PASSIVE INCOME : What is Your Asset?

38 replies
Passive Income.

It's a word that we all see around Internet. The importance is CREATING AN ASSET.

Something which consistently produces money and value and you can SCALE IT UP.

Some people use Amazon FBA, some Shopify, some Adsense, Trading...

Of course, there is not "passive" income, i mean TOTALLY passive, you have to take care of your asset, but the concept is MONEY is not linked to TIME but to the value.

My Asset, as you may know, is EMAIL MARKETING: i truly think that is the ONLY asset which won't last and is reliable. And allows to scale the business.

What is Your Asset?
What source of passive income did you choose?
#asset #income #passive
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  • Profile picture of the author Enfusia
    Hi,
    I'm just helping here, so don't shoot the messenger.
    Don't you mean it's the only asset that 'will' last?

    If so, then yes, I agree that it's your list, 100%!
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  • Profile picture of the author Elvis Michael
    A quick note regarding "totally" versus "partially" passive:
    Even if you have to work on something every now and then, it's still pretty much passive income (100%). So think of passive income as something that "is, or it isn't" (with no in-betweens).

    There's a big misconception surrounding this whole thing: Some people think that something is passive only if it requires NO work whatsoever. But in reality, passive income is simply money that comes in at irregular intervals through irregular work, whether someone works at it once a week, once a month or once a year (hence, passively).

    So when you hear someone say, "There's no such thing as passive income," feel free to ignore them.

    My long-term passive income streams involve Kindle publishing, email marketing, and membership sources.

    As far as my books, i update a few of them between one and three times per year. Everything else (email and memberships) depends on the occasion, but maybe 3-4 times per month if I need to reword a few things or simply replace them altogether.
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    • Profile picture of the author DIABL0
      Originally Posted by Elvis Michael View Post

      There's a big misconception surrounding this whole thing: Some people think that something is passive only if it requires NO work whatsoever. But in reality, passive income is simply money that comes in at irregular intervals through irregular work, whether someone works at it once a week, once a month or once a year (hence, passively).
      This is technically not true and I'm too old to accept the new meaning. Additionally, for the average marketer, there is little, if anything that exists that requires even little work if you want to make any serious money online.

      Passive Income

      Passive income has been a relatively loosely used term in recent years. Colloquially, it's been used to define money being earned regularly with little or no effort on the part of the person who's receiving it. Proponents of earning passive income tend to be boosters of a work-from-home and be-your-own-boss professional lifestyle. The type of earnings people usually associate with this are gains on stocks, interest, retirement pay, lottery winnings, online work, and capital gains.

      While these activities fit the popular definition of passive income, they don't fit the technical definition as outlined by the IRS.

      Passive income, when being used as a technical term, is defined as either 'net rental income and income from a business in which the taxpayer does not materially participate', and in some cases can include self charged interest.
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      • Profile picture of the author Elvis Michael
        Originally Posted by DIABL0 View Post

        This is technically not true and I'm too old to accept the new meaning. Additionally, for the average marketer, there is little, if anything that exists that requires even little work if you want to make any serious money online.

        Passive Income

        Passive income has been a relatively loosely used term in recent years. Colloquially, it's been used to define money being earned regularly with little or no effort on the part of the person who's receiving it. Proponents of earning passive income tend to be boosters of a work-from-home and be-your-own-boss professional lifestyle. The type of earnings people usually associate with this are gains on stocks, interest, retirement pay, lottery winnings, online work, and capital gains.

        While these activities fit the popular definition of passive income, they don't fit the technical definition as outlined by the IRS.

        Passive income, when being used as a technical term, is defined as either 'net rental income and income from a business in which the taxpayer does not materially participate', and in some cases can include self charged interest.
        Meanings and terms have a nasty habit of evolving over time (just look at the word Literally, for example). So, just because there's an old/technical meaning to passive income, it doesn't make the newer forms - or their other definitions - any less valid.

        Also, the amount of money earned is irrelevant (at least in this particular thread); meaning, whether someone makes a mere $20 or $1,500, it's still passive -- at least under the newer definitions that have surfaced in recent years.

        As a result, the money that I and countless people earn from Kindle books (for example) is in fact, passive income -- whether technically true or not. Whether we are too old to accept it or not.

        Let the IRS be the IRS; the rest of us will continue building an income stream passively, whether they accept it as such or not.
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        • Profile picture of the author DIABL0
          Originally Posted by Elvis Michael View Post

          Meanings and terms have a nasty habit of evolving over time (just look at the word Literally, for example). So, just because there's an old/original meaning to passive income, it doesn't make the newer forms - or their alternative definitions - any less valid.

          Also, the amount of money earned is irrelevant (at least in this particular thread); meaning, whether someone makes a mere $20 or $1,500, it's still passive -- at least under the newer definitions that have surfaced in recent years.

