To start with, what is passive income?
According to this definition found on WikiPedia from this Google search result page:WikiPedia Definition of Passive Income
With that in mind, lets read what expert and an online marketing symbol (Pat Flynn) of the term Passive income ideas have to say about this subject,
building online businesses that take advantage of systems of automations that allow transactions, cash flow and growth without requiring a real-time presence. We don’t have to trade our time for money one to one. Instead, we invest our time upfront, creating valuable products and experiences for people, and we reap the benefits of that time invested later,” he says, adding, “It’s not easy. I just want to make sure that is clear.” – Source, Forbes
Okay! But before we go fully on today’s topic, here is something you need to know, understand and accept upfront (taking from the above words of Pat Flynn) – there is no such thing as 100% passive income lifestyle or business.
Every noise you read about building a passive income business online happens at the back of years, months, weeks and days of hard work, consistencies, trials, and failures, building, creating etc.
The business of passive income ideas is to keep your business operations fully on automation, and there are lots of tools that will make your life easier doing that, but even at that and on top of it…….a lot of time MUST have been invested into building, growing and perfecting the business to reach such level.
And when you achieve this, you still need to keep maintain the trust, credibility, awareness and keep updating the tools that make your business runs smoothly. So while you have invested the greater amount of time upfront, a lot of time still require to maintain your business otherwise it may get sidekick by your competitors.
So you see, is not all that passive anyway!
This is why we will need to discuss some important issues about the reality of what passive income IS and what is NOT plus how you can create consistent passive income opportunities that enable you to be financially free.
Tips #1. Passive Income is Not For The lazy Type.
Nothing worthwhile that leads to great success in life comes easy, so also generating passive income consistently good enough to sustain your whole life responsibility will not come by on a silver of platter.
You have to work your way up to it, be prepared for the task ahead and did I tell you that the task is not an easy one at all?
Building a successful online business is one of the most challenging tasks I ever know, in my opinion – this is not something for the weak minded person or the so-called “Lazy Man.”
Online business is very hard, don’t get deceived by some conventional marketers that try to make money off you by selling you false hopes. It takes lots and lots of constant efforts to build a thriving online money making business.
Tips #2. what you give is what you get.
In fact, let me put it straight in your face – Garbage in, Garbage out – what you give is what you get. If you put in few hours of work (Productive one for that matter) you also get few rewards in the future for your efforts.
If you put in long hours of productive work, you get more and better rewards for your efforts in the future.
So don’t expect to start generating passive income from mediocre or unproductive task. It doesn’t happen like that, you have to give your best upfront, put in lots of efforts, energy and resources to perfect the system before you can expect it to work on autopilot for you.
Tips #3. Choose EveryGreen Topics.
This is very important and applicable to online marketers that hope of generating residual income from their one-time efforts they’ve invested in putting that quality content or products out there.
Trending topics that fade away with time or events won’t give you much of passive income opportunities, it takes writing on evergreen topics or creating products and services that will always remain relevant to the concerned society to make the best out of passive income consistently.
This is one disadvantage of blogs that writes on technology, mobile devices, events and occasions, breaking news etc. What is HOT in the morning might just be as cool as ice cold water in the evening – no one is talking about it anymore.
These types blogs need to keep updating multiple times per day in order to remain relevant to their followers. The worst is that a good percentage of their content doesn’t have long-term value because they’re writing on time-sensitive information.
For instance, do you remember this Nokia Symbian OS Mobile phone? It was my first ever smartphone to use, and as at the time….one of the very best smartphone in the market.Nokia 3650
Fast forward to some four, five years later, even my six-year-old son won’t accept it as a gift. Technology has moved beyond it, and if there is anyone living that built part of his passive income strategies on Nokia Symbian OS phones brand……..I guess that’s a dead income a long time ago.
Tips #4. Passive Income is a Reality.
Many are still in doubt whether earning passive income is real or not, my answer is “YES”! earning passive income from your one-time efforts is a reality and not myth.
One blog post you publish today has the potential to keep generating income for years to come as long as the topic discuss remain relevant to the affected community. Also, a single product you produce today can keep selling for years so far it remain in top shape, and relevant to the community.
Take the business of ebook publication for an example.
The author writes and published his digital book today, but keep selling it for years to come as long as certain factors are met.
Tips #5. Discover Your Target Audience.
Earning consistent residual income will directly involve utilizing your personal skills, experience, and passion to create something worthwhile for your target audience. The best you can discover this target market, the best your chances to serve them better with providing them with useful content/products and or, services that will benefit them.
