I can't imagine how many people probably search high and low for a way to make money doing nothing. They try to find out how they can get money by sitting around doing nothing. It just doesn't make sense. Why would someone every give money to someone else for no reason? That's essentially what they would be doing, right?
Ultimately, you can't make money doing nothing. In order to get paid, you have to be paid and if nobody is willing to pay you for no work, you're not going to get paid.
Making Money Takes Work
If you want to make money, you have to work for it. If you go to a job and do your work, your employer will pay you. If you want to make money, you have to work for you. It doesn't matter what you're doing, whether you have a job or your own business, you are doing work at some point.
Then there comes making more money. If you want to make more money, you have to work more, right? To an extent, yes. There is also a way to make more money by working more temporarily and then it stops, in a way. This is referred to as passive income.
What is Passive Income?
Passive income is something that will definitely excite you. It is when you make money continuously without doing anything. Now I know what you are saying, isn't that the same as making money doing nothing? Not exactly.
This is how it normally works, you do some amount of work initially and then you keep making money consistently. You might continue to do periodic work, but generally, you should be able to make money all the time, even when you're sitting around doing nothing.
How can this be? Who's going to pay you when you're not doing anything? There are two general ways to accumulate passive income. They are investing and having a business. We will discuss investing and how it can be passive income, and we will use the example of an online business as a passive income business.
Investing can Be Passive Income
Investing is one great way to make passive income. It is passive income because you invest in them the value continues to increase. The value of your portfolio continues to increase over time no matter what securities and investments you invest in.
For example, let's say you buy 100 shares of stock of a company at a price of $15 per share. You pay a total of $1,500. Over the next couple of years while you hold on to the stock, the value goes up consistently. You are making money, yet you aren't doing anything. You might also get paid dividends, again, for doing nothing.
The idea is that you are making money even while you are doing other things. It is not like working at a job where you get paid for the work you put in. You work for 40 hours and get paid for 40 hours of work. When you make passive income, you get paid regardless of how many hours of work you put in.
An Online Business Can be Passive Income
You can also earn passive income, or making money doing nothing, in other ways. One way is a business such as an online business. With an online business, you can set up a money making machine and still make money even while you are not working. You can even make money while you sleep.
What is an online business? As with other businesses that are not online, brick and mortar businesses, there are many different types of online businesses. You can sell a product, or you can market other people's products. You can sell advertising space on your site or you can build a paid membership site.
How is this passive income? Simple. Let's assume you have an online business where you build a website selling beauty products. You market your website for a few hours each day and you get a commission each time someone buys because you are an affiliate for an online drugstore.
Even while you aren't working, visitors are still coming to your site. Some come and go while others stick around and buy the products. Each time they buy a product, you get paid, even when you sleep. This is passive income.
The less time you have to spend working, the more passive that income becomes. Some people seek out nearly 100% passive income while others like something that they can make more money with and have a flexible work schedule. Maybe you could work 20 hours a week and yet still be making money 24/7. You are making money but with minimal work.
There are all kinds of business models that have varying degrees of passiveness. Some might require a couple hours a week of work while others are full time and then some. You might feel like it's not passive because you are working full time, but if you are making money while not working, it is passive. Even if you work 60 hours a week and you earn money 168 hours a week, you have those 108 other hours of being passive income. That is huge. How often do you get paid for doing nothing?
This type of income can become more passive also by becoming more successful. As a website blossoms and business booms, you might need to spend less time. Hopefully, you can spend less time which will make it more passive. The less time you have to spend on a business, the more money you can make. That is a great goal to have.
If you can build a passive income business to completely support you or even help you out alongside your regular business, you can really help yourself out. If you want to make money doing nothing, passive income is the way to go. You will love the opportunities it gives you.