You probably already have an answer for the first question - "how do I earn more than my boss?" But what if we told you that it's not so hard and all you need is some determination, motivation and persistence to follow through on your plans...
In this article, we'll show you step-by-step instructions on how to create a passive income stream online and start earning consistent cash flow while working at home full time. And best of all, there are no limits! You may want to consider outsourcing certain tasks as well if you're really struggling with getting started.
As you will see below, once things get rolling, they tend to take off pretty quickly. If you've been searching for ways to build an extra monthly income but haven't had much success yet, then keep reading. We might just change everything for you.
But first, let's talk about why building a residual income is such a big deal. What happens when you work 40+ years for someone else only to retire with half their earnings? Not many people ever accomplish anything close to doing nothing after retirement. In fact, most end up going back into debt or starting another job right away due to lack of savings.
Residual Income vs Immediate Cash Flow
The key difference between these two types of incomes lies in whether the payments come immediately (immediate) or over time (residual). When something comes immediately, you usually don't notice because it always seems like free money. This type of income is very addictive. It allows you to spend without any sense of urgency since you won't be affected by it until later. Unfortunately, this also makes it harder to stop spending altogether.
On the other hand, residual income does not allow you to treat yourself unless you choose to give it up completely. The reason being that unlike immediate cash flows, which tend to vanish within days, residual income lasts indefinitely. Once you realize this benefit, it becomes easier to stick to your goals even during tough times.
Now here's where the magic happens. Let me explain exactly how you can learn to control both forms of income streams simultaneously using proven methods.
Let's assume you currently receive $500 per week via your current employer. That means you'd rather continue receiving $500 every Friday instead of making whatever additional amount you decide each day. How would you go about creating multiple sources of residual income that equal out to almost $5k per week?
If you're wondering how to make thousands of dollars in one hour flat, then you should try learning how to generate massive amounts of traffic to websites. There are several different strategies you can implement to grow your website traffic exponentially, including content marketing, social media, email autoresponders, etc.
However, before delving too deep into those topics, you should familiarize yourself with the following concepts first:
1.) Traffic Generation Strategies
2.) Lead Capture Pages
3.) Video Marketing Tools
4.) Affiliate Programs
Once you understand these four areas better, you'll discover that the rest falls into place quite naturally. For example, if you're interested in affiliate programs, find a niche market related to them. Then set up a lead capture page offering valuable information regarding the products you promote. Build a list of subscribers who opt-in for updates. Now send weekly emails to your leads promoting affiliate products and services.
This simple strategy generates a lot of revenue every year simply because affiliates typically pay 50% commission on sales generated by visitors sent directly from your site. As soon as you master this formula, you could potentially increase your profits by 10x overnight.
To recap: Here's how you can use this method to create a passive source of income:
Create a lead capture page with useful info
Send periodic emails promoting affiliate products
Use videos in your newsletter/emails to attract prospects
Create high quality product offers
Sell ebooks and training materials related to your field
Offer coaching & consulting services to potential clients
And remember, you can easily scale your business whenever you reach certain milestones. Don't worry about trying to run your own company -- focus solely on generating profit for others.
One last thing worth mentioning: While the above steps require little effort upfront, they still take time to develop. Therefore, expect to invest anywhere between 2 months to 1 year to experience steady growth. By staying persistent and determined throughout this process, however, you can eventually overcome obstacles and establish a successful long term residual income plan.
So now you know how to turn your passion into a profitable side hustle, but how do you actually maximize your efforts in order to achieve maximum returns?
Here are three practical tips that helped our team build a $10K passive income stream in less than 30 days:
#1. Focus On One Thing At A Time
When you're overwhelmed by various opportunities coming your way, it's easy to lose sight of what matters most. So pick one opportunity, dedicate 100% of your energy toward it, and forget about everything else temporarily.
After you complete that task successfully, you can apply similar techniques to pursue the next project. However, if you're unable to finish it, put it aside and return to it later. Remember, Rome wasn't built in a day.
#2. Schedule Your Projects Every Day Like Clockwork
Set small achievable targets for each day and mark them down on your calendar. After completing each goal, check off the box and reward yourself accordingly. Soon enough, you'll begin looking forward to your scheduled activities, knowing that they provide you with excellent momentum for future successes.
By taking action consistently and persistently, you can become unstoppable. Just think of the results you'll enjoy once you cross the threshold of breaking past your comfort zone.
