Passive Income Idea – What Questions Should I Be Asking?

The very thought of being able to earn a living passively without having to do a great deal of work will appeal to most people – well if it doesn't appeal then there must be something dreadfully wrong with you.  The thought of earning a passive income  (preferably pots of it!) whilst sitting back enjoying life from the beach or from anywhere you choose to be in the world is a day dream of most of us indulge in. For most people this remains just that – a dream.  However, for those who are prepared to put in the effort and that have the vision and determination to see their dreams come true it does happen.  The concept of earning money whilst sitting back enjoying life has always been around but historically only the wealthy or landed gentry were able to do this.  They either had investments where they were able to live comfortably  from the income of they had business interests where others did all the hard slog and they just took the profits (this is leverage, more of that later).

However, the tables have turned and it is now not a matter of how 'well born' you might have been but how much of an entrepreneur you are.  Everyone has a computer or access to one and it is through the internet that the new wealth creators have been born.  Online businesses use technology that allow automation.  Automating means that the level of human input is decreased & the fact that the internet is the 'world wide web' means that the market place is global.  Welcome to the world of automated global business – passive income paradise.

So, how do you find a good passive income business?

Well there are a number of factors you need to consider …….

1  Your income goals both short and long term. A six figure income will not happen very easily with a low investment business opportunity and a low profit sale.  You want this online business to be as hands off as possible and do not want to spend hours chasing prospects for measly $20 sales.  With this in mind if you have serious income goals of a six figure income you need to be looking for a top tier direct sales online business model.

2  The business model needs to include a way of earning passive or residual income so that you also earn money from the efforts of others and not just your own.

3  How well automated is the business? You do not want to be spending time phoning time wasters and tire kickers who are not really interested in what you have to offer so you need an online business platform that does most of the work and that weeds all of these folks out.  You only want to be speaking to those who are standing in line, credit card in hand ready to buy NOW. In other words you need something that does all the selling, telling, sifting and sorting.

4  You are going to need cutting edge online marketing education program. Without learning to drive visitors to your web site you do not have a business.  You also need this marketing education to be ongoing as the internet is a constantly changing dynamic organism and changes happen fast and furious and you have got to keep ahead of the pack.  In short you need to learn how to sell anything to anyone anywhere online.  This aspect is the most important part of the puzzle because once you learn how to sell, you can sell anything.

5  You need a mentor who has already succeeded and who is willing to show you how they did it, this will cut months if not years from your learning curve and is using leverage.

6  You need a mastermind group/community of like minded entrepreneurs who help, support and empower each other.  There is a power in the 'group' that does not exist with the 'individual'.

The concept of 'get rich quick' does not apply in serious passive income generation as it takes some time and effort to establish a good strong solid online business.  However, the rewards that a strong internet business can create are long lasting and genuine.  Earning a six figure income for only 4 or 5 hours work per day is not unrealistic if all of the above are in place and if you have done the preparation and groundwork.  All that then remains is for you to sit back and let your bank balance grow whilst you enjoy the finer things in your life.

The best legitimate passive income ideas are often the ones hidden from view – where the entrepreneurs quietly and diligently go about creating their lucrative online businesses whilst training others to become serious entrepreneurs so that they in turn can train others to do the same.  These are the people who truly can make dreams come true and these are the people you need to find to learn there secrets!

 Brigitte Mehr is a top Internet Marketing trainer & coach she specialises in teaching personal branding and can be found at www.BrigitteMehr.com and http://www.marketingforonlinesuccesss.com/

Passive Income Business – Earn More Yet Work Less!

Passive Income is the dream of thousands if not millions of people.  Most of us have experienced the sheer grind and routine of 9 to 5 and most of us realise that this is not what we want to be doing for the rest of our lives.  The drudgery and prison like existence that this affords us fulfils a basic need, it is a way of earning money to exist and nothing more.  There are very few people who can actually admit hand on heart that they truly love what they do most people would love to quit 9 to 5.  Life should be about having the time and choices to do what we want when we want and with whom we want. Most people dream of earning a very good living passively whilst getting to spend their time doing other things.

In recent years since the dawn of the internet business it has become easier to earn a very good living without needing to rely on the rat race and a traditional ‘job’.  This is because the internet has created a virtual world for business operating 24/7 on autopilot. Almost overnight the traditional ways of doing business have been changed, the marketplace has opened out into a worldwide market and online business systems and online business models have evolved which remove much of the effort.  Welcome to the world of leveraged and automated business. A world where it is possible to actually remove yourself from the equation for the most part and where your efforts are duplicated over and over again.  Imagine cloning an army of yourself that works on autopilot.

Internet entrepreneurs do just this.  The traditional model of an entrepreneur who set out alone with a good idea worked very hard and eventually became a success has now evolved into a model where you may have a good idea and do set out alone BUT now you may harness the power of the internet and automate. Or better still be able to carbon copy an already proven and successful system

The internet is not experiencing a recession, in fact month on month it is growing as millions of people are realising the true potential of working online from home. In the world of ‘old fashioned’ business the daily stories of redundancy, bankruptcy, cash flow problems dominate the news.   Employees face a very uncertain and stressful future often not knowing from one month to the next if they have a secure future or not.  This is not a satisfactory way to live it is an existence and a very stressful and poor one at that.

Passive income breaks down into 2 main categories and the best passive income ideas combine both these categories so that you earn some income from your own efforts and also leverage the efforts of your team. 

Residual income model – This can be generated by selling to the same group of customers for instance as with monthly sales of vitamins, or commissions generated on a regular insurance policy. It is where the 1 action creates more income over time. This income is dependent on still making that same sale month after month and requires effort on your part to generate more similar sales.

Leveraged Income – This relies on using the work of others to make income so for instance you may have a web site promoting an ebook that was written by someone else, you sell a copy and you get a commission. In network marketing you work hard to build a team they make sales and you get commissions.  The key to this is that you generate an income from other people’s efforts.  You teach 1 person how to run their business then they go out and teach others.

It is now possible to have web sites that qualify your visitors, where they then get led down an automated sales funnel which qualifies them further and automatically gives them more information & they can then go on to make a sale online.  All of this without the need for human input at all.  This is the sheer power of being able to automate your efforts as the automation aspect frees up your time.  Ask yourself where would you rather be, working or out having fun?

You can then go on to create multiple streams of income for example, if your business creates income from a small initial sale then creates a larger income from bigger secondary sales and also generates income from regular subscriptions and then generates income from the sales of others ie your team. This is true leverage and passive income at its best.  The better your skills at branding particularly branding yourself the more successful you will become. The only input required by you is the initial setting up and regular monitoring and some regular input of valuable content.  The day to day drudgery of sending out mails and following up is taken care of automatically.  Income generated in this way can be to 6 or 7 figures yearly.

With the right mentor (make sure they are successful themselves), with good education, with the right business model and with the right automation in place your income can be pretty much whatever you want it to be. So, take action and do your due diligence and make those dreams come true.  Remember there is NO recession here out on the world wide web and creating a 6 figure income passively is already a reality for thousands!