How big is Passive Income in your plans for 2015?

40 replies
Are you focused on 'work once, get paid once' strategies or are you focusing more on 'work once, get paid many times over' systems? How important is system building to you?

I've been switching gears recently and focusing more on passive income and systems building. I need more time to spend with my family.
#2015 #big #income #passive #plans
  • Profile picture of the author Tsnyder
    90% of my income is passive... or residual.
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  • Profile picture of the author camohit
    Hav recently started but already seeing the result in monthly passive income. Hence I know I am on right track. Puttin all my efforts right now to increase the amount to my satisfaction and help others in living a better life.
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  • Profile picture of the author sirtiman
    For me setting passive income will need more time on the beginning, but the rest will be automated and the money keep coming to my wallet. I always check my income generator system once a week in the weekend. It's like tune up your pc to make everything are going smooth.
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  • Profile picture of the author XponentSYS
    I tend to stay away from the term "passive" and use instead the term "continuity" when describing the income that comes in each month from my various memberships...... one of which brings in about 40k a month.

    How much time will I spend in 2015 building more "continuity" income?

    Answer: As much as humanly possible.

    I love continuity income. All those monthly rebills coming in constantly are the closest thing to security I can find. Like anything else, diversity is key! That's why I have many memberships, of different types in many markets. If the unthinkable were to happen to one of them, you wouldn't see me in the unemployment line. That's because my memberships are diversified.

    How many hours a week do I work? 40 - 60 but that's my choice. I don't HAVE to work that many hours but I chose to because I love it,
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    • Profile picture of the author Genius001
      Originally Posted by XponentSYS View Post

      I tend to stay away from the term "passive" and use instead the term "continuity" when describing the income that comes in each month from my various memberships...... one of which brings in about 40k a month.

      How much time will I spend in 2015 building more "continuity" income?

      Answer: As much as humanly possible.

      I love continuity income. All those monthly rebills coming in constantly are the closest thing to security I can find. Like anything else, diversity is key! That's why I have many memberships, of different types in many markets. If the unthinkable were to happen to one of them, you wouldn't see me in the unemployment line. That's because my memberships are diversified.

      How many hours a week do I work? 40 - 60 but that's my choice. I don't HAVE to work that many hours but I chose to because I love it,
      I've always been very interested in the membership site model.
      Currently working on an idea i'm developing now.
      Do you create your own content, ......outsource your content (pay writers/video creators to create it for you), or partner with experts in various niches (do like a 50/50 partnership where they create the content, you create and market the site, and you split the profits).
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      • Profile picture of the author David Ogden
        My plan for 2015 is to double my passive and in addition be able to give up my part time job, so that in future I will live on 100% passive income. My five year plan is to be able to live a comfortable lifestyle and travel the world with my wife, spending a little time online helping others to help themselves.
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  • Profile picture of the author Tom Addams
    It's a big part. Had it been any other year, I could have given you a percentage, actually. 2015, though, sees a lot of new online developments. My team and I are focused on development this year. Over the next 2 years, you'll see social networks (FB leading the way) becoming very different. We're planning now, in preparations for changes. But, back to passive income. A big chunk of my time is spent in this area, especially how it relates to viral marketing.

    Tom
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  • Profile picture of the author QueenMelanie
    ah yes, passive income is the main goal of any internet marketer, or at least, it should be!
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  • Profile picture of the author lowriskinc
    Residual income from the gambling business has allowed me to "free up my hands" and work on other things. Over the years, I've deliberately steered away from businesses that would "lock me down" even though they may pay more at the moment.

    Being free-flowing allows me to turn on a dime depending on the changing environment. I just got into what they're calling passive income about 5 months ago. It really is passive because I had to work my ass off for the residuals, but this passive stuff just comes in when it's ready to. Being passive is against my own nature, so I'm aggressively building passively, I guess :-)
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  • Profile picture of the author Webkingseo
    I earn a bit of passive income from mobile apps and Kindle books , But My main income stream is from providing service , My goal is to setup more resources for passive income so that i can move completely from service to passive income.
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  • Profile picture of the author Rory Singh
    I actually sell products that have (reoccuring commissions). You sell it 'once' & keep making money as long as the members stay active.