#3. Learn To Say NO To Other Opportunities
No matter how tempting they may seem, avoid letting distractions pull you away from your primary objective. Stay focused on accomplishing your mission and stay true to your vision regardless of setbacks. Otherwise, you risk losing track of where you're headed.
For instance, say yes to an offer that complements your existing business model. Maybe you love writing blog posts and articles but feel tired after working on them late nights. Instead of saying yes to freelance gigs, accept invitations to write guest blogs instead.
Your main priority is growing a strong foundation in your chosen industry, not jumping around from gig to gig. Stick to your guns and never compromise your integrity!
Okay, so you've made $10000 in total, but is it possible to break down your income further? Sure, you could technically make $50 per hour if you were willing to sacrifice sleep and eat instant noodles for breakfast everyday. Or maybe you wanted to double your salary overnight. These scenarios sound great but rarely happen in reality.
Instead, you should aim for smaller incremental gains. Break down your initial goal into manageable chunks, preferably under 20 minutes, and celebrate each milestone along the way. Eventually, you'll look back and wonder how you managed to progress so far.
Remember, it takes 21 days to form new habits. Set realistic deadlines for yourself and strive to meet them every single day. Over time, you'll begin feeling comfortable with increasing your hourly rate gradually. Keep pushing boundaries and you'll soon reap rewards beyond your wildest dreams.
I hope you enjoyed this breakdown of how to make thousands of dollars passively. Please share this guide with anyone who's passionate about becoming financially independent and wants to start a part time internet business today. Feel free to contact us anytime if you have questions about this topic.
I don't have the answer for everything, but if there's something that has been bugging me lately it's this question... How do teens and young kids make so much money so quickly these days? (And where did all those rich people get their wealth?) If only they could learn from my secret!
They say "knowledge is power" and I believe it. When I was younger, I used to be broke as hell - literally broke. It wasn't until college when things started looking up for me financially. But even so, I never thought it would happen to ME. And now here I am -- making enough money to live comfortably on an Air Force base in Japan with thousands more coming in every month.
But not everyone starts out like me. Some are born into wealthy families or lucky enough to inherit some cash from parents or grandparents. Many others start off working low-wage jobs just trying to survive day by day. The point is: No matter what your situation may be right now, we're going to look at ways to earn extra income today through various methods.
So let's jump right in. Here are four different opportunities available for anyone who wants to work hard and create passive streams of income. These aren't quick fixes, mind you. They take time and effort. However, the results speak for themselves once you put them into action.
Teens are known to spend their free time watching TV shows, playing games, texting friends, etc. While most of us are guilty of wasting our youth away, one thing remains true -- teenagers still need cash flow. In fact, many teens end up dropping out of high school because they simply can't afford to go anymore. So why not teach them about creating a side business? This way they'll be able to save some money while earning a little bit of pocket cash.
Here are two ideas:
1) Selling stuff online. If you've got Amazon Prime then selling items yourself is pretty easy. Just head over to Fiverr.com and see if you can find someone willing to pay five bucks per item. You'd be surprised at how popular five dollar products sell well. For instance, I recently sold a piece of jewelry worth $15 which took less than 2 minutes. Don't forget shipping costs though. Those add up real quick.
2) Offer your services online. There are hundreds of sites offering freelance gigs such as Elance, Scriptlance, Freelancer, Guru, oDesk, etc. Basically any site that allows freelancers to bid on projects will allow you to offer your skills in exchange for payment via PayPal. You won't become millionaire overnight, but you'll definitely earn a few hundred dollars doing this kind of work.
While getting paid minimum wage might seem tempting sometimes, nothing beats starting your own small business. Not only does running your own company give you complete control over your earnings, but also teaches you valuable lessons about managing finances and growing your assets. Once you reach adulthood, you can pass down your knowledge to other aspiring entrepreneurs.
Nowadays, owning a physical store isn't really feasible due to increasing overhead expenses. Instead, you should consider opening an ecommerce shop. Setting up an online storefront doesn't require too much capital, especially since you can host your website using platforms such as Shopify, BigCommerce, Weebly, Wix, Volusion, etc. Plus you'll receive commissions whenever customers purchase from your online shop. On top of that, you can automate several tasks so that you can focus more on building relationships with clients.
