Are you blind to the opportunities of making "Passive Income" on the internet?

45 replies
Hi all WF members,

It was recently pointed out to me by my mentor that I was wasting my time on the internet. He started showing me how to build a website/product to make passive income rather than me creating a job for myself when starting a new website/product.

When he explained it I was ecstatic, and I took down a ton of notes and I'm pumped to get started.

So my question is this... How many other Internet Entrepreneur's are primarily setting up linear websites/products and not realizing it because they're following someone elses "system" (such as myself) because that system was proven to work.

I want to share my mentor's message with everyone as it was very inspiring to me and that is "opportunities can be obstacles." Meaning just because you can make money on the internet by doing that, doesn't mean you should. There are several successful business on the internet set up to make passive income on autopilot. So why aren't you focusing your time and energy setting up your business to make you money while you sleep?

I'm interested to hear your views on this and what realizations you might have just had?
#blind #internet #making #opportunities #passive income
  • Profile picture of the author Cali16
    Have you actually implemented your mentor's plan so that you're now making passive income on autopilot?
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    • Profile picture of the author The free Life
      Yes! I woke up at 6:00 a.m. on this beautiful Saturday morning excited to rework my business model to achieve this. He pointed out to me that it was 100% mindset in why my daily activities and time consuming projects were even existent. I created the work because I was following a "proven system."

      So it will take some time, but yes, I am working with a smile on my face today to revise my website/product/sales funnel/pricing etc. to where I'm not busting my butt day in and day out to get sales.
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  • Profile picture of the author robbnel
    the internet is getting highly saturated I think. So, anyone just starting when need lots of money and to spend many many hours marketing etc.
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    • Profile picture of the author Meka Anilkumar
      Originally Posted by robbnel View Post

      the internet is getting highly saturated I think. So, anyone just starting when need lots of money and to spend many many hours marketing etc.
      Of course saturated with websites but not with competition. For Newbies there is a plenty of room every time...Most of them just start and forget. If you stick with..what you learn then you can crack the short path of success..

      Just mix your smart think and hard work then watch the real money rollin

      Anil
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  • Profile picture of the author Vadimarket
    Well, if the program I'm involved with gives me 100% commissions, that's almost as good as your own business, right?
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    • Profile picture of the author kindsvater
      Originally Posted by Vadimarket View Post

      Well, if the program I'm involved with gives me 100% commissions, that's almost as good as your own business, right?
      Why should the percentage matter?

      Compare 100% commissions on a $10 product versus 10% commissions on a $500 product.

      But that doesn't address what the thread is about. Do you have a system in place to make these commissions as passive income without spending time to make each commission?

      .
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  • Profile picture of the author Jerimiahgunn
    That's a great question your mentor asked you! He asked you because it's up to you to make a decision on your path.

    I personally think if you are going to do the internet why not work to let your efforts continue to grow.
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  • Profile picture of the author Michael Ten
    I see the opportunities, I just have had a hard time utilizing them effectively.
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  • Profile picture of the author Randall Magwood
    Once you start making money you will more than likely revise your mentor's advice.
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    • Profile picture of the author The free Life
      Originally Posted by Randall Magwood View Post

      Once you start making money you will more than likely revise your mentor's advice.
      Can you expand on this Randall? I'm not arguing the fact there's money to be made through linear methods as I've been earning a full time income through those very methods (and I've been very excited about it) but what was pointed out to me is that there are people making the same amount of money and not working 40 hours a week.
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  • Profile picture of the author Rob Whisonant
    When developing your business to produce passive income you need to also take into consideration the duration of the passive income.

    Can you take off a week and still make the same amount of profit?

    Can you take off a month and still make the same amount of profit?

    Can you retire and not worry about your passive income going away before you die?

    Or are you building a passive income business that is only passive if you continue to work the business to a degree?

    There are all types of passive income businesses. Some better and some worse than others. Choose wisely.

    Re's
    Rob Whisonant
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  • Profile picture of the author DotComBum
    I think it's due to different passions of different people, some like to design, some like to flip sites, some like write, while the others like to earn money while they sleep, so I guess we use different ways to make money online.
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    • Profile picture of the author The free Life
      Thanks DotComBum,

      That's interesting that you bring that up. I guess not everyone is the same and some people love what they do and are happy to wake up and do that work every day.

