Passive income is indeed a wonderful thing. In fact many people are glad that they understand what it is and strive to pursue as much of these passive income as possible. The main reason is that Passive income can get you close to the freedom that everyone wants. So what exactly is a passive income? In short passive income is the kind of income that pays you over and over again just for working one time or for less work. A good example of this kind of income is selling insurance policies. When you sell an insurance policy, it will continue to pay you over and over again as long as the buyer continues to pay for their insurance premium on time.
Another good example of a passive income is what we see in some of those MLM plans
where you will get enough down lines in under them and get paid automatically for a long time. While selling insurance and working your MLM business is a very good passive income source, we need to understand that it isn’t meant for everyone especially when it comes to selling in real life. This is why many people have taken to the internet in search for passive income online.
So the question is… are there any passive income to be found online? The quick and precise answer would be yes. There are many ways to earn passive income online and the good thing is this… you’ll never have to cold call anyone, you’ll never have to go face to face selling to anyone. It’s amazing and frankly is sounds too good to be true. This is why some MLM companies actually move their marketing business from offline to online. That’s right, there are MLM companies in the online world and you can actually join them for a good passive income. However, one will have to be careful and do their research before joining an online MLM program online. There are many scams online and there are of course legit offers online as well. Perhaps one of the weaknesses for online MLM is that the training provided isn’t as good as some of those offline MLM companies.
However there are many other ways to earn a passive income online besides MLM products. The best thing about Passive income is definitely in the freedom that comes together with success. Making money with a day job will never give you the freedom that you want. You are stuck in a 9-5 working hour until you retire. With enough passive income, you could retire early or go on a vacation anytime you want and you will still earn money every day from your passive income efforts.
Take some of those Clickbank merchants for example. When those merchants have a strong army of affiliates that sell for them, they are practically financially free. They won’t even have to work for more traffic; instead their affiliates will continue to make money for them while they do nothing or go on a long vacation. That is freedom with money we are talking about and that’s the true power of a system that can generate money for you endlessly without you having to lift a finger.
Make more money with passive income.
Another argument that people would talk about when it comes to passive income is that if you are stacking up your passive income sources, you will make more money that any career climber can ever hope for and you will earn more money than some business entrepreneurs.
Why is this? Let me explain.
You will make more money from these two kinds of people because… for example, with one passive income stream you are making Rs 2k a month, but with the extra time that you get (because of passive income does not take too much of your time when it is up and running by itself) you will be able to go out and set up even more passive income streams.
Imagine stacking 5 or 10 of different passive income streams… your cash and income will just grow exponentially while day job chasers will be limited to their rank and promotions while most business owners will hit a limit eventually unless they learn to expand their business, free their own time and outsource their work.
How else can you earn a passive income online?
Well so far we know that there’s MLM online and you can create a hit product and get an army of affiliate to promote your products. Another great way to earn a good passive income is to actually promote affiliate products that pay a recurring commission. For example, if you are promoting for auto responder software, with every referral you will get paid every single month until they cancels. This means you work to get one auto responder buyer and you get paid for a very long time. It is pretty much like selling insurance policies in this case where each policy that you sell will get you money every month.
Yet another great way to earn a passive income would be to create soft wares that everyone will want to use but charge them an affordable monthly fee. However, you need to make sure that your software is unique and not easily duplicable so that people will not steal your idea and sell it for a one-time fee instead. If you are able to create such software, all you need to do next is to focus on building your members and you will be financially free in no time.
Of course, all of these sound really easy on paper, but in actual fact, it does take a lot of work and effort for it to become a reality. Hence make sure that you set your goals and plans right and work today’s your financial freedom. Always stay focused and make sure to ignore all distractions… why would you want to get distracted from a path of passive income where freedom awaits right?
Mohan is the Founder and CEO of Bigthinkers.in, a unique market research company by which, Any individual, opportunity seekers or small business owners can learn how to build their businesses with the latest marketing strategies with advanced technologies to leverage their income and create a more profitable business.