Often on my teachings I mention passive income and how we should all be aiming to automate our income?
But what does that mean? And is it really all it’s cracked up to be? Today I’m going to talk you through exactly what it means, how it works, and why you should be aiming for passive income.
What the #^&% is Passive Income?!
No, it’s not sitting on the beach without a care in the world. Although if used correctly, it CAN be.
Passive income really isn’t rocket science.
It’s not even new!
People have been making passive income ever since economies were first constructed thousands of years ago – even if they called it something else.
In essence, passive income is money that you make without any additional effort – i.e. after an initial burst of effort, the income is generated without you needing to actually do anything. Your money is essentially on autopilot!
Let me give you an example using Affiliate Marketing:
In the above example, you’ll earn money consistently and constantly during the month with essentially no work on your part. You’ll earn money when you go on holiday. You’ll earn money regardless of what you’re doing. Heck, you’ll earn money while you’re sleeping! Trust me when I say it’s’ a great feeling.
Other examples of passive income are:
- Fulfilment by Amazon (FBA)
- Social media optimisation
- Investing in stocks, shares or cryptocurrencies (comes with its risks!)
There are many more. The above are the main ones, which are discussed on this website.
The great part is, you can do ALL of them, not just one! Once you have all of them set up, you can leverage the success of each one to help the others, but more on that in another post…
Passive Income Means NO MORE 9-5
Once passive income is successfully implemented, a normal job is no longer necessary. A job is essentially you earning money for someone else, and getting paid a very small percentage of that back to you. In return, you get the security of monthly income. Nothing more than that…
But what does a job take from you?
- Your health and (sometimes) sanity
- Time with your family and loved ones
- Your ability to travel/take holiday for longer than 2 consecutive weeks…
- The best years of your life!
I could go on… basically a job really asks a lot from you without you even noticing. Why don’t you notice? Because it’s the norm!
If you could make $5,000 – $50,000 a month guaranteed from passive income online, would you bite my hand off? The funny thing is that thousands of people worldwide are utilising passive income to make millions every year and the other billions of people on the planet are not even aware of it!
Personally, I quit my stressful job in London where I was overworked and not appreciated. I moved to Lisbon, Portugal, and spend each day on my terms, doing what I want to do and nothing more.
I’ve found time for my friends in Lisbon. I’ve found time to go to the gym daily and get in the best physical shape of my life. There has not been a single day of stress since I left London.
If you’re asking yourself why you should bother to learn how to make passive income. This is why:
So you can quit your job which is eating away your precious time and stressing you out.
So you can live life on your terms, do what makes you happy, and better yourself each and every day.
So you can make a lot more money than you were making before at your dead end job.
I chose to start this website because I believe fundamentally that people are wasting away their lives for no good reason. They want money, but what they don’t realise is that money is nothing without life fulfilment! Often the people making the most money via the traditional route of a job, are the ones who don’t have any time for life fulfilment. It’s sad! Their parents are proud of them, their friend envious. So what! They are completely and utterly unfulfilled!
START EARNING PASSIVE INCOME TODAY – HOW TO
Step 1, choose a passive income stream.
It is best to just start with one, learn everything you can from it and make money from it, then start making more.
If you want cash flow immediately, Amazon FBA/Dropshipping are the best methods.
If you want zero investment and a greater long-term horizon, start with Affiliate Marketing or YouTube/social media.
Amazon FBA requires a few hundred dollars initially to set up the software you need and to buy some inventory (this is all discussed in my other posts). Dropshipping requires less up-front investment as you are simply the middle-man connecting the buyers with the sellers, but requires more research to find a supplier with a dropshipping agreement.
Personally I started with Affiliate Marketing and feel it is the best choice. If you are not camera shy, starting a YouTube account as well as a website in order to drive traffic to your affiliate links is not a bad choice either.
Step 2 – action step 1!
That’s right, I know you were already wanting to know what step 2 is. Well guess what, you need to do step 1 first! Too many people read about passive income without taking action, and it is losing people considerable money and more importantly, life fulfillment!
But how do I action step 1? I’m scared!
Don’t be. Of course it is scary to go against the norm. But when the norm is getting a job and living a resentful and unfulfilled life until you retire or die, I think trying something outside the norm is relatively less scary!
Read my page on Wealthy Affiliate, which is a dedicated community that looks to help each other make as much money as possible through affiliate marketing (often leveraging social media). It has 5 certification courses, and even 7 courses of an Affiliate Bootcamp which enables you to make good money a lot earlier than setting up on your own.
Take Action – Follow the Steps I’ve Provided in Order to Make Easy, Passive Income in 2018 and Create a Fulfilling Life!
As always, I love to help or just to chat. Leave a comment below or contact me through the Contact Me page. I get back to everyone!