You want to start to earn residual income and set up some opportunities but first you need to even understand the definition of this word. Most of us hear that term or we also hear the term passive income floating around in the money conversation circles. Well before you start to make anything or talk about it you need to have an understanding of what the word means so you know how to go about making it!
There is one big mix up that many people have when they think of the terms residual and passive income. Let’s get one thing straight right off the bat. Working from the Internet or from your home does not automatically mean that you are making passive cash streams. It means you are working at home and while you do have more freedom you still need to work all the time for your money to keep coming in correct?
If you want to understand the true definition of residual or passive then think about assets that produce money daily, monthly, yearly etc without you doing something specific for at that moment to get it.
Let me give you a few examples. The interest you get on your money in a bank or bond is passive. Once you put the money in any of the interest you receive from that cash you actually have done nothing for except the initial action. Another great example would be a website that you set up Adsense on. Once you put in lots of initial work and the site starts ranking well you will most likely be getting money coming in daily with no or very little maintenance.
So when you’re evaluating whether a residual income opportunity is really that then think about this one question. Will I earn money even when I’m not working. Remember many opportunities require initial work before they will turn into something truly passive. That is the true definition of this word.
If you want to start setting up some residual income streams and thinking and acting like the rich do then you are going to need to develop a mentality of being a bit unbreakable. You see what happens to many people that try and get into the money making game is when a problem comes up it’s a bit overwhelming to them and often causes them to give up. What you’re going to need to do if you want to build passive income is start thinking of problems not as problems but more as opportunities.
Ok I admit that last line might not sound to full proof to you so let me clarify it for you. What I mean is when you are studying and applying new things that you have learned about earning money don’t give up easily when things don’t go the way you’d like them to.
Another tip I’d like to offer is break everything into bite sized bits. Take this blog Income-King for example. I’ve decided that in the next 1-2 years that this will become one of the biggest resources on the Internet for people to learn about how to earn passive income online, through real estate, stock investing, and more.
Now that is a major task and if I look at what I actually have to do to get it to the point that I just mentioned then I should just give up right now. But you know what? I won’t and I figure I can do it. Why? Because I’m looking at it day by day. Of course I won’t make money off it any time soon but if I keep building day by day then down the road money is going to come in. If it doesn’t, well then I’ll just move on to another idea.
If you really want to set up a stream of residual income in terms of business chances or opportunities then you can’t let obstacles or problems slow you down. Once you decide on something don’t let anything get in your way. If a small problem comes up, crush it and move on. If a big problem comes up find a way to deal with it. There are lots of forces out there that will try to stop you from reaching financial freedom. There is one simple remedy to stop those forces – don’t let them stop you, remember that!
There is no such thing as free residual income when you start out in this game. After many years, some solid work, or some great investments you may be able to hit the point where the money is just flowing in residually. What I want to warn you about is not to fall for the gimmicks out there that teach you that there are was that you can make a passive income for free – simply not true. If you do find a simple and easy way that is free just let me know so I can do it and also write about it here at this blog.
The reason I decided to write this post is because last night I was surfing around YouTube.com checking out what kind of income opportunities people are talking about and pushing. There was one video that some dude made complete with hip hop music blaring in the background talking about all you have to do is mail a postcard to people and you’ll start making 100% passive income through this process. Every time someone makes a phone call and signs up you start making money. Do you folks honestly think that this sounds like a business you want to try your luck with and start putting time into?
Seriously what I want you folks to start thinking about is solid business ideas and practices. Build up foundations behind what you do and invest time and money into something solid as well as education. Don’t try and take the easy way out.
Getting financially stable and building up residual income streams is not going to be an easy task. Just think of it like that. If for some reason it comes to you a bit quicker then great but don’t think that it’s going to be free or fast or easy – if it was everyone would be mailing postcards and sipping cocktails on some sandy beach in the pacific.
Today I was doing my daily study of residual income on the Internet and I really started to think deeply about how websites get ranked and how to really make income online properly.
Basically I continue to come to the same conclusions. I feel that the only way to really build up a proper passive income opportunity is through a website with quality content and/or a solid business idea. I feel that the times of mini websites with mostly useless information is coming to a close as people really want to find information, products, and services that are relevant to them on the Internet. No one wants to do a search and find useless information people can find anywhere on the web. Just think about it for a second in the offline world only high quality businesses and services succeed – why should the World Wide Web be any different?