          As a result, the money that I (and countless people) earn from Kindle books (for example) is in fact, passive income -- whether technically true or not. Whether we are too old to accept it or not.

          Let the IRS be the IRS; the rest of us will continue building an income stream passively, whether they accept it as such or not.
          Passive income is passive income and only having to do minimal work is not passive income.It's just been turned into a Buzz Word to sell users on the concept that there is a way to do minimal work and make money online.

          There is always going to be an exception to the rule. But in reality, most people fail at internet marketing, much less succeed with little work.
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    • Profile picture of the author ryanbiddulph
      Hi Elvis,

      Well said.

      Even though we put in work to lay the foundation for passive income, the money does flow in passively, based on past work, through certain streams.

      When I get payments monthly for Amazon Kindle eBooks or iTunes audio books I did not actively promote either for every day of the month. Definitely not trading time for money.

      I have sold over 1000 audio books from an almost completely passive model. I promoted 1 of my audio books to my list and through my blog 3 years ago. That's it. No tweeting, no sharing on Facebook, nothing. I do not touch them. But passively get payments every month.

      Thanks for sharing.

      Ryan
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  • Profile picture of the author Mike Anthony
    They have a word offline for people who are young and start out not wanting to work for a living

    Its not a kind word but

    Online we are more kind - WSO dreamers
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  • Profile picture of the author bigbubble
    I have an affiliate website!
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  • Profile picture of the author funksoul12
    adsense best for me i have many blog
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  • Profile picture of the author .
    I published 400 apps in the App store....
    and I have 14 courses published
    and 2 books ....
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  • Profile picture of the author King Ahmed
    no passive income here i am starting to create products to make passive income from the web.
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  • Profile picture of the author ryanbiddulph
    Hi Connann,

    I am huge on running a self-hosted blog because I own it.

    Ultimate asset because you can do so many things through a self-hosted Wordpress blog; sell all types of products and services, publish all types of content, and again, this is a valued piece of cyber real estate that you will own unless you break TOS, which is really hard to do, ultimately.

    Ryan
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  • Profile picture of the author galantisme
    Design templates ranging from logo, icons, vector graphics, etc. Also doing website template, especially WordPress themes.

    I share everything for free and make quite nice amount of money from affiliate promoting premium stuff.

    It's really passive because I only work whenever I want and create anything I want.
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  • Profile picture of the author Nishad Rahman
    I published 6 apps in the App store....
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  • Profile picture of the author discrat
    Still have some old MFA Sites ( "made for adsens"e) that have not been touched or even looked at for years still earning me money.

    In my book that's passive

    - Robert Andrew
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  • Profile picture of the author bushell86
    Actually this is an interesting post because I've just started a blog about it (link in sig if anyones interested).

    I've been heavily reliant on gambling affiliate cash to bring in revenue share cash, once I get a player I earn 60% of their losses for life. Doesn't sound like much but times that by x100s and you've got a recipe for success. It's kind of passive as I don't need to do anything.

    Real estate: anyone thats made a bit of cash and has some savings, I strongly suggest real estate and renting out property. It's a learning curve, but its nice to have some physical assets and the chance of the property increasing in price (its a long game).

    I also look in to protecting wealth earned from passive incomes by investing in bitcoins/precious metals etc...

    To have a fully sustained lifestyle purely based on passive income is the dream. Even if its half the amount of someone earning a great salary - I'd take half, and have all my free time please
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  • Profile picture of the author EvcRo
    I don't think there is anything passive in internet market, just a lie to sell stuff to newbies.

    From what i know since 2006 everything needs attention otherwise money stops from that flow.
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    • Profile picture of the author Elvis Michael
      Originally Posted by EvcRo View Post

      I don't think there is anything passive in internet market, just a lie to sell stuff to newbies.

      From what i know since 2006 everything needs attention otherwise money stops from that flow.
      Please see post #3, #14, and #17 (to name a few).
      Even if something requires work every now and then, it can still be considered passive. Simply put, passive income doesn't exclusively mean "hands-off" income. It can be hands-off depending on your approach, but it's not necessary.
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      • Profile picture of the author DABK
        Your point is that you want to use to word 'passive' to means something other than 'passive.' You want to use the word 'passive' to mean its opposite, too. Which, in the end, dilutes meaning and you'll have to come up with some other word to mean passive that does not require any work. (Like it used to be with unique. Now it means both one of a kind and different. Except nobody knows when it means one of a kind, so they have to say, one of a kind when they mean unique as in only 1 of its kind.)

        All the posts you point to confirm that those people are getting residual income... some confirm that they get a lot for little effort currently (because of the brightness of the original idea or the original effort).

        Since you mean, making money without a lot of new effort, why not just say, almost passive? All the push-back you're getting will not be there, you'd be able to focus on your idea?

        Clarity of thought leads to better incomes, in my experience.

