Building residual passive income through activities like affiliate marketing, writing for sites that share earning, or selling items can be a great way to make extra cash. But for many, it can be hard to get started.
For one thing, it can be difficult to find time to work on passive income streams when you already have a paying job or client work. Sacrificing the time you spend doing work you know you'll soon be paid for to do something that may take a long time to generate earnings is a difficult decision to make.
To make it easier, set a target date for working on passive income. In the weeks or months before that, save as much as you can to make up for the difference in earnings. Then, if you can, let your clients or employer know that you'll be unavailable for a short period of time. If you're able to work vacation time into your contract, this is the time to take one.
Another option for finding time: work on passive income for a short period of time, every day or several times a week. Even twenty minutes of work can eventually pay off.
Even if you don't have a lot of paying work to do, it can be difficult to get down to work to build passive income. There are so many choices available that finding the right niche can be overwhelming. You may spend so much time doing research on opportunities and getting inspired by others' success that you are unable to make a choice and focus on getting things done.
To remedy this, commit to a date in the future when you will absolutely do something! Use the time in between to brainstorm with yourself and do research on opportunities. Spend some time at the end of each week going over what you've learned, and work on forming a plan. Remember that the niche you choose should be fun â something that you will enjoy working on. It will also be easier if you pick a topic that you are already knowledgeable about, or are able to learn quickly.
Once you commit to building income and make a plan to get started, you'll have to do some follow up tasks regularly. This shouldn't take too much time and can be built into your schedule. Soon you'll see the benefits of your hard work and focus.