I’ve been writing about this since around 2006 or 2007 and I have a monthly article about “alternative income”, which is what I consider blogging. You could say it’s another term for “50% passive.” No one would confuse it with collecting dividends from a dividend ETF, but at the same time, you can take a week off and still earn a certain percentage or baseline of what you may earn if you wrote actively.
I’m feeling inspired! I’ve been a PT for 19 years and I feel I have so much experience to offer but have been so intimated by starting a blog. I also subscribed to Michelle’s website but wasn’t sure it was for real. Is it for real? After reading this I feel like it’s time to take the plunge, I need to start a blog, I have so many ideas and even course ideas. I want to get away from the paperwork that plagues our healthcare system but not leave the field so the blog just might be the answer. I’ve been a landlord for 15 years now, great investment for sure, renters paid for the down payment of our house and should hopefully help pay for our kids college. I’d love to have one more! Thank you for the inspiration, wish me luck with my blogging!
Speaking of audience, there’s a lot more I can do here. I can create an email list for buyers to join, and I can also publish other books and attempt to cross sell. I decided not to because I don’t want to do more in the college admissions business. The best resources are free and I’ve routinely turned down offers for college consulting or essay review because I don’t think I’ll be adding much value there.
You can publish a book in two forms: paperback and e-book. E-books are much easier to get published, and they’re wildly popular these days. They’re also convenient for the reader. After writing an e-book, all you have to do is set up an account on a seller, like Amazon or Nookpress, and start promoting your book! Here is a simple guide on getting your e-book published. As I mentioned before, if you already have an audience, such as on a website, that’s the best place to promote your e-book. This article will also explain how to set up a website.
Residual income is income that a person continues to make after the work he has put into a project has been completed. Residual income is different from linear income in that linear income refers to someone’s salary. Salaries are paid based on the number of hours someone works in the present, rather than the royalties someone can earn on work that was done in the past. To explore this concept, consider the following residual income definition.
In my case, I tried leaving the site in “automatic” mode a few times, when I did not have the motivation to post anything new. I found that my traffic, then my revenue, quickly tanked to half of what it should be. So far this has been motivation enough for me to keep writing, when nothing else would keep me motivated. But I have no reason to believe the “passive” part of the revenue would last more than one year. I can imagine revenue progressively going down, until it does not even pay for the server costs anymore.
You are a perfect example of what education can co-create Jon; and you wouldn’t be the person you are or the writer you are if you hadn’t paid attention and learned from great thinkers, writers, poets, and rhetoricians. They have shaped your soul, and it shines through your writing. Lots of people manage business and income — active and passive — but few do it with your educated brilliance.
When you read Russell's new book. You will be amazed at how simple and effective his strategies are. It's like mining for gold nuggets and your striking it rich in any direction you swing! Every chapter gets you one step closer to burning bridge to your old marketing and sales ways. Expert Secrets sent me down a path in story telling and branding I didn't expect to pursue.
Another way to add a course to your WordPress site is LearnDash. This full-fledged learning management system (LMS) offers tons of features for setting up any kind of online class you can imagine. Create certificates of completion for your students or run your class based on a point system. Offer multi-tier courses complete with topics, quizzes, and more. Leave comments on and approve submitted assignments. too.
As you can see, I linked the word PDF with a tool that could help readers if they had the same problems, thus giving them a way for them to solve the same problem if they had it, while earning money from their downloads and in-app purchases. I haven’t actually placed my referral link as this is an educational article, but the principle is the same. That link doesn’t have to be an app, it can also be a page on Amazon, or a link towards some other online store that offers commission for affiliated sales.
If Uber was a thing in my country I would do this every day as you can earn enormous amounts of money just by driving other people to work and back home, while doing the same thing for yourself. This can turn out to be a fun experiment as it will bring you money, and you will have people in your car keeping you accompanied on your way to work and back home. It’s like a school bus, but better!
For those who prefer a more do-it-yourself style but still want their investments to be managed automatically, a robo-advisor like Betterment may be better suited. After completing an initial questionnaire, this program will automatically invest your money based on things like your risk tolerance and time horizon. They’ll even rebalance your portfolio when necessary – all automatically, of course!
Those who can reap the benefits of residual income have typically put in an immense amount of effort and time in the beginning to be able to enjoy the rewards later on. Residual income, therefore, does not result in instant gratification. Those interested in earning residual income must have a lot of patience and determination to work as hard as necessary to achieve their ultimate goals of a long-standing income stream.
However, residual income typically has an expiration date, especially if it is being earned through a business. Effort must be continuously put into the business in order for someone to continue to receive residual income. Businesses must continue to market themselves in order to remain relevant. The best way to look at residual income in this sense is that it is a part-time job that earns full-time income.
I would consider it 50% passive because the portion that generates money from ads occurs at any time. I guess you could also view it as an upfront time investment, but now that you have a following, I’d imagine a lot of the passive portion of the earnings would still come through viewers even if you decided to take some time off blogging! Reading some of the comments here though (traffic dropoff), I guess it is less passive than 50%.
With that though, if we work smarter and not hard we can reap the benefits of someone else’s hard work and buy an already built online business that is earning passive income. Which is what I started to do and it worked for me. Sure I had to research and learn how to buy an online business and there is a slight bit of maintenance needed for each site but it too can be outsourced. Meaning if you really want to you can earn passive income and sit back on the beach. Actually right now as I type I am in Mexico, by the beach and surfing everyday. I don’t tell you this to brag, I tell you all this because you are right. Building a business, any business is hard! Buying one isn’t super easy either, but you can do it and you can earn passive income with very little work, you just need to work smarter and not hard.
Domain names cannot be replicated. If one is taken, the only recourse would be to approach the owner to discuss a sale. While there are other variations you could choose, sometimes owning a certain domain (especially if it is attached to your business) can be worth the premium. Often, people will scout out domain names that are still available, buy them, and then sit on them in order to sell them down the road. Depending on who may want the domain down the road, you could sell it for a large markup.
You know the fantasy: write some ebook (or better yet, hire freelancers in Mumbai to research and write it for you at $.20/word!) on some niche topic, set up AdWords and Facebook campaigns targeted to the right keywords (you can hire those Mumbai guys to do your keyword research too), put up a cheap landing page (with copy written by... guess who!), press "Go!" on the PPC campaign, and voilà. . . just wait for the money to roll in while you sleep!