What is passive income, how to get it

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1 year ago

Want to earn passive income and don't know where to start? If you need a little extra money like everyone else, especially during this pessimistic time of the economy, put everything aside now and read this detailed income guide with your full attention. When you finish reading, you can be sure that you will have all the information you need on this subject.

What is passive income?

Passive income is a method of generating income with little or no time spent. In earning this type of income, you do not have to make a regular effort such as a part-time or full-time job. The main purpose of passive income is to have a regular income stream by allocating as little time as possible. If you have enough financial resources, you can easily earn income by making financial investments. For example, you can rent your house or buy stock. However, in cases where you do not have enough financial resources, it is possible to earn passive income by using your intellectual resources intelligently.

So where should I start?

Today, you have to know the logic of establishing a system in order to earn income passively. Otherwise, even if you manage to earn income passively, you will have a hard time maintaining it. As a result, if you do not have the financial resources to invest, you should learn how to maintain your passive income source.

When many people learn that passive income doesn't take time, they start looking for ways to passively earn an overnight income. However, the logic of passive income is to establish a system where you can earn a regular income without having to make an active effort day by day. Of course, it takes effort and time to set up the system, but once you can successfully set up the system, you don't have to spend a lot of effort to get regular income. The system you have successfully installed already works by itself. Therefore, if you do not have financial resources and you intend to earn income passively, you first need to learn what it means to set up a system and its basic logic.

Misconceptions about passive income

FALSE INFORMATION: Passive income is a very short-term project.

TRUE INFORMATION: You cannot generate income without an investment. If your investment is not based on a financial source, it should be based on an emotional, intellectual and social source. So if you don't have a shop to rent, then you can passively generate income by demonstrating your emotional resilience, knowledge or social circle. For this, you should allocate a time period of at least 6 months-1 year for yourself.

MYTH: Only rich people get passive income.

TRUE INFORMATION: It is of course true that people with passive income and financial freedom get it more easily. However, the reason for this is the importance of having the right information, access to the right people and having the right mindset to establish the right system, rather than the abundance of financial resources. If you don't try, you will never progress. If you don't ask, you'll never learn. If you don't start, you'll never finish. Be brave and determined.

FALSE INFORMATION: Nobody pays me anything.

TRUE FACT: If you think no one will pay you, chances are that no one will pay you. However, if you put a valuable product in the middle, those who see the value of your product will agree to make a payment accordingly. The important thing is, are you ready to put value?

Passive income suggestions

To earn passive income, you must find a way to turn your knowledge and skills into a long-term money without investing too much of your time. For this, you must either use an existing system or set up your own system.

Tip 1: Buy stock photos

Of course, you will have to work hard to take the photos at the beginning and what you need to pay attention to in order for them to be sold. However, if you invest a certain amount of time in this business, then money will come to your account as passive income every time your photos are purchased.

Tip 2: Start a blog

If you are confident in your writing skills, have an expertise in a subject, or can research your interests for hours without getting bored, then you may want to consider starting a blog. If you don't know where to start, Blog projects are long-term projects and it may take a long time for your posts to be noticed and clicks on your site to increase, but after you reach a certain audience, you can get ads on your site or you can earn passive income by participating in affiliate programs, the details of which you will learn in the next article.

Tip 3: Join affiliate marketing

In a world where everyone links, why not earn commissions by sharing links! Is not it? Content production is indeed a rising trend, and the best part is to take advantage of commissioned link programs called affiliate links. What you need to do is produce written, audio or video content and have an audience.

Tip 4: Write a digital book

You can prepare a digital book if there is a subject you are specialized in. Digital books are easier to sell. People who know you as an expert can buy your digital book by paying a certain fee. The systems you need to use for this are also not very complicated. Moreover, since you can prepare the digital book once and sell it many times, it will be more than worth your time.

Tip 5: Write an application

They don't say "learn software" in vain! Kidding aside, if the idea of ​​developing an app excites you, ask Google "How to Make an App?" When you write, you will come across a lot of resources online where you can take lessons on this subject. If you are determined, you can write your applications and upload them to the Apple Store and Android Market and earn income passively. Moreover, what you will learn in this process may present you with more opportunities than passive income. keep in mind!

Tip 6: Start a podcast

“I don't know how to edit video at all, isn't there a slightly easier way?” Those who say can consider starting a podcast business. Podcasting is an increasingly popular form of broadcasting among content producers. Moreover, since visuality is not involved, you have the opportunity to produce really interesting, enjoyable and informative content without having to worry about aesthetics. Of course, you will need to build an audience in order to passively generate income from podcast publishing. However, it is possible to gain a faster audience on podcast platforms where there is less competition.

Earning passive income depends on long-term projects and understanding the logic of a self-functioning system. Of course, not all income methods are limited to this. There is no limit to what you can do to earn income passively in the digital world. If you are willing to passively earn income, then you can give one of the above options at least 6 months and see how far you can go.

May you earn a lot of money, your pockets are full of money! Love…

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1 year ago