Wednesday, March 28, 2012

Passive Income? Is it possible to earn a passive income online

Yes you Can Earn a Passive Income Working Online - and I will prove it.
What is passive income and why do we strive to achieve it?

Passive income is an income received on a regular basis, with little effort required to maintain it.

I wanted to write something about a recent event in my life that made me realise, all the work I have been doing online has indeed lead to me earning a passive income online.
Meaning I could actually take some time off and still earn online without worrying.

When I first started out working online it seemed the amount of effort I was having to put in > to how much I was earning was way below national minimum wage? You know what I mean, that first payday, when you eventually reach the payout threshold, and see not even dollars but....cents.... and you are just about ready to give up working online and go back to the regular job of 70 hours weeks.

 Looking at this graph of my earnings I could have easily given up in March, but I did not I just kept going, I knew it would work, I believed in myself. Can you see the graph just keeps rising? (date shows Oct11, but actually it is until January payout.)

This Christmas I had a great Christmas I had worked hard to make sure all my web pages were updated, good products, great content, I had also at this point started to replace affiliate links with my own affiliate links (this is a huge job, but worth it you will find out) then a disaster happened in my family.

I basically spent nearly 3 months in an intensive Care unit, willing my big brother on. Nothing was further from my mind than my online work. Sadly my brother passed away, and I was left devastated. I took a lot of time off.
now before this happened I would spend nearly every waking moment checking, updating, republishing, checking again and again..... I thought that was what was making me money, during this off period of time, I did not update, I did not check nothing, my little account just ticked over itself.

But one day an envelope arrived in the post, it was from it included a cheque.....holy moley Christmas had been great! I rushed online to check the stats and could not believe my eyes, earnings from Squidoo had basically still risen! Even although I had changed 50 % of links on page to my own affiliate account to amazon,
**Someone just emailed me to ask a Question: I'm just starting on Squidoo should I just use my own affiliate links
In all honesty NO,  to start with I would not recommend you use ALL your own affiliate links? why not?
 Squidoo rewards you on lensrank and within their system there is an extra boost for sales via them, yes you share the revenue with Squidoo however whilst you are building your online profile, your knowledge about working online,
Amazon has different % to reach and it is difficult to maximise that % unless you have built good traffic to your pages.
The law of averages kicks in the more traffic clicks through to amazon the higher your sales....
So in the beginning use the modules like Amazon Spotlight,(my favourite and googles too!)  working with Squidoo, when you are able to see what is selling, and you have a solid lens with good organic "google" traffic, what links are being clicked on then start to replace these with your own affiliate links.

This will mean you will probably find your lens will drop in lensrank BUT your earnings will RISE in Amazon commissions. 
This is where you are heading, where you are not dependant on lensrank or any sites internal payment structure, will these sites be around forever?  If they disappeared tomorrow how would you still earn money? have you created blog posts or websites to compliment your pages

By the way, I am no good with maths, I just seem to work get paid and don't work things out, My outrageous habit of saying ooohhh....look at my earnings on paypal, and not really looking at to where it has come from!

But my husband loves figures, and he worked out that even in the 3 month period of doing very little I still had an average increase of 20% a month  (and this is the man who used to question what I was doing? wasting my time online.... who has now given up his full time job to allow me to work online full time and more! He is now a proud house husband, and does the Maths part for 

Wait - I did not nothing for 3 months yet still had increase, yes it was Christmas time, which he tried to include for and put into context. (By giving the average increase. )

So yes you can earn a residual/passive income from working online. But I do indeed work hard but it did indeed pay off when I most needed it.

I do not know anyone who has gotten to the top without hard work. That is the recipe. It will not always get you to the top, but it will get you pretty near.....Margaret Thatcher (Britain's first Woman Prime Minister)

I lost not only my brother, but indeed my biggest supporter of my dreams, no matter how crazy my little ideas for webpages, he was there telling me how fantastic they were, thanks Gav x

Page of NOTE: update for Penguin 2.0 is this the end for Affiliate Marketing