Passive Income To Quit Your Job?

by jpboxersox 8 replies
You don't have to share your methods but I was wondering what is the best way to make a passive income? CPA, affiliate, building websites, PPC, etc. Right now my main sources are affiliate marketing and CPA (part time income) Should I stick to one method or is diversity key? Anyone making a full-time income care to share what are they using to get a full-time income

#main internet marketing discussion forum #full time #income #job #marketing #passive #passive income #quit #quit job #seo
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  • Profile picture of the author Michelle Stevens
    Originally Posted by jpboxersox View Post

    You don't have to share your methods but I was wondering what is the best way to make a passive income? CPA, affiliate, building websites, PPC, etc. Right now my main sources are affiliate marketing and CPA (part time income) Should I stick to one method or is diversity key? Anyone making a full-time income care to share what are they using to get a full-time income

    I am by no means making a full time income online but one thing I have been told over and over is don't put all your eggs in one basket....... so I'm guessing that diversity is the key
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  • Profile picture of the author Aaron Doud
    As with any business they take time and effort. Rather it is your time or you hire someone(employee or outscource) in the end someone has to do the work.

    Sure some IM can be set and forget once you get it going but in the real world rather it is online or offline you simply can't expect passive income unless you have scaled something large and have others do all the work.

    Want to quiet your job? Follow these steps.
    1. Identify a businesses where your current skills can be used to make money
    2. Identify a business within the ones you found in group one that requires only part time work but can be scaled.
    3. Start said business on the side.
    4. Once you have it making enough money and you are confident you can scale it than scale it.
    5. Begin to outscource as much as you can.
    6. Repeat with new business ideas.

    In time you can create businesses that require very little of your time but it is not easy and it does not happen over night. But as your outscouce more and more the money you personally make from each business will drop as you go hands off(your labopr is being replaced by labor you are paying for). But let's say you can run a business where you keep 5% as profit and do little to no work.

    That is great if the business is making a million a year. It sucks if it is making $50,000 a year. So scaling is the key.
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  • Profile picture of the author Jarrod
    Great advice, lordauric. I would add to step one though that ideally it should be something you are not only good at, but passionate about. When working a full time job and starting something up on the side it is easy to face burn out very soon, and the more passionate you are about it the more you will be able to get through that phase.
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  • Profile picture of the author drr
    Really good post Lord

    I do make a FT living with my online business, and I do not know if anyone else can relate but I found the following to be especially true:

    - It took some time to evolve from a few dollars a month, to a few hundred to a few thousand.

    - During that time, I kept on learning new things and strategies and kept trying to identify what it was that most people want now. EG at one time Adsense was HUGE (people paid four figure fees to access adsense courses - now while still popular it isn't as big anymore). Understanding what people are paying real money for, and offering a servce/product for it should work.

    - Build a customer list, and establish rapport with them.

    Slow, steady, regular progress is the key IMHO.

    Wish you the best
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  • Profile picture of the author Kecia
    I think the "best way" will vary depending on who you talk to. You need to find something that you are comfortable doing and that you enjoy. Passive income takes time to build, and you won't have anyone riding your back telling you when things need to be done. If you hate whatever it is you are doing, you are likely to procrastinate or not get things completed.

    For me, selling PLR is a very enjoyable passive income stream. I love to write, and would rather create content that is going to earn me money for months or even years than sell it one time for upfront pay. Niche sites are another income stream I am building up...again, because I love to write informative content that can help others.
    Signature - Blogger. Content Creator. Social Media Enthusiast.
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  • Profile picture of the author jpboxersox
    Thanks everybody great advice !
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  • Profile picture of the author jgant
    There's a difference between online business model and monetization strategy.

    An example of an online business model would be building content sites. On a content site, you could implement several monetization models such as affiliate promotions, adsense, and CPA. There's no reason not to ... I do all 3 on my sites plus build a list to which I provide more content and promotions.

    The starting point is deciding which model do you wish to focus on. Will you build a series of small info websites each going after one keyword. Or will you build a large info site going after many keywords while also working to build an audience?

    Other models include e-commerce sites (product creation or dropshipping), review sites (which can also include pure info articles), website flipping, etc.

    Once you choose a model, then you can decide how you'll monetize. You can easily monetize pretty much any site several ways as outlined above.

    With respect to wondering whether PPC is a viable model; PPC is a source of traffic and can be a good source of traffic if you earn more than you spend. Other sources of traffic include organic SEO, forums, from your email list(s), article marketing, solo ads, banner ads, etc.

    Regardless which type of model you use, you'll want to determine a key objective for any site. Objectives could be:

    • Build a subscribership
    • Earn commissions through affilliate promotions
    • Sell your own product(s)
    • Earn revenue from Adsense clicks
    • Sell memberships

    You can certainly pursue more than one objective, but at the beginning it helps to focus on one objective to get the revenue rolling in (I focused on affilliate promotions and then added other models).

    I realize this is a bit of a convoluted answer, but that's because a website is an evolving thing which is great. But, start with one objective and build up from there.
    How I hit $10,000+ per month very fast w/ 1 niche blog - Click Here to learn more (no opt-in).
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