The internet makes business transportable. We can trade goods and services everywhere we go, and make money while we do. What a wonderful improvement from catching the bus to work and making a profit for the owner. Financial freedom is three things rolled into one.
- It is doing what we want to, and when we feel like doing it.
- It is receiving every penny for our efforts, not supporting the manager
- It is having money to do the things we want, and travel
Financial freedom is investing effort up front to reap the benefits later. Passive income earners who work hard could earn as much money as some executives. Imagine having no office rent to pay, no employees to hassle you, and no power struggles with the boss.
Today, we want to share two examples of how to earn passive income, so you can do what you want to do when you want, earn every penny from your efforts, and have money to travel and enjoy life. These examples are so simple you will wonder why not everybody is doing it. They think making money cannot be that simple. It is that easy. We are living proof, and we are here to explain how.
Example of Passive Income
Let’s use an author as an example. An author earns passive income. Why? Let’s say you write a book about a specific topic for a specific audience. It is hard work upfront and the author doesn’t get paid for the hours they work. Instead they get paid on book sales. If the book took you 30 hours to write and you want to earn $100/hour that would be $3,000 if they were just hired to write it. Being paid on book sales requires you to sell just 300 copies to earn the same $3,000 and get paid your $100/hour. But here is where the magic happens. That book remains available for purchase. Let’s say your target audience for that book is about 300,000. If you are able to penetrate just 10% of that audience that is upwards of $300,000 at $10/book. You see passive income is all about doing work up front that will continue to pay you over and over into the future without having to put in more work to earn that income. This puts that author in control of their time, they choose how much they want to earn. They can take that extra time they have to write another book, travel or spend time with their family. The choice is theirs. So what if you don’t have it in you to write a book?
Affiliate Marketing – Anyone can start earning passive income.
The success of an author depends on their ability to convince people to buy something they have not seen, largely on trust. You could make money for sure, but there is an element of risk. If you had an exclusive on the next Harry Potter, that would be different.
Affiliate marketing is where you help share a product or a service. You promote proven products or services with real value in the marketplace. When your customers shop you earn a percentage of the profits. Two Ways You Earn Passive Income
1. After their first order, they continue to re-purchase the product or service. You worked one time to get them to try the product or service and continue to get paid each time they re-order.
2. When they tell their friends, you start adding passive income to your earnings each time one of your friends tells someone about the products or services.
If you simply continue to share the products or services with others, you will continue to increase your earnings on a consistent basis because you are paid a percentage of profits.
Eventually, you could become self-employed and earn more than your boss!
The Way Forward Into Your Financial Freedom
Because affiliate marketing is not a franchise business it doesn’t require a big upfront investment to start out. If you are willing to put in some sweat equity in the beginning you can build a passive income to last a lifetime. We want to show you how countless others have been able to build successful businesses promoting our business and how you can copy them to get similar results following our business plan.