If you've been following our series on escaping the rat race, then by now you should have a strong foundation of how to actually do it.
First we gave you a general overview of how to escape the 9 to 5, which you can find here. Then we showed you how to avoid becoming a slave to your job (you can find that one here).
One of the biggest ideas you need to understand, if you ever want to be free from the system, or the 'man'. Is the concept of passive income, which we have briefly went over in this guide.
The purpose of this article, is to give you realistic and specific methods of generating passive income, so you can finally start living the 'good life'... per say.
It's also understandable that a lot of people reading this may not be making much money currently. It's okay, we'll show you how to get around these financial barriers and get started. So, without further ado, let's get you started (you'll be telling your boss to shove it in no time).
First of all, in case you've forgotten, let's summarise what passive income actually is.
Passive income is money that is generated from something you own, that doesn't require you to continually trade you time and resources to generate cash flow.
Why is this idea so special? Passive income is beautiful because it allows you to free up your time and make money without having to be tied down to a job or business.
If done right, you can put yourself in a position, were you're working just a few hours a week and making enough money to live the life you want. Even then it's hardly working in a conventional sense.
Your actually in a good position in this respect. Being broke always seems to make people more creative and it seems to be when the magic happens during entrepreneurship.
Now, yes you won't have the money to invest in resources if you're broke, but what people fail to realize, is what they have the power to do, with the resources they already have.
You can literally monetize ANYTHING if you're creative enough.
You see this thing your looking at right now? That big network of computers and information you have access to? That box on your desk that allows you to connect to millions of people across the globe?
That's right, the internet is your friend. And there is no better time to invest in the internet than right now.
This isn't one of them cheesy ads for stay at home mums. There is legit ways of making serious money from the internet and you don't need to buy a magic formula, just to see the opportunities that are out there.
They're literally just waiting for you.
Lets run through a few, shall we?
First up is affiliate marketing. To make more sales, what a business will often do is set up an affiliate program. This is when they pay people to promote their products for them and give them a commission (percentage of the sale), as an incentive for people to sell their product.
So, say for example you make a blog about health and fitness and get a nice following behind you. What you can then do is reach out to business's in your niche (health and fitness) who have affiliate programs. You then promote these products to your loyal followers and when they buy one of the products from your links, then you get paid.
Bonus tip: If you have a blog with lots of followers, you can also make passive money from putting Google ads on the site x
Amazon run a great affiliate program (see here). Along with affiliate marketplaces like 'Clickbank' (see here) for those who want to make serious money from promoting products.
This brings us on to your next option. Online Marketplaces are a great place to start selling products, without the hassle of doing your own marketing. Sites like Ebay and Amazon get a disgusting amount of traffic a day. A portion of that which can be re-directed to your product.
Here's a little known fact, you don't need any money to start making cash online, kiddo. You can just sell E commerce products. These are products such as Ebooks or music, that are sold within the digital realm.
It's even better if you have expert knowledge in a subject, as you can sell information products. These can be educational courses or informative Ebooks on a subject or solution you know well.
Play guitar? Sell online guitar lessons. Write blogs? Sell courses on how to run successful blogs. It really is that simple. People will pay you, if you have a solution to one of their problems.
Notice how all of these methods, (once you have got them going), don't require any further work.
They will continue to generate you money, no matter what you do.
Well you could grab your one-way ticket to the Bahamas, whilst sipping a martini. Or, you can be a little smart about it and start re-investing.
If you want to remain free, you need to start getting into the habit of re-investing a percentage of your earnings, into some form of asset.
Now, passive income is a long-term game. So in the early stages we're not exactly going to be buying penthouses to let, or investing in Google stock's just yet are we now?
No. What you should do to begin with though, is invest part of your earnings into low-risk, low-priced online assets that will gradually generate you more and more money.
Remember. An assets is something that pays you.
Sites like Flippa or Empire Flippers, allow you to invest in already established online business's and domains. You can use your left over cash to buy this online property, which will in turn generate you more background money.
Hurray!
You could even buy some wholesale products and start selling them through amazons drop shipping service 'FBA'. Amongst other drop shipping sites such as Red Bubble or Cafe Press for the UK (more on drop shipping in another article).
The more and more cash generating systems you buy with your left over cash, the more and more money you will start making automatically, with very little work investment from yourself.
I know this is a lot to take in, so it's worth reading through this guide again. What your going to ntie is that, all of these methods can be started with literally no start up capital. Sure, it's going to take you some time to get going. But nothing worth having comes easy. Just think about how much yo'll thank yourself in a few years when your sitting on a beach, whilst all your friends are stuck in an office.
Are you really serious about this? Do you have a burning desire to be free?
If so, then time is of the essence and understandably you're going to want to get there as quick as possible. As we've noted before, this stuff takes a lot of trial and error. By now, you should understand that being free comes at a price.
Why wait for someone else to take up your opportunities? If you want to get there as quick as possible, you are going to need a step by step guide designed by someone who knows the game inside out.
When your ready to start making serious passive income and freeing yourself from the rat race, head of to CB Passive Income (The Grandaddy of Passive Income guides).
If your're deadly serious about this, which I'm assuming you are, as you're still reading, huh?
:)
Then investing in yourself and learning as much as possible can about the topic is what you need to do.
You'll also gain a solid step-by-step structure on how to get started today. This, my friend is the only true way of generating passive income quickly.
Thanks for reading and remember to stay free!
