Passive income is really not that passive, at least not in the beginning. The sooner you appreciate this fact as it relates to affiliate marketing, the more successful you will be. Most affiliate marketers / online entrepreneurs give up because they refuse to understand the process involved in generating passive income.
Passive Income is defined as, income earned with minimal activity or effort, which require little to no daily upkeep on the part of the individual.
Yes, we all have visions of working from home in our pajamas, or relaxing on the beach with our laptops. But in reality, you may not be as relaxed or carefree, as you imagine when first starting out. In fact, you may feel more pressure and or stress than you feel working a 9 to 5. Why? Because you’ve bought into the vision of what passive income can bring, without realizing that it’s a true “work in progress” and success is not going to happen over night. Don’t believe the hype of others who taunt over night success. They too had to put in the initial work, face struggles, overcome distractions, and even lose some money, before they saw their first check. The key is not to give up, when the vision has not yet become a reality.
Steps you must take to generating passive income:
- You Must Act……Put your ideas into action! Whatever it is that you have decided to do to start your own business (creating a product, affiliate marketing, becoming an author, creating online courses, etc), you must move into action. Get ready to push all your excuses and fears out of the way, and simply get started! Passive income does not happen by osmosis!
- Learn and Apply…….Learn all you can about your chosen niche or business market. None of us come here knowing it all and trends are always changing. So you will need to do research. Research your market, demographics, and trends of your customer base. Identify the top producers in your niche and follow them. Read books and take notes. You can also find just about everything on Google and Youtube! Take notes, then apply what you learned. You may be able to earn while you learn!
- Build Relationships……..A great sales person, is one who knows how to build rapport and maintains a good relationship with his/her prospects and or costumers. Any good relationship takes time. Sot it will be important for you to build your business with good content, or provide a solution to solve a need, then present your content solution on a public platform for easy access (website, blog, Youtube, FaceBook, etc). To keep your relationships going strong, you will need to take time to build your email subscriber list. Why? Because it’s not always love at first sight! Your email list (once automated) will allow you to keep in constant contact with your prospect base, and will provide the time and opportunity needed for them to transition into loyal customers!
- Invest, Invest, Invest……..Invest in yourself and your business. Yes it will take both time and money to get you where you want to be. You may have to consider in investing in your education, whether that’s paid courses, hiring a coach or both. The point is, you will have to Work to improve yourself! You will also need to invest money back into your business, which means you will have to sacrifice and work, to generate additional income. Point is, you will not be able to get something for nothing. You will have to work at something!
- Whatever you do, Don’t Quit! Most don’t get to live the Passive Income dream, because they quit right before the breakthrough! Some may start to see their passive income flow within months. others may take a year or two. If you are not generating the income within the time frame you expect, go back and reevaluate. There may be a step you missed or may need to spend more time to perfect. Just don’t give up! If you are willing to do the initial work, your passive income will come.
If this article has helped you in some way, please feel free to leave a comment below. My goal for myself and others interested in working from home, is to keep it moving! Stay the course and live a life of financial independence in wealth and abundance!