I am sure that you have watched a video advert on Youtube, or received an email in your inbox stating that you can earn a “Passive Income’ generating a six-figure monthly income.
Overnight you will be earning unlimited amounts of cash, with either very little or no effort required.
Does this sound too good to be true?
Well, the answer is Yes!
Unfortunately, there are a lot of websites out there that offer these get rich quick schemes where for a small investment of a few hundred pounds or dollars, you will earn a monthly passive income of over six figures.
If you have no idea of what it takes to generate a passive income from an online business, you could invest your money with good intentions and end up being extremely disappointed.
What is the truth about earning a Passive Income?
Definition of Passive Income
Examples of Passive Income
- Rental income and incoming cash flow from property or any piece of real estate, and interest from owning financial assets.
- Royalty payments made by one company (the licensee) to another company or person (the licensor) in exchange for the right to use intellectual property (book, music, video) owned by the licensor.
The problem is that these online marketing companies fail to explain is that it does take time, hard work, and continual financial investment before these Online Business Systems to start creating a passive income. Anyone that runs a successful Online Business will tell you that it hard enough to get a subscriber to open your email, let alone to spend thousands of pounds or dollars on your products. The road to creating a passive income from Affiliate Marketing is not an easy pathway, but there is great potential to generate a good source of income and to create a lifestyle where you no longer have to work from 9 to 5.
Before any online business starts generating a passive income, your brand has to become established within the market place. (known, liked, and trusted). This could take a few months or it could even take a few years. Once you reach the stage where you have attentive followers on social media, a list of over 10,000 subscribers, and a catalog of high-quality products then the world is your oyster!
When you finally get to the stage that you have an Automated Online Business System in place that is generating a good source of income, it is important that you maintain it to ensure that you have a steady flow of passive income for years to come. It is essential that you are keeping abreast of any new market trends or any new competitors within your chosen field. If you start to get complacent that you are a market leader, your “Passive Income” could soon become “Dormant Income”.
Blockbuster, Nokia, and IBM were all leaders in the market place but did not evolve their products to meet the demands of the consumers, and were overtaken by the likes of Netflix, Samsung, and Apple.
You can create a passive stream on income from an Online Business generating six or even a seven-figure income, with the added luxury of working from anywhere in the world that has an internet connection. The vision of financial freedom of earning money twenty four hours a day, three hundred and sixty five days a year can become your reality but you have to read in between the lines to avoid failure and disappointment.
The difference between passive income from renting real estate to an online business is that you can generate a passive income instantly from renting real estate.
Generating a passive income from an online business will take time for you to establish your brand and your authority in the marketplace.
If you want a successful online business generating a passive income, you have to be prepared to invest time and money to get your business off the ground which could entail that at the start you are working from 9 to 9 before you can ditch your 9 to 5!
If you would like more information on how to create a Passive Income and to set up your own Online Business. Please click 0n this link for my “On-Demand Video Series”
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