5 Steps To Create a Passive Income (target 6 figure)

FIRST STEP FOLLOW ME

With access to a computer and the internet, the prospect of starting an online business and achieving financial independence is now feasible for virtually anyone.

The only way to make money online is to have paying customers.

« Doing the work is no guarantee of success, you have to be working in the right areas and doing the right things »

Passive income refers to the earnings that are generated with little to no effort from the individual who is receiving them. This type of income is typically earned through investments, rental properties, or other businesses where the owner is not actively involved in the day-to-day operations.

Passive income is different from active income, which requires a person to actively work to earn money, such as through a job or a business in which the individual is actively involved in managing and operating.

Some examples of passive income streams include rental income from real estate properties, dividends from stocks or mutual funds, interest from savings accounts or bonds, and royalties from creative works like music or books.

Passive income can be a valuable source of additional income for individuals who want to supplement their active income or generate income while they are not actively working. However, it typically requires an upfront investment of time, effort, or money to set up the income stream.

My strategy is to make 6 figure business and passive income working from anywhere you want and working only 1 hour per day.

Passive income requires several things :

• Having traffic is a most important thing, no traffic = no money
• Having something other people want and willing to pay you to get
• Credibility on the net

Creating a passive income from a Small budget :

Some important questions you should consider to help you decide on your best approach are:

• Do you have a product or service you wish to sell? This can be a product you have created whether physical or intellectual.
• Do you already have some sort of presence on the internet, a website, blog or social media accounts?
• Do you have a budget?
• What is your internet experience?
• What will you have to learn to be successful? »

Tools :

• Social media
• Blogging with wordpress
• Freelance service (arbitrage servicing)

Creating a passive income from a Large budget :

• Stock market trading
• Crypto trading
• Forex

Beginning with Different Strategies and Ideas :

• Online advertising (AdSense, media.Net, Chitika)
• Affiliate marketing is a type of performance-based marketing in which a business rewards an affiliate for each customer or sale generated through their referral. The affiliate promotes the business’s products or services through a unique affiliate link, and when someone makes a purchase through that link, the affiliate earns a commission. (Amazon associates, ClickBank, junction, dijiResults,
• Freelancing
• Search Engine Optimization SEO
• Simple Virtual Assistant Jobs
• Writing Reviews get paid for writing reviews of their products and services
• Selling e book
• Online Courses online

Sell Physical Product Online :

• Ebay, Craigslist, Etsy
• Reselling other people’s stuff on eBay
• Dropshipping (using youCan or shopify)
• Selling digital products online
• Selling software

For writing creating :

• Squidoo
• HubPages
• InfoBarrel

I hope it have given.you some practical ideas on some of the different ways to go about building a passive income.

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