How to Create Passive Income Easily: What is Passive Income?
Welcome to the Passive Income Streams Series. Here you can learn all about passive income and how to create a successful passive income stream. I am Cyril, owner of Building Successful Online Business. In this series, I am going to teach you how to legitimately create passive income. The methods are not scams and you can totally work at home online.
What is Passive Income?
There are mainly two kinds of income. They are active income and passive income. Before talking about passive income, I would like to talk about how do most people make money today. In our education and society, people are told to make money after graduate from your high school or college. People are told to get well education and find a descent job and make few thousands per month.
This is active income. Active income is kind of income that you sell your effort for money. You work hard at the office and get paid by the boss. You may learn how to work at the office, but you never learn how to work for yourself. You don’t know how valuable are you and you don’t know who else will pay you better. This is active income. You will never scale up your income and you will never make enough money that you want.
So the opposite one is Passive income, which is the main topic of this series. Passive income is a kind of income that allows you to create income while you are having vacation, sleeping or even working for a full-time job. Yes, you can make passive income without quitting your job! Passive income is something you have invested and created that helps you generate income by itself. If you don’t know how it works, just keep following me and you will learn all about it.
When I talk about passive income and making money online, I am not telling you about the scams like doing survey or recording sounds or any magic machine that makes you overnight millionaire. You won’t make money at first, honestly. But you will make as much as your full-time income. Some people already make over $10,000 per month with just starting his business for less than 2 years. (Click Here to See How)
Why Should I Create Passive Income?
Passive income is essential for everyone who would like to enjoy freedom. With a passive income business, you can work in different country, work at home, wherever you like and whenever you want. After successfully created a passive income business, things you have to do is to keep updating it once or twice per week. You can also do it at any place you want.
If you ask few millionaires about how to create a millionaire business, most of them will tell you about passive income, no matter how they say. The truth is, even businesses like McDonald’s, Starbucks, Facebook, Apple and all successful business you name it are passive income for their bosses. If you own one of the company let say McDonald’s, do you think you have to make a hamburger for a customer to make millions and millions?
If you want to succeed, you have to bare in mind that you are going to create a long term business that allows you to scale it and upgrade it. Imagine if you start your business by writing blog posts. Things go though at first and you feel desperate by just getting one visitors per day even you have already 50 blog posts. Are you suggested to give up? No. You are building a business. You are building a business that runs for decades. Just think by yourself, what if you have created 500 blog post with well-targeted keywords? Even if you are only getting 10 visitors per page in this situation, you will get 5000 visitors per day. If you do conversion well, you can on average convert 2% visitors into customers. That is 100 customers per day. What if you can only make $1 per customer? You are making $100 per day and $3,000 per month. And you can keep making this money without keep putting hard work in it anymore.
Above example is just the worst case. In fact, you are having much more visitors per day if you really have 500 posts in one website. Moreover, 2% conversion depends on what you are promoting or selling. If you don’t sell scams and trashes, you probably get more conversions. And, you are making much more than $1 per customer. Imagine scaling this business and what will it be? You will make over $10,000 per month! At this point you can quit your daily 9-to-5 job too!
What to do to Create Passive Income?
- Create a Website and Monetize it
- YouTube Video Marketing (Can be combined with creating a website)
- Stocks, Binary Options or any other investing method.
- Create a products that don’t need you to keep providing customer support by yourself (Clickbank, App Development)
These are the brief methods of creating passive income. Both of them are “work at home online jobs” that allows you to work wherever you want and whenever you like. I will dig deep into these topic later on in this series. I am personally now using the first two method and I am really making descent amount of money from it.
Can I Really Work at Home Online?
You CAN really work at home ONLY. If you don’t want to keep going out for work, you can just stay at home and stick with your laptop or desktop and you can start your business. There are tons and tons of coffee shop millionaire that only work at home or work at coffee shop online. What you really need is a computer no matter laptop or desktop, and a PayPal account (to receive payment).
To create a passive income online business, all you have to devote are time, action and dedication. You may encounter many obstacles through your journey. But if you don’t give up what you have done, your business will just keep growing. Just sacrifice your 3-4 hours of leisure time per week and you will see results after months.
Create a passive income is essential if you want to make money while sleeping. It is not impossible. In fact, if you chose a right tool with right training, you will find that work at home online jobs are actually exist. In the next chapter, I will tell you about how to choose a legitimate program for making money online.
Please let me know how do you think of this by leaving a comment below! 🙂
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