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Is It Possible to Make Passive Income Online? – Discover the Simple and Basic Tips

By The 1-Hour Workweek 4 years ago2 Comments

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The rapid advancement of technology has not only changed the way that businesses are done in today’s world but Businesses  themselves become technology. Emerging online progression enabled many people to earn money online, to work online, to invest online, to promote and build their businesses online and to make multiple Streams of Passive Income Online. But many people are questioning if it is really possible to make passive income online even if we are not a Tech-savvy person, professional web designer, business owner or even if we don’t have enough funds to start building an online business?

The answer to the question “Is it possible to make Passive Income Online?” would vary from person to person. The answer can be “Yes”, “No” or “Maybe”, it depends on the perception of the person answering.

If the person believes it is possible to make Passive Income Online, then IT REALLY IS POSSIBLE. But if the person has a strong disbelief in the possibility of Online Passive Money making, then definitely it would be impossible for that person to make multiple streams of passive income online.  It can also be a “Maybe” for someone who doubts its possibility. Now, if you are reading this article, you must be also wondering if it is really possible for you to make Passive Income Online and being said that it is a self-answerable question, hence, only you can give an exact answer for yourself to that question. If you are doubtful of its possibility or if you firmly believe it is not possible to make passive income online, don’t worry, we can always change our beliefs. Sometimes our beliefs work against us and oftentimes our beliefs are misinterpretation of past events or based on other people’s experiences that we have witnessed.  We need to stop our limiting beliefs, always put it mind that there is always a way if we are committed.  Changing our beliefs can change our lives but you and only you can change a belief that might be keeping you from achieving the quality of life you are seeking.

Now that you have acquired the answer to the question “Is it possible to make Passive Income Online?” you must be fascinated to learn basic tips to make the possibility become a reality.

Success in Generating Passive Income Online is not as easy as counting 1, 2, 3, or a “Get rich Quick” Scheme, it is not instantly acquired or just given for free. It is just like planting a tree, you need to water it regularly and make it grow fully before it gives you fruits on its own.

 Tips On How To Successfully Generate Passive Income Online

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1.    One of the most imperative tips in earning passive income online is having the right mindset.

As mentioned earlier while answering the above question, we should first believe that there is money online and that we can really earn passive income online. How can we work or give effort and pursue on something we hardly believe to be true or possible? For us to be excellent in what we are doing, we should have strong will to continue no matter what, desire to reach our full potential and a strong belief for our own success. If we have this strong belief that we can earn online and great desire to build multiple streams of income online, we will surely be determined all the time and we will move forward even if there will be hard times and difficulties along our way in reaching our goal.

 2.    Choosing the Right Vehicle/Vehicles in building multiple Income streams.

After possessing the proper mindset and holding a strong belief about your goal, you should be able to choose the best ways or vehicles to be used in reaching your Online Passive Income Dream. I would like to emphasize the importance also of choosing more than one vehicle or building multiple streams of passive income sources. Why multiple sources of income? Simply because we can’t predict the future of our businesses/income sources, that’s why we need to diversify. Having multiple source of income will assure you that even if one source is gone, there will be other sources left to provide you income on a regular basis.

There are several ways to earn passive income online, some of those are listed below:

  • Blogging
  • Affiliate Marketing
  • Kindle Book Marketing / Publishing
  • Advertising (Ex. Google Adsense, Adhitz, Chitika)
  • Online Investments (Ex. Stock Dividends, Forex-Related Investments, Revenue Sharing Sites—but most of Online Investment Programs are High Risk Programs. Invest only what you can afford to lose.)
  • Article Writing (Become an approved writer of about.com and you will get paid by writing articles for around 2 years, then after that you can start earning passive income in the years to come from page views of all the articles you have written.)
  • Online Multilevel Marketing Companies- Choose those companies with sustainable compensation plan and with high quality products.
  • Forex Trading (On Autopilot)
  • Bitcoin (BTC) Mining (I chose to include this as one source of passive income online since Bitcoin’s popularity and rate is remarkably increasing and many BTC Miners are earning substantial passive income already.)
  • Creating a Smart Phone Application- You can earn Money when someone downloads and uses it.

In choosing your vehicle, you must consider your passion and abilities. Think of the things you are most capable of, things you enjoy the most, and things you are extremely passionate about.

3.    Focus on one area at a time, Start building your system or business and work for it diligently.

Though I have mentioned to diversify and make multiple streams of online income, I strongly suggest that we focus first on one vehicle.

  • Be Prepared. Study everything about your selected vehicle. Do a comprehensive research. (Ex. Your Market, Strategies to be used, Generating Leads, Traffic Sources, Social Media Uses)
  • Master the processes and apply what you have learned from your comprehensive research.
  • Put in your time, your energy, your effort and loads of your commitment.
  • Select your market devotedly and utilize the best tools (Ex. Member Subscription tools, Auto Responders for Email Marketing, Social Media Marketing and many more). Take full advantage of the new tools our online world offers.

4.    Continue Building your system, make it a lucrative source of passive income and then build another system.

It may take time before one vehicle starts generating passive income but always remember that every big thing started out small, so be patient. Always learn new things to improve your system/business and make it grow progressively. While waiting for it to provide you passive income, you may start diversifying and build another income source or system. Without diversification in your income source you are like putting all eggs in one basket and it is literally risky.

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 The 1-Hour Workweek

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I’m Tarence Wade, M.D., the creator of The 1-Hour Workweek. For 24 years, I worked as an ER physician, experiencing the financial pains & frustrations as well as the disparity in access to adequate healthcare for many of the people I served. Many were faced with long-term unemployment and couldn’t afford a primary physician. Some became disabled from injuries where they could no longer work. Others had chronic and debilitating health conditions and couldn’t afford even a $5 prescription to treat their conditions. I saw 3 major social crisis that existed in the people I vowed to serve. 1) They were unhappy, depressed and filled with anxiety from dealing with long-term unemployment and the lack of opportunity. 2) They had poor and declining health issues from the lack of access to affordable healthcare and proper health education. 3) They didn’t have the financial infrastructure to take care of the basic needs (e.g. adequate nutrition, clothing, shelter, healthy living conditions, etc.) for themselves and their families. Out of sheer frustration and concern, I made a commitment I would spend the rest of my life helping as many people possible to achieve the 4 Pillars of Success. Our 4 Pillars of Success  More Happiness o To become happier and to live a more stress-free life o To have more control and improved self-esteem over your life  More Healthy ¬Living o To make healthy living a central part of your life o To consume necessary vitamins and other nutrients in order to live a longer, stronger and a more vibrant life  More Time Freedom o To enjoy total time freedom in order to do the things you love to do o To spend lots of quality time with family, friend and loved ones  More Financial Freedom o To earn enough income quickly and easily without hassle to supplement or replace your monthly income o To build long-term financial freedom in the form passive income for a lifetime So for the past 8 years or more than 7,000 hours later, I have created an online community that helps network and online marketers set-up, manage, grow and market their business by “simplifying the marketing process” in order to gain Health, Happiness, Time-Freedom and Financial-Freedom. It’s called The 1-Hour Workweek. 1) You perform no more traditional network & online marketing 2) It’s FREE for you to join. 3) The 1-Hour Workweek performs 99.7% of the work of building, managing and growing your business. 4) You earn personal commissions & overrides to replace your monthly income [Timefreedomfirst]. 5) We pay you to purchase affordable high-quality products and services. As a loyal customer…we build you a team up to 19,530 affiliate partners (e.g. US, Canada, Australia, UK, and Philippines) for long term financial freedom [FinancialFreedomQuickly].

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