Flynn, who blogs at Smart Passive Income and discusses his secrets at the Smart Passive Income podcast, defines passive income as “building online businesses that take advantage of systems of automations that allow transactions, cash flow and growth without requiring a real-time presence.
Creating passive income definitely does not sound easy. It requires a serious ramp-up, often requires 80 to 100 hour workweeks in the beginning. There are some top tips for getting started generating your own passive income.
Before Begin, You Need To Make Sure That It Not Just For Money
If you care more about making money than serving your audience, you won’t succeed. These have seen that people nowadays do something just for the money. Your intentions should about helping them to make other feel better.
Be prepared to put in serious time upfront
The overnight success is not exists. This is because if we want to get the most successful sites, it took a year or year and a half to build audiences. It is not a simple as we expected.
Throw your thought that once you’ve created the product, you can sit back and buff your nails
Even with real estate you still have to manage your properties, or even with the stock market, which is potentially passive income. Then, you still have to manage your portfolio.
In order to keep audience automated and keep that trust going with your audience on top of that, you do have to keep it up every once in a while, so a lot of time upfront and a little time after. But there is always time involved.
Find A Market You Can Help If You Want To Do This
You have to specialize and niche down and find a market with a pain point that you, based on your experience, based on your education and based on your passion that can help. You will earn something on how well you serve that particular audience.
Then, the more your message resonates with them, the more opportunities you’ll have to sell to them.
Consider Whether You’d Be Happy Serving This Market Several Years From Now
Don’t pick a topic just because it’s hot. If you can imagine yourself happily writing on this subject and coming up with new products in this space five or 10 years from now, that ups your chance of success.
Find out how that audience is already being served And What Gap You Can Fill
Don’t get scared off if others are already in the top. Do not see others bloggers as competition but see them as opportunities. You need to figure out your unique selling proposition, what advantage you can offer that the market currently lacks.
Do not afraid to share your failures or where your income comes from. You need to think I’m not benefitting from putting my story on there, but it helps me establish a relationship with people there.
Build your platform
When you have chosen your market, find a platform to start sharing your message, whether it’s a blog or podcast or Youtube channel that makes the most sense for your target market. This is the ways for you to collect your subscriber emails.
Use your platform to build your audience, and when you’re starting out, take advantage of the fact that you don’t have a big following to give more personalized help to your first fans.
Offer them value for free
The best way to go in terms of a long-term passive income business which is delivering value and information to your audience for free, and therefore establishing expertise, knowledge and trust with your audience.
Figure out what product will best serve them
You need to ask your audience directly what would serve them best, or look at what they’re saying on Twitter, Facebook or other websites, to find out what problems your audience have and how you could help solve them.
If you are scared about launching a new product, and think you might need some feedback from your audience to make it really good. So then you will give a best serve for them.
As you start to make money, remember that money is not only your main target
Once you have seen some success, don’t be led astray by the money. You need to know that trust you have with your audience is the most important thing in the world. When you start to do things for money, you start to lie in your sales.
It is important to know your motivation. You need to think that Passive income is not just important to us and not just for the financial security but it also with your family. And also want to help other people do the same thing of what you do.
Also, check this out and start earning passive income now!