Passive income : develop a passive income empire :... (PDF) (2024)

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Passive Income:Develop A Passive Income Empire: CompleteBeginners Guide To Building Riches ThroughMultiple StreamsSimon Wolf

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© Copyright 2016 - All rights reserved.In no way is it legal to reproduce, duplicate, or transmit any part of thisdocument in either electronic means or in printed format. Recording of thispublication is strictly prohibited and any storage of this document is not allowedunless with written permission from the publisher. All rights reserved.The information provided herein is stated to be truthful and consistent, in thatany liability, in terms of inattention or otherwise, by any usage or abuse of anypolicies, processes, or directions contained within is the solitary and utterresponsibility of the recipient reader. Under no circ*mstances will any legalresponsibility or blame be held against the publisher for any reparation,damages, or monetary loss due to the information herein, either directly orindirectly.Respective authors own all copyrights not held by the publisher.Legal Notice:This book is copyright protected. This is only for personal use. You cannotamend, distribute, sell, use, quote or paraphrase any part or the content withinthis book without the consent of the author or copyright owner. Legal action willbe pursued if this is breached.Disclaimer Notice:Please note the information contained within this document is for educationaland entertainment purposes only. Every attempt has been made to provide

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accurate, up to date and reliable complete information. No warranties of anykind are expressed or implied. Readers acknowledge that the author is notengaging in the rendering of legal, financial, medical or professional advice.By reading this document, the reader agrees that under no circ*mstances are weresponsible for any losses, direct or indirect, which are incurred as a result of theuse of information contained within this document, including, but not limited to,— errors, omissions, or inaccuracies.

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Table Of ContentsINTRODUCTION:CHAPTER 1: PASSIVE INCOME 101CHAPTER 2: KINDLE PUBLISHINGCHAPTER 3: AMAZON FBACHAPTER 4: NICHE WEBSITESCHAPTER 5: AFFILIATE MARKETINGCHAPTER 6: EMAIL MARKETINGCHAPTER 7: UDEMY (ONLINE COURSES)CONCLUSION:

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INTRODUCTION:The cost of living just continues to go up year in, year out. But let’s face it, ourincomes aren’t necessarily growing in the same proportion. What happens thesedays is many of us need to take on 2 or 3 jobs just to be able to save up for thefuture. In fact, some people need to take on 2 to 3 jobs just to survive.Unfortunately, all of us have been given the same number of hours every day —24. If we take on extra jobs, guess what? Our 24 hours remain 24 hours and assuch, time for rest and family are compromised.Sure, working longer hours and more jobs will usually guarantee more income.But, a time comes when you may begin asking questions. Is it really worth it?How far do you have to go until the tremendous effort and excruciating laboryou invest through your own sweat and hard work begin to outweigh the benefitsyou reap? At which point do you stop and realize that the sheer force of yourcommitment is about to render your income negligible?While this level of dedication and diligence is most commendable, it is also notvery common nowadays. This is exactly why you should look for alternate paths,where your hard work can be aimed at building a business of your own, thusmaking it finally pay off for you.The fruits of your work should benefit you, and you first. Think of all thesuccessful people today, and all those before them through the ages. Try andimagine what kind of attitude and outlook they had in life. That’s right, theanswer is obvious. With the exception of those to the manor born, those peoplewere never lazy; they couldn’t be. These are individuals who had their prioritiesright, and knew exactly where to direct their energy — into making theirbusiness work for them. They chose to build a source of income on their own