    Getting paid reoccuring commissions helps immensley with passive income.
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  • Profile picture of the author nicolasmd2112
    I used to focus on passive income, this is still my main goal but I then realized that is most cases quick commissions and instant sales or profit will eventually lead to residual income if you automate the process as much as possible.
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  • Profile picture of the author jamescanz
    I have a few specific offers I am promoting much more often...

    As they've made me some nice PI and continue to do so, month after month.
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    • Profile picture of the author Thomas Belknap
      No plans for passive income. I rather reinvest earnings to continue to build up my current business.
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      • Profile picture of the author Chilix
        I have no plans neither but something would be better than nothing.
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  • Profile picture of the author Alexa Smith
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    Originally Posted by writeaway View Post

    Are you focused on 'work once, get paid once' strategies or are you focusing more on 'work once, get paid many times over' systems? How important is system building to you?
    Very important ... I work only on "work once get paid many times over" methods. They're miles better than "rinse and repeat" models, aren't they?

    But I don't think of them as "passive income", and they're not. I have articles "out there" that I wrote as long ago as 2008 that still bring me income every month, but even those aren't "passive income". I still have things to do, to collect that money. For a start, I have to check that the products I was promoting then are still for sale, and take action when they're not. So it would really be misleading for me to call any of it "passive".

    I don't pretend that getting paid "many times over" is the same as getting paid "for ever, without doing any more work at all". It just isn't.


    .
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  • Profile picture of the author justicejr
    I have plan to create niche blog about internet marketing and health blog in this year. I have create my own product to promote in this blog. It's finish around 30%
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  • Profile picture of the author tourist
    200 dollar monthly .this is my goal .
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    • Originally Posted by tourist View Post

      200 dollar monthly .this is my goal .
      You mean to start with right?

      if that's your end goal, not sure what to think.
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  • Passive income is great but it's not really 100% passive is it? Or is it?

    Nothing lasts for-ever. The dream is write a book, top seller, makes you $500,000+ per annum royalties for-ever. It is a dream.

    BUT you could hit something big for 12-18 months make enough money to create the next one.

    I have both at the moment. Obviously I'd love to be 100% passive or "semi passive" income but not there yet.

    The guy that has a membership site generating $40k month. Wow. That's amazing.
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  • On another note, I read somewhere the Elvis foundation still makes millions $$'s per annum. You can't get any more passive than that can you?

    Bad news you are dead


    Good news you are making $2m per annum.

    Some of the huge Christmas pop songs still make their artists a big sum every Christmas.
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    • Profile picture of the author Alexa Smith
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      Originally Posted by gettingricherdaily View Post

      On another note, I read somewhere the Elvis foundation still makes millions $$'s per annum. You can't get any more passive than that can you?
      Well ... I imagine quite a lot of administrative attention and lawyers' fees are involved, even in that. Especially if it's anything like the Andy Warhol foundation.

      Even that isn't really "passive". Profitable, yes, but not entirely "passive".

      Originally Posted by gettingricherdaily View Post

      Bad news you are dead
      This is also true. Ah well, there's always a catch.

      .
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  • Profile picture of the author Bob Reynolds
    I have been working on the system all year, I started to run traffic and realized I was not ready.So I have held off to do it right, and not waste my money. The next 6 months will be about building the list size now that my system is near ready. Not finished mind you, never finished...lol
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  • Profile picture of the author webmonopoly
    Not many IM ventures are purely passive, there is usually something you need to manage, and you cant just leave it alone for too long.

    On the other hand something like stock dividends are 100% passive.
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    • Profile picture of the author derekwong28
      Originally Posted by webmonopoly View Post


      On the other hand something like stock dividends are 100% passive.
      That is my main source of income now since my business tanked. But it is not enough to support my family. I hope to make some sort of recovery this year.
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      • Profile picture of the author successproducts
        I would invest in passive income stream via websites. I would invest about $5000 to make $90,000 a year via online passive income stream. (this is based on $5.00 a day income per site).


        If you buy 50 websites at approx. $20.00 a piece = $1000 one time cost

        Plug in software approx. = $297.00 one time cost
        (need plug in to automate the whole process)


        This is recurring expenses:



        Buy content at $5.00 per month per site = $250.00 a month x12= $3000 per year
        web hosting and domain registration = $40 a month x 12 = $480 per year + $750.00 per year


        Completely hands off.

