The Webster definition of passive is: not actively taking part, or obeying, not operational to name a few. To be passive in business with those definitions could possible hinder you from making a large sum of money. So why would I suggest staying passive?
I have a different definition that just could mean all the difference between making money with online businesses, and just making a little bit of pocket change.
First let me talk about active about “active income”. The following can apply to active incomes.
• Work for someone else
• Work for an hourly rate
• Work so many hours a week
• Work so many weeks a year
• Make money for the other person
You can only make money if you are actually putting in the hours. And unless you’re like a professional whatever, you cannot dictate how much an hour you get paid. You have so many limits placed on you.
Now let’s talk “passive income”. This is so simple it will knock your socks off. The following can apply to passive incomes:
• After putting in initial effort, you keep getting paid.
And what I mean by keep getting paid is, it is recurring, every week/month/day whatever. As long as the service you provide is still being paid for, you will be paid. No hours to account to. No hourly rate. This can be 24 hours a day 365 days a week.
Wow! What else can you say….
Yes you do have to put in work time; it is unrealistic to think you can get something for nothing. There are no you don’t have to do anything, and can get rich quick doing it, schemes.
But if you have a basic knowledge of how to build an online business, you can make a passive income. There are many different forms of business that you can choose to work. Here are a few.
• Selling your own products
• Promoting other peoples products
• Hosting ads
All of these have the potential to make you a very good income, with little up keep, after the initial set up.
Learning is the most important step, so when looking to get started with your own business, unless you’re already a guru at this, finding a product that will teach you, and always be there to help you make money is important.
Good luck with what you choose, and have fun!
