So when it comes to passive income, what is the secret to success? What should you expect from it? And without risking serious disappointment, how do you approach it?
Having the right expectations is the first thing to do. For instance, after putting in only a small amount of work, too many people expect to get money for nothing and to make a huge profit from a website or blog. What is very important to understand here is that passive income does not imply that for nothing you get money. This isn’t a fast get-rich scheme, and it takes a lot of work and a lot of intelligence.
As an example, let’s take running a website. While creators may seem to be under the impression that within a few days they can set up a website and begin to earn thousands of dollars from advertising, the reality is very different. Actually, AdSense is the main type of advertising used to make money from a website. AdSense is a form of PPC advertising that stands for ‘Pay Per Click’, meaning that every time someone clicks on one of your ads, you get paid. You don’t get any money if there are no clicks.
And so it follows that to make any serious money, you need to get as many visitors as possible. How many guests? That depends on several variables, including how well you have optimized the placement of your ad and how good the niche you initially selected is. What you can rest assured, though, is that at least a few hundred thousand will be required. In reality, if you read around the web and do your research, you’ll probably find that the average advice is that it takes $100 to make your website somewhere in the region of 150,000 views.
How long does it take every day to get to those sorts of numbers? I would argue that it may take most people at least a couple of years. And that’s only if you put in a huge amount of work to flood your site with excellent quality content constantly and in the meantime to continually promote your site and your brand. For the sale of digital products, the same goes. For the production of an Amazon Kindle. Or for using any of the other passive income models we’re going to look at here.
Why is this sufficiently important to deserve it?
Simple: because you’re going to be disappointed if you head into this expecting to make $100 a day immediately, and you’re probably going to quit out of frustration before you get anywhere. This is what is happening to the vast majority of individuals. It’s also essential because I don’t want any of you to run out and quit your day job right now!
What you need to do is scale back your expectations and make a steady attempt to boost your profits and build a business.
It’s not your goal to give up your day job. Anyway, not right away! Instead, your goal is to make yourself some extra cash that will make your day-to-day life so much more comfortable and enjoyable. It’s about financing your lifestyle and it’s about following something that you are passionate about. You’re not going to quit your day job or stop providing services online, to begin with. Instead, in the evenings, you will start devoting just a short amount of time to creating content, creating a sales page, or following through with any of the other passive income models that we outline in this book.
Choose something you’re passionate about and enjoy for the love of creating and do it. You should consider that to be a bonus if you make a little money on the side, not the main reason you’re getting started.
If you do that, then in a few months you might start earning an extra $10 a week — enough to treat yourself to something nice at the end of the month. That might climb to $20, $50, or $100 a week in time.
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