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Passive Income Advantage: The Benefits Of Earning Passively About the author Eirik Vold started his first business with a partner in 1996 and sold it five years later for millions. He used some of the cash to start a second business, with services aimed for Media & IR Contacts, during a period of 3 years served more than one hundred thousands clients, and Eirik ultimately sold that business to a larger international media company. After working as a consultant and marketing strategist for small and medium businesses on four continents, Eirik realized his passion and talent was helping other entrepreneurs be supersuccessful (online & offline) and in 2005 coined the term Marketing Coaching to describe his work. Internationally recognized as a business advisor and author, Eirik has worked with thousands of small and medium businesses whose names you’ll never know, but whose entrepreneurial owners have pocketed a substantial sum in increased income and proceeds from sales. (50% year over year client growth is typical, and 100% sales increases are not uncommon) Thousands more have read Eirik’s publications, cources and reports, including his wildly successful website nofluffreports.com. “No Fluff Reports” has hot little reports with topics and some of the best strategies for marketing your business online as well as offline, to make more profits and serve your customers better. These reports is a must read for anyone in the "biz".
There are many benefits to earning a passive income, but among all the reasons, one above all the others has risen to the forefront this last year or two: The wish to not be dependent any more on a “regular” 9-5 job. Sometimes, it’s more than a wish, unfortunately. With lay-offs currently in the millions across North America, “regular” jobs seem to be going the way of the dinosaur at an alarming rate. Of those who are still employed, many say they’ve noticed a huge change in company tactics this last decade. Gone are the days when you worked for a company for 25 years, with paid vacations, benefits, bonuses, free time with your family, paid sick days, and a gold watch and appreciative recognition at retirement. There is now no true job security – save for a lucky few, it seems. People report constantly feeling under financial siege – and sadly, they are! Nowadays, countless formerly stable companies have put non-union employees on “contract” – meaning they don’t have to pay benefits. In many cases, they can lay employees off with no compensation and minimal notice, paying people part-time wages while working them full-time hours (and often then some.) People are handed their pink slips without warning. Often, because you are employed on an hourly basis, no valid reasons are given for dismissal – and it’s doubly hard to find another job next time; even a contract position. Foreclosures abound, and many people have been through the contract job mill so many times (the “lucky” ones, that is) they feel permanently dispirited and distressed. If this sounds like you, I admire the proactive spirit that has you deciding you’re not going to wait for the axe to fall. The truth is, we’ve never been a nation to sit back and simply complain, waiting for someone else to bail us out. Now is also the best the time to reinvent ourselves and create our own security, wealth and retirement plan. You may be seeking passive income – but you’re taking anything-butpassive action today!
The Pros and Cons of Passive Income Even if you’re fortunate enough to still have a job, it makes sense not to keep that job as your single lonely egg rolling precariously around in a big, old, empty basket. Adding extra sources of income makes more sense than ever before, in these tough economic times. Especially when you consider that passive income can take time to grow (though results will vary widely from person to person, according to their abilities, investment capital available – and the amount of work they put in.) If you are jumping on the passive income bandwagon, imagining yourself drinking Singapore Slings on the shores of the Caribbean 6 months from now while money rolls in like the tide, you’re probably in for a shock. But not so many people nowadays are taken in by network marketers who promise you a six-figure income in a few weeks or less. Oh, there might be the odd one in a million persons who combines entrepreneurial genius with amazing luck – but generally, 6 figures in 6 weeks (or even months) just doesn’t happen. Solid businesses take time to build, but you can greatly accelerate this process if you follow tried-and-true procedures – ones that make good business sense. Take the time to educate yourself on how to pack and patch your own parachute. Let’s Get Real… At first, your new passive income won’t do more than augment income you already have. When you get to the point that your passive income exceeds your job salary or earnings, then it’s time to quit the day job. Sometimes you’ll feel as if you’ll never get to that place of true freedom from financial pressure and working like a slave. You begin to ask: “Will it always be like that?” Well, Jimmy D. Brown, one of internet marketing’s most successful entrepreneurs, says he now works a rigid schedule of only 3 hours every day... And still he is able to maintain and grow a burgeoning empire. His enjoyment and satisfaction with his chosen way of life are palpable.