What type of store do YOU want to open? Are you interested in fashion accessories, shoes, books, electronics, toys, makeup, health & beauty products, baby clothes, kitchenware, home decor, wedding dresses, bags, purses, sunglasses, cell phones, laptops, desktops, furniture, car parts, tools & equipment, sports memorabilia, outdoor gear, etc.?
You decide! With the advent of social media marketing software, having a Facebook page and/or Twitter account doesn't cost anything either. All you need is a computer and internet access. You're good to go. A great place to start learning more about setting up an ecommerce site is eBay Academy.
Once you decide on the niche market you wish to serve, the next step is choosing the product(s). Check out Amazon Marketplace for wholesale deals on bulk orders. Or try BizRate to compare prices across multiple vendors. Also check out ClickBank marketplace for digital downloads.
Then use Google AdWords to drive traffic to your website. To set up a campaign, register an account and follow the simple steps shown below.
The fastest way to make money is to leverage technology and services provided by companies. Unfortunately, no one cares about your age when applying for a job nowadays. What matters is whether you can perform certain duties effectively. As long as you meet the requirements and show potential, employers usually overlook applicants' ages.
However, there are still plenty of ways to earn money for 15-year olds without stepping foot outside the house. Nowadays, children as young as 12 years old are being hired as models, actors, spokespeople, mascots, brand ambassadors, event hosts, photographers, artists, writers, editors, etc. The list goes on and on.
Here are three ideas you can explore:
Become a model. Models often prefer people between 18-22 years old. Most agencies expect you to attend casting calls. Afterward, you submit resumes and wait for callbacks. Make sure you choose wisely by checking out Model Mayhem before signing up.
Be an actor. Actors typically need experience performing under pressure. Although acting classes can be beneficial, you can actually land roles without enrolling in formal training programs by joining talent agencies and local theater groups.
Host events. Being a celebrity hostess requires lots of planning, organization and creativity. Be prepared to handle questions from VIP guests, entertainers and staff members. Networking events are another option.
Making money online seems impossible for youngsters. Why? Because it takes a special skill set to succeed. Even seasoned professionals struggle to understand and master technical aspects of affiliate marketing. One common misconception among beginners is that you must invest tons of money in order to build a successful online presence. Truth is, you can launch an effective advertising campaign for as little as $20-$30.
Below are 4 tips that helped me generate 100+ leads within 10 weeks. They worked wonders for me, and hopefully they'll prove useful for you too.
Create content around hot topics. People love reading articles related to current affairs and controversial issues. Write informative pieces based upon your hobbies and interests. Use keyword research tools to discover relevant keywords and phrases. Then write short posts targeting specific audiences. For example, I wrote about 5 best places to buy cheap textbooks for students back in 2013.
Use blogging platform like WordPress. Blogging provides better return on investment compared to article directories. Since readers come directly to your blog instead of search engines, your chances of attracting new subscribers increase dramatically.
Give value beyond promotional materials. Provide quality content for both visitors and future clients. Post original material regularly, and interact with commenters. Letting readers know you truly care about them makes them feel appreciated.
In conclusion, earning extra income is easier than ever thanks to technological advancements. Today, anybody can create his or her own stream of passive income regardless of background. That said, it doesn't hurt to keep exploring different options until you stumble upon the perfect opportunity. Take advantage of free trials offered by each service provider to determine its effectiveness for you personally.
Have you tried any of these strategies? Did they work out for you? Share your thoughts with us in the comments section below.
Do you have the desire to be financially free and live on your own terms? If so, then you'll want to find out how to earn money quickly without having to work for someone else or go into debt to get there. In this article we will discuss ways of making quick cash that are both easy and lucrative. We'll also take a look at some methods that may give you an extra edge if you're willing to put in more effort. Let's jump right in!
The first thing to keep in mind is that it all starts with what you already know. The faster you learn something new, the quicker you'll start earning from multiple sources. For example, let's say you currently run a small e-commerce business selling used books online through Amazon. You've been doing well because most people looking for those kinds of items don't need to visit brick-and-mortar stores anymore. However, as soon as they enter "used book" into the search bar, they see hundreds (if not thousands) of pages full of listings. That means you could stand to double - even triple - your sales just by optimizing your product page to rank higher than similar competitors who sell exactly the same item but use less relevant keywords. This tactic alone would easily add up to thousands of dollars per month. So instead of spending months figuring out which SEO tactics apply best to your niche market, why not simply spend weeks learning about them now while generating leads until you figure everything else out later? It might seem like a long time before you actually see results, but once you're starting to generate traffic and income, you won't care whether it was short amount of time or years spent preparing -- you'll still be extremely happy with where things ended up.
