I am a huge fan of passive income! In fact for a about a year, all I did was work to generate passive income. My family thought I was crazy when I spent hours on the computer writing articles, promoting content and much much more. Still some people consider it dumb to spend hours working to get a few penny's a month. In total I made a decent amount of money from passive income and in the coming years I will probably make more but I continue to ponder a question. Is Passive income really passive? I continually work to promote my content to get traffic. If I do not then my earnings suffer, so am I really making passive income?
How Does Passive Income Work
Passive income basically means that you do some work now, and you reap the benefits later. The whole concept is that you make stuff today and then sit back and let the money flow in. I used to preach this concept many times in my articles. I advised my readers to make content today in the form of articles,videos, and blurbs of text. I then stated that they would earn money from this content over the years. This is true. I do not dispute this fact. The real concern is that how much money are you going to make? You can make a few dollars or a few thousand of dollars. Once you have created the content you must promote it in order to make decent money. This is where passive income turns into a continuous effort.
Yes it's true you must promote content. It is not enough to write an article and let it sit. I have over 150 articles. I should be making around 50 dollars a year easily. Thats around 30 cents an article for the whole year. In the first 6 months of 2013 I made 3 dollars. 3 dollars!!!!! That is not good. Why did I make so little? It was because I did not promote my content. I got a few hundred visits to my articles. I should have gotten a few thousand visits. I can leave my articles as they are today and maybe have almost 30 dollars after five years, but that is not what I want to do. I want to make 50,100,1000 even 5,000 dollars a year. That is a nice chunk of income. The only way to do this is to promote your articles. Promotion is not a one time thing. It is a constant process that never ends.
I do not want to discourage you from making passive income. In fact I encourage you to do it but be aware that it is not a one time thing. You have to constantly work at it.
Things are not always as they appear. As I get older, I may not have the time required to dedicate to my internet ventures. To make passive income takes serious dedication. In order to make a significant amount of money I will have to work for at least 10 hours a week.
The two tips I want to pass on to you is that
- Passive Income is not an entirely passive thing
- Do not over extend yourself.
Passive income is not 100% passive. It takes constant work.
Do not get into too many ventures. See how much time you have to spend and use it wisely, when I first started I saw thousands of advertisements to make passive income. I joined a bunch of programs. I overextended myself. Now I only use about 5 websites to generate passive income, I spend a manageable amount of time and do not bother with the cheap get rich quick schemes.