So you may be wondering, “what is passive income, anyway?”
Well, that’s exactly what I’m here to clear up today:
What Passive Income Is and Is Not…
Especially as it pertains to online business owners and bloggers like you and I.
Everyone talks about “making money while you sleep!” and how awesome it is.
Yeah, it is pretty awesome.
But the truth is, I prefer to make money when I’m out on an adventure, traveling, or spending time with my family and friends, or art journaling, or even just relaxing on the couch. Making money while you sleep is fine, but making money while you’re out enjoying life is even better!
I have an app on my phone that notifies me anytime one of my ebooks sell, and I’ve started a list of just some of the fun things I was doing when I received those notifications.
Here are a few:
- While I was out having my birthday dinner with family and friends.
- While I was on vacation in California.
- While I was painting.
- While I was at a blogging conference.
- While I was picnicking with friends by the river.
- While I was doing karaoke with my daughter.
- While I was at an Etsy sellers’ meet-up.
- While I was on an airplane.
- While I was at the movies.
- While I was at a mastermind meeting.
- While I was working.
- And, of course, while I was sleeping!
That’s the really great thing about passive income: not that it happens while you’re sleeping, but while you’re out living a full, happy life!
But what is passive income, really?
Passive Income is income you make from something you work on once, and can sell over and over again, without having to make it again and/or pack and ship it. The thing you work on could be a blog post with affiliate links (and that’s what we focus on here at Thriving Affiliates!)
Typically, this means more work up front (sometimes a little more, and sometimes a lot more.) And then the income continues to come in month after month, year after year.
Some examples of online passive include:
- Creating PDF workbooks, worksheets, schedules,
- Selling prints of your artwork through one or more of the various websites who handle all the sales, printing, packaging and shipping for you.
- Teaching a class on video that can be sold over and over.
- Creating online courses.
- Writing a How To ebook.
- Writing a traditionally- or self-published book.
- And of course, blogging about what you do and making money with affiliate links.
What passive income is not:
Easy. You still have to work for it!
Quick. Passive income definitely does not happen overnight. It takes time to create products, launch and market them.
Or even totally hands off. Because, just like with physical products, you still have to promote that blog post and/or sell what you’ve made. Or get people on your list, to your website, or following you in order to get them to click and buy.
But guess what else it isn’t?
Which is one of the reasons why I created the Thriving Affiliates!
Because I don’t think you need to start another business (if you have one already) in order to create sources of passive income. My hope is that, through the ideas discussed on this website, you’ll come up with ways to make more money, as passively as possible with affiliate marketing, in your current online business and/or blog.
Because I’m guessing you started doing what you’re doing because you love it. Am I right?
So let’s piggyback on that, and figure out how you can earn more, passively! Check out the blog for some ideas, and check out the tools I’m using every day that help me make more passive income online.
But I hope that helps answer the question, What is Passive Income?
(One last note: when I talk about “passive income” on this website, I’m not talking about some other forms of passive income like: Network Marketing, Real Estate, Investing, stocks, etc. Not that there is anything wrong with those things – my own mother has been a very successful real estate investor for 20 years now with nearly 100 properties. My Grandfather became a millionaire after retiring from the L.A. fire department by investing in the stock market. So I know those things can be awesome for some people! And I’m sure there are some great websites that can help you with that kind of info. That’s just not what I’m talking about here.)