        Just a thought.
        Originally Posted by Elvis Michael View Post

        Please see post #3, #14, and #17 (to name a few).
        Even if something requires work every now and then, it can still be considered passive. Simply put, passive income doesn't exclusively mean "hands-off" income. It can be hands-off depending on your approach, but it's not necessary.
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        • Profile picture of the author Elvis Michael
          Originally Posted by DABK View Post

          Since you mean, making money without a lot of new effort, why not just say, almost passive?
          Because it's not "almost" passive. It's just.......passive. That's just my opinion, anyway.

          But clearly a lot of definitions change over time, as you pointed out. Some people will agree that putting some work/effort means not passive, others will agree that it's only partially passive, and then others will say that it's fully passive (i'm personally in this crowd).

          Meh. In the end, it doesn't even matter, as stated by Linkin Park. So let's just keep making money and call it a day.

          Enjoy,
          Elvis
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          • Profile picture of the author DABK
            I know it's your opinion. And, no, it's not just... passive. Because passive means without the investor getting involved in the generation of income, without energy or effort being involved. Passive does not incorporate active, not even partially.

            According to your logic, a woman who's 2 months pregnant is not pregnant, because she's only a little pregnant and a little pregnant means not pregnant.

            And, yes, the meaning of words change over time, passive ain't to where you want it to be yet... and might never make it.

            The reason I insist is this: loose use of words leads to 'loose' thinking; 'loose' thinking leads to unexpected costs. Unexpected costs are yucky!

            Originally Posted by Elvis Michael View Post

            Because it's not "almost" passive. It's just.......passive. That's just my opinion, anyway.

            But clearly a lot of definitions change over time, as you pointed out. Some people will agree that putting some work/effort means not passive, others will agree that it's only partially passive, and then others will say that it's fully passive (i'm personally in this crowd).

            Meh. In the end, it doesn't even matter, as stated by Linkin Park. So let's just keep making money and call it a day.

            Enjoy,
            Elvis
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            • Profile picture of the author Elvis Michael
              Originally Posted by DABK View Post

              I know it's your opinion. And, no, it's not just... passive. Because passive means without the investor getting involved in the generation of income, without energy or effort being involved. Passive does not incorporate active, not even partially.

              According to your logic, a woman who's 2 months pregnant is not pregnant, because she's only a little pregnant and a little pregnant means not pregnant.

              And, yes, the meaning of words change over time, passive ain't to where you want it to be yet... and might never make it.

              The reason I insist is this: loose use of words leads to 'loose' thinking; 'loose' thinking leads to unexpected costs. Unexpected costs are yucky!
              While I don't necessarily agree with a single word you just said, I fully respect your perspective.

              Good day,
              Elvis
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  • Profile picture of the author Peter Koch
    Everything passive takes lots of hard work up front.

    I have an Amazon FBA business and if I disappeared for a year or two the business would run itself. Took me about 3 years to get to this point.

    Second is YouTube. Having a video that earns a few bucks here and there doesn't seem like much when you publish each one. But when you have hundreds of them, each one becomes one of the hundreds of little "workers" for your budget over time. Once you get there, even if you don't publish another video ever, you can expect to earn $$$ completely passively from royalties.
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    • Profile picture of the author DWaters
      Originally Posted by Peter Koch View Post

      Everything passive takes lots of hard work up front.

      I have an Amazon FBA business and if I disappeared for a year or two the business would run itself. Took me about 3 years to get to this point.

      .

      Just curious - if you were not around for a year or two how would you keep your FBA inventory stocked up? How would your FBA business run itself?


      Thanks
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      • Profile picture of the author anay
        10,000 YouTube videos, each no less than 10 minute in length, no product reviews, fully informational content all images bought from Getty Image, clips from pond5.com, and an e-commerce site selling ebooks, physical books, and DVDs. A complete ecosystem.
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  • Profile picture of the author Kate H Smith
    Banned
    There are lots of ways to earn passive income online, and lots of my clients are already doing that.

    The only difference is some clients opt for review websites or content rich websites, while other are immensely sharp. They work on those techniques which sometimes surprise me as well. And, in fact, many times I learn from my clients as well, since because of their level of investment and knowledge I know they are super rich.

    It doesn't matter whether it's YouTube, Pinterest, or anything like. The thing I have noticed is that they are focused on "DETAILS". The network in reality doesn't matter. Working on small details help them to win the game.

    So, from my experience, it won't be correct to choose one particular way or network for passive income. You have to learn the details. It's same like, if you want to make tea, you should make the best tea in the work, which can compel your guests to visit your home, over and over again. You have to know the right ingredients, amount of heat, some special spice (which is hard to find), and etc. to make your tea exceptional.

    Most of us make mistake when we try to dominate different platforms or techniques. It's better to choose one platform and learn everything about it, as much as you can. Test it and stay with it until it hands your super success and wealth.

