How to Create Passive Income Online
As you’ve no doubt noticed, passive income is a major part of my wealth building strategy. Passive income in general is one of the best forms of leverage available, especially for someone with limited resources to start with. Online passive income is where the real magic is, however, as the potential for leverage is all but unlimited.
Creating Passive Income Online
Many people think that to build wealth online, you need strong technical acumen, along with serious marketing skills, and you need to build up a huge site that gets millions of visitors. The truth is that none of these is necessary, and shooting for massive traffic is rarely the right decision, at least at the outset. I prefer a different approach.
The early stages of the game are all about thinking small. That’s a good thing – it’s easier to have confidence in yourself and stick with it when your goals are modest. However, I personally believe that the entire game can be played by thinking small. In fact, that’s precisely what I intend to do.
How to Get Rich Off Pennies
I’m sure you’ve seen about a million ads and sites proclaiming near-instant wealth online. Most any regular Internet denizen has to be pretty jaded at this point. But set aside all that breathless marketing language about making millions overnight. Instead, ask yourself this: Do you think you can make a site that earns $1 per day, on average?
That seems attainable, right? You don’t need a lot of traffic to reach that goal. A few tens of visitors a day will often be sufficient to earn that much from Adsense. If you do affiliate promotion, you may need even less.
The truth is that most anyone can build a site in a day or two that will likely end up bringing in $1 a day in revenue. All that is required is for you learn a few simple techniques and put them into action. (More details on these soon.)
The Magic of the Passive Income Business
So if you can make a single $1-per-day site in a day or two, what’s there to stop you from making a hundred? Answer: Nothing at all. Just repeat the process a hundred times. It may take several months, but so what? If you own a hundred of these sites, you’ll be pulling in $100 a day, which is a passive income of $36,500. Who couldn’t use that?
And of course if you can make one hundred, then why not three hundred? This may take a couple of years, but again, so what? $300 a day equates to over $110,000 a year. Imagine if you earned a six-figure passive income online. Imagine the freedom and independence that would bring.
You may now begin to see the seeds of my plan to earn a million dollars . Build a site, collect the income, and reinvest it in more sites. My first is already up, and I have the funds for at least two more. The snowball is rolling…
So why isn’t your first site up yet?
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