Is this Really Possible, 5K Passive Monthly Income
Whether you believe it or not, it is very possible. People are doing it everyday…. making money off Facebook (building apps for example) Myspace, creating software (or having someone create their idea for them) and countless other ways people are making a living and running businesses online. Forget brick and mortar stores, coffee shops, etc. The web is where it is baby! I can quickly find out if an idea is going to be profitable or not without having to go through all the bull of opening a shop of some sort. The only problem I have is having the time to implement all of my ideas. I am thinking about hiring a couple of people just to help implement some of them. Before I do such though, I will get everything lined up that I want them to do, so that I can benefit from economies of scale. Think you have to be a computer nerd to take advantage of this gold rush (which by the way is still going on after well over 10 years).. think again! You can be a general contractor of sorts… no programming experience necessary. Just an eagerness to learn, make mistakes then pick yourself up again and start over.
Believe it or not now is the best time in the history of our nation to start a business…. at least in my opinion. Especially an online business where the overhead is low and the profits are high… Or I should say, can be high. My mind is so full of ideas it would take me forever to complete them. I have been marketing online (among other things) for 10 years now. I have started and completed countless projects, some successful, some not.
As you have heard me mention on this blog and some of the other blogs I run, for those of you who follow.. I have a fascination with database driven sites. I have several database driven websites in my web portfolio, some do better than others. Do you know what type of database driven sites I do not have yet though? Contrary to what many people think? I do not have any online stores. So you may be wondering, database driven sites = stores? Yes, actually it does. Online stores have massive databases of products. Couple this with the sheer number of stores out there and you have millions of products sitting somewhere in databases. The databases output their product inventory in data feeds. Each store will let you download their datafeed to manipulate it on your site. Without going into all the boring details… You can use these datafeeds to create instant online stores….. something that you would have to pay a place like storesonline.com a fortune to build for you. More about storesonline.com some other time… I actually went to one of their scaminars which led me on the hunt to find out the best way to actually make money from these online stores. Anyway, more about that at some other time. So basically the formula is:
WP BLOG + DATAFEED + SEO = MONEY
Using this formula, it could potentially be a lot of money. Now this formula might sound very easy, but I intend on breaking each one down individually. I am going to pretend I know nothing about the above formula, just that it exists… and explain to you each part of the formula in detail. The beauty of this formula is that you can use it to create countless numbers of stores bringing you in money. Let’s do some math, this is real folks, you REALLY can do this… I have done it on other sites, I just do not have any online stores, YET. But I am always looking for a way to produce passive income. I can hire people to do this project for me, but I won’t just yet.. Economies of Scale will eventually kick in if you work it by yourself long enough, eventually you’ll be able to hire people to do the “grunt” work…. and yourself being basically the general contractor in the virtual world. It’s really not as hard as it seems.. You don’t need to be a computer programmer or anything fancy, just a strong desire to learn and get ahead. There is something great about being your own boss, not having to answer to anyone but yourself and sometimes the FTC (we’ll get into that later)
I love the fact that I can work from anywhere in the world, have others do as I wish them to do all along while I make money from the comfort of my office or home. I really am in complete control of my destiny. There is a video below that you should watch, I love this woman, she has the same mindset as myself…. She puts it much more eloquently than I can… be sure to watch the entire video.. she is very enlightening. She has created a physical empire whereas I am creating myself a virtual empire…. we are similar in many ways, just doing things differently in different times.
Before I forget, don’t be delusional and think that any one site will pull in 5K in profit in one month, this is not likely.. This is where the power of numbers comes in. You can implement the formula I gave you above in a day most likely. If you built one site in a day, at the end of the year you would have 365 sites. It would not be unreasonable for the average revenue of each site to be $20 a month. Not much money is it? You probably could not do much with $20 a month. Take that same $20 a month and multiply it by 365 and you have $7300 a month. You will have expenses, but for the most part, they will be minimal compared to the amount of money you are pulling in. Sounds crazy does it? Well the crazy part is, after you have it all set up.. it will continue to earn you money while you are out doing whatever. This money will go to your heirs upon your death, you will leave something for your family that will keep on giving. Want to do something nice for someone? Use the formula above and give them a website…. let them water it, nurture it and blossom…. It will be a gift that keeps on giving. Of course this isn’t for everyone, they will need to have some vision.. some people have it, some people don’t. I am not certain why, but some people just don’t see that there is an easier way out there.
Living off one website is equivalent to living off one piece of rental property if you are a real estate investor. It is very likely that owning one house will not be sufficient to keep you from having a job. If you have 100, that is another story. Don’t get me wrong, there are a quad-zillion ways to make money in real estate, not just owning rental property.. likewise with virtual real estate…. except there are a quad-zillion and ONE ways. Again, you will probably not make a lot of money with just one website. You need to keep building and promoting (applying the above formula) until you have reached the level you are comfortable with… and I mean comfortable with as far as quitting your day job. Because you can never have enough money! Just to give you a glimpse of what I’m talking about and what these sites can bring in as far as traffic, I am going to show you a sheet with some of my sites and their traffic stats. Be on the lookout for it… You can bet, that if you have traffic (appropriate traffic, more on that later) that you will make money.
So stay tuned while I go through each part of the formula so you can get past the equal sign to the almighty dollar!
Tags: 10 years, apps, best time, brick and mortar, brick and mortar stores, coffee, coffee shops, com, computer nerd, contractor, contrary, countless projects, creating software, database driven websites, detail, download, eagerness, economies of scale, everything, fascination, fortune, general contractor, gold rush, hunt, mortar, nerd, number, opening a shop, opinion, overhead, place, portfolio, programming experience, REALLY, shop, software, someone, something, sorts, store, time, type, video, web portfolio, YETRelated posts
Keyword Rich Domains? Do They Work? Online Stores: DatafeedR Project Update
RSS
Twitter
Google+
YouTube
Comments Closed
Comments are currently closed.