And that’s what we all want, at the end of the day – a career that will take us beyond survival to passionate fulfillment. One that will truly put us “in the zone”, free us from financial pressure and leave us time to play – time for what pioneer psychiatrist Abraham Maslow called “self-actualization”, where we look around to see how we can not only better the world, but better ourselves and achieve our highest potential. Before you go racing off, however, to download dozens of passive income eBooks, take a moment to sit back and discover whether or not this is the best route for you to take – and be ruthlessly honest with yourself on what you expect to get out of it. Do you just want to add a couple of hundred dollars to your monthly income, or do you have a game plan for replacing your regular job as quickly as possible? In one year? In five years? (Where do you want to be in ten years?) Are you creating passive income because it sounds like the perfect fit for your lifestyle and goals, or because you’re expecting easy money to fall in your lap? Are you comfortably well off enough to have ready cash to invest in coaches and outsourcing services straight away, or are you down to your last twenty bucks, desperately trying to bring in a full-time income because you have no other option? If you’re caught in the latter category, take comfort in one fact that doesn’t apply to those more financially fortunate: your motivation will be much stronger and more focused than the person who just wants to add a couple of hundred extra for movie tickets or a couple of dinners out every month. And by using all that time at your disposal, you’ll be able to move ahead more quickly.
Your Personality and Passive Income There are a few people just not cut out to be an entrepreneur. All successful entrepreneurs possess certain characteristics – but if you don’t have these characteristics, don’t panic! It doesn’t automatically follow that online marketing is not for you. What you need more than any characteristic off someone’s list… is the determination to succeed and the ability to remain challenged rather than daunted by life’s roller-coaster setbacks and failures. If you’re able to tilt your chin at challenges and refuse to give, you’ve already won half the battle. Canadian humorist Stephen Leacock was born in the little town of Orillia, Ontario; and although he died over half a century ago, a large mural still graces the wall of a building on Front Street, displaying his portrait – and Leacock’s favorite quote: “I am a great believer in luck. The harder I work, the more of it I have.” There’s a great deal of truth to that piece of whimsy – even though the quote actually wasn’t Leacock’s at all, but something he had borrowed – a motto to live by – from Thomas Jefferson! The same motto could be applied to passive income. Expect to have: 1. A learning curve, at the beginning 2. A battle with self-discipline – there are so many distractions on the net, and so many courses to take, ebooks to download. (I mention this because it’s a spectacularly common problem with online entrepreneurs!) 3. A period of hard work at the beginning of each campaign you set up – but the more you do it, the easier it will get, each time. 4. Several campaigns going at once, with more added regularly. Realistically, you will not replace your full-time income and have money to spare by promoting just one product.
Will You Pass the 14 Checkpoints? There are 7 components you need to set in place, before you begin your passive income journey. Before you make any decisions, it pays to be aware of these. In order to succeed, you will almost certainly need: A A A A A A A
plan market mentor clear and lucid vision based on solid research separate bank account for your business business plan and sales funnel(s) safety net
There are also 7 attributes it pays to develop: Commitment Self-discipline Determination Confidence Patience Integrity A sense of humor My goodness – sounds like a lot of work, doesn’t it? Well, it is… and it isn’t. There is always hard work for the first few months – perhaps longer, depending on the time you have available plus your personality – but once you’ve learned to stay in the saddle and aim your horse where you want to go, you really can start sitting back and smelling the roses while dollars roll in. And you’re not answerable to anyone (except God and the IRS!)
Let’s be realistic about the numbers, however. People always seem to envision setting up one or two sites, and having thousands of dollars roll in. Sadly, it just doesn’t work that way, especially not at first! Promoting affiliate products is the most popular way to create passive income, but before you plunge into this, be aware that most top “super affiliates” got that way because they have hundreds of sites set up – many you’re not even aware of, because they don’t stamp their name on these sites. They’re set up just as vehicles for products that are bringing in steady commissions. Same with Adsense and CPA (Cost Per Action) ads, where you earn income simply from people clicking on links or ads you’ve allowed to be placed by CPA networks or Google on your web page. The average commission for a click is anywhere from 16 cents to $1.80 – but there are some markets that are way more lucrative than others, and that’s one thing you’ll need to research, if you decide to add CPA to your efforts. Still think you’d like to abandon the fragile “security” of your 9-5 job, or even just augment your income with some extra cash? Don’t despair – with all these methods, there are ways you can leverage your position and profits. There are viable, proven strategies to significantly maximize your profits and minimize your work. And focusing on creating these two actions provide the true secret to passive income success! There is More Than One Way to Create Passive Income The truth is, even within different modes and methods, there are things you should do – and things to avoid. The choices you make and how well you learn these income-boosters and pitfalls will contribute to your success – or lack of it. But no passive income model is doomed to be just a pipe dream, if you learn the skills and techniques the “super affiliates” use. This does take self-discipline, and above all, focus. You may not even want at this point to make millions – in which case, generating passive income and extra trickles of income from diverse sources is a solid action to take. And you’re not “stuck” with having to choose affiliate marketing as your only method. There are 6 other common ways to creating passive income – and that doesn’t even include residual income.
