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6 Easy Methods To Make Passive Income Online
Introduction: what is passive income?
Many like me wants to improve the standard of living. The actual salary earned do not meet expectations. Other sources of income can help improve the standard of living. Such incomes on rents, interests on a savings account and deposit accounts are derived passively. It is the money invested in that does the actual work.
The money invested in savings and deposit accounts is like a product. It continues to sell and profit month after months for years. The profit realized is called passive income.
Here is one of many best definition of passive income:"Earnings an individual derives from a rental property, limited partnership or other enterprises in which he or she is not actively involved..."
Passive income is sometimes interchangeable with residual income.
Making smart passive income online can improve your living standard
I create a product at a cost of $500 and recovers the cost in a month. The same product still sells in the market for months and years. The next line of income realized say, $800 after recapping the $500 is called passive income. If I continued to make more than $800 monthly, year after year, it is still active passive income. This is the concept on which passive income is well understanding.
So you want to make passive income on the internet?
How you will learn to earn passive income matters much. It can help improve your standard of living. It can cushion the effect of waiting for that retirement benefit or as a means of financial freedom.
But what is passive income? Let us understand this in very clear terms. I do not think a definition or statement made above has made it easy.
Let's say, you buy a house for $30,000.00. And you rent out the house for $5,000.00 a year. After 6 years, the actual cost is realized. Any money coming in year after year is real-time passive income.
So, passive income is the money you continue to get after the $30,000.00 is realized.
With a laptop passive income can be realized
Work at home
You can work at home at your convenience. But you are not confirm to the living room alone. With a Laptop or Notebook, your location is now global.
Any where promising for you is practically your location!
You are not confirm to the living room alone.
Does doing business online to make passive income required the comfort of the living Room alone?
Are you confined to the living room to make passive income?
Making passive income online
How to make passive income nowadays on the internet is easy. It has helped many an unemployed person to be self-employed. This is why the internet is so vital these days. It is being harnessed more toward small home-based businesses or work at home. Again, many of the offline firms are now getting online they products and service; and are even looking for partners or affiliates to promote their wares.
Making internet income online is achievable. But first, get the training or mentoring.
Do you know how to gather, assembled and market your ware? What are your target market, or audience, or niche? Are they boys or girls age 12-18,? Or men and women of 26-45 years? Is your product directed to a specific issue say bodybuilding, or cookery, or how to make money on the internet?
Learn all that you can about the subject or niche.
Read to be inform yourself how make passive income online
Do you read to inform yourself? Do you read to advance your knowledge and understanding of the issues at hand? I will not move on any technical issue here but one must read and read widely.
They say readers are leaders.
I read to see what others authors are saying on this subject of passive income before I put pen to paper. I noted the competition. I note the challenge presently and ahead; and yet I went ahead to write on this ever wide and saturated field.
This is why I and you should read. You will do yourself a lot of good if you read other related stories on this subject. Read all that you can about other practical online ways to make passive income online.
Above all, add any experience you may have, however, small. This makes it a practical reality. I am a homeowner and I rent my rooms and make passive income.
Practical ways to make smart passive income
Join affiliate programs online
Are you ready to join the bandwagon? Join any one of these very successful businesses online as an affiliate.
By far, one of the best ways to start earning passive income is to go online and become an affiliate. Here you help promote the products of others or you refer your friends or recruits and earn a commission. This may be for life as your referrals continue with the program because any sales generated, you receive a certain percentage as your commission.
Again you will learn that you are being directly mentored. You earn as you learn. You can run your online business besides this to receive additional streams of extra-internet-income.
By far, one of the best online affiliate programs is Strong Future International, SFI. Join here to begin to earn. Learn and make sales, and make passive income for life http://www.sfi4.com/12714792/FREE
And, what about Amazon associate? Join and promote sales and you smile to the bank.
Passive income earnings
Becoming an affiliate online to make money is good. It all depends on your ability, determination, and hard work.
Making money online, you must combine both mindsets of determination and hard work. It is easy when you pass the reason for and against. It is hard because you have to work long hours before you see that real income bankroll into your bank account. You have to be focused, work hard and make headway. The result of this pays well in personal and financial freedom.
If you join as an affiliate, you are entitled to earn money plus commissions in certain cases.This can be anything from 20%. The commission will depend on sales generated (purchases) or referral you made, or duplication you generated.