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instead of investing countless hours into a dead-end job never destined to go toofar.Is there a way to earn more money without having to work more hours everyday? Yes, there is. It’s called passive income. Of course, this is not a quit-your-job-and-get-rich-right-now type of solution, but a new path to gradually turn to,a path that may very well lead to prosperity too. At the risk of sounding toocoarse, mere survival is no way to go through life, especially now when a worldof opportunity is right before us.Passive income simply means you make your money or resources work for you.Passive income, at the core, allows you to earn much money without doing muchwork. While it may require a bit of effort and time at the beginning, that won’tbe the case once your passive income system is up and running. You’ll beworking less and earning more.Although making a breakthrough and establishing a successful passive incomebusiness may be a demanding task, at first, it will certainly pay off later.Freedom, independence and an all but full control of your own time are some ofthe perks of this kind of business venture. Granted, the first steps towards yourpassive income system will require work, sometimes even hard work, but theend goal makes it all worthwhile. One way of looking at it would be this: withina year’s time, with consistent effort, you may be well on your road to bothfreedom and security. Needless to mention, many people work an entire lifetimetowards this goal, only to achieve it at old age.The world in which we find ourselves today is increasingly dominated bytechnology. Some voices warn of technology “taking over our jobs,”marginalizing human effort and work, but they are failing to see the big picture.What’s more, who’d want a back-breaking, painstaking job anyway, if analternative can be to pull in that currency from the comfort of your armchair?With continuous technological advances come whole new markets, and thus afull spectrum of income sources, so easily accessible to millions.

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In particular, we’ll be looking at online sources of passive income in this book.You’ll learn to do so via Kindle self publishing, Amazon FBA, niche websites,affiliate marketing, email marketing and online courses on Udemy. Thesesystems don’t’ need much in investments by way of capital. You’ll just need toput in the work at the beginning and cruise thereafter when all’s up and running.Back when we were just kids, a lot of us were taught that it is better to do ourhomework as soon as we got home. Why? This is because that way we wouldhave more time for playing later, and we would have no worries about ourobligations ruining our fun. Not to mention, there would be none of thoseunpleasant moments when time’s running out, and you find yourself knee-deepin assignments.Well, passive income is a lot like doing your homework as soon as you’re home.You will put in the work right away, but with the aim of having more time torelax later.So are you ready? If you are, turn the page and let’s begin.

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CHAPTER 1: PASSIVE INCOME 101Passive income is one that you earn without doing much work or workingsignificantly less, i.e., while being “passive”. Active income is the salary youearn from being employed. Passive income is interest in your bank deposits orinvestments in Treasury bills. Active income is the professional fee you earn forrendering consultancy services. Passive income is earning rental income fromthe apartment unit you’re leasing out. It is money dripping into your pocket froman (ideally) autonomous system you have established.Active requires work. Passive requires little or none at all.Gaining active employment is also less work than setting up your passiveincome platform. This is another way in which the two differ, with an activeincome job the work begins after you become involved in the process. On theother hand, when it comes to passive income, most of the work comes at the startwhile you’re still building the business, after that the idea is to work less and lessover time. The two choices develop in opposite directions as you can see, butthey both serve to reach the same goal — making money.The key advantage in favor of passive income is that with some effort and ideas,you can end up earning more, or even much more than you would in an average,regular job. At the very least, you should reach the point where your income isequal to that of an average job, but you will still be working significantly less!THE FORMULAEarning passive income isn’t instant. In fact, it may seem ironic but it actuallyrequires a lot of hard work. But this hard work is mostly confined at thebeginning and once the system’s up and running, you’ll hardly ever need to

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work, especially if you let other people manage it for you. So without pre-empting the discussion, I present to you the passive income formula.CreationOnly God can create something from nothing. You can’t. So if you want tocreate passive income, you need to have the materials you need to build it with— a system.This is where most if not all the hard work, time and resources are very muchneeded. It’s because this is the foundation. Have you ever seen a building beingconstructed? Probably 70% of the time spent on constructing one is spent on thefoundations. In fact, it’s the reason why we think buildings are relatively fast tobuild — the construction of everything else above the foundation is quick once asolid foundation’s in place, which takes time.It’s the same with your online passive income systems. You need to set up theright systems and set them right if you are to consistently earn passive income.You can’t squeeze blood from the air and as such, you’ll need to createsomething — a product or service to sell.In addition to effort and diligence, which are really crucial, you should also seethis as the part where any and all creativity you have may be most beneficial.Don’t be afraid to consider your own ideas as a possible recipe for success, butdo be cautious. Your personal hopes and visions for the kind of business youwant to start may be hard to capitalize on, so be prepared to make compromisesto maximize your chances of success. At the same time, that one idea you’ve hadfor the longest time somewhere in the back of your head may, in fact, have theperfect place on the mountain of opportunity that is the Internet. The best way tosuccessfully adapt is through market study and tons of research, as informationis power. Armed with the info and a thorough understanding of the markets you