What Does "Passive" Mean to You?

30 replies
As the title of this thread says, what qualifies as "passive" income to you?

Tell me...
#passive
  • Profile picture of the author webmarke
    Passive income to me?

    It's when you are able to automate your income. There are many ways to do this but here are some that bring me passive income.

    Promote products that have recurring income. Make 1 sale and get paid monthly from that 1 sale.

    Make money passively through an autoresponder - Set up follow up emails to your autoresponder and make a passive income by promoting products on auto pilot.
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  • Profile picture of the author danieldesai
    Originally Posted by wolfmmiii View Post

    As the title of this thread says, what qualifies as "passive" income to you?

    Tell me...
    To me, "passive" income refers to any income received from a source which does not take much active effort on your part to maintain it.

    So, a person who has built a thriving business by blogging may or not be making a passive income.

    If he needs to spend 6 hours a day writing, just so his blog's traffic (and income) doesn't drop, that's not passive.

    However, if he hires an excellent writer to fill in his stead, and that leaves his management duties on his blog to a few minutes a day, I would say that's passive (provided all the other aspects of running that blog are also taken care of).

    Of course, that leaves the subjective question of, "well, how much time or effort is too much to be considered passive?"

    Another thing to note is that building a passive income almost always requires an active effort.

    Of course, there are some exceptions...

    There are bloggers, social media marketers, Kindle publishers, etc. who run their entire business on maybe an hour or two a day, and that's without outsourcing extensively.

    Regards,
    Daniel
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  • Profile picture of the author discrat
    Putting in a certain amount of work to automate things to a degree where you are making money in the future with minimal effort


    - Robert Andrew
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  • Profile picture of the author ktz16
    To me passive income means income that is not dependent on me being at work, or at the sale.

    I does not mean no effort. Passive income can still be a lot of work but the income potential is much higher.
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  • Profile picture of the author ZanyZebra
    Originally Posted by wolfmmiii View Post

    As the title of this thread says, what qualifies as "passive" income to you?

    Tell me...
    What does 'passive' mean to me?

    From experience, usually it's associated with some 5th-rate 'marketer' selling a course to those with not yet enough knowledge to know that by 'passive' they really mean 'bullshit'.

    Good luck with your venture.
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    • Profile picture of the author wolfmmiii
      Originally Posted by ZanyZebra View Post


      Good luck with your venture.
      Not sure what "venture" you are referring to. Can you elaborate?
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  • Profile picture of the author agmccall
    to mean it means that after the initial setup there is very little follow up work. I consider something that I only have to apply a few hours a month to keep alive to be passive. But that is just how I see it.

    al
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  • Profile picture of the author JohnMcCabe
    I see two types of passive income.

    The first requires an upfront investment in cash, such as buying shares of stock in a company that pays reliable dividends. Once I own the shares, my involvement consists of cashing the dividend checks and an occasional proxy statement.

    The second requires upfront work, creating assets that generate income with minimal attention. For example, you create an online course that is delivered automatically. To sell that course, you create a lead magnet, opt-in page, and autoresponder series that reliably converts people into buyers. To generate the opt-ins, you create a PPC campaign that reliably generates traffic that opts in.

    All of these work whether you are watching them or not. All you have to do is monitor the systems to make sure they are still working, and make occasional tweaks (like updating Wordpress and the associated themes and plugins, if that's your platform of choice).

    Back at the turn of the twentieth century, inventors were obsessed with creating perpetual motion mechanisms. In plain English, gizmos that, once started, would never stop.

    In these first decades of the twenty-first century, would-be online entrepreneurs are obsessed with the digital equivalent - income that, once started, never stops flowing.

    Unfortunately, like their 1900s counterparts, they too are doomed to fail.
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    • Profile picture of the author madstan
      Was actually thinking of this and was going to post it.

      Originally Posted by JohnMcCabe View Post

      I see two types of passive income.

      The first requires an upfront investment in cash, such as buying shares of stock in a company that pays reliable dividends. Once I own the shares, my involvement consists of cashing the dividend checks and an occasional proxy statement.
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  • Profile picture of the author katrim
    For me it means a beach, an umbrella and at least one pina colada next to me while I'm sweating to build my tan after I've sent a new email broadcast to my list and made a month's worth of living in that Paradise.
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  • Profile picture of the author jbsmith
    I prefer the term "leveraged" simply because it not only means passive it implies that your strategies are focused on growth.

