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Three Powerful Passive Business Models - A Five Minute Guide
Do you like the sounds of making money without having to work?
That’s pretty much a rhetorical question. I am pretty sure that the answer is going to be ‘yes’ for the vast majority of people. Why wouldn’t you want to earn money without having to work?
Of course for most of us, this isn’t likely to become a reality any time soon and there’s always going to be effort involved in making a good living.
But while you might not be able to get ‘something for nothing’, there is a good chance that you can bring in profit that is vastly disproportionate to the work you do. And what’s more, is that you can stop ‘swapping your time for money’.
And in fact, you can do all that quite easily.
What I’m talking about here is ‘passive income’. This isn’t ‘getting money for nothing’ but rather it means setting up a business model that can eventually sustain itself with little-to-no input from you.
That’s right: you create an automated system of selling or of publishing adverts, or of recommending products and from there, you can continuously earn money… indefinitely!
So you have put work in but once you’ve done that. You can simply kick back and relax and let the cash come rolling in.
You aren’t trading time for money anymore. That means that you’ll go to bed and wake up the next day a little richer. And it means that you’ll be able to go on holiday and continue to earn. And it means that if a friend invites you out for the day, you can just drop whatever you’re doing and go – no need to tell employers or clients.
Better yet, because passive income is automated and requires no further input from you, that means that you can continue to repeat the same business model over and over again and thereby increase your earnings over and over again too! This is called ‘scaling’ and eventually, you can be earning massive money by having multiple ‘income streams’ all working at once.
It’s kind of amazing…
But Let’s Get Real: Is Passive Income Really That Easy? Can Anyone Do It?
But you’ve probably heard promises like this before right? Normally on ‘make money’ websites that promise expensive schemes that involve illicit activities, usually involving ‘tricking’ Google in some way or another and often involving a lot of complicated jargon.
You buy the ebook, you read through it… and then you just give up, frustrated.
Is passive income really possible for everyone? Or is it just a pipe dream?
The answer is that it is very possible – but you just need to think about it in the right way.
For starters, you need to recognize that passive income does not equate to a get-rich-quick scheme. There is a lot of work involved and you’re not going to start seeing massive money overnight. If you go into this expecting to get rich with minimal effort, then in all likelihood you’re going to come away very disappointed.
Instead, you should get into this looking for a way to supplement your current income and lifestyle and to earn extra cash without having to work hard for it constantly. Best of all, this is a way you can earn while doing something that you love.
Creating a blog or selling a product can help you to generate additional income without having to continuously put in long hours. That means you can do it on top of your regular business or regular job. And even if you only earn $50 a week – that’s $200 a month. That in turn is enough to go on a few extra holidays a year, to put aside some serious savings, or to treat yourself to some exciting gadgets.
And it’s all from writing about something you love and from creating a business model that you can really be proud of.
And once you start seeing that cash flow and you stop trying to ‘get rich’, you’ll find that it’s surprisingly easy to keep it growing and to keep that money coming in.