This affiliate marketing model is one of the best and easiest ways to start your passive income stream.
Want to know the best passive income / membership model I recommend? Find out here.
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Uber Wealth Team