You’ll come across a lot of teachers or blogs online that will teach you how to quickly build niche websites and make some easy money on the web but I really am starting to disagree with this as an overall business strategy. It does work as a short term money making strategy but how long can a non solid foundation really last?
I will admit that I myself have several websites that are just out there to make some money but I can’t say that they are of high value or quality to the end user.
Recently my thinking has begun to change and to tell you the truth this is actually one of the reasons I started this site www.income-king.com. I’ve decided I want to build a comprehensive resource on the Internet where people like you and me can come and learn how to build passive income through positive thinking, marketing, branding, online web ideas, and much more.
So if you really want to get into a solid residual income business opportunity then start thinking of how you can add value with what you decide to pursue. If it’s a website or blog make it one that people love to use, return to, and get information out of. If it’s a product then sell something that is worth while and not just an EBook with an empty promise.
If you want to make residual income on the web then there are certain tips and tricks that you really are going to need to start following in order to succeed. Today I want to talk to you folks a bit about domains and the role they play in determining online success and income earning potential.
First of all if you want to be making income online you’re going to need websites right? Well a good URL or domain name is crucial in this game. The tricky thing is that these days most really good domain names have already been registered so you need to start getting creative with how you go about purchasing them for yourselves to use.
What I recommend to avoid this trouble is going the route of buying expired or used domain names off people who have no use for them. At one point they may have had high visions of earning a passive income online but in the end were not able to. A few places I uses regularly to pick up good domain names are Godaddy’s, tdnam.com and also a website that I love (usability sucks though) by the name of FreshDrop.com. At both of these places you can get pre-owned URLs starting from $5.
There are many benefits to buying expired or pre-owned names off the internet. One benefit is that you can sometimes get names that you wanted but had already been taken. The main reason I like to buy them is because Google really likes aged domain names. It places importance on a name that has been around for a while and therefore you can rank better in search engines. What this means to you is you’ll be making more income online!
When it comes to aged domains and making passive income online you’re going to want to try and get your keywords in the URL that you select. So if for example you have a website about “stock investment” that you’re trying to make money from then when you do your searches on either TDnam.com or Freshdrop.com try and have both words in the name is possible. If you can only get one like “stock” or “investing” that is better then having none!
Making money with Adsense is a great online residual income opportunity. Especially for anyone interested in making some money off a website that they are running that gets some steady traffic. You see the problem is that most people actually don’t understand how to properly build an Adsense website that will trigger the correct advertisements and that’s what I’d like to talk to you briefly about today.
As I’ve discussed before in some of my other posts on earning online income with Adsense is that doing well is all about selecting the correct keywords to work and also how to use them throughout your website properly. What I want to talk to you about today is how you should be using them in the titles of your post. If you stick to this rule as you work on your blog you’ll start to notice that your website will be triggering the correct advertisements.
So let me give you a little example here. If your website is all about stock investing then what you’re going to want to do is take that list and make sure that all the posts you write are using keywords from that list.
So for example if one of your keywords is “Making Money with Stocks” your article or post on your Adsense website would be something like this “Making Money with Stocks on the Internet”. This should trigger the correct Adsense advertisements that you are looking for.
The mistake that most bloggers or webmasters make when trying to build residual income online with Adsense is they don’t use their keywords in their title or much in their text for that matter. Remember this, Google is a computer and the way it understand what ads to trigger on your website is through certain elements and having keywords in the titles of your posts is one of them!
One of the most powerful ways to get into setting up your own residual income business is by doing it with a partner or the help of others. If you start developing your ideas and opportunities with people that you trust and respect, can work with, and have something to offer you then you’ll really start to see your efforts paying off and you’ll actually get a lot of work done.
There are many reasons why I recommend linking up and working with partners or other talented people. Many entrepreneurs that start out trying to learn how to build passive income businesses and opportunities work really hard but try and do everything themselves. This is fine and if you work very hard you will see success but if you work in a team you may see much quicker results and also the work may be achieved with more ease.
Let’s take a small example. If you want to start to make income online and set up a new blog or affiliate program website what are some of the things you’ll need? Writing, design, coding, promotion, marketing, branding, etc. You need to look at the list that you come up with and ask yourself what do you enjoy doing and also what are you good at. For the areas you are not so good at ideally you’ll try and find a partner to do it or at least hire someone out for some outsourcing. I can tell you that recently I’ve been getting into outsourcing some of my business research and writing for some of my money making websites and it works great!