Don’t build your business on the purpose of trying to appeal to everyone, targeting everyone in your marketing means you’re calling nobody to your business. You can’t appeal to everyone.
How to discover your target audience.
There are lots of practical ways to discover your ideal target market, but here I will discuss few:
- Your Passion. Your passion should be your number one strategy for finding your ideal audience especially if you’re a beginner. This will make it easier for you to serve your audience in an honest way, and to keep serving them for long. Try to discover your true self; what is that gift nature has blessed you with that the world need to see in you? If you can discover this, consider building your online business around that gift….it makes a lot more sense starting a blog/podcast or video blog around the subject you’re passionate about.
- Use Keyword Tools. If you’re an advance digital marketer, keyword research tools like that of Google keyword planner is a great tool for discovering target market that resonate with your passion. Use this tools and many more to discover hidden treasure in creating your next business blog and start building the foundation that leads to creating passive income streams.
- Forums. Niche specific forums are great places to discover what could be hot and have long-term value to build your business around. There are lots of these places on the internet, depending on your choice…..find one that relates to your business and see how you can make the best of it. Warrior Forum is a great place to discover HOT topics that has been around for years and are likely to remain so.
Tips #6. Choose Products/Services wisely.
One of the backbone to create passive income opportunity is in the services or products you promotes either as an affiliate marketer or product owner.
If the products or services you promotes doesn’t appeal to your target audience, there is no way to go around this – you won’t make money from your efforts not to say generating consistent passive income from it.
Choose products or services you render wisely and this should be base on the topics of your blog/podcast or youtube videos. If your audience is directly tied to the products/services you promotes, you’ve opened up your chances of generating a steady income.
Tips #7. Start a Niche Specific Sites.
Once you’ve discovered your ideal audience is best to create a site only for this audience;. This will allow you to concentrate only on the task that truly matters to them.
Instead of building a blog that talks about SEO, Traffic techniques, Backlinks Strategy, Conversion optimization – you can narrow it down to target just one specific topic. Let say – Traffic Techniques.
All the above-mentioned topics are closely related yet each one can be a stand alone blog topic you write about.
This makes it a lot easier for your audience to know what they should expect from reading your blog, it also provide advanced marketing strategies for proper monetization methods you can take advantage of when your niche specific site start generating quality traffic.
Tips #8. Choose Best Product Format.
After you’ve created your niche specific site, and you have validate that your audience do enjoy what you’re offering them, and some decent traffic worth monetizing……is time to decide on what product will best serve your audience purpose.
There are many format a single product can be created especially when it has to do with giving out information.
You can create an ebook to sell to your audience who are currently reading your blog while you place it on for sale in places like Amazon, Ejunkie, ClickBank etc and makes more money from it for years to come as long as it remains relevant to the society.
Also, one of the best strategies to keep earning passive income is by creating membership sites, but this has lots of layers to cover and is best executed by season marketers like Zac Johnson who know what it takes to manage it effectively.
Affiliate marketing is something you should consider too, especially if you have loyal followings that put great trust in your work and take positive actions on your recommendations.
However, choosing the right affiliate product to promote is one difficult task, but there are lots of ways to make it look simple and one of such ways is to ask your audience directly what products could best solve their problem(s). You can do this through running a survey on your blog, email newsletter, social media marketing and many more.
Affiliate marketing if done right, can be a very reliable passive income streams for years.
Tips #9. Remember Your Audience Trust.
If there is just one thing I would want you to take from all you’ve read so far – that would be trust – don’t trade the trust your audience have for you for anything in this world……even a million dollar does not worth the trust people have in you.
Trust is what will make people buy from your recommendation time and time again. If they put their trust in your expertise, skills, and knowledge…….only to find at the end of it all that you’re only here for the money – believe it or not – that’s the beginning of your end in making money online.
Word of mouth is consider as the best form of advertising, so also word of mouth is the worst reputation or image destroyer. And to make things worst, whatever goes up online remain online forever so far search engines have indexed it.
Generation after generation will keep reading your ugly past forever even after you’re gone.
The joy and freedom that comes along with being able to live the way you want are enough to motivate anyone to strive to reach greater height in his choosing career, and one of the best possible ways to live that dream live is by not trading your time for money.
This is where earning passive income comes into play. But remember, there are lots of works involved upfront and when these works are married with the best intention to serve your audience faithfully……….the sky is just your beginning!
What Does Your Blogging Network Look Like?
