Passive Income-How Can You Make Passive Income Starting At $0

Today I’m going to be talking to you about how to make passive income starting at zero dollars. Now I’m going to be going over a few things.

First, I’m going to be defining the difference between active and passive income. Which is important to know. And then I’m going to be talking about how to create active income. And then I’m going to be talking about how to change that active income into passive income using a few short steps. let’s get it.

Internet entrepreneur having created over a quarter million dollars a year at least of passive income for myself. And I’m going to be talking to you today about how to create passive income for yourself starting at zero dollars.

You can learn more ways about passive income. Read this article It Is Easy To Make $100 Per Day-Passive Income. For more information.

Difference Between Active And Passive Income:

The first thing you should understand is the difference between active and passive income. First off, no income is truly passive. Except investments that give you dividends each year or bonds. However, there are income streams that are more passive than others. For example. Doing something like consulting where you’re taking what’s in your head. And giving people advice on maybe it’s management. Or hiring or recruiting or marketing or BPO is a very active income stream. And in it, you are trading hours of your time for money. Passive at all.

Automation:

Whereas something like I teach affiliate marketing is a bit more passive. Because after you set up an affiliate campaign. You can just let it run after you’ve gotten in profitable. And typically. Marketing campaigns will run anywhere from maybe a few weeks to a few years. Just on their own once you figured out the formula to getting profitable.

But even that isn’t 100% automated because it’s still takes work and analysis. And it takes a lot of optimization it takes looking at your data. It takes following up with people who are going to pay.

And although the work is again. Mainly up front and affiliate marketing, where you’re figuring out what marketing resonates with your target audience. And you should be regularly conducting split tests. Testing out your marketing message. Trying advertising on news sources. Split testing different offers regularly if you want to be competitive in this field.

Make Money While You Sleeping:

But on the same token. It is passive somewhat because you can make money while you sleep. Once you’ve set up a marketing campaign. The ads or the posts or whatever are out there on the internet. The webpages are all working. And sales and money is coming into your pocket. And your bank account without you even having to touch a computer.

Note:

I advise you to not to fall for anybody who tells you they can make you truly passive income. Realistically speaking. Passive income really just comes from money. You have to have a lot of money. Then your money can turn into passive income through bonds and dividends and stuff like that. So always be skeptical of people who tell you that stuff is truly passive.

For a little story. I mean, what I used to do. I used to travel the world. Because once I got a good marketing campaign, going that was making me you know. $1000, $500, $10,000 a day in profits. I could travel for months. I could not even really touch the internet. And that money would just keep coming in to my bank account. It was great.

Traveling:

My favorite locations are Tacasoot. Morocco. Swara. or Essaouira. however you pronounce. Jericoacoara. Brazil which is beautiful. It’s right up on that kind of horn.Great place for kite surfing. Tarifa. Spain. beautiful place Haad TN beach and Thailand. I mean, these are just some of the most amazing gorgeous places on the earth.

These places all have very poor quality internet. But they’re just unbelievable. They’re like dreams. But there isn’t a lot of ways to make money in these locations. Partially because they’re not connected to the whole grid that the world is connected to.

And I’ve always sought out these places that are a little more off the grid. That’s what nourishes me. I love nature. I love humanity. And it’s more raw form disconnected from all these smartphones and internet stuff.

Ironically enough. Having an internet business. And has enabled me to go experience all these beautiful locations in the world. So the pacity that affiliate marketing allowed me enabled me to experience a level of life. And see things that many others haven’t seen.

How To Create Active Income:

Now in order to make passive income starting from zero dollars. It’s very very important you take note of the second step. Which is you should start with active income. Because it is just far easier to get into. And as we already said. To make truly passive income. It’s really just about having money and investing it right.

Many people want to start with passive income, But that’s extremely hard to get into. Finding areas of leverage. Such as spending money on ads. Where you can with a click of a button to reach billions of people. Or utilizing stuff such as outsourcing. Which takes work from your plate. And puts it on others is a good way to start making your income more passive.

But ads and outsourcing both cost money. It’s kind of hard to start out with if you don’t have any money to begin with. When you start with active income. Where you’re trading your time for money. You don’t need any money to invest. You can simply invest your time doing services. Or done for you work. Consulting. Being an agency. And starting to do that to accumulate money.

Help Business Owners:

Now, there are lots of business owners who need help with all sorts of areas in their business. There’s lots of opportunities for you to create services. To help those business owners. As the world gets more and more complicated. And as the environment changes every single week it seems. It just means there’s more opportunities for more done for you services. That you can offer business owners. Like me or all the other business owners in the world. And make money from them.

The trick is you want to find business owners. Who have more money than they have time. And almost every single business owner out there that has a profitable business. Which there are 10s of millions. Don’t have a lot of time. But they do have money. That they can spend to help save their time. So they can focus on more profitable activities.

I personally spend about $35,000 per month. On different consultants. And agencies that have done for you services. $35,000 a month is a lot of money. I’ve a lot more money to spend for different people. Who come to me that have done for you services for me.

I’ll give you a few examples of done for you services. Or consultants. Or whatnot that I’ve hired over the years. Support desk hiring. Agent hiring. Recruitment. YouTube video production. Editing. Posting. Direct tv media buying in the US. International clearance consultant for media buying overseas.