When you refer people to buy something online, you will receive a commission for whatever they buy.
Let's do a basic math for earnings to be expected. For one sale or referral, you made online say it is $30 just for a day. 20% of this is 20/100 x $30 which is $6.
Suppose you make five sales or referral in a day, this is 5 x 6=$30. And as long as your referral continue to make purchases, you continue to receive commissions.
So, for five referrals you made in a day, your commission is $30.
The more you refer or more sales, the more your commission. This is the essence of an affiliate program in earning passive income.
Weekly referral and earnings for affiliates
Create your world by earning passive income in dollars
Qualifications that will favor you to make passive income online
Do making passive income online required any qualification? Do one has to be qualified as a computer operator? No, but learning the practical basic or fundamental principles is essential. The ability to read and write is basic to all internet marketers, story or article writers. An additional qualification like a degree or diploma may make one an expert on a technical point. Also, you must know how to operate the computer keyboard. That is all that is needed initially. I am not saying that you should be a computer guru.or an academician. No. Majority of these professionals cannot and has not made a dine on the net! They can if willing to do so. I am unable to type or operate the computer keyboard for years. But just to make headway on the internet, and make some internet money, I went for a three months instructive course. I benefit. So you too can do it.
Many academicians can apply they knowledge online in form of article writing to inform the reading public.
Computer training to earn passive income
Know how to operate the computer keyboard to make income online
A mini computer notebook is a mobile tool
Multiple streams of passive income
You can not get on just one path to make a smart passive income that can meet all your monetary needs. Do the regular income you get from your monthly pay solve this issue? The answer is a firm no. This is also applicable to passive income.
Every internet marketer knows this. So we strive to get at least two more ways to strike the gold.
Take this article as an example of how one could make money more than one way out of it. The first is that it is an article. It will be published. And it will earn some income. Two, this hub can be modified to make an e-book. If successful, earn some money. Three, we can produce the e-book in the form of a CD or DVD disc. More money comes in. We can make the hub a teaching material at a seminar, workshop or webinar. Still, more money will come from this effort. These various pathways create multiple streams of passive income all from one source, an article.
Whatever ways you want to make some bucks online, make sure you snowball into multiple streams of passive income goal.
The concept of the experts
I am compelled to make an abstract on what many of the experts on this subject have opined so far. I call this path to make a fortune.
Passive income: how to earn more and work less-From Scott Allen.
Copy and paste the link: "entrepreneurs.about.com/od/gettingstarted/a/passiveincome.htm"
- Work at your job and use some of your hard earned money to buy assets that will yield passive income for you.
- Create a product that people will buy over and over again..
- Engage affiliates to sell your products.
- Taxes on passive income is less than on active income or none at all.
- How could you make money off the works of others? In other words, you have to promote affiliate program online to make money.
What another experts opined
Various other experts have the varied opinion on the subject of passive income. I will again give an abstract and I suggest that you visit the link to learn more.
How to retire early by building residual income: 6 Steps
1. Live below your means (restrict your budget to things that will keep you to your longtime goals.
2. Maintain an emergency savings account of six months income.
3. Invest extra money in savings plan if any.
4. Your increase from a rise in your job should be split into two: one half goes for fun and the other half for savings.
5. Any other extra money should be invested in at least more than two portfolios.
6. Your portfolios should be review annually with a chance to move forward.
With all these in mind, smart move and hard work pay in the long run.
Dollars earn as a passive income gives you financial freedom
Smart passive income methods
So far, what are the smart and cool practical blueprints to making passive income on the internet?
Method number one: have a computer or a laptop. Do you have a computer? Any person desiring to make passive income on the net must have a good personal computer. Windows 7 is a common device. However, right there in the markets are numerous PC for one's like or choice. Ensure that your PC is internet ready type, otherwise, you just end up with a game playing tool in your hands!
A mini computer notebook mobile for making passive income
Out there the market stocks various brand of laptops
Active internet connection
Method number two: Have an active internet connection. To have a PC is one thing and to have an active internet connection is another. You must have an active internet connection with one of the telecommunication networks or internet service providers in your locality. Your internet service provider may be able to advise you on the type of package available. I advise you go for the optimum or premium package if you can afford it, for you are likely to download some internet training manuals, software up to 300MB. Some Government Information, Communication and Technology Agencies, coffee shops, airports, etc provide free internet access facilities to the public. One can take advantage of this and I do regularly to save money from private ISP. But beware that you do not compromise your mailbox password, banking ID, and password and other personal identities to online theft.
