Here’s a question I saw in a forum today: How can I earn a passive income online?
To my mind the concept of earning a passive income online is one that’s mostly used by people trying to get you to buy their IM book or join their IM related membership site!
Here’s a copy of the answer I offered:
As the others have said, you can make money online, but it takes work, patience and perseverance.
If you haven’t worked online, or in Marketing, before you’re also going to have to learn some new skills – which takes time and commitment.
The most important point to remember is that an Internet Marketing business is no different from a traditional bricks and mortar business: It has to be well planned, well funded, well managed and worked at!
Having said all that, there are tremendous advantages to having a successful online business. You’re operating in the biggest market in the world (the number of Internet users and people who buy online is growing fast every day).
Because you’re selling from a website, rather than a shop, your business is open 24 hours a day and the technology allows you to handle hundreds of customers at the same time.
So your operating costs are much lower.
But remember that people who tell you that you can earn a passive income online are probably trying to get you to buy their Internet Marketing book, their Internet Marketing software or join their membership site!
The closest you can come to what could be called a passive online income is if you’re selling memberships where you get a portion of the recurring membership fee each month – as long as the people you sign up remain members!
If you’re selling these memberships as an affiliate you could call that passive income because you theoretically don’t need to do anything once your new member has signed up.
But even with this kind of income, I prefer to remain active in the membership site and make myself available to help the people I’ve signed up. That’s just good business.
Long story short: the lure of passive income is usually used by people trying to get your business. To be successful online you need to work at it just as you would any other business.
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{ 4 comments }
fantstic read..
i couldn’t agree with you more…
thanks for the blackbook, just downloaded.
very much appreciated.
Hi Linn,
Glad you enjoyed it and you should get a lot of good stuff out of the Authority Blackbook – I hope you do, anyway..!
Cheers,
Martin.
Martin,
thanks for the reply.
I was reading the book and it’s fantastic.
i will come back to read other articles as well. thanks for sharing
Hey Linn,
Welcome!
Cheers,
Martin.
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