I do nothing on my own.
Everything is a team effort.
As I teach in my blogger networking eBook, the way to increased, ever-expanding blogging success is to look for, grow and tap into a huge, loyal network of blogging friends through the power of generosity. Be generous. Help people. Shout out fellow bloggers. Release expectations. Get super connected. Most of us understand this is how to succeed online; be generous and get connected because 100 is better than 1. 100 friend efforts are far better than your effort alone.
One basic problem arises for most new or struggling bloggers: overcoming the deep fear of networking. For odd reasons, humans cling to pulsating fears concerning reaching out to other human beings. Bloggers fear being rejected, failing, being criticized or giving up credit for their blogging success. Honor that fear. See how far you get on your own steam. Not only that, the agony of micro-managing makes you sick, broke and quite dumb, if you are honest with yourself. How silly of you! Why do everything on your own today? Why not comment genuinely on a few blogs, retweet a few blogger blog posts and mention a few bloggers on your blog? Begin networking. Build a network. Succeed online.
What’s It Look Like?
Be honest, my blogging sweet robbins. What does your network look like? Is it even there? Do you even have a network? Many bloggers publish a post, share it to Twitter and Facebook and sit there, dumbfounded. Do you honestly believe your network just materializes out of thin air? Nope. But if you buy my eBook, follow my 13 steps and build your blogger buddy network by being generous, you can land on famous blogs, earn coin and drive traffic to your blog, too. Everything hinges on your honesty. Admit having only 1, 3 or zero blogging buddies. Truths set you free to network generously and successfully.
How to Grow Your Network
Simple. Be generous. Begin now. Publish a thoughtful, personalized comment below. Be seen. I cannot read all comments but the thousands of people who read blogging tips tend to read comments. Somebody eventually reads your blog comment if you comment genuinely and generously every day on Blogging Tips after reading posts. Someone clicks your link because they love your comment and want to meet you. One visit to your blog later, you may have a blogging buddy, or even a client or customer. Or maybe you have a loyal reader. This is networking 101; be generous, engage people and you build your network.
But do not stop after commenting on Blogging Tips. Branch out. Go wide. Read and comment genuinely on other blogs in your niche. Make more friends. Life gets easier and easier if you have more blogging friends in your corner because these folks inspire you to keep going, plus your friends amplify your presence exponentially.
Be generous and genuine. Reach out to more bloggers every day. Networking is a bit uncomfortable sometimes if you look for immediate returns but gliding through these temporary feelings helps you tap into something special with your blog. Connected bloggers have no issues growing their blogging business because 100 is better than 1. Remember that they next time you try to go lone wolf with your blogging campaign.
Are You Leveling Up with Your Blog?
Every time I reach a new level with my blog, I notice another level invites me. I do not work harder. I never work longer. I love what I do and keep generously helping people but think of how to go wide as I level up. Think of that one for a moment: consider how to go wide, and what it means.
I write and publish multiple posts to my blog. Each post gains views. Going wide. 4 quality posts beats 1 quality post. But I go even wider by writing and publishing multiple guest posts daily. I speak to 2 or 3 or more different blogging audiences, going wider and wider, increasing my exposure and expanding my presence online. But I go even wider as I level up; I contribute on Quora and on the Warrior Forum daily. Leveling up is uncomfortable sometimes but always freeing. Leveling up helps you see greater success versus hitting blogging ceilings.
Be More Generous to Make More Money and to Avoid Lulls
I speak to bloggers who suffer lulls. One client signed up 4 months ago but no clients signed up since. The appearance of a 4 month client drought, or lull, simply indicates a lack of leveling up and a lack of generosity. Even if no clients signed up during your 4 months of leveling up, your eBook sales would triple. Audio book sales would jump, too. Plus you would open 2 new income streams. This just happens. Be generous and blogging will be generous to you.
Being more generous by helping more folks across multiple platforms feels uncomfortable sometimes. Who wants to go wide when doing so means leaving your comfort zone on a daily basis? I love blogging. But I feel uncomfortable writing my third post on a train ride to Connecticut. I will go super wide when I reach the destination though, publishing a combo of posts and guest posts to level up effectively, reaching more people in less time.
Most Bloggers Never Level Up
Most bloggers write and publish a post to their blog weekly. Struggles ensue because they never level up after publishing weekly for 3-6 months. Be more. Serve people generously. Go wide. Publish blog posts and guest posts more frequently to expand your reach. Increase blogging traffic and profits.
