Making Passive Income

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Founder of Practical Profit Solutions Kevin has been generating Internet related income for nearly 17 years and made his fist online sale within 20 minutes of going live. He is the original ‘LifeStyle Entrepreneur’ and works from his beach-side home in the West Country of the UK!

Kevin has written 40 awesome articles for us at Ongoing Profit Streams

March 28, 2012 · 0 comments

in Articles, Blog, Lifestyle, Tips and techniques, Where to get started

Making passive income is the entrepreneurial aim and objective of most of us because it provides ongoing financial security without constantly having to work for it or participate in the RAT RACE. Making a passive income is the difference between having a job or creating your product or service just once and then selling it many, if not UNLIMITED TIMES.

You are not restricted to how many passive income streams you can develop so if you stay firmly focused on making passive income streams work for you, after a while you could end up with multiple streams of residual income all working on your behalf even when you are sleeping, relaxing or away on holiday.

This is not a dream; ANYONE including you can do it if you truly want to.

The BIG challenge…

Unfortunately, for most of the population, they are firmly caught in the money trap and high outgoing expenses and are simply too busy working at generating a weekly wage to concentrate on making passive income, it’s a sort of catch 22 scenario

You don’t need more money because you will simply spend it, what you really need is a SMARTER strategy and making passive income streams will make the difference.

The right attitude…

However, if you desire financial freedom you MUST MAKE THE EFFORT!

Making passive income is NOT so difficult when you know how and have the right Mindset. Like most new things which you start the first few step are always going to be the most difficult. The as you learn and gain understanding it begins to get MUCH EASIER!

Probably the best thing about making passive income streams is that you can get started very part time and immediately without giving up your present income. That’s because establishing some types of new income streams only requires a little time on a regular basis to make them work. In fact, consistency and investing a little of your valuable time regularly is a wise way of progressing and getting started.

Where do you begin?

There are lots of ways of establishing your own profit stream and they all start with knowledge and preparation. Below I will give you two methods which will help you establish your first profit stream in the shortest possible time, and on a part time basis. These are NOT the only methods, but they are the ones with the least financial risk attached to them as well as low start-up costs.

Start small and gain experience!

Now I know that this is fairly obvious advice, but I am repeating it here because most people ignore it and begin working on a making passive income with a project which is way beyond their ability and available free development time, and for that reason fail. Their project quickly grows into a monster which totally consumes them and gives them stress and at the same time their passion and enthusiasm for starting another smaller project.

This IS NOT a smart action…

So please remember start with gaining as much knowledge as possible and then take the time to thoroughly prepare because making passive income streams is not a race or just a destination, it’s more of a lifestyle so enjoy the journey. However, if you work at it on a daily basis for just an hour or so you will reach a point where you have developed some great wealth generating habits and everything becomes much easier and your income stream starts putting money in your bank account leaving you free to begin work on the next profit stream.

Making passive income…

At this time and without experience I would suggest that you seriously consider establishing an Internet related income stream for a numbers of reasons a few of which I have listed below:

  • There are just SO MANY opportunities available to you
  • Some of them will fit you like a made-to-measure suit
  • You can get started with a low or EVEN no budget at all
  • You can get started part time and work from the comfort of your own home
  • It’s engaging and very fulfilling and a skill you will benefit from for all of your life
  • If you are reading this then you already have a computer and Internet access
  • You have access to a WORLDWIDE audience
  • It can provide you with an enviable lifestyle which others only dream of having

The reason I am so passionate about generating Internet related profit streams is because I have been doing so for the past 17 years and although I have had many failures and made many mistakes along the way which have been positive learning curves that helped me advance. In fact, I truly believe that there is no better way of becoming financially independent and establishing an enviable lifestyle. You can learn more about my charmed life style by clicking on the following link, about me.

A few other ways of making passive income…

MLM – This is short for multilevel marketing and the concept is a really great one although many of the companies, management structures and payment schemes stop new prospects from ever getting rich or even making a worthwhile income, although there are some excellence schemes about. The main problem with MLM is that you could spend years building your business and down-line only to have the company sold from under you or have the goal posts moved, and your hard earned business is gone!

Okay, this is exceptional, but after investing your valuable time making passive income streams you DO NOT want to run the risk of anyone else taking them away from you!

Property – Owning properties from which you generate passive income streams has to be the ultimate in making passive income. However, for the inexperienced now is not a good time to invest because the market is unstable and it is possible that if you invested today a year from now you could find yourself with a negative income stream which means you have to pay ongoing income into just to keep it. Renovating buy to sell properties is a different proposition if you know how to work the numbers so you are left with a positive income stream.

Automatic dispensers – These could be candy or drinks machines or one of a wide range of possibilities and I threw this one in as an example of a potential profit stream. I have a friend who has over two hundred dispensers sited in prime locations and from the brand new Bentley he has just purchased for himself I would say he is making a very lucrative income so stay open minded to all possibilities.

These are just the tip of the iceberg and there are many others which you will learn of as you start your journey and increase your knowledge and advance. I wish you luck!

Making passive income

I Recommend!

You invest a little time investigating the ‘Fast Track’ to wealth membership program because the methods are tried, tested and proven to work and will provide you with a WIDE VARIETY of methods of establishing your own stream, or MULTIPLE STREAMS of ONGOING income.Click here to discover more...

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