        This is not counting advertising revenues once sites have regular visitors ...
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  • Profile picture of the author quadagon
    I think my kindle books are as close to passive as I'll get. I literally update the covers once a year and send out a press release twice a year.

    I've carved out a nice % of the market where we let the big boys do the advertising and I just feed off the scraps (still worth over 6 figures a year thou).

    The articles, website and YouTube videos drive traffic to a central site and from their to Amazon.

    Due to the market there is no point list building. Fortunately their are 700,000 potential new customers every year.

    I really should expand and take the model international but it feels too much like hard work.
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    I've got 99 problems but a niche ain't one
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  • Profile picture of the author James McAllister
    I focus on total return for time invested. Whether that comes from getting paid once or many times over is irrelevant at this point.

    Before I was making enough passive income to live off of than that was more of a focus, because once I reached that threshold I had a lot more freedom.

    Really though if one's goal is passive income for the long term I say get as much as you can and just invest it in index funds... doesn't get more passive than that!
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    • Profile picture of the author SantamNaha
      Originally Posted by James McAllister View Post

      I focus on total return for time invested. Whether that comes from getting paid once or many times over is irrelevant at this point.

      Before I was making enough passive income to live off of than that was more of a focus, because once I reached that threshold I had a lot more freedom.

      Really though if one's goal is passive income for the long term I say get as much as you can and just invest it in index funds... doesn't get more passive than that!
      Hi,
      by Index fund you mean to say Binary, Forex etc?? What Index funds actually is?
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  • Profile picture of the author Randall Magwood
    Work once, get paid many times over is something that i highly prefer. This is a system like recurring monthly income affiliate programs, or products that have a long backend selling cycle.

    Work once, get paid once reminds me of a job. Don't like the idea.
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  • Profile picture of the author valueweb888
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    • Profile picture of the author SantamNaha
      Originally Posted by valueweb888 View Post

      i am on amazon affiliate and averaging $100 to 200k per year. have been at it for 5 years, and spend about 1 hour on it each day. am loving it!
      How're you able to do that man? Lots to learn from you.

      Thanks
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  • Profile picture of the author Miguelito203
    Originally Posted by writeaway View Post

    Are you focused on 'work once, get paid once' strategies or are you focusing more on 'work once, get paid many times over' systems? How important is system building to you?

    I've been switching gears recently and focusing more on passive income and systems building. I need more time to spend with my family.
    I'm personally not a fan of service-related businesses, where I have to work too much like a nine-to-five. I'm kind of lazy and not good with deadlines - ha. Plus, every time I've gotten money from that manner, the money has pretty much been spent by the time I've gotten it, if you know what I mean. Then, you have to start the hunt all over again.

    Joey
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  • Profile picture of the author Dyk Estrada
    Adopting the passive income mindset can get a while to get used to. But once you grasp it, it would be insane not to wish for it.

    But wishing is different from actually having it. What I learned is that you can acquire it if you see building a business as planting some crops. You have to give it time and consistent effort so that it can grow. But once it takes off, it becomes easier.
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  • Profile picture of the author leilani
    'Work once, get paid many times over' system.' I too am focusing on passive income and systems building,

    It wasn't until 3 years ago that I realized that the business I had was a "Glorified Job." I was the business. If I got sick or hurt physically, there goes my income. I knew I had to do something. So I looked around and finally settled on making money on the internet. Came highly suggested by my Financial Mentor.

    My Business Mentor is all about having systems in your business. That the business is the product. Systems that I eventually would like to VA out or hire people to run it for me.

    That is the goal.

    Leilani
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  • Profile picture of the author kennyd3
    How big is passive income in your plans? Seriously!
    I think that should be priority number 1 for any plans for any year.

    Membership with classroom training sites are the best!
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    • Profile picture of the author discrat
      Originally Posted by kennyd3 View Post

      How big is passive income in your plans? Seriously!
      I think that should be priority number 1 for any plans for any year.

      Membership with classroom training sites are the best!
      It should be a priority but for most people it is a byproduct of hard work over a period time.

      You start something and eventually it springs into something that you didnt expect and eventually leads to automated income and passive income. That's the way a lot of times it worked for me in the past.

      But it is NEVER easy by any means



      - Robert Andrew
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