To speed up your ability to gain knowledge, consider enrolling in courses offered by reputable universities, colleges, training centers, mentorships, private tutoring services, local community education classes, professional associations, workshops, seminars, conferences, trade shows, libraries, and yes, online tutorials. Many of these resources offer free access to their premium material, which essentially makes them an excellent resource for beginners. Also, try searching sites like Udemy, Coursera, SkillShare, MasterClass, Khan Academy, MIT OpenCourseWare, Stanford Online Lectures, University Of Pennsylvania, Yale Learning Commons, Harvard Extension School, Cornell NYC Tech Campus, Courant Institute of Mathematical Sciences, Lynda, Envato Tuts+ [No Longer Available]--which offers over 100,000 video lessons covering almost every subject imaginable. These awesome companies often provide special deals and discounts, too, so check around for coupons and promo codes.
This isn't meant to sound overly preachy, but there really aren't enough hours in the day to devote yourself solely to studying. Fortunately, thanks to technology, you can always stay connected and informed by listening to educational podcasts, watching informative TED Talks, subscribing to blogs, signing up for newsletters, following expert bloggers and tweeters on Twitter, checking out various vloggers' channels on YouTube, downloading audiobooks, and researching trending subjects online. The bottom line here is that you should never stop exploring new avenues for growth, no matter how successful you become. As the saying goes: Nothing beats constant progress.
Once you decide on specific areas within Internet Marketing & Business Development that appeal to you, you can begin devoting serious chunks of time to acquiring the necessary skills required to succeed. To be honest, however, this doesn't necessarily mean working overtime. Instead, think of it as taking advantage of the fact that you're already awake during certain parts of the day and putting your newfound knowledge to good use. Nowadays, anyone can make themselves available 24/7, regardless of location. All you need to do is optimize your personal schedule to maximize productivity. Use your downtime wisely and effectively. Don't waste it browsing aimlessly through Facebook, trying to kill 10 minutes before going back to sleep. Take control of your life and realize that success only happens after you've taken action, even if you fail miserably several times along the way. Remember, Rome wasn't built in a day.
Now that we got that part covered, let me ask you this question: What kind of lifestyle do you envision living? How does earning $1000 per week fit into that picture? Will you enjoy being able to afford a nice apartment in Manhattan, drive expensive cars, vacation overseas, travel the world whenever you feel like it, eat out at fancy restaurants frequently, buy clothes off the rack, wear designer sunglasses, shop at high end retailers, read magazines printed on beautiful paper, pay credit card bills early, invest in stocks, play sports regularly, donate to charity, treat friends and family to drinks at trendy bars, attend exclusive concerts, buy electronics gadgets with blinking lights and loud noises, walk down Fifth Avenue holding hands with your significant other, write checks made out to your favorite charities, send thank you cards, buy lottery tickets, fly first class, drink champagne, attend parties hosted by popular influencers, take vacations home, rent exotic locations, frequent strip clubs, purchase pricey perfume, date attractive women, buy jewelry, buy art, buy gifts, attend art galleries, host dinner parties, volunteer in soup kitchens, give away food stamps, participate in reality TV competitions, hangout at coffee shops, or listen to music produced by Grammy award winners? Does earning $1000 per week enable you to achieve those goals and dreams, or does it prevent you from reaching them altogether?
If the answer is anything except YES!, then congratulations! After all, nothing says success better than achieving goals and dreams. But the main point here is that you mustn't wait to receive permission from somebody else to enjoy the finer things in life. They come with great responsibility, though, so make sure you follow all safety guidelines. Never lose sight of your goal(s), especially if you haven't achieved them yet. And remember, nobody cares about how hard you tried or how badly you failed unless you were unsuccessful. Nobody likes failure. Failure sucks. Success is fun. Enjoy the journey. Be proud of yourself for overcoming obstacles and challenges head on. Learn from mistakes. Then repeat the process again and again until you finally accomplish whatever it is you set out to do. Most importantly, remain humble and grateful. Always be ready to adapt and improve upon your current situation. Keep moving forward.
Become CEO of your own lead generation software company, just follow our battle-tested guidelines and rake in the profits.