Why do you think most bloggers never make $100 during their careers? Few bloggers regularly level up, playing small to be comfortable, dodging their fears. Of course, their fears manifest as 0 dollars and 6 blog visitors daily for the next 12 months UNTIL they level up, go wide, be generous, leave their comfort zones and face their fears. This is not a fluffy, pleasant process but we all pay a fear tax to level up and to become successful bloggers.
Pay Up to Level Up and to Play Up
Pay up by spending time and generous energy reaching as many people as possible through blogging. Guest post. Publish more frequently to your blog. See increased blogging responsibility as more fun and freedom and service. I enjoy freedom offline because I level up online. I pay up, level up and play up in higher blogging circles because all top bloggers paid the same dues to reach the top. Why do top bloggers hobnob with one another? Top bloggers respect how other top bloggers pay their dues on this blogging journey and connect deeply with one another, co-promoting each other’s success.
The fun and freedom you experience through blogging is well worth the effort and discomfort of leveling up.
If you need a guide for facing blogging fears, grab my blogging mindset eBook on the way out.
1 Warning About Blog Site Speed and Successful Blogging
I know blogs should be fast loading for becoming a successful blogger.
But successful blogging depends not on site speed alone.
Before you go bananas trying to make your site as fast as possible because you believe you cannot succeed sans a razor sharp, lightning fast loading blog, get this: a handful of bloggers I came across yesterday made $10 grand, $20 grand or $30,000 monthly – or more – running relatively slow-loading sites heavy with ads and images. Far from being lightning fast loaders, the blogs took a while to render on my Chromebook. Why does someone make $30,000 monthly with a kinda slow loading blog? How clear you are on your blog determines how much you succeed with your blog.
I feared publishing high volumes of content for worrying the posts would slow down my lightning fast blog. I held back. But hugging the fear of slowing down my blog, I decided to publish more content and experienced greater blogging success. Traffic and profits rose. Even though my blog slowed down a little bit, people did not care. Like the $30,000 a month bloggers, I got clearer on my blog loading more slowly and saw greater success because I hugged the fear of having a slow loader, and proceeded in that direction.
My blog does not load lightning fast and I experience increasing success. But when my blog loaded blindingly fast, I did not see as much success because I stopped posting generously due to my fear of posting too much and slowing down my blog. Do you see how insidious fear is? Do you see why I wrote an entire blogging mindset eBook? Blogging struggle is fear. Blogging success is feeling fear and letting fear go, to blog from abundance, love and trust, being generous with your time and talents.
Slow Blog Big Bucks
I have seen legit slow loading blogs run by bloggers who make hundreds of thousands of dollars every year. The blogger proves: if you let go fear in any area of your blog, success is yours. I betcha these bloggers did not have the fear of a slow loader in their ear; these bloggers have posture, knowing loving readers read their content if said content loads in under 1 second or in 10 seconds. Seriously; some blogs load 10 seconds or longer for me and the bloggers owning these blogs make serious bank and have serious clout online
By all means, speed up your blog. But do not make the common mistake of trying desperately to preserve lightning fast load times at the expense of increased blogging profits, increased blog traffic and stunning success over the long haul. You can always upgrade hosting too; the option is available at any time. But do not foolishly believe blogging success is a simple speed test. I vividly recall feeling proud how fast my blog loaded, publishing 1 post every few days, and seeing my lukewarm to not so hot at all blogging success. I had fun generously increasing my posting frequency, then, voila! My blog slowed down some but my traffic skyrocketed and profits grew fast too.
Never allow someone’s fear – including your own – dictate your blogging campaign direction. Bloggers who make serious coin run some slow-loading blogs. People stick around and read your blog if you fear not it loads slowly. Simple energy thing. But the clarity needs to come from within if you want to make a lasting change and get super clear of this destructive, failing energy.
Search Blogging Tips
Blogging2 years ago
6 Steps for How I Nabbed 6500 Comments on My Blog
Blogging11 months ago
113 Bloggers share their Favorite Email Marketing Tools
Blogging12 years ago
CoComment – The new way to track blog comments
Blogging3 years ago
6 Tools For Boosting Content Marketing Results Over The Holidays
Search Engine Optimisation3 years ago
7 SEO Analysis Tools Every Blogger Needs to Know
Reviews2 years ago
LeadNetwork Pays Big Bucks for Payday Loans
Blogging2 years ago
How to Start a Fashion Blog in 8 Simple Steps
Blogging2 years ago
How to Become a Nimble Blogger