      I personally started my Internet quest with to have much more free time and the luxuries to work from whatever part of the world I desire. So it's interesting to me and important for me to understand that not everyone who ventures in internet marketing shares that same dream.

      Thanks for the reply.

      Anyone else feel the same as DotComBum?
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  • Profile picture of the author infomaniacs
    I make money while I sleep, but I do have to invest money into advertising and promotion.
    I love affiliate marketing, as all I need to do is promote my site, and someone else does the packaging, posting etc. Easy peasy
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    • Profile picture of the author Rob Whisonant
      Originally Posted by infomaniacs View Post

      I make money while I sleep, but I do have to invest money into advertising and promotion.
      I love affiliate marketing, as all I need to do is promote my site, and someone else does the packaging, posting etc. Easy peasy
      Take that one step further and get other people to advertise and promote for you. Then "you" can do what you want, when you want, where you want.

      Re's
      Rob Whisonant
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      • Profile picture of the author The free Life
        Originally Posted by Rob Whisonant View Post

        Take that one step further and get other people to advertise and promote for you. Then "you" can do what you want, when you want, where you want.

        Re's
        Rob Whisonant
        Hi Rob,

        I see by your tagline you specialize in residual income. Would you care to expand slightly on the "one step further" for all of us, as to what you do to get other people to advertise and promote for you. Do you do it through outsourcing, fiver, etc. And if you've tried multiple which have you found most beneficial.

        Thanks, and great post! You and I are on the same page with keeping your eyes open for utilizing the internet to its full capacity!
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  • Profile picture of the author FelixUng
    Even a passive income also needs an active start if you want to to be successful. I'm not saying that we have to work on our internet marketing from 9-5 but we still have to be consistent and persistence during the start. Discipline is the key.

    I would not say I'm wasting my time on the internet though I'm actually following a proven system like you do. You just need to have faith in yourself that you will eventually succeed in what you're doing. It takes time to see the result.
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    • Profile picture of the author fin
      I think you have to make a choice when you decide what you're going to do, how you will market your website etc.

      I'm making a tiny amount, but it's definitely passive income, and it's because of the way I set my business up and ignored the path to instant riches.
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  • Profile picture of the author Jonathan Davis
    Originally Posted by The free Life View Post

    Hi all WF members,
    It was recently pointed out to me by my mentor that I was wasting my time on the internet. He started showing me how to build a website/product to make passive income rather than me creating a job for myself when starting a new website/product.
    So, does this mean that you are going to go the offline route?
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    • Profile picture of the author The free Life
      Hi Jonathan Davis,

      Okay I'm going to explain EXACTLY what happened with my situation.

      No, I am going to remain online. I have 6 information products I created myself along with a membership website, but my mistake was, my membership fee was a one time entry fee, my products were only offered on that one website, and I give ALL the products to the lifetime members as soon as they join. Thirdly I was marketing it manually myself as I was still testing what works and what doesn't.

      My mentor looked at my business model and completely tore it apart. He told me I need to separate my products and sell them individually all within their own websites. Then through automatic email marketing offer "new" products as upsells and bonuses. And on my membership site he encouraged me to lower the entry fee and have the pricing be a monthly renewal fee, and to keep people remaining members offer weekly workshop webinars that have been pre-recorded. Lastly for my marketing he said I NEED to be creating systems for exactly what I'm doing and outsource it as soon as possible so my only focus would be on product development.

      So the marketing would be outsourced, the email marketing would be automated to increase conversions/sales/add on sales and the work that I would be left with is managing my employee I outsourced and product development which should be somewhere in-between 10-15 hours a week.

      The reason I got so excited is because this is the exact system my mentor is using and he's making over 200k a year and lives a very free lifestyle.

      Hope that cleared things up for people on why I created this thread.
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  • Profile picture of the author Walter Parrish
    Originally Posted by The free Life View Post

    Hi all WF members,

    It was recently pointed out to me by my mentor that I was wasting my time on the internet. He started showing me how to build a website/product to make passive income rather than me creating a job for myself when starting a new website/product.

    When he explained it I was ecstatic, and I took down a ton of notes and I'm pumped to get started.

    So my question is this... How many other Internet Entrepreneur's are primarily setting up linear websites/products and not realizing it because they're following someone elses "system" (such as myself) because that system was proven to work.

    I want to share my mentor's message with everyone as it was very inspiring to me and that is "opportunities can be obstacles." Meaning just because you can make money on the internet by doing that, doesn't mean you should. There are several successful business on the internet set up to make passive income on autopilot. So why aren't you focusing your time and energy setting up your business to make you money while you sleep?

