It\u2019s the financial golden ticket. The gift that keeps on giving. Practically free money streaming into your bank account on a monthly, weekly, or daily basis. And all it takes is a little strategically organized work up front. Once the system starts rolling, you \u201csit back\u201d and collect your passive income.<\/p>\n\n\n\n
Think of the royalties musicians get for their songs or actors and directors if they\u2019re participating in box office sales for their movies. For example, Robert Downey Jr. was paid $500,000 for his acting in the first\u00a0Iron Man<\/em>\u00a0film but earned three times that after the movie came out because of the profit-sharing \u201cback-end\u201d he had negotiated. And that\u2019s just a fraction of the estimated $75 million he pocketed for the last two\u00a0Avengers<\/em>\u00a0films.<\/p>\n\n\n\n Of course, you\u2019re not likely to see that much money in passive income, but entrepreneurs like Robert Kiyosaki and Tom Hopkins prove you can still be earning passive income decades after the initial work is done.<\/p>\n\n\n\n Passive income is awesome when you make money off a product or something you developed in the past and continue to make money off it after you\u2019ve stopped doing the work.<\/p>\n\n\n\n There\u2019s a whole range of passive income approaches, from absolutely no work to maybe just a few hours a month. The best passive income sources are the ones you can set up and forget about.<\/p>\n\n\n\n But most of these income sources are far from passive.<\/p>\n\n\n\n Yes, building a passive income online<\/a> is possible. The key is creating multiple streams of revenue. Whether you\u2019re trying to generate a monthly paycheck or create a constant stream of passive income<\/a>, there are two main paths you can take:<\/p>\n\n\n\n 1) Create an online product that people want and then sell it \u2013 this is known as a \u201cproduct-based\u201d business;<\/p>\n\n\n\n 2) Offer your skills and services directly to clients for a fee \u2013 this is known as a \u201cservice-based\u201d business.<\/p>\n\n\n\n 3) Invent a new product or service<\/p>\n\n\n\n There is a lot of misinformation and misconceptions about whether or not it is possible to build passive income. The truth, however, is that it is possible to accomplish any goal with the right knowledge, tools, and work ethic. And with the current inflation<\/a> rate affecting the amount of money each person has at the end of the month, there is no better time to add a second income stream.<\/p>\n\n\n\n Passive income has become a popular topic in recent years. Generating an income without doing much to earn it has attracted many. The internet allows us to earn money online<\/a>, but it does not happen overnight.<\/p>\n\n\n\n Generating an income online\u00a0is not easy. It takes time and lots of hard work to get anywhere. The good news is that passive income is possible; you just need the right strategy to get there.<\/p>\n\n\n\n Because of the power of digital marketing, there are so many opportunities to make passive income online. Anyone can do it with some time and resources.<\/p>\n\n\n\n One of these online income sources is almost completely passive. The best part is that it\u2019s an easy income source you can combine with one of the others. We\u2019re talking self-publishing here. Now before you click out, thinking you can\u2019t write a book, anyone can do this, and it will make you money every single month.<\/p>\n\n\n\n Five tips for a self-publishing passive income strategy are below, from developing your idea to launching the book, including how to set up a book to be almost completely passive after the launch.<\/p>\n\n\n\n When planning your book, brainstorm eight to twelve chapters and outline each and plan on writing a chapter a week. This will break the book into manageable chunks and keep you on track.<\/p>\n\n\n\n The second tip here is to use Amazon Marketing Services. This is how you\u00a0advertise your book\u00a0directly on Amazon, where people are most likely to buy it. For just about $20 per book each month, you can get hundreds of visitors to a book page and dozens of sales.<\/p>\n\n\n\n Amazon shows you exactly how much you\u2019re paying for your ads, what is working, and the return on each, so it\u2019s an easy system.<\/p>\n\n\n\n One of the most important things you can do to make self-publishing a passive income source is with a strong book launch strategy.<\/p>\n\n\n\n Months before you launch, you want to reach out to family and friends for a review. Don\u2019t just post on social media that you need help. Instead, email or message everyone individually. You\u2019ll get a lot better response, and people will follow through with their commitment.<\/p>\n\n\n\n Plan on lining up at least 15 to 20 reviews. Let people know that these don\u2019t have to be long, detailed reviews. You just need them to go to the Amazon page in those first couple of days, buy the book for $0.99 and then leave a few sentences for a review.<\/p>\n\n\n\n That launch for $0.99 is important because it gets you immediately on the paid ranking scale. Don\u2019t launch your book for free because it will lose its ranking when you switch to paid. At $0.99, it\u2019s not about the money, so you\u2019ll still get people that will support you, buy the book and leave a review.<\/p>\n\n\n\n This next tip is an easy one. If you\u2019ve got a website, you\u2019ve probably already got some way you share on social media.<\/p>\n\n\n\n Add ten social shares about your book. These are different shares to promote your book continuously on social media. So it can be things like interesting quotes or facts. It can be contributions from other people, be sure to tag them in the share. You want ten different tweets or social updates you can use to share on social. You\u2019ll continuously share these, maybe two a month, to get a few extra sales.<\/p>\n\n\n\n A word of caution, though \u2013 be sure to create posts on social media for other things besides promoting your book. Be social \u2013 post about life. Be helpful \u2013 promote someone else\u2019s work. Be positive \u2013 share good things and news, even if it\u2019s unrelated to your book. If all you do on social media is promote your source of passive income. people will tune it out, and so will Facebook, Twitter, etc\u2026 The algorithms can detect that you\u2019re just doing promotion and will reduce the reach of your posts.<\/p>\n\n\n\n Finally, write more than one book. Many authors publish one book and then get discouraged when they only make a hundred dollars a month.<\/p>\n\n\n\n Some books don\u2019t do that well.<\/p>\n\n\n\n Create two or three books a year, the numbers will work out for you, and you will be successful. Averaging around two hundred dollars a month on each book adds up when you\u2019ve got five books published. So that\u2019s an extra $1000 a month you could have coming in.<\/p>\n\n\n\n Self-publishing is not always easy, but it\u2019s one of the best passive income sources you\u2019ll find. You still have to develop, write and launch your book. But if it were easy, everyone would do it, and no one would make any money. Master this process, and you can create a new book every few months for a\u00a0passive income stream<\/a>\u00a0you can count on.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" It\u2019s the financial golden ticket. The gift that keeps on giving. Practically free money streaming into your bank account on<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[254,3421],"tags":[888,3428,3695],"_links":{"self":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/10714"}],"collection":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10714"}],"version-history":[{"count":1,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/10714\/revisions"}],"predecessor-version":[{"id":10715,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/10714\/revisions\/10715"}],"wp:attachment":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10714"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Can You Build Passive Income Online?<\/h2>\n\n\n\n
Self-Publishing<\/h2>\n\n\n\n
Thinking about Passive Income Strategically<\/h2>\n\n\n\n
Amazon Marketing Services<\/h2>\n\n\n\n
Building Passive Income Momentum with a Launch<\/h2>\n\n\n\n
Using Social Media to Create Passive Income Sales<\/h3>\n\n\n\n
Diversifying Your Passive Income Streams<\/h3>\n\n\n\n