This article is guest posted by Patrick Meninga
There are actually a lot of different ways to build up a passive income stream in your life. For example, you could own real estate and rent out property to people. Or you might have mountains of cash wrapped up in investments that pay you interest and dividends.
But most of are not in a position to be able to command that kind of wealth and money just yet, so we have to build systems that can generate passive income for us.
Building a system for making money online
Unless you have tons of money laying around for investing, then you are going to have to do some work in order to start making money while you sleep.
“But wait a minute,” you say. “I thought I was going to earn passive income. As in, not having to work for it.”
Well, you can still do some work and build up a passive income stream. Ultimately what you are going to be doing is to build a system that makes money, rather than doing hourly work for a wage. There is a subtle difference there and those who are making big money online understand this perfectly. What you want is to build something that has value that can keep paying you money over and over again.
Sure, you put in some work up front. But once the machine is in motion, it will pay you over and over again.
The internet is suited for this purpose perfectly.
Ultimately, there is a 3 step process for building such a system online:
1) Create a website that has real value for the reader.
2) Promote that website such that it eventually receives a steady stream of free traffic to it.
3) Turn that stream of free traffic into money.
Because the internet can serve up your website to hundreds or even thousands of people every day while you are sleeping, you can keep delivering value to people even while you are not awake. Thus the income you earn from that value you provide is really quite passive.
Providing value in the online world
Many people hear of making money on the internet and they feel that it is beyond them, or that they surely must have missed the boat by now. They believe that they are too late to the party, and that there is no opportunity left to make any income online.
Not true. The internet is vast, young, and ripe for fresh content, especially if you have personal insight that can help others.
For example, my grandparents (yes, my grandparents!) expressed an interest in “blogging” a little over a year ago. Under my guidance, they know post 3 articles each week on a topic that they absolutely love, and they are earning over $200/month in passive income from it. If they stop posting articles, guess what? The money just keeps rolling in.
Folks, if my grandparents can do it, then anyone can do it.
Carlocab.com is a successful website because it adds value and provides good information. You can use this site to learn how to build up your own passive income stream, if you are willing to put in the work.
Are you ready to earn money while you sleep? Build a system that provides real value, and your dream of passive income can become real.