    I'm interested to hear your views on this and what realizations you might have just had?
    uhhhhh lol
    that is the reason it is taking me 2+ months or more to take everything live.
    learning wordpress
    learning plugins
    learning IM

    automating it all.
    anyone that has been in business over time will learn to automate, delegate and outsource
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  • Profile picture of the author Rob Maggs
    My Mentor suggested setting up a membership site and it has worked very well for me. Every month I offer new IM software I've developed and fresh PLR.

    It runs on autopilot but it still takes work to maintain, all the PLR is taken care of by outsourcers, so I just have to focus on creating new IM software each month. My next project is another membership site but this one will require very little input from me, but should reap great returns.

    The membership model is a definite winner IMO.

    Cheers

    Rob
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    • Profile picture of the author The free Life
      Originally Posted by Rob Maggs View Post

      My Mentor suggested setting up a membership site and it has worked very well for me. Every month I offer new IM software I've developed and fresh PLR.

      It runs on autopilot but it still takes work to maintain, all the PLR is taken care of by outsourcers, so I just have to focus on creating new IM software each month. My next project is another membership site but this one will require very little input from me, but should reap great returns.

      The membership model is a definite winner IMO.

      Cheers

      Rob
      That's exactly what I'm talking about Rob. Great work!

      To help you out with keeping it going and product development (even though I really enjoy doing this myself as well) it was pointed out to me that what you need to push yourself to do is create detailed systems for how you maintain your site and create new products. Once the systems are created (and they dont need to be perfect right away) you can outsource that as well by giving your employee a layout of what you want the product to consist of and have them do all the busy work. Again the first one might not be perfect but over time you and your employee can work together to fix the bugs and allow you even more free time!

      Great response!
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  • Profile picture of the author JasonMantle
    Alas the days of autopiloting are fast passing
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  • Profile picture of the author Zend
    To take a path that is difficult, doesn't mean a guarantee of success, but an honest effort WON'T betray you. To take an easy path, which may be a pipe dream, is a guarantee of failure. We all know the formula of IM, and the best formula is nothing but hard work. Behind every success, before you do outsourcing, delegating, automating, there is always an honest effort and intelligent mind to do all the work.
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    • Profile picture of the author Walter Parrish
      Originally Posted by Zend View Post

      To take a path that is difficult, doesn't mean a guarantee of success, but an honest effort WON'T betray you. To take an easy path, which may be a pipe dream, is a guarantee of failure. We all know the formula of IM, and the best formula is nothing but hard work. Behind every success, before you do outsourcing, delegating, automating, there is always an honest effort and intelligent mind to do all the work.
      I really don't consider it work, you got to build the house before you can live in it. After you've built the house you don't have to worry about water or heat or air. You just turn on the faucet, or flip the switch and periodically make sure it's all running correctly.

      Look at it as a business a real business. The owner of that business has other things to take care of, rather then postponing events, because he feels he needs to flip burgers that day. lol
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      • Profile picture of the author Walter Parrish
        I think you miss the boat if you think it's all about work.

        It should never be work or a job to you.
        It's passive, because you are doing what you love so taking care of thing's comes naturally. If i love music and I got a music niche, then I might write an article at least once a day on it.

        If you are in business and consider it all work then you might want to move toat business towards something you really like that isn't work. Then you can really make your passive income.
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  • Profile picture of the author Mark72
    True autopilot income is a myth.

    The internet changes so fast that whatever autopilot income stream you set up, you will need to spend some time and money maintaining and monitoring it if you want it to continue.
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    • Profile picture of the author mosthost
      Originally Posted by Mark72 View Post

      True autopilot income is a myth.

      The internet changes so fast that whatever autopilot income stream you set up, you will need to spend some time and money maintaining and monitoring it if you want it to continue.
      Obviously. The idea of truly passive income is geared towards dreamers who don't like the idea of 'actively' working to earn money. Sure, some websites and products can produce revenue somewhat on 'auto pilot,' but you still have to work hard to make anything happen.
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      • Profile picture of the author The free Life
        Originally Posted by mosthost View Post

        Obviously. The idea of truly passive income is geared towards dreamers who don't like the idea of 'actively' working to earn money. Sure, some websites and products can produce revenue somewhat on 'auto pilot,' but you still have to work hard to make anything happen.
        ...And you're a shining example of why I created this thread. You are blind to the business opportunities on the internet and something that helped me get out of that rut is to start reading internet success stories. Start reading Entrepreneur.com, start taking higher level business courses to educate yourself on how to grow a business.

