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I want to start a passive income business and grow my existing one..help?

Discussion in 'Business & Tax Advice' started by wlfpck, Apr 29, 2016.

  1. wlfpck

    wlfpck Newbie

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    Hey there, been reading a lot of threads in this forum and I am amazed at how much some people on here make. However I noticed, that a lot of threads and methods are kind of "old".
    So I decided to start this thread to ask 2 questions to the more experienced people here:

    1) I want to start something on the internet that will basically bring me in some passive income with little to no work. I am talking about a goal of 200-300?/month. What is the best and easiest way? I don't refuse to put hard work in it at first, as long as I know this will eventually work out.

    2) What is the best way to earn money on the internet with design? I do mostly Motion Graphics, Websites and almost anything design-related basically. I tried freelancer.com, but I hate to work hard and not get the job in the end (because clients will prefer lower-payed offers over quality) and fiverr.com..but I don't manage to upsale stuff, which, if I understood that right, is the key to making decent money with fiverr.

    What are your experiences? I would love to do a living online with anything that suits my skills and honestly it is frustrating seeing people make thousands of dollars online.. :D
    Greetings
     
  2. ChanzGrande

    ChanzGrande Elite Member

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    1. There really isn't much in that vain online. Even with paid models and methods you're still going to be putting in the work.

    However, in my opinion the best and most stable approach is to build actual websites with direct monetization in mind. It doesn't matter if it's clickbank, general SEO, selling products or services, membership sites, Amazon, Ebay, etc... Anything like that which isn't trying to capitalize on a loophole or short-term earnings opportunity is what leads to residual earnings over time.

    This point is expressed repeatedly throughout the forum, and it remains true. Just treat your business like a business, and then it can grow and return residual earnings.

    There's always going to be more work though unless and until you sell a website. You should assume you'll always be working on your project somehow, or you shouldn't bother to do it at all.

    There is no "work now" and "earn forever" reality. It is a good tactic often used to sell things to people though. The idea of it sounds amazing - perhaps even too good to be true?

    2. It seems like a strange question actually. Clearly the best way to earn money on the internet with design is to design and sell things.

    If you are not comfortable with the available venues for acquiring work, then you should consider creating your own storefront with actual portfolios of the work you can perform. Then you need to establish some initial sales via those initial channels you appear totally unprepared to work. Once you get some initial clients moving through it will start to get a bit easier to bring on new people via word of mouth, advertising,
    or other outreach efforts.

    Dude - I think you sound like someone who is not prepared to actually work much at all so I can't really offer good direction because your questions are diametrically opposed in their construction. How can someone earn tons of money with almost no work? For the most part they cannot, but there is luck, chance, and probability, so maybe your best bet is to become a gambler.

    Many people like you find the best current wave of earnings opportunity and look for the exploits because they don't enjoy earning online in any way other than the quick hit scenarios. I used to be like this in the movies and CPA niche with content locking for many years.

    The hardest part of this type of journey is the let down when the gravy train ends. Had I invested my time and energy back then working on actual real-world models like SEO, Affiliate Marketing, Real CPA, Youtube(non-spam), etc... then I could have established a real business and my work would have paid better and longer.

    Don't make the same mistakes as myself and others. Even with these quick hit models there is always a certain amount of work being done. I used to work 10 hours a week and generate $3k/month with some of those models over the years, but when the train crashed and burned - so did my motivation to work on new things and my earnings virtually disappeared <-- MORE than once.

    My best advice to you is ignore the natural tendency of humans to seek the path of least resistance to the pot of gold. Stop thinking about how you work less and earn more, and start thinking about what your business says about you.

    The notion is work smarter not harder. Nowhere in that sentiment is even the semblance of the idea that you work less. Working smarter still means working. Get this fundamental concept ingrained into your mind and as you take on new projects start thinking about their long-term prospects and recognize that if you do this thing online right then you're not working at all actually.

    You're simply living your life in accordance with your goals and aspirations. You're building your brand, your business, your product, your life. The answer to both of your questions in my opinion is unfortunately - work.
     
