Welcome to BecomeWealthyWithMe.com. I’m Clark, and here I would like to discuss a hot topic in 2017 (and most probably for many years to come) – how to earn a passive income online. First let me explain what passive income is, then allow me to share with you the BEST way, at least in my opinion, to earn a passive income online.
Passive Income 101
Passive income is earnings that require little to no effort on the part of the person receiving them. Nonetheless, people with passive income understand that it takes time and dedication – at the initial stage – to achieve success.
It’s not a second job in that you don’t continuously trade your time for money (which is said to be the worst way to become rich). After the initial hard work phase, passive income allows you to make money even while you’re sleeping.
Therefore, online jobs such as data entry and filling out surveys do not qualify as passive income.
Two of the best passive income “activities” in my opinion:
1) Renting out property. However, the initial cost is typically very large, and depending on which country you’re in, it may be difficult to get a loan from the bank if you don’t earn a high enough salary in your day job
2) Online or Internet marketing, which is something I’m currently doing myself. And in my opinion, this is the best way to earn a passive income, in particular if you don’t have a huge amount of capital readily available.
Introducing Online Marketing
The word marketing scares a lot of people off, but trust me, up until I create my first online marketing business I had no experience whatsoever in selling.
There are 4 main parts to online/Internet marketing:
1) Choose your niche (interest), which can be anything that you’re passionate about. There are countless niches that you could potentially tap into online
2) Create a website (more on this below)
3) Focus on getting traffic (visitors) to your website
4) Earn money
A website is the foundation of an online marketing business. It is your online “store”, where you get traffic, build brand and trust through relevant and high quality content, and promote products or services.
I created my first online marketing business after registering as a free (no credit card required) starter member at a website called Wealthy Affiliate (WA). Starter members get to access the 20 beginner training lessons that guide you in building your first website (for free) and getting your online marketing business started.
The process of building a website at WA takes less than a MINUTE, because they are the industry leader in the website development space, and they have the most advanced, but simplistic, website platform in the world.
The starter membership at WA allows you to start your online business for free, and I think no matter how you look at it, it’s a great deal if you’re looking to start earning a passive income online.
Passive income is a reality for MANY online entrepreneurs. They make money around the clock because they have put in the initial hard work and built a business on passive income.
Ways to Make Money with Your Website
Once you have a website up and running, one way you can earn money is through affiliate marketing, where you earn commissions by promoting other people’s products/services.
To get started, sign up for the affiliate programs whose products/services you want to promote. Then get your “affiliate link” associated with each product. An affiliate link is a URL, such as http://example.com/yourid, that contains the ID of the affiliate (you).
Use the affiliate links within the content on your website. When visitors click your link, they will be sent to the product website. If they end up buying the product, you will earn commissions.
Last year alone, the affiliate marketing industry generated over $3 billion in sales.
Another very common way to earn money is by placing “ads” on your website. The most common way to do this is through the Google Adsense program.
By joining Google Adsense, you get to put other people’s ads on your website. When one of your visitors clicks one of these ads, you and Google share the proceeds. If the advertiser is paying $1.00 per click, you would get $0.68 (68%) and Google gets $0.32.
Again, if you’re looking to start earning a passive income online, click here to learn more about Wealthy Affiliate (including how to register for a starter account).
That’s it from me today. If you have any questions or comments about how to earn a passive income online please leave them below and I’ll be more than happy to help you out. Thanks!