        I created this thread to try and help people, and motivate other internet Entrepreneurs. As you can see I have no tag line selling a "internet marketing fool proof passive income system" I'm doing this to simply pass along information that was given to me and help others out who are looking for it.

        Passive income isn't for everyone as I've come to find on this thread, some people are happy doing what they're doing and working hard week after week.
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        • Profile picture of the author mosthost
          Originally Posted by The free Life View Post

          ...And you're a shining example of why I created this thread. You are blind to the business opportunities on the internet and something that helped me get out of that rut is to start reading internet success stories. Start reading Entrepreneur.com, start taking higher level business courses to educate yourself on how to grow a business.

          I created this thread to try and help people, and motivate other internet Entrepreneurs. As you can see I have no tag line selling a "internet marketing fool proof passive income system" I'm doing this to simply pass along information that was given to me and help others out who are looking for it.

          Passive income isn't for everyone as I've come to find on this thread, some people are happy doing what they're doing and working hard week after week.
          LOL. I've been earning a living "online" since 1996 and my company employs eight people.
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          • Profile picture of the author The free Life
            Originally Posted by mosthost View Post

            LOL. I've been earning a living "online" since 1996 and my company employs eight people.
            That quote mixed with your previous one...

            "Obviously. The idea of truly passive income is geared towards dreamers who don't like the idea of 'actively' working to earn money. Sure, some websites and products can produce revenue somewhat on 'auto pilot,' but you still have to work hard to make anything happen."

            I congratulate you on your internet success, and I genuinely don't want to take anything away from your hard work. You're missing my intention and your missing the point of this entire thread. If you have 8 employees I'd imagine you have significant income. Enough income to possibly hire/promote a manger to take over your roll? So you can have weekly meetings with this manager, have him/her send you daily emails of what she did and what happened in the company.

            See passive income is made up of those who have SOUND business skills and a dream of enjoying life itself. If you enjoy your work as well thats GREAT!!! You've figured life out!

            To me personally Time is the greatest asset in life and I'm willing to pay someone else to do my work so I have more free time to enjoy life!
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  • Profile picture of the author dadhere
    I started out promoting sites that had great offers that were recurring. I think I got lucky cause 5 years later I'm still getting nice payments from it. I've expanded to others as well but it saved me a lot of work. I just found a great site and promoted the heck out of it. It paid for my new car (almost) my son's braces, and a ton of other things.

    It just seemed the easier way to go. I'm glad I did now...
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  • Profile picture of the author Lightlysalted
    The truth is that making passive income is a myth unless you have an exceptional system. I have researched lots of IM opportunities and I have never come close to finding a way to make passive income, it's all about hard wok and effort.
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    • Profile picture of the author The free Life
      Originally Posted by Paid Surveys View Post

      The truth is that making passive income is a myth unless you have an exceptional system. I have researched lots of IM opportunities and I have never come close to finding a way to make passive income, it's all about hard wok and effort.
      That first sentence makes no sense, but at the same time it says it all. There are exceptional systems out there, created by people who stopped following the mainstream "systems" that everyone else uses. These are the people who really took some time to think outside the box and create an "exceptional system."

      Passive income is only a myth to those not willing to try it.
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  • Profile picture of the author Gerald Arno
    Banned
    That's exactly why so many warriors offer writing services because it's easy when compared to generating significant money through a list.

    It's easier to make $5 from a 500 word article then it is to generate 30 leads a day. It takes more skills to generate highly targeted leads day by day than it is to write 5 to 10 articles a day just for the sake of "instant cash".

    I would not consider article writers as online marketers, but rather as freelancers or employees. They don't take much risk to get their business to greater revenues.

    Successful online marketers are people who take well considered risks by working hard on difficult tasks.
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    • Profile picture of the author The free Life
      Originally Posted by GeraldGigerl View Post


      It's easier to make $5 from a 500 word article then it is to generate 30 leads a day. It takes more skills to generate highly targeted leads day by day than it is to write 5 to 10 articles a day just for the sake of "instant cash".

