Passive income creation is often defined as the ways and
means of earning income without having to really work for it, and which
does not require any effort on your part.
I personally would not endorse that passive income definition wholeheartedly.
The truth is, unless you inherit your fortune or win the lottery, there is usually some type of initial investment involved in creating and generating a passive income.
You will most likely need to invest your time or your money up front in order to lay the foundation for a lasting passive income stream.
Sometimes you need to invest both!
I would prefer to define passive income creation more along the lines of doing the work (or investing the money) once, and being paid for it over and over and over again.
With a regular job, you work for a set number of hours and receive a set wage for those hours worked. Occasionally you may receive a bonus or extra benefit, but pretty much if you don't continue to work, you don't continue to get paid.
With passive income creation, you can work and get paid repeatedly without repeating the work. I guess you could compare it to an author who writes a book and then gets paid every time it is sold, reprinted, etc.
For most people, passive income is generally a supplement they want to add to their main income earned through hard work and pursuit of a profession.
I have a few friends that have taken their earned income and invested it in real estate. Their rental income creates a positive cash flow and could be classified as passive income creation.
Those are just a couple of passive income examples to help you get the idea of what I'm talking about when I refer to passive income creation.
Don't be fooled by the numerous claims of "get rich quick" or "make money fast" that you see cropping up more and more these days on both paid TV ads and internet marketing. There is still no fast road to riches, no matter how much we would like there to be.
However, there ARE some genuine methods that can be followed to create a passive income for you and the future financial security of your family if you are willing to put forth the initial effort or investment required.
If you already have an offline small business, you are ideally suited and positioned to make a small investment to maximize your earning potential by bringing your business online. That's the first step to passive income creation.
A small business website is the best way to provide more complete information to potential customers or clients, both locally and globally. It also allows you to popularize your products and services in a way you would never be able to do offline.
A good business website opens many doors for you, beyond increasing your sales or expanding your client base. It provides you with an avenue to implement various passive income opportunities that your offline business could not hope to achieve.
Using a website business building package like SBI you can build a strong small website that will perfectly position you to implement some of the best passive income ideas currently available.
If you'd rather invest your money than your time, one of the Sitesell Services Specialists will set it up for you, to your own specifications.
While there are various ways to create some passive income online (like taking and selling images to those who are needing stock photos), I think the best long term idea for passive income creation is by building your own theme-based content-rich website.
Yes, it is a lot of work upfront, but once you have an established high quality website, there really are several ways that your website can bring you passive online income without requiring you to constantly be "working" at it.
Apart from selling your own products (hard goods) or services, these are some of the easiest methods of generating passive income from your website:
These are just some of the most popular passive income examples that are available online for small business owners or those who are just interested in getting started.
The foundation for developing passive income successfully is a content rich theme based website targeting a specific niche topic.
Sitesell's Solo Build It program can provide the perfect way for the small business owner to enhance their earnings without drifting away from the core business, but it also is ideal for someone who was like me and just starting out without a clue how to make money online but eager to learn and willing to work.
I put a lot of effort in initially, but now I can go for weeks and even months at a time putting in little or no effort and still have a steady stream of passive income flowing in to help us with our mission work and personal needs. What a blessing!
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