How To Create Passive Income And Make Money Online
- Author Matthew Connors
- Published February 28, 2009
- Word count 658
Most people wanting to make money online easily make a bit of short term money using any one of the many well known and promoted methods out there. The problem is nearly all these methods for making fast money online require you to work and keep working to make the money and the moment you stop work, the income stops.
The skill of creating a long term passive income stream well after your work stops should always be your goal in setting up online businesses. To create long term passive incomes takes a lot more initial work then quick cash, however the rewards are at the tail end when the income continues to roll in for many years after you created it.
To create passive income you need to be able to resist the need for quick easy money now and immediate gratification. Building online business that makes money on autopilot is a bit like creating a slow moving snowball.
The income starts out very slow and small, but over time as you continually add more promotional material and income streams, and as you network with other websites and find more efficient strategies the income begins to grow and grow.
As you become more and more skilled the new projects become significantly more profitable then your original efforts. Each time you add a new income source and promotional methods the passive income compounds on top of the money already coming in from previous efforts.
The best internet business operators are fully prepared to delay gratification by promoting products that have low upfront costs to their customer but involve recurring billing through memberships or subscriptions. A good example of how this works is that you may only sell 5 memberships in month 1 at $20 and receive $100, but if you then sell 7 memberships in month 2, you will receive $140 + $100 from recurring billing of first months memberships.
In the example the 2nd years income would be significantly larger then the first due to the compounding effect. Then imagine duplicate this process over and over selling new products or memberships. This is known as compounding income streams and for me this is the key to a very successful online business.
When creating most new online businesses, new-comers jump straight on to Google adWords and use Pay Per Click adWords to generate huge traffic and fast. Google adWords are extremely an effective tool, however, it is also a very expensive method of promotion and the problem is adWords stop the moment you stop paying for them.
The other problem with only using adWords for new and small internet businesses is that the cost can dramatically impact on the profitability, especially for new internet marketers who don’t know how to market using adWords properly. This places your competitors at an extreme advantage over you.
Instead there are numerous free methods of diving huge traffic to your website, they do take some time to set up correctly, however, once they are setup they will drive traffic to your website for a very long time. These methods include article marketing, joint ventures, blogging, linking, book marking and many others.
These promotional methods are termed evergreen marketing. Once they are set up and established, they are just like an evergreen tree, in that they branch out bigger and bigger over time and remain working in some cases forever.
If you use evergreen marketing you must promote products or be in niche markets that have medium to longer term viability. For example, "How to toilet train a toddler" is a market that will remain viable over the long term. However – "Playstation 2" has a limited time frame that the product is viable. In this case a mixture of evergreen and instant marketing is necessary. In the case of marketing a late release Movie or DVD evergreen marketing would be completely useless, as by the time the marketing started to work the product would be almost obsolete.
Here’s To Your Success.
I have successfully created a recession proof passive income. Want To Know How?
Go Now To: http://www.autoincometoday.com/future1.html
Or see it on Squidoo at http://www.squidoo.com/autoincometoday
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Why Is Interior Painting so Expensive?
- How Can Home Insulation Reduce Energy Bills?
- 5 Profitable Tech Niche Markets for Online Profitability
- Overcoming Bidding Wars to Win-Win Agreements in Real Estate Negotiations
- Essential Considerations for Effective Garage Door Repair: Insights from Kiki Garage Door
- Securing Your Home with Expertise: Believe in Kiki Garage Door for First-Rate Garage Door Fixing in Mercer Island.
- Unleashing the Power of Hashtag Generator YouTube
- How to Start A Online Business?
- The Dark Side of Smart Machines: When AIs Turn Against Us
- A Step-by-Step Guide to Installing a Container Shelter
- A Complete Roadmap to End of Lease Cleaning: An A-Z Guide
- The Psychology of Wardrobe Organization: Reducing Stress and Enhancing Daily Routines
- Top-Rated Painting Contractor Lincoln, NE - Quality Workmanship
- Russell Brunson’s Secrets of Success Review: Unlocking Affiliate Opportunities
- Luxury Property Refurbishment in London: Creating Opulent Spaces
- Navigating the Kansas City Real Estate Market: Your Comprehensive Guide to a Successful Home Sale
- Enhancing Quality of Life: Non-Emergency Wheelchair Bound Transportation for Dialysis Patients in Houston, Texas
- Efficiency Starts with Cleanliness: Streamline Your Operations with Auckland's Top Cleaning Services
- Investors Drop Box vs. Traditional MLS Listings: The Future of Real Estate Investing
- Hire Shopify Store Manager Online Services with www.shopifystoremanager.com
- Work From Home Opportunities
- Understanding Free Inspection and Estimate from a Roofing Company
- Roadmap to Riches Review
- "Man and Van vs. Traditional Movers: Choosing the Best Moving Service in Manchester"
- Impact of fashion: Embracing Natural Beauty in World Fashion's 2023 Trends
- How to Choose the Perfect Home-Based Business for You
- How to grow your Social Media profiles
- Navigating business in a high-growth emerging market
- Knowledge, Innovation & Digitalization in a Global World
- How to Build Long-Lasting Concrete Garden Beds with Ease Using BedBlock Concrete Mold