When we discover the wonders of passive income, most of us nine to five workers feel we don’t have the time to spend on generating what we perceive to be a random income.
We see it as random, i.e. some days we get no income from it at all and other days we ‘earn’ more than we thought. What we also might see is that it is just a small amount of cash, which is nowhere near to our salary, so therefore it’s not worth bothering with and certainly not worth giving up your job for.
There are a couple of things that perhaps you have not realised here. On the internet, your income comes to you day and night and at weekends, 24 hours a day, from all over the world.
There is also the concept of scalability.
What is so beautiful about any passive income streams is that they are easily scalable, meaning that you can add and repeat the process endlessly. When you have set up one on a particular subject, you can go and do something completely different and set up another one.
Setting up the second idea is a lot easier than the first as you have already introduced yourself to a lot of the tools and resources that you have already used, such as Google AdSense or YouTube. So the mechanisms for setting up your next passive income stream are known to you and you are happy to use them again for your second and ongoing ideas.
The only thing left for you to do is to think of some good quality content that you can give to the world in the form of a website, blog, video on YouTube or an article on one of many article directories.
So for instance, your first passive income stream, a website on dog training, only earns you a few dollars a month. Now you can set up another website on writing musical ballads, something that you have a passion for.
What you will realise is that as you produce more websites or videos or articles, the ones that you didn’t think would do well do and conversely, what you think is your best website doesn’t. This fickleness of the general public will drive you mad, but it’s still good watching the little bits of cash fall into your bank account!
Eventually, the combined little bits of income from each source will start to add up.
So remember that scalability is the answer to increasing your passive income in a slow but sure way, by giving people what they want in the form of good information and content. What that content is, is up to you!
- The Big Empty by Ritch Gaiti - January 25, 2021
- Know All Facts About the Great Art Clokey - January 24, 2021
- Subject To Investing After COVID – Is This the Next Big Opportunity? - January 24, 2021