What is “residual income”? It’s money that rolls in regularly from a product or service you’ve already sold: Membership sites are a perfect example of that; or having people pay a monthly fee to access a script on your website that will allow them to perform tasks like creating graphics, or access targeted research. Depending on how you’ve set up your residual income generation and how much time you’ve committed to supporting your monthly investors, residual income can mimic true passive income quite closely – or it can involve a lot more work (for example, if you’ve offered coaching and feedback for that membership site, and you’re regularly preparing blog posts or instruction modules.) 6 Basic Ways to Generate Passive Income Let’s take a quick look at the different directions you can choose to go, and the methods you can mix and match: Tiered Affiliate Program – These work along the principles of MLM, or multi-level marketing. This is where you don’t just act as an affiliate yourself, promoting a particular marketer’s products: you incite other people – your own list – to join the affiliate program too. These second-level affiliates are working for you, because every sale they make, you bring in a profit. And they, in turn, bring in even more affiliates… Selling your own product – Create an evergreen (always relevant and timeless) product that you can set up and sell automatically, via a network like Clickbank or Amazon. People with a need find your product by looking in these familiar sources, and in that way, they are already pre-sold on your product. Running your own Affiliate Program – This is not as intimidating as it sounds: In fact, if you are selling your own product off Clickbank, this network automatically sets up and manages your affiliate program for you. There are many easy techniques you can also employ to encourage people to become your affiliates, as well as powerful strategies you can add.
CPA (Cost Per Action) – You earn passive income every time someone clicks on an ad or link from a CPA network like Adsense, PepperJam or Share-a-Sale that you’ve allowed to be placed on your site. The returns on your investment are likely to be small, but again there are ways you can maximize this; and it’s a viable second source of passive income to add to your main efforts. PPC (Pay Per Click) – this is where YOU do the paying for the clicks! The big advantage of setting up your own PPC ads lies in how quickly it can bring results into any marketing campaign. The drawbacks lie in how quickly you can run up huge costs that dwarf any profit – if you don’t know what you’re doing. Effective keyword research, setting your daily minimums sensibly, knowing your competitors and their keywords, and bidding shrewdly can really give your new projects a major search engine boost. And for all of these methods, thorough SEO (Search Engine Optimization) techniques and research should be used. All of these methods can produce widely variable results, depending on how you use them, and how dedicated you are in learning all the shortcuts, tricks and strategies. Let’s take affiliate marketing as an example. Not All Affiliate Marketing Methods are Created Equal… When it comes to affiliate products, you can run the gamut from setting up what is basically an e-commerce store (selling other peoples’ products) in order to supply a hungry market with highly specialized products (with all selling blatantly up front)… to simply blogging, providing reviews on products you yourself have tried. This can be as simple as honestly reporting your result on each product – with the major difference being that you always finish with a call to action. Your call to action should be to tell the people who have read that far – because they’re truly interested – where to find that product (namely: Your affiliate link!).
And if writing frightens the heck out of you, outsource. Hire a ghostwriter. Though it’s always better to do it yourself, if you can – it carries your authentic voice. And at the end of the day, your success will be based on how much people connect with you – and trust you! Remember that blog posts don’t have to be long – if you can say all you need to say in 300 words, so much the better! And you’re not producing Pulitzer-prizing winning literature – you’re talking to your reader, one on one… on a subject that’s all about her. And just as outsourcing is a key weapon you’ll want to add to your passive income arsenal as soon as you can afford it, let me mention another crucially important strategy: Finding a coach or a mentor, as soon as you can afford one. Most people who achieve big success attribute it to investing in this critical step. When should you seek a coach? Whenever you can’t see the forest for the trees – and as soon as you can afford one. And the good news is, there are coaching options for every budget. In short, there is a unique, viable way to create a passive source of income to suit almost everyone. If you start out simply – and the good news is, there actually are some really simple, easy strategies you can quickly learn and apply – you’ll find the strategy that sets your life on fire.
Passive Income Blueprint Believe it or not, information products are a billion dollar industry. When you hear numbers like that, it's hard to deny how valuable it is to create your own. Read my Passive Income Blueprint to learn my strategies for earning great money with your own information products. Click here to check it out for yourself today http://nofluffreports.com/passive-income-blueprint-strategies-for-earning-big-withinformation-products
Success Strategies for Marketing Your Online Business Offline If you're ready to go offline in a big way, be sure to grab a copy of my new report, "Success Strategies for Marketing Your Online Business Offline." It covers everything you need to get started with offline marketing, no matter what business you're in.
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Keyword Treasury - Discover The Hidden Gold In Your Keywords Want to know even more about conducting keyword research and using keywords to build a sustainable, profitable online business? Be sure to grab a copy of Keyword Treasury today. It's packed full of valuable information about researching and using keywords, including the five places your keywords must appear if you want your site to rank well.
