I don't get this obsession with passive income... Why not build up a legitimate online business for an acquisition or hire someone to take care of your duties once it's established?
It seems like everyone wants to throw money at something or slap a blog together and collect a few grand a month. If it were that easy, everyone would be doing it. Alternatively, if you had 20K, you could potentially build 10 or more decent websites that would either connect to work together in a network or be stand-alone sites.
An example would be something like this:
Findphotographers.com, Findgraphicdesigners.com, findwebdevelopers.com, findplumbers.com... basically a connection of niche websites that would work together and you could have a banner much like themeforest.net connecting them altogether.
On the flip side, you could create 5-12 unique (preferably niche) sales or product sites where you could direct traffic to make money off affiliate products or referral links. The other option would be to make a good site...
For example, I'm starting a website. It's bootstrap so far but I'm probably going to be getting investors or at the very minimum a loan very soon. What I've spent to have the website created and commission an animation team to create promotional cartoons has cost me about $4000. This is with top of the line plugins and all. Bare in mind I did all of the designing for the website. Despite this, I'm visually not very creative and it was pretty hard for me to do and time consuming.
I'm writing all the content on the site and even writing the blog posts. It's a lot of work but I'm creating an awesome service in a relatively open and HUGE market (I'm actually combining 2 markets with my website, and creating the first online only business in the respective field.)
My game plan is to establish the website, develop a sales team - of which I already have a Project Manager, contact news agencies to bring a little exposure to the site, get on the dragons den/shark tank, build up the business and prepare for acquisition in 2-3 years. Although, if the business grows as I want it to, I may never sell it.
My point is, why not go all the way. I'm not saying internet business are the only way to go but they are definitely the easiest businesses to grow in a short amount of time and get a decent pay off (500K-1 Mil) within a few years. Go retire off that, why sell yourself short to 2K a month?
To commission a sales team you can begin with a location independent team based on a VOIP system and CRM. Cost per user on a mid-level call centre software will be around $100-200 per month. With these numbers you could:
Build a website: conservative $3000.
Build a sales team: 3 people x 150 a month = $450 a month.
Pay your team: 3 x $2000 monthly salary = $6000 a month.
You could cover your sales team operational costs for approx. 2 1/2 months and build a great website. Alternatively, you could do a commission plus draw system or strictly commission and save yourself a bunch of money operating easily for a year.
Maybe I'm overreaching here and I apologize if this doesn't fit your views but I'm surprised with all the talk of self improvement on RvF so many people are focusing on small time shit like making passive income vs. simply building a business and becoming a millionaire (easier than it sounds I know.) Anyways... this isn't the fastlane forum.
Peace.
It seems like everyone wants to throw money at something or slap a blog together and collect a few grand a month. If it were that easy, everyone would be doing it. Alternatively, if you had 20K, you could potentially build 10 or more decent websites that would either connect to work together in a network or be stand-alone sites.
An example would be something like this:
Findphotographers.com, Findgraphicdesigners.com, findwebdevelopers.com, findplumbers.com... basically a connection of niche websites that would work together and you could have a banner much like themeforest.net connecting them altogether.
On the flip side, you could create 5-12 unique (preferably niche) sales or product sites where you could direct traffic to make money off affiliate products or referral links. The other option would be to make a good site...
For example, I'm starting a website. It's bootstrap so far but I'm probably going to be getting investors or at the very minimum a loan very soon. What I've spent to have the website created and commission an animation team to create promotional cartoons has cost me about $4000. This is with top of the line plugins and all. Bare in mind I did all of the designing for the website. Despite this, I'm visually not very creative and it was pretty hard for me to do and time consuming.
I'm writing all the content on the site and even writing the blog posts. It's a lot of work but I'm creating an awesome service in a relatively open and HUGE market (I'm actually combining 2 markets with my website, and creating the first online only business in the respective field.)
My game plan is to establish the website, develop a sales team - of which I already have a Project Manager, contact news agencies to bring a little exposure to the site, get on the dragons den/shark tank, build up the business and prepare for acquisition in 2-3 years. Although, if the business grows as I want it to, I may never sell it.
My point is, why not go all the way. I'm not saying internet business are the only way to go but they are definitely the easiest businesses to grow in a short amount of time and get a decent pay off (500K-1 Mil) within a few years. Go retire off that, why sell yourself short to 2K a month?
To commission a sales team you can begin with a location independent team based on a VOIP system and CRM. Cost per user on a mid-level call centre software will be around $100-200 per month. With these numbers you could:
Build a website: conservative $3000.
Build a sales team: 3 people x 150 a month = $450 a month.
Pay your team: 3 x $2000 monthly salary = $6000 a month.
You could cover your sales team operational costs for approx. 2 1/2 months and build a great website. Alternatively, you could do a commission plus draw system or strictly commission and save yourself a bunch of money operating easily for a year.
Maybe I'm overreaching here and I apologize if this doesn't fit your views but I'm surprised with all the talk of self improvement on RvF so many people are focusing on small time shit like making passive income vs. simply building a business and becoming a millionaire (easier than it sounds I know.) Anyways... this isn't the fastlane forum.
Peace.