Passive income is the best income you will have. It is the smartest work anyone can do.
I want to talk about one great source of income. The-must-have-source of income for great success. This source is called the passive income and we will talk about how to make passive income ” also known as residual income“
Firstly; What is passive income?
- Passive income is the one that continues generating revenue after doing first-time task. For example, when you refer someone for any service with recurrent commission you are getting multiple commission for the one-time task you did which was getting this referral to the service. So, it is called recurrent income too.
- It is simple. Residual income is anything you do one time and keeps generating income and there are many examples for that, which we will discuss later in this article.
Why is passive income a must have?
- The answer of the previous question already gives the idea about why it is a must have. Imagine doing one thing one time and getting continuous income from it. Imagine doing one video at YouTube and keep getting payments from Google Adsense for the views of that video. Also, what about doing more than one-time task and getting multiple passive income streams. Think of the YouTube channels owners who already have many videos uploaded there that keeps getting views and so more income. Now compare this kind of income to any other regular 9-5 job and any other way of income. Think when you are tired to work or want a long vacation, with the passive income you can enjoy a long vacation and also can set the time you want to work personally.
- Now compare this kind of income to any other regular 9-5 job and any other way of income. Think when you are tired to work or want a long vacation, with the passive income you can enjoy a long vacation and also can set the time you want to work personally.
- You can also shift your concentration from something to another while maintaining the income stream from the first one. Not just taking the risk of beginning from ground zero. Many people in this world aren’t doing what they like because they just can’t leave the current work and risking their income. They can make a passive income for them that keep providing them with money to sustain their life and give them the opportunity and ease of choice to do what they are passionate about.
Let’s take the steps to make passive income
- First, think of what you can do and try to make a residual income from it. So, if you write well, make good videos, or write programming codes, you can make passive income from this. If you don’t have something you think you can make, it is OK. You can still make passive income and from the comfort of your home. Keep reading and you will find how to make passive income.
Who did already make passive income?
- Well, Most of the gurus and successful businessmen already have a big residual income source because it is actually the real deal. A lot of people talked recently about network marketing and that it is good. I would say make passive income instead because it is much better and more profiting.
- Celebrities already have a residual income stream from videos they publish on YouTube. Actually, celebrities are making residual income nearly from all of their activities.
Now, I want to talk about few specific ways to make your passive income
Make a video and share on YouTube
- This will need few things to get it done. You will need an Adsense account. Then, the idea of the video you will make and that’s the great part. You can make a video for anything you like. You can make a video for your favorite celebrity making whatever. Or, collecting the top 10 of anything.
- You can rank anything from your point of view and make a video and upload it to YouTube. It will be great if you could be cool and funny in these videos.
- You can even make a slideshow on YouTube now. So, just grab some photos and make your first YouTube video without any needed experience.
There are some important points you must consider before using YouTube method
- Be aware of copy rights and use free content as raw materials.
- Be funny and cool.
- Think of the viewers and try to entertain them.
- Use recent big events to your advantage.
Build your own website
- This is one more great way to build a residual income. Just think about something you like and have experience in and build a website about it. This is known as niche website.
- Then, put Adsense ads on your website after writing some good content and also promote related products to your websites niche.
I would like to state important points here too
- Again, the copy rights 🙂
- Try to make your articles long “more than 1000 words” , entertaining and interesting.
- Think about your readers while writing.
- Join a good community to get help and I would recommend Wealthy Affiliate for this
Promote a recurrent payment product
- This is the path you can take if you can’t do the first two things, which I don’t see any difficulties in. There are a lot of products and services available online you can promote.
- So, go check affiliate networks like ClickBank for products with recurrent payments and promote them
My secret soup here is 🙂
- Only promote good products that will really help the customer.
- Bad products will get you one payment at most and will make your untrusted marketer who is chasing commissions.
- That’s why I would recommend one of the best products online with recurrent commissions “The Wealthy Affiliate – Ta-daaa” 🙂
Now, I ask you to make a detailed Google search for ways to make passive income and you will find so many ideas and you can make it happen. I am dead sure about it. Good luck
There is a good reason for recommending Wealthy Affiliate. Wealthy Affiliate will teach you how to build your favorite niche website and give you the host in the same time with the opportunity to get recurrent monthly commissions even if you were a free member. This website is a result of Wealthy Affiliate courses and services.
I hope to see you soon at Wealthy Affiliate community.