Yaro Starak wrote an interesting blog post the other day about passive income opportunities online.
In brief, he detailed how (if you filter out the spam), you can easily find opportunities, although most people fail to actually work those opportunities. We’ve all seen it – the website that is thrown up in hopes of generating leads or affiliate dollars – and never touched once the initial posts are published.
What struck me most, though, was his conversation with two business friends who have all the skills needed to succeed (Internet savvy, tech savvy, creativity, good work ethic), but have gotten caught in what Yaro sees as the time-consuming one-on-one trap of always chasing the next client.
In addition, because the two don’t really specialize, they end up competing on a price point with all the other jack-of-all-trades.
Sound familiar?
Thoughts on Internet Passive Income Opportunities
Like many, I run a service-oriented business. Occasionally, I find a great product I’d like to promote, or have created products of my own. But, as Yaro points out, the jack-of-all-trades consultant or coach is left in a position of keeping one eye on current clients while the other is constantly roaming the landscape in search of new clients. In my mind, this is a waste of both time and creative energy.
IMHO, a better use of time would be the creation of products and programs that keep current clients in the flow of my business, leaving one-on-one work for clients willing to pay higher dollars for your precious time. This is clearly NOT a new or complex concept – but one worth re-visiting.
Thanks for the read – and would appreciate your comments (below).
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Nancy, you’re right. Also, infommercials on TV and online are seductive with wild promises of instant riches or fast weight loss. Of course, “results may very” is always treated in such tiny fonts. Even “passive income” is somewhat of a misnomer, too. There is still a lot of hard work to achieve that level of revenue that makes a significant impact on your livelihood. I have helped some clients setup blogs and sites that encourage text link ads and they think the income will just come flooding in. They get discouraged when they get checks for $10 or $15/month only but I tell them these things take time.
I’d like to have about 100 sites bringing me in $10-$15 dollars a month that were easy to maintain.
I’m working with an adsense program now and it never promised riches, it told you up front it would be work and it is work. I’m a little disappointed it did not tell me upfront I needed a separate tool that cost more money to actually work the program as its talked about in the course, but over all the long tail keyword concept looks good to me if I could just get the hang of figuring out a long tail keyword structure to start out with and create a test site.
My blog is producing a little adsense income, about $10 a month and I’m making about $3 a month of affiliate income off the site, I actually want to change direction with by flagship blog and write general articles worth reading.
I also came up with an idea for a novel last night and I have wanted to write a fiction novel my entire life. The muse in my life is groaning for freedom and I think she is getting ready to flap her wings.
I have other forms of income I am making out of the home, but I really want to focus on passive forms of income so if I get sick, the bills still get paid. ( I’m not in that great a health )
I actually don’t make enough to really cover the bills yet so I have little money to pay for coaching or training and am basically having to train myself and somewhere I think I am missing something.
Your welcome to visit my blog and fee free to ignore the affiliate posts if you want, but there is some darn good writing there if I do say so myself. My latest post about the Onion article is pretty good in my opinion and its an area I like to write in.