Sure, if you’re just starting to get into making a residual income business work for you then trying to do many of the tasks alone is a great way to learn and I recommend it for sure. What I would like you to think about after you start to earn some money or feel that you are getting too busy with your current project is ask yourself “how you can I enlist in the help of others in a way that will benefit my business?”
If you’re really going to start to financial freedom online then you need to set up some kind of working patterns and flows. It’s really hard for some people to get into certain work habits but if you want to succeed in this game then you’re really going to need to set a working style up and then stick to it.
You see the problem with most people that just start out getting into this passive income game is they end up getting overwhelmed or since they already have a day job that they are doing they don’t put the required time in to this business that it requires. Remember it does take time to succeed and make things happen for you.
What I recommend is that you make sure to do at least one thing per day that relates to your online business opportunity that you are working towards. Of course if you have more time you put in way more time but I’m saying that even if you had a long day at work you still do at least one thing that is working towards you overall goal.
This can mean writing a new article to put up on your website, emailing some people to promote your business, registering a new domain name, and many other things. I’m not referring to reading. If you have time to read of course do that but make sure to get at least 1 thing done per day that relates to your current business. On weekends and other days put much more time into it of course but if you follow this advice not only will you feel good but slowly but surely you will actually get a lot of things done!
So from now on don’t let another day slip by you where you haven’t completed at least one task on your residual income business!
When starting to learn all about how you can earn online passive income you really need to choose a few good blogs to start reading often and just dissect everything that they talk about in relation to the subject. The great thing about this method is there are just so many good quality blogs on the internet these days that deal with building up passive income streams, investing, real estate, and much more. The hard part is just choosing which ones to read.
I must admit that on the Internet, information overload is one of the most difficult things to deal with. There are just so many websites or blogs out there. Some are great and many are also filled with information that is not too good. So what do you do to deal with this? I recommend finding a few blogs or newsletters that you are really learning from and just stick to those. You really need to block out the rest.
Below are a few of my personal favorite websites or blogs that focus mostly on learning about how to make residual income online:
If you visit and study from this list alone you will learn tons about making online passive income. What I would do is make up your mind to read 1 hour per day from each of these sites and ignore the rest. Or make your own list of about 3 or 4 blogs max and just read them for a maximum of 1 hour per day. Spend the rest of your time applying what you are learning and keep working on trying to set up you income business opportunities!
We all want to make online income and get excited about it when we start out. One common mistake that many beginners in this exciting game start to do is they build way too many websites to handle. Now don’t get me wrong here, having a bunch of websites is recommended and a great business model to follow. If you do that it means you’re setting up more and more internet residual income business opportunities. What I’m trying to say here is if you are building multiple websites to make sure that you at least set up a basic checklist for each website that you try out to see what kind of results you get before you move on to developing your next passive income yielding website!
So what exactly do I mean by doing them properly and how do you actually go about setting up a website that can produce passive income for you? Well you need to cover the bases with each of your sites that you actually want to do well with.
Some steps I like to follow for new websites are the following:
• Spend time on each site selecting your keywords that you will go after.
• Choose a good domain name preferably with your keywords in it and if possible, buy yourself an aged domain name.
• Write some keyword related articles/posts (at least 10 or more pages). These posts should be SEO optimized.
• Install the free Stat Counter Software
• Start building those links! Article marketing, blog roll exchanges, commenting, etc.
At the beginning stage there is no need to focus too heavily on the design. If your site starts to get a bunch of traffic at that time you can put more time and energy in to the graphic design side of things. If your site really doesn’t work out for you then at least you won’t have wasted tons of time on doing up a design that doesn’t help produce the income you are going after.
There is no doubt that not all your sites will turn out to be income producing machines but some of them will definitely have potential. What I usually like to do is spend some time on the above list for each website and then start up my next. After about 2 or 3 months if you did your keyword research right, did proper SEO optimization and followed the above tips you should start to see some traffic. If not at that point you can continue to try and work on developing your website or you can leave it for the time being and work on more promising websites. From personal experience some sites will start getting traffic quicker then others.
So if you are actually serious about making an income online and turning this into a true business opportunity then you really need to perform the above to each website you build to see if it has potential. There is no problem in having a bunch of sites that you are working on but make sure that if you want to see the true potential at least follow the basic steps outlined above!