    For example, I develop courses, just put one up on Udemy and they market it for me (I do my own as well, but they do a pretty good job of promoting the programs on their own) which not only is passive income, but the links and resources section of the course brings them back to my site and refers additional products and services to them as well as encouraging them to subscribe to my list...this is passive AND growth based.

    Another method of passive growth is to leverage the audience of existing influencers...the effort you put into securing a solid relationship with an influencer will lead to passive growth so long as you play fair and support your partners.
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    • Profile picture of the author JohnMcCabe
      Originally Posted by jbsmith View Post

      For example, I develop courses, just put one up on Udemy and they market it for me (I do my own as well, but they do a pretty good job of promoting the programs on their own) which not only is passive income, but the links and resources section of the course brings them back to my site and refers additional products and services to them as well as encouraging them to subscribe to my list...this is passive AND growth based.
      Jeff, this is a perfect example of the second type of passive income I talked about above.

      You created the course, put it up where sales come automatically and added a system to bring buyers back to your site to begin the cycle all over again.
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  • Profile picture of the author russflex
    Royalties for hard work.
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  • Profile picture of the author Zodiax
    Well passive income to me is the leverage of assets that continually make you money.
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  • Profile picture of the author Raydal
    Do the work once and being paid over over again for the same work.

    -Ray Edwards
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  • Profile picture of the author Randall Magwood
    Originally Posted by wolfmmiii View Post

    As the title of this thread says, what qualifies as "passive" income to you?

    Tell me...
    "Slow".

    It means a slow, steady, predictable amount of income that comes in automatically without you doing much work.
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  • Profile picture of the author writeaway
    Work once, earn many times.

    Also, to me, it can mean truly "DONE FOR YOU."

    As in the system actually works and I don't have to lift a finger.

    Sadly, truly DFS systems are few and far between.
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  • Profile picture of the author hamlak
    Work once, get paid many times. E.g. Write a book, get paid many times for the sales. Could be 100,000 times. Hahahah, everybody loves this. But the problem is the work you do one time - usually massive. Hmmm, I remember the work to do some books on Amazon. But I am getting paid years after that.

    The above defines passive income..
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  • To me passive income means that I spend on average less than 5 hours/week to keep things running and that I can leave my business untouched for weeks in a row at times (think of holidays) and that things will keep on running.

    If I have to work 80 hours/week for 1-2 years in advance to achieve that then that's perfectly fine with me.

    A good example of that are obviously affiliate sites using a set & forget concept.

    With this kind of business it won't be an ever lasting passive income of course but that's no problem really.
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  • Profile picture of the author Regional Warrior
    Fancy marketing word meaning membership residual

    Jason
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  • Profile picture of the author aizaku
    money I make on repeat for work I did months or years ago.

    By work I mean: content/product creation, testing squeeze pages, testing headlines, feeding my email funnel.

    Have a good one,
    Ike Paz
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    • Profile picture of the author George Schwab
      Originally Posted by aizaku View Post

      money I make on repeat for work I did months or years ago.
      yeah: fantastic

      plus: investments, dont touch anything, just be a silent partner = great passivity
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  • Profile picture of the author ydsimple
    When you work hard once to set up your income stream and then your business work for you almost on autopilot :-)
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  • Profile picture of the author dynamyt100
    Work extremely hard for a period in your life and if everything is done correctly, you should reap the financial rewards
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  • Profile picture of the author EPoltrack77
    You could take it back to Greek times if you wanted.

    Do something once and it will continue to cycle and run. It's really neat to see a $10, $20 and even $50 come in on autopilot from work you did a while back.
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  • Profile picture of the author ITjobSecrets
    I think most of us who are making money online have "part-time" passive businesses...effectively businesses that need a little bit of babysitting and oversight.

    To have a fully passive business you need to have either a 100% automated process or people that you can trust to do the work for you.

    With a fully passive business you just sit back and let the money roll in.

    Certainly something to work towards, and the dream of many I'm sure...
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  • Profile picture of the author anayb
    Its not 5 hours/week but 12 hours per day, and your income is grown so big that it easily equates to what 100 people earn a year while they work for others. Passive income doesn't mean that you work less hours and the cash flows, its all about leveraging other people's time and energy. You only got 24 hours a day and you got to utilise as much as time possible, not working less. Remember, careful automation requires huge amounts of time and efforts, especially in the beginning.
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