Today I want to share some information about the passive income lifestyle. You know, doing work once and earning from it virtually forever.
I’ll show you how your passive income streams should work, then I’ll share some of the passive income stream strategies I’ve used successfully over the years.
But first… can you really set something up once and benefit from it forever?
Well, sort of.
Though you’ll need to tend to your passive income streams over time. Even the best passive income sources require some level of ongoing work and oversight.
However, if you pay attention to changing conditions and learn to adapt when needed, these income sources can go on virtually without end. It won’t take nearly as much work as it did in the beginning, but some level of work is still there.
You should think of passive income streams as if they were part of a garden.
You do most of the work in the beginning. You tend to the soil, plant the seeds, and water them. They sprout and bloom and produce fruit and you’re happy.
If you never tend to that garden again, the plants might still grow for a while. But they will also be overtaken by weeds and slowly wither away from lack of water and attention. They’ll never be high producing and beautiful again and will eventually die out altogether.
If you take just a little bit of time to water your garden when it needs it and to weed it when it needs it, it will grow to be big and beautiful and will produce for many years to come.
It will grow while you’re sleeping and while you’re away for a few days. It will grow while you’re goofing around and doing the things you like to do. It will grow while you’re building another garden to double your reward.
But you have to come back to water it sometimes and pick its rewards so it can grow more. You have to weed it and tend to it and put loving work into it.
It’s harder in the beginning, when you’re setting the garden up. It’s so much easier and so much more passive once it’s gotten going. It’s so rewarding and so amazing that it does most of its work while you’re not even there.
Your passive income streams are exactly the same way.
Think of them as a garden that you work hard to set up and return to tend to when needed. If you’re away for a few days, no big deal. If you’re sleeping, no big deal. If you pay someone else to tend to it a bit while you’re whipping around the world, traveling in style, it still grows.
The same is true for your passive income streams.
You set it up and do the hard work in the beginning. You tend to it every now and again. You make changes when conditions change. You hire people to do the work you don’t like to do. You keep your eye on it and do what you can do to help it grow.
There are some passive income streams you have to tend to more in the long-term than others. There are others that are pretty much hands off that only need a tiny bit of TLC.
The work you do in the long term can be minimal. These passive income streams can help you enjoy your life so much more.
Before I started my online business, I got income only when I was actively working.
In my “previous life” back in the 1990’s, I was a telecom worker — a trade I learned in the Air Force. While the pay was decent, the hours were long. I got paid only when I was on the job.
That’s draining and I could never go back to working in a situation where if I didn’t work for a particular hour, I wouldn’t get paid.
I want to “get paid” even while I’m sleeping and even while I’m on vacation. I want to be able to enjoy life at my at AirBnb’s wherever my wife and I feel like visiting, (paid for with my online income streams) and not have to work regular hours to get paid.
It’s a fantastic life, and I’m excited that you’re at the point where you’re serious about living it.
Get into the mindset of what a passive income really means. It means you can take a week off or even a month off if you want… but only after the income stream is set up and steadily producing.
Setting up passive income streams means you can travel, spend time with family and friends, and live life on your own terms.
So what are the best ways to grow a passive income lifestyle?
No matter which passive income stream you choose, you’ll be selling something.
You’ll be setting up buy buttons on the web. You’re creating ways for people to pay you. People in your niche should (eventually) run into your buy buttons all over the place, in many different ways, and for many different things. That’s how you have massive, passive success.
How many buy buttons do you have up right now? If you’re frustrated because you’ve been trying to earn money with your businesses for a while but you haven’t had success yet, really think long and hard about this answer. This is a forehead smacking moment for many people.
Do you actually have buy buttons active and ways and reasons for people to pay you online at this moment? Many, many wanna-be entrepreneurs do not – even people who’ve been trying to run online businesses for years. That’s something you have to correct.
With true passive income builders, you’ll be using the web to help you sell. I didn’t exclude offline methods because they don’t work or because you shouldn’t pay attention to them. There are an incredible number of ways to develop passive income streams offline. There are also ways to combine offline passive income streams with online passive income streams.
For the purposes of this blog post though, I’m focusing on online-only income streams because they are most accessible to the highest number of people and helping people with online income streams is my specialty.
With these passive income streams, you’re going to set up a system where your sales pages and buy buttons on the web will be selling for you 24 hours a day, seven days a week. Your buy buttons and opportunities will be active on the web, whether you are actively present to “sell” or not.
Once you get them up, these buy buttons and income earners will earn for you whether you’re on vacation or whether you’re deep into your next project.
You’re going to stack and combine successful passive income streams over time.
So where will all your buy buttons appear?
Here are five passive income generators you can start setting up right away…
- You can start blogging about an evergreen topic you enjoy. You’ll steadily gain an audience and be able to recommend the best solutions for that niche at your own blog. This strategy can build you passive income that will pay you for many years to come.
- You can write books related to your niche to publish on Kindle — every Kindle book you publish can earn passive income for years. Work once, get paid virtually forever.
- You can create and sell an info-product on WarriorPlus and let affiliates sell it for you. Just a few JV partners can launch an entire business for you that you can multiply over and over with subsequent launches.
- You can build a highly profitable buyer’s list via your blog and your info-products and set up a complete sales funnel for those who sign up for your list. You can fill your autoresponder account with email marketing messages that help your subscribers on auto-pilot, and earn you money in the process.
- You can use your email list, your blog and your info-products for affiliate marketing. You’ll be helping your followers and earning commissions by recommending only the best affiliate products.
The combination of things you can do is endless! As you can see from the list above, each strategy builds upon the others.
Your goal should be to set up passive income streams that make it so that people can’t research or read in your niche without running into your name, your products, your buy buttons, and your content!
Always be present on your own blog, on social media, and other e-book platforms, in email and in marketplaces in your niche. If you do this and get a lot of buy buttons on the web, you can grow the income of your dreams.
Start small and work your way up. But most of all — GET STARTED RIGHT NOW!
P.S. Need great content? Here’s where I got the template for today’s post.