Internet Marketing as One Source Of Passive Business Income
If you are working full time on a job, Internet Marketing is a great idea for a part-time passive business to build. This can be a good source of additional income in addition to your regular monthly income. You can start the business with very little capital investment. You can work this part-time business 5-10 hours a week.
What is Internet Marketing for extra income?
Before, it was direct marketing. But with the popularity of internet, it is now internet marketing. It is where you have your own website to do the marketing. In addition to your own website, you can use as well other social media like Facebook, Twitter, and others, to market your products or other people’s products. This requires knowledge in social media marketing or internet marketing to become successful.
The best products you can offer are learning or digital information in the form of EBooks, audio and video tutorials, webinars, etc. If you’ve just started, you can market other people’s products. You can become an affiliate of Amazon and create links on your website to their products. If your visitors click the link from your website to Amazon, you could earn commissions on every sale. I say “you could” because it’s not always. You don’t have any control.
In my case, with my desire to recover financially, I keep learning and researching about how I can succeed with my personal finance. From my learning, I plan to write books, create video tutorials in the future. I love to find solutions to my problem. So if I can change my situation from being broke to becoming a millionaire doing things in a certain way, then other people might be able to solve their financial problems using the same, too.
I wrote contents on my blog as well. If I can provide valuable contents that more and more people will consume, I can accept advertiser to advertise on my website to earn extra income.
Why have part time passive business for extra income?
The idea of having a part time passive business like Internet Marketing is to have extra source of money to fund your passive capital for investments. If you were able to simplify your lifestyle so as your income from your full time job will be enough to live comfortably, most of your extra income will allow you to feed your passive capital. Your full time job income should cover your lifestyle (household expenses), your passive capital, your active capital, and your giving & sharing. Then your passive business income will go to your investments after taking out the 10% for your giving & sharing.
The amount you can allot for your passive investment is the one that can bring change to your future lifestyle: to become debt free, enough emergency fund on the side, buy a bigger home, buy a new car, family vacations, and most important – make the transition from your full time job to full time passive business.
Stay on your full-time JOB as much as you can while building your part-time passive business. Once your passive business income is twice as much as your full time job income, that’s the time you have to make a plan to move from the status of “full time job and part time business” into a “full time passive business”. Working together with your active income (job), your passive business income (part time business), and your passive investment income (your money working for you), your journey to financial freedom will drastically shorten.
Click the photo to request your free copy of Pinoy Millionaire Game Plan to learn more about the strategy I’m playing to win the money game. I’m sure this will give you additional idea that you can apply to your personal finance as well.
While you are building your money machine, your job is your best source of income that can set aside for your investment and to support your lifestyle. Don’t quit too soon. Keep working as much as you can. Then slowly build a passive business income so that you can add more money to your investment to achieve your financial freedom.
Here’s to your success!