A laptop publicly connect to the tnternet
A laptop connect to the internet with USB modem
Find your niche market
Method number three: find your niche market. What do you want to do online to make passive income? That is your niche market. Do you want to write articles? Do you want to write e-books? Can you write an article of 1750 words or more? Writing an article of 2000 words or more that is acceptable for publication on major websites like Yahoo!, Hub pages, etc will earn you regular passive income. Still, you do not know what to do? Do not worry. There are many niche markets out there on the net like the sands on a seashore! or you can create one that suits you. For example, an online photo agency.
Take banking account online
Method number four: take your banking account online. Do you have a banking account online? My initial experience with this is terrific because I could not afford to make payment online as an internet marketer. On advise, I contact a good local bank that helps me remit payment online. Banks with a Master Card compliance are excellent for this purpose. The account must be geared toward making payment online for global benefit.You as an internet marketer likely to make payment online; and be paid.
Have have a mentor
Method number five: Have a mentor. No one just come new to the internet market to make some passive income will strike it big. Those internet marketers who promise you will make $1000 to $1500 overnight will scam you. You are asked to pay $25 for membership and later or immediately you will be asked for another sum of money for the professional or elite class of the site. Neither the goods or service will come or not. It is after you are thoroughly mentored that you will begin to make headway in earning your first dollar and not $1000 as promised. Your mentor guides you until you become proficient. It depends on the niche you take. Is it e-book or information marketing? Could you like to be an affiliate selling other peoples products and earning some percentages of the money generated? It is up to you to decide.
Go here for it:
Internet mentor training
Start to be creative
Method number six: start to be creative. Start writing your article or hub. There are many websites to choose and go for this. HubPages is an example. Yahoo! contributor is another. Not long ago, Squidoo is merged with HubPages and transfer of articles has already begun September 2014.
Or you can create any marketing venture other than writing to earn passive income. That is up to you. How about a blog or advertising website? When advertisement like Google AdSense placed on your blog is clicked, you earn money passively.
First, register as a user of a website (HubPages) or create a blog
- Visit www.hubpages.com on your internet Google or FireFox browser.
- On the window that appears, click the Join button.
- A new window shows up and you will be asked for:
- Your name or username, e-mail address, password and confirmation of password by re-typing it, agreeing to the hubpages term of service and entering the turning or security number or code in the captcha button.
- Click continue and you will be taken to complete the registration process.
That is all that there is to it.
Study learning resources of article writings
Secondly, study the rules of the article writing, especially that of the particular website you are to submit your story. Each website has its own requirements. HubPages has its customized tools, instructions, etc for writing hubs of any category; and you have got to stick to that. Study and follow these rules and you will succeed.
Third, choice an interesting topic to write. Is it an experience unique to you that you want to share with the outside world? Is it a hobby? The topic you choose must be interesting and passionate for you to write. Just let it be interesting, informative and enlightening and a guide or reference point.
Here is a simple guide on how to plan for your article:
- Abstract: this is a summary of what the article is all about. hub pages always ask for this.
- Introduction: a brief of what is to expect in the story.
- Body with sub-theme: this is the main part of the story. Flesh, blood, and bone. Be very specific.
- Conclusion: round up your story. Engage the reader by a call for action.
- Reference: try to include a reference for your readers to consult.
Do your best here.
All these expert opinions called for creativity. I will conclude by saying:
- Making passive income online is not an overnight and get rich quick venture.
- It demands the best and the highest actions for a long time effect.
- It calls for a strong intellectual effort and inputs e.g. writing a song, an article, film acting, networking, and internet marketing.
- Real estate ventures required a significant sum of money and this has to be raised as a loan or from log time savings.
- Partnership in passive income ventures is risky, but resourceful and trustful affiliates can enhance the venture.
- Success is achievable with long working hours and hard work.
- The longtime effect is financial and personal freedom to do other things- more passive income ventures and leisure.
© 2013 Miebakagh Fiberesima