      I would not consider article writers as online marketers, but rather as freelancers or employees. They don't take much risk to get their business to greater revenues.
      Right on Gerald
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  • Profile picture of the author TheBlueWizard
    There is no such thing as "passive" income. At some point or another your always going to have to manage things. Even with adsense websites or sites that are ranking with SEO.

    Even if you reach the point of hiring a project manager to take of most things for you; your still going to have to be on top of things.
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    • Profile picture of the author The free Life
      Originally Posted by TheBlueWizard View Post

      There is no such thing as "passive" income. At some point or another your always going to have to manage things. Even with adsense websites or sites that are ranking with SEO.

      Even if you reach the point of hiring a project manager to take of most things for you; your still going to have to be on top of things.
      Managing and working are two separate activities that shouldn't be compared as equals. If you have to actually do the work every day yourself to keep money coming in your doing "linear" work.

      However if you simply have to manage your company and you've taken the time to implement detailed systems for exactly how you want things done, you have the opportunity to take a day off, or take a week off whenever you please and guess what......You're company is still making money. That's passive income.
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  • Profile picture of the author fedor50
    solid discussion you guys have going on here. making passive money online is the goal that everybody strives to achieve but it also does take consistent hard work. you must continue to be creative and learn and take action.
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  • Profile picture of the author Alex.R
    The term "Passive Income" is a very bad and misused Phrase.

    By definition the term "Passive" in the dictionary, amongst many meanings for that word, the main ones given are:

    1) "not active or not participating"
    2) "not working or operating"
    3) "lacking in energy or will"

    Many people try to sell this "Passive Income" theory, and it's totally the wrong mindset.

    The opposite of Passive is Aggressive, but that is too strong a word, I would use the word Assertive. This is a synonym of aggressive along with dynamic, bold energetic,enterprising and vigorous.

    If we use the phrases "Assertive Income" or "Dynamic Income" it denotes the meaning of work involved, maybe people don't what to hear that though.
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  • Profile picture of the author Allissa
    Banned
    "passive income" is more often than not a myth. It's been used in the Network Marketing (MLM) industry ever since it began, yet it doesn't come close to existing there (I know - been there, done that!). So be careful evaluating a "passive income" opportunity, as they are few and far between, when you look very closely at all its elements.

    For example, you SEO a site to rank well on Google, and then it's generating passive income for you. Well, that's only true long as it's ranking on the first page of Google, something that rarely lasts for very long!
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    • Originally Posted by Cali16 View Post

      Have you actually implemented your mentor's plan so that you're now making passive income on autopilot?
      Originally Posted by joseph7384 View Post

      You only answered part of the question but you did not give an answer to the part that I have highlighted, so could you give an answer if that happened on that beautiful Saturday morning that you speak of.
      It would seem that the OP just got received the knowledge that sparked the insight that inspired this post. How on earth could they possibly have had time to implement the teachings and NOW be making passive income?

      I think sometimes, as jaded marketers, we get so caught up in asking for income proofs that we forget to stop and simply see the idea.

      I'm new here. This just stood out to me as something that should be addressed.
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    • Profile picture of the author The free Life
      Originally Posted by Allissa View Post

      "passive income" is more often than not a myth. It's been used in the Network Marketing (MLM) industry ever since it began, yet it doesn't come close to existing there (I know - been there, done that!). So be careful evaluating a "passive income" opportunity, as they are few and far between, when you look very closely at all its elements.

      For example, you SEO a site to rank well on Google, and then it's generating passive income for you. Well, that's only true long as it's ranking on the first page of Google, something that rarely lasts for very long!
      Hi Allissa,

      That's a great point to bring up! Marketing your product should be a daily routine to grow your income. But, again where people miss the opportunity here is by creating a detailed marketing system for their product based off of what has worked well for them and outsource the marketing so you can strictly work on selling/developing another product. So now you've created 2 streams of income and you're not stuck doing the busy work.

      Once you've built enough streams of income you will have the option to do very little work if you choose.
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  • Profile picture of the author The free Life
    For everyone who keep's posting that passive income is a "myth" I want you to send a friend request to Tim Ferris on Facebook (author of the 4 hour work week) and post on his wall that passive income is a myth.

    There are literally 1,000's of ways to generate passive income. If you don't believe there are, go on Amazon and buy the book's "One Simple Idea" by Stephen Key and "The 4 hour work week" by Tim Ferris.

    Both will open your minds to the concrete opportunities that are available to all of us.
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