Passive Income Definition
According to Investopedia – “Passive income is earnings derived from a rental property, limited partnership or other enterprise in which a person is not actively involved. As with activeincome, passive income is usually taxable. However, it is often treated differently by the Internal RevenueService (IRS)”
Passive Income Online
Understanding this from an early age and hearing it preached by my Finance professors at Oklahoma State, I was always very curious about money and how to make it while I slept. In other words, I wanted in on smartpassiveincome and I wasn’t going to settle for anything else. For me, it was all about how rather than if.
My first stab at business was in investment real estate. After 2 years of working with a small Texas start-up I went independent and was able to purchase my first cashflow property. I was on cloud 9 but eventually, I would fail and be left scrambling to piece together a resume as I sought out employment.
Fast forward to today, I’m in a great position as an Amazon Associate, able to earn relatively easily by creating content intelligently. The biggest difference between earning online and through the means that have been traditionally available is the sheer amount of potential to scale. If you are able to rank first page on Google you can earn substantial income.
But, as in most disciplines. It’s not about doing it once, it’s about developing predictability and consistency.
Passive Income streams
Through staying curious and diversifying what I did online, I was able to find many ways to earn online. Through blogging with authority and also learning to test different topics, I was able to earn my first $300 dollars within 90 days of completing SEO AD.
My biggest mistake thus far has been not knowing or understanding complete how and why the articles that worked did. Granted, I was able to use clues from my first sale to create all the follow-up sales. Now that my product is out of season, it’s apparent that selling products as an affiliate might not be the most reliable way.
Recurring revenue is always what we really mean when we mention passive income. Obviously, we want something reliable we can build upon. The best way I’ve found to do that is through software sales. The only issue is that I’ve personally only been able to complete the pass on one-time software sales and products thus far.
I hope you can value the honesty. I’ve been able to earn $394.63, and admittedly I’ve been stuck there for the last couple months trying to figure out how to breakthrough on the recurring revenue side of this game. If you want, join the community I’ve aimed it specifically at helping newbies (it takes one to know) get from $0 – $1000 with full transparency. Because let’s face it, there are more than enough success stories offering big bucks.
But what about when you’re just trying to get traction and test this thing out?
Passive Income ideas
One of the best affiliate networks to start on is ClickFunnels. It’s not my personal favorite, but my friend and mentor Greg Jeffries had his big breakthrough promoting their software on YouTube and absolutely kills it with there recurring model and Dream Car incentive.
Check out this and other recommended tools here. I also get a lot deeper into this within the community obviously.