I mean long story short. I’ve hired a lot of consultants for a lot of different types of operations. There’s a ton of niches that you can hire consultants for. You got to find your lane. Find what people want. Find what people are willing to pay for. And ultimately.

Choose The Right Person:

The fastest way to do so is what I always say. Which is instead of hanging out with your broke friend. You know at your family reunion. Are you broke cousin. Hang out with your richest family member. Start hanging out with the richest people that you are surrounded by. Hang out with the richest person in your town. Rather than your broke friend or your broke family member.

That’s the easiest thing. And as you start getting a sense of what people who have money. Or who have active incomes need and want. You can start finding ways that you can create services. And use your time to help solve their problems for them. And make a lot of money in return.

Turn Active Income To Passive Income:

Now the next step to creating passive income starting from zero. Is you want to turn your active income into passive income. When you get a lot of money from active income. Please don’t just go out there and blow it. This is the big mistake that lots of people do. Salespeople top performing biz dev professionals. Early entrepreneurs is they take that active income. And they just spend it frivolously thinking that they’ll just be active income forever.

Instead. What you want to do. Is you want to take whatever money you make from active income. Stuff you’re actively working on. And use that to invest in projects. That can create for you passive income.

One way to do this. Is if you are making money doing affiliate marketing by being an influencer. On maybe it’s Twitter, Facebook, YouTube, whatever. You take a portion of that money. And you invest it into doing advertise for the products. Or services. Or whatever that you’re selling. That gives you a degree of leverage.

So that now you can start getting viewership. Without having to actively create new content all the time. Or for instance. If you’re a sales are a business development professional. You could take some of your active income that you get from selling and people And closing deals. And using that to invest in starting a YouTube operation.

So now you’re able to reach more people. More often and create more of an inbound flow of business deals. Rather than having to go out. And hunt for prospects and business deals yourself.

The Clients:

Another way you could do this. If you’re a marketing person. You can take some of the money that you are making from doing marketing for clients. And you can use that to invest in buying websites that are already making money. Put your marketing skills to use. Just do some tweaks to make those websites make more money. So now you have an asset that’s bringing you in money. Rather than you having to go out and work on clients for that money.

Build Your System:

There is a whole plethora of ways that you can get creative. And build passive income systems for yourself. But what you need to do. Is you need to make it a priority to take the money. That you make from active income sources. And reinvest it into passive income projects. One of the things that I do routinely. Is I always take usually the lion’s share of what money I make each year. And I invested in a few choice kind of what I call passive income projects.

Now for instance. I would have netted about $1.8 million last year in profits. But what I did was. I did about three bets I call them side bets every year into different projects. I put about a quarter of a million dollars into in order. To create passive income for myself. Or more passive income.

An example of some of those projects. That I did from actually doing affiliate marketing and selling courses. And all this other stuff which takes up a little bit of my time. Is I invested in one was software. So I put about a quarter million dollars into building software last year. Didn’t work out.

Networking Related Activities:

Another one. Was I put about a quarter million dollars into a different networking related activities. Just to kind of open up opportunities for myself kind of just this. Was totally purely speculative. Spontaneous. Surrounding myself with higher level people. To see what opportunities that may lie in my blind spots. It’s impossible to be aware of stuff you don’t aren’t even aware of. So I figured networking with richard people would help me in that respect.

TV Ads:

I also put another quarter of a million dollars into working on TV ads. Which have a much longer shelf life than affiliate marketing campaigns. Affiliate marketing campaigns typically work for a couple months to maybe a year. And whereas TV ads have more of a shelf life. When you get a winning TV ad. It might last for anywhere from two to four years. Rather than maybe the average affiliate marketing campaign. Which might run for three to six months. Could be longer could be shorter. Depending on your niche.

Good Deals:

Of those side bets I did. The software didn’t work out. The networking didn’t work out. But what did work out for me was the TV infomercials. And I had to invest another quarter of a million dollars this year. Into getting my TV ad campaigns working. So that they could last for a long time. And I’m happy to say they’re working now. They make me a good deal of money. And we’re on TV every single night of the week out here in the United States. And we’re expanding internationally.

Active Investments:

Always take the money you make from active investments. And put them into more passive things. In my case doing affiliate marketing. Selling courses. Training and stuff is somewhat passive. But again. It’s not purely passive. I’m trying to move it into more passive areas. I keep shifting from active to more passive. Software is a very passive income source. When you can build up a large base of recurring subscriptions. Building companies and having employees do lots of the work for you is very passive. especially when you start getting management structures in place multiple layers of management.

And the most passive is obviously just money in investments. Not speculative investments. All of my investments are in municipal bonds. Are most of my investments aren’t municipal bonds. Which are really unless the US government goes broke. I’m not going to lose my money.

So unless the world collapses. Essentially, I’m not going to lose my money on those investments. And they bring me a solid returning cheer. And I’ve estimated for me to retire on my current lifestyle. Which is about a quarter of a million dollars a year. I would need $6 million in municipal bonds. In order to just be able to live the rest of my life without having to touch anything.

That’s the long and short of things. I hope you enjoyed this articles. I hope you learned something. Make sure you join to our newsletter.

Thanks for reading.