Great article, Joe! I’ve thought about this a lot…whether blogging is passive or not. By definition, it probably isn’t (since the income goes away if you stop), but it FEELS passive. “feels”. Ew. Feelings. Blegh. Anyhoo…even if it isn’t passive, I can’t stop doing it because I love it so much. So if you like writing and interaction with readers, it seems passive, but to anyone else, they’ll have to put in a lot of work for very little gain, so it seems VERY active.
If your research really does determine that there is some amazing market niche that until now has miraculously gone unnoticed and unserved---dog owners who wish to help their dogs lose weight naturally, for example---sooner or later, word is going to get out that there's money to be made there, and someone is going to create a better ebook or info course or product that serves that market's needs better than yours does, and who markets it better to them than you do. You can't manage this competition while sipping margaritas all day from your paradise restaurant on Fiji. You'll soon see your market share go down the drain---just like all those Açai cleanses. . .
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.
I have posts that are heavily linked to Amazon and some that aren’t to keep things balanced out. My heavily linked posts are product guides or stuff I was searching for my kids. Some examples are: Non-toxic high chair, 20 non-toxic teething toys, and Gift for 2-3 year olds. My blog is “green” so a lot of my posts are about non-toxic products since this is what I personally look for.
Yeah, entrepreneurship is definitely not a defined path that can be summed up in one book. I think it’s mostly about having the right mindset and determination/hustle. That’s why I love listening to and watching Gary Vaynerchuk. I think an easy one to start with is “Start Something That Matters.” The right mix of inspiration, motivation, and instruction. Plus I’m just a big fan of the shoes and company. Let me know what you think.