    When you achieve that thing, you already know how to make it passive and triple your income again and again.

    Recently, my one client, and he is only 20, earned $3500 within 3 weeks, as far as I remember. He was in the gaming niche. And, his strategy was totally passive. His mind and way of thinking (business mentality) shocked me too.
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  • Profile picture of the author Randall Magwood
    I use email marketing for the majority of my marketing. I use it to teach, pitch offers, pitch free offers, promote my affiliate program, and promote my products. Due the extreme laziness that i have in life, it's the only thing that i'm willing to do - that makes me money. Other methods work too, but due to me being a guy who wants to lay in bed all day and watch Hulu.... email marketing and my list are my biggest assets.

    However due to how regulations affect certain business/marketing practices - my current assets may change in the future.
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    • Profile picture of the author discrat
      Originally Posted by Randall Magwood View Post

      IDue the extreme laziness that i have in life, it's the only thing that i'm willing to do - that makes me money. Other methods work too, but due to me being a guy who wants to lay in bed all day and watch Hulu.... email marketing and my list are my biggest assets.
      Randall ,just love your honesty and total transparency lol
      Refreshing
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  • Profile picture of the author DIABL0
    As far as assets go, build an email list(s)!!!

    I've been mailing for over 16 years and there is nothing that can touch it.
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  • Profile picture of the author jbsmith
    Not a big fan of "passive income", what I prefer to build my businesses around are these 3 concepts:

    1. Leveraged Income - meaning that I look to deploy high leverage techniques in all aspects of our business such as a) Create products once and sell many times b) Sign up affiliates so they can sell our products over and over again c) develop systems for everything we do so I can outsource and hire to scale up d) Leverage content - create once and re-purpose for dozens of platforms to get maximum reach, etc... In each of these cases, up-front work is leveraged to get many times more return from that effort AND to make it less dependent on me as time goes on so I can scale and exit the business (giving it more external value)

    2. Control: This one is BIG for me...I have watched WAY too many people build mini-empires using systems, products and go-to-market methods they do NOT control only to have their entire business pulled out from underneath them by someone else....control is critical to any notion of passive or leveraged income

    3. Lifestyle: To me, it makes no sense spending 12-14-hour days for months on end working in a market you do not like, with a product you do like spending the majority of your time doing work you don't like. The more aligned you can make your business with your lifestyle desires -- the better it will do and the more fulfilling your life will be. Don't get me wrong, there will be stuff you won't want to do, there will be headaches, there will be nasty customers, etc...but overall if you are steering the ship in a direction that aligns with your lifestyle goals - you will maximize both your chances of business success and lifestyle happiness.

    Jeff
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  • Profile picture of the author Steve B
    Originally Posted by Connann View Post

    My Asset, as you may know, is EMAIL MARKETING: i truly think that is the ONLY asset which won't last and is reliable. And allows to scale the business.

    Really?

    Email marketing is not an asset. It's a communication medium. Anyone can use it. Having the ability to email is common place - most anyone can do it.

    If you have a responsive email list . . . that's your asset. That's something worth money.

    Steve
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  • Profile picture of the author tom17knight
    Hi
    passive income can come either from rental income or a business.For passive income, you also have to work it's not like if you are not actively participating in business which doesn't mean you don't have to work.In this, a person has to create information product for selling e.g dvd, audio course etc.Rental Income is also a better way for passive income.
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  • Profile picture of the author Brent Stangel
    You get a fat check every month from your uncle Ferd, just because he thinks you're awesome.

    Now that's passive income!

    Brent
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    • Profile picture of the author DABK
      Oh, yeah! And what are you going to do when his liver's gonna give in because all that moonshine!

      Originally Posted by Brent Stangel View Post

      You get a fat check every month from your uncle Ferd, just because he thinks you're awesome.

      Now that's passive income!

      Brent
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  • Profile picture of the author JohnMcCabe
    Originally Posted by Brent Stangel View Post

    You get a fat check every month from your uncle Ferd, just because he thinks you're awesome.

    Now that's passive income!

    Brent
    Originally Posted by DABK View Post

    Oh, yeah! And what are you going to do when his liver's gonna give in because all that moonshine!
    Pray that you're in the will?
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  • Profile picture of the author GrowthMonger
    Yes indeed, email marketing is one of the greatest assets out there.
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  • Profile picture of the author Andries van Wyk
    My assets are Bitcoin miners. It has enabled me to quit my 9-5.
    I now have the freedom to teach others how they too can get into the crypto market, and generate income through Bitcoin mining.

    I prefer to mine through certain companies who manage everything on behalf of their clients. Less headaches for me, haha, and of course this means 100% passive income.

    My assets paid themselves off in 8 months. I make around 5%-15% of the cost of the assets per month, depending on what the crypto market is doing.
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