First we gave you a general overview of how to escape the 9 to 5, which you can find here. Then we showed you how to avoid becoming a slave to your job (you can find that one here).
One of the biggest ideas you need to understand, if you ever want to be free from the system, or the 'man'. Is the concept of passive income, which we have briefly went over in this guide.
The purpose of this article, is to give you realistic and specific methods of generating passive income, so you can finally start living the 'good life'... per say.
It's also understandable that a lot of people reading this may not be making much money currently. It's okay, we'll show you how to get around these financial barriers and get started. So, without further ado, let's get you started (you'll be telling your boss to shove it in no time).
First of all, in case you've forgotten, let's summarise what passive income actually is.
Passive income is money that is generated from something you own, that doesn't require you to continually trade you time and resources to generate cash flow.
Why is this idea so special? Passive income is beautiful because it allows you to free up your time and make money without having to be tied down to a job or business.
If done right, you can put yourself in a position, were you're working just a few hours a week and making enough money to live the life you want. Even then it's hardly working in a conventional sense.
How Do I Make Passive Income When I Have No Money?
Your actually in a good position in this respect. Being broke always seems to make people more creative and it seems to be when the magic happens during entrepreneurship.
Now, yes you won't have the money to invest in resources if you're broke, but what people fail to realize, is what they have the power to do, with the resources they already have.
You can literally monetize ANYTHING if you're creative enough.
You see this thing your looking at right now? That big network of computers and information you have access to? That box on your desk that allows you to connect to millions of people across the globe?
That's right, the internet is your friend. And there is no better time to invest in the internet than right now.
How can I make money of the internet?
This isn't one of them cheesy ads for stay at home mums. There is legit ways of making serious money from the internet and you don't need to buy a magic formula, just to see the opportunities that are out there.
They're literally just waiting for you.
Lets run through a few, shall we?
First up is affiliate marketing. To make more sales, what a business will often do is set up an affiliate program. This is when they pay people to promote their products for them and give them a commission (percentage of the sale), as an incentive for people to sell their product.
So, say for example you make a blog about health and fitness and get a nice following behind you. What you can then do is reach out to business's in your niche (health and fitness) who have affiliate programs. You then promote these products to your loyal followers and when they buy one of the products from your links, then you get paid.Bonus tip: If you have a blog with lots of followers, you can also make passive money from putting Google ads on the site x
Amazon run a great affiliate program (see here). Along with affiliate marketplaces like 'Clickbank' (see here) for those who want to make serious money from promoting products.
This brings us on to your next option. Online Marketplaces are a great place to start selling products, without the hassle of doing your own marketing. Sites like Ebay and Amazon get a disgusting amount of traffic a day. A portion of that which can be re-directed to your product.
But I don't have any money to make a product?
Here's a little known fact, you don't need any money to start making cash online, kiddo. You can just sell E commerce products. These are products such as Ebooks or music, that are sold within the digital realm.
It's even better if you have expert knowledge in a subject, as you can sell information products. These can be educational courses or informative Ebooks on a subject or solution you know well.
Play guitar? Sell online guitar lessons. Write blogs? Sell courses on how to run successful blogs. It really is that simple. People will pay you, if you have a solution to one of their problems.
Notice how all of these methods, (once you have got them going), don't require any further work.
They will continue to generate you money, no matter what you do.
What Do I Do Once I Start Making Passive Income?
Well you could grab your one-way ticket to the Bahamas, whilst sipping a martini. Or, you can be a little smart about it and start re-investing.
If you want to remain free, you need to start getting into the habit of re-investing a percentage of your earnings, into some form of asset.
Now, passive income is a long-term game. So in the early stages we're not exactly going to be buying penthouses to let, or investing in Google stock's just yet are we now?
No. What you should do to begin with though, is invest part of your earnings into low-risk, low-priced online assets that will gradually generate you more and more money.
Remember. An assets is something that pays you.
Sites like Flippa or Empire Flippers, allow you to invest in already established online business's and domains. You can use your left over cash to buy this online property, which will in turn generate you more background money.
You could even buy some wholesale products and start selling them through amazons drop shipping service 'FBA'. Amongst other drop shipping sites such as Red Bubble or Cafe Press for the UK (more on drop shipping in another article).
The more and more cash generating systems you buy with your left over cash, the more and more money you will start making automatically, with very little work investment from yourself.
I know this is a lot to take in, so it's worth reading through this guide again. What your going to ntie is that, all of these methods can be started with literally no start up capital. Sure, it's going to take you some time to get going. But nothing worth having comes easy. Just think about how much yo'll thank yourself in a few years when your sitting on a beach, whilst all your friends are stuck in an office.
What is The Quickest Way to Make Passive Income?
Are you really serious about this? Do you have a burning desire to be free?
If so, then time is of the essence and understandably you're going to want to get there as quick as possible. As we've noted before, this stuff takes a lot of trial and error. By now, you should understand that being free comes at a price.
Why wait for someone else to take up your opportunities? If you want to get there as quick as possible, you are going to need a step by step guide designed by someone who knows the game inside out.
When your ready to start making serious passive income and freeing yourself from the rat race, head of to CB Passive Income (The Grandaddy of Passive Income guides).
If your're deadly serious about this, which I'm assuming you are, as you're still reading, huh?
:)
Then investing in yourself and learning as much as possible can about the topic is what you need to do.
You'll also gain a solid step-by-step structure on how to get started today. This, my friend is the only true way of generating passive income quickly.
Thanks for reading and remember to stay free!
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