There are many (and a growing number of) ways to make money from home. Many claim that you can generate passive income from home, but be aware: it’s not truly passive – you’ll always need to put in some work if you want it to be successful! (See my thoughts on that here).
And, by the way, don’t confuse passive income with residual income – they’re not the same!
Given the rising number of job layoffs and the grim economic outlook, it makes sense to look for other sources of income. So I took a look around the web today to see what people are suggesting and writing about.
I was shocked at the amount of value-free stuff there is out there, but I did manage to find 3 articles that do deliver some solid advice, and I’ve linked to them below.
This first one gives good solid advice and also points you to some really useful resources to help you get started:
Free websites to help you make money
Passive Income. This is my favorite. Passive income is income you need to do little for once it is set up. You may have to tweak things here and there for better results, but once set up, you can earn money in your sleep with little to …
This second one takes a look at Network Marketing. Network Marketing and MLM get a pretty bad rap most of the time, and a lot of it is justified.
However, if you like building up a team of people and you’re good at training and coaching, there are Network Marketing/MLM businesses out there that are good solid businesses with good solid products.
Do be careful about joining an MLM business though. Do your research and absolutely make sure that the product is good and provides real value.
Here’s the article on Network Marketing/MLM:
Does Network Marketing Have a Future?
This is one of the simplest ways to earn a residual (passive) income. Network marketing is one of the most rewarding home business opportunities today. The opportunity for success, happiness, wealth and freedom in the foreseeable future …
And this last one sets out 7 steps to follow if you’re setting up a home business for the first time:
Seven Steps to Leverage Your Expertise into a Highly Profitable …
If you’re so busy all the time that you don’t have the energy to come up with new ideas or to spend time writing or creating programs, you may not be able to earn passive income. Creativity and innovation are key to coming up with new ideas. …
There are a lot of references to ‘passive income’ in these and many articles you’ll find online. Always remember, though, that for your website to be generating passive income it must be attracting high numbers of targetted visitors – and that takes work. (A lot!).
Which is why the term ‘passive’ is so misleading.
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I like your conclusion: “Which is why the term ‘passive’ is so misleading” – that’s right, there is always some work behind.
On MLM, what do you say about it in developing nations, where it seems products/services quickly reach a ceiling, and generally harder to convince the next person to join? That’s why MLM takes all that rapping..of course, it’s working great for others.
Rodwell, hi,
What I’m saying is that anyone who’s considering joining an MLM should look carefully at the company and the products, and satisfy themselves that the company is solid and the products bring real value.
There are too many MLM’s and Network Marketing businesses out there that rely on signing up other people to make money for the new member, rather than on selling the product.
I have no problem at all with an MLM or Network Marketing business that is genuinely able to lead with its products.
Cheers,
Martin.
Now I get you Martin, you said something never looked at by so many MLM aspirants, i.e, are the products bringing real value? It’s true companies here rely on signing up other people, it seems it’s the focus – get people under you; instead of selling value first. I get you, it’s well said.
My greetings to you!