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  3. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    What is wrong with a job at McDonalds?
     
  4. ydolem11

    ydolem11 Newbie

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    One of the best ways that you can make passive income is by setting up a forum. First, you want to pick a niche that you can sell products and services in. Then, set up a forum (it's really easy since there are a few different platforms for it) and start getting posts. Forums are predicted to be the future of SEO and ecommerce and often rank better than traditional "blog" or "article" sites for a couple reasons: more long-tail keywords and multiple daily updates.

    These can both help drive traffic to your site, and the best way to get high-quality posts is to pay for them. Contenvania is a new site created by a forum owner who was frustrated with the other paid forum posting sites that just weren't giving him the quality posts that he needed. So now he has a team of dedicated writers and is looking for a way to provide that same service to other forums. You need to have regular posts that are going to contain the keywords that you need.

    Once you have your forum set up and are regularly adding "points" to your balance, you can sit back and relax and let the money flow in. Managing a forum typically takes up very little of your daily time.
     
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  5. wlfpck

    wlfpck Newbie

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    thanks for that very detailed answer, I really appreciate it! However, I think you got me wrong. I am not looking for ways for not working at all, I am just looking for ways that pay off in the long term, meaning, I am willing to put in a lot of work in the beginning (as I mentioned) but I don't want to work 10+ hours a day for 100€, honestly.

    Also, I am not looking for a path of least resistence to the pot of gold...As said, I am willing to put several hours a day into something, as long as I can be sure that it will pay off in the long run..
     
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  6. wlfpck

    wlfpck Newbie

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    I don't like to smell like a fry, d'uh.
     
  7. ChanzGrande

    ChanzGrande Elite Member

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    Well I'm pleased to hear that. You might want to revisit what I wrote above. It's true I extrapolated some data from your post, but I also left the entire bread trail for the things that do work when someone puts in the effort. Build a business man. It takes work. You're going to have to put in some 10+ hour days that only result in $100. Damn, I still put in plenty of 10+ hour days that don't immediately return over $100 in earnings. In fact, I have some 10+ hour days with almost no revenue resulting directly from those efforts.

    In case you missed it - I was pretty explicit in stating some common mistakes people make(including myself), and highlighted several earnings opportunities for those willing to invest real time into a real business. Affiliate marketing, CPA, Video Marketing, Article Marketing, Viral Content Websites, AdSense, Amazon, Ebay, Membership Sites, Design Services <-- They all work as long you work, and can provide stable long-term residual earnings. Pick one or something in those veins and work.
     
    Last edited: Apr 29, 2016
  8. wlfpck

    wlfpck Newbie

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    I absolutely understood your suggestions and thus I'm thankful for the very detailed answers.
    I have several ideas aswell, two of them being Affiliate Marketing and the other being Dropshipping (and selling on ebay/amazon/own website). However, it is pretty difficult to start a dropshipping business with little to no capital in my opinion..is that correct?
    Afiiliate Marketing would be a great start I think.
    What exactly do you mean by "membership sites"? Of course, I know what a membership is, but I think I don't quite understand how a membership site (=a forum?) can make money.

    Talking of forums, I love the idea that was suggested by ydolem11 since I would love to start a design/tech community
     
  9. ydolem11

    ydolem11 Newbie

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    Forums make money the same way as other websites (affiliate marketing, ads, etc.), but they have a couple of advantages. You can still include "blog" or "article" sections where you would post your keyword-rich informational sections. You can also dedicate specific sections to product reviews where you start by reviewing a product and including your affiliate link to that product. As others also review that product and post longtail keyword questions about that product, that thread becomes a reliable source for people who are looking for reviews and information on that product.

    The real trick with earning money in forums is to have lots of quality posts, which you can't really do on your own, and can't really wait for people so show up and start posting. That's where Contenvania comes in. They can provide you with high quality posts from writers from around the world whose job and goal it is to get your site ranking. If you want more info about it, let me know. :)