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Business Advertising in a Social Media World If you need more information – instantly – on exactly what services each Social Media platform offers, you can find mini-reviews on 18 of the most popular in my Special Report.
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Business Blogger’s Manual - How To Increase Your Business Income… The Business Blogger’s Manual: “How To Increase Your Business Income With A Blog” is a 20 page informative report that will get you blogging, or improve what you are already doing with your blog. This report is designed to help you increase the bottom line of your business. It helps you by showing you exactly what you need to do to get you blog of the ground the right way. Everything you need to know is packed into this report that was created to help your blog attract quality traffic. You may not have another chance to grab a report this valuable.
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Information Product Brainstorm - From Ideas To Creation It really is possible to create an information product empire. Getting started might be the hardest part, but my report: Information Product Brainstorm, will help you earn the title Information Marketer in record time. Grab a copy today, and you'll get your first product online quickly and easily.
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Membership Sites Roadmap Not sure a membership site is right for you? Don't worry! A membership site can work in any niche from weight loss to real estate to gardening. Anything people want or need to learn about a topic, there's room for a membership site, because the truth is, people will pay for quality information. If you can fulfill that need, then you owe it to yourself to grab a copy of Membership Site Roadmap.
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Niche Marketing - Busting the Saturation Myth Did you know that most new businesses fail? Don’t be a statistic. Do your research, find a great niche, and in no time at all you’ll be one of those marketers who only work a few hours a day. Go get your copy of “Niche Marketing: Busting the Saturation Myth” and get started right away.
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Online Membership Site Manual So many people are looking for ways to either start their own online business or increase the profits of their current Internet business. One way to create more money for you is to start a membership website. The benefits of owning a membership site are numerous. If you're looking for a way to increase your online business profits or even start your very first business on the web, I recommend you take a look at this in-depth report all about membership sites. You'll learn what they are, how they work and even get ideas for starting your own quickly and affordably.
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The Essential Guide To Outsourcing Online You can't afford not to look at how outsourcing can have a positive impact on the profits of your business. So, hurry over and get your copy of this informative and business changing report right now. You'll learn how to quickly implement outsourcing in your business so you can start increasing your profits without wasting any precious time.
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Product Launch Wealth - How To Successfully Launch Your New Product Have Them Begging to Buy Your Info Product. Info product creators everywhere are missing out on something by quickly throwing together a product and sales avenue online. They're missing out on a whole lot of money that COULD be in their pocket if they would just do one thing before they rush to get their product up and selling. With info products, it's all about the pre-launch! You've got to get your prospects excited about what you're going to offer. Make them really anticipate the launch and want your product before it ever even hits the web.
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Sales Funnel Strategies Starting your online business with sales funnels is an important process. The best way to open the door to success is by starting at the beginning. “Sales Funnel Strategies: How to Work Your Sales Funnel for Bigger Profits” can walk you through the entire process, step by step to optimize every chance you have for success. You and your business deserve the very best in order to get your online venture running and profiting as quickly as possible. Why wait any longer?
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StumbleUpon Unmasked In “StumbleUpon Unmasked”, I’ll be sharing not only simple yet effective strategies, but also some surprising statistics and facts about Facebook. Yes, I did say “Facebook”; and yes, it is still the # 1 social networking site – but that’s exactly *why* StumbleUpon is even more important to use! If you’re interested, take a look at all the other benefits my “StumbleUpon Unmasked” offers.
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Twitter Marketing Guide Using Twitter for marketing is cheap and effective. But in order to make the most of it, you need to know what Twitter users respond to. Check out my “Twitter Marketing Guide: How to Use Twitter as a Marketing Tool” today, and learn how you can “tweet” your way to success!
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Upsell Profit Tactics You can use the information provided in my report; Upsell Profit Tactics, and start using what you learn right away to start making more money. This is not something that you want to miss out on. It is a great ebook waiting for you to grab it, read it, learn, and grow your business as a result.
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YouTube Marketing Uncovered Many tips you can really use and implement – even if video marketing is brand new to you. Put all tips together, and you’ve got something more useful than a step-by-step manual that’s out of date the moment you download it: You’ve got a report that quickly teaches you how to adapt even as YouTube changes itself – because it focuses on universal techniques that always work, as well as YouTube specifics that don’t change.
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How To Host Successful Money Making Webinars Are you dreaming of building a responsive, profitable list? Are you looking for another way to connect with your target market while establishing your expertise in your niche? Do you want to give your potential customers a way to learn about you and your products or services in real time on an interactive platform? Webinars are the answer you've been searching for.
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