Making money from home and online has become the trend and the topic of conversation for this generation. It’s not abnormal, to hear how a stay at home mom who was bored at home and started blogging just to have something to do, quickly turned things around on her blog to earn a 5 figure per month income.
When I first got started online, I wasn’t sure things worked and how people were able to magically make money online, but I was determined to figure it out.
Fast forward to over 7 years later, I now know beyond a shadow of doubt that it’s possible and I know exactly what to do to make it happen.
I am now taking everything that I’ve learned, packaging it up here on my blog, and proving that it works, while giving you a look over my shoulder at how I’m setting up Passive Income Streams leveraging my blog.
Screw It! Just Do It!
For years I’ve followed tons of bloggers and watched them build high 5 & 6 figure “per month” passive incomes over time through their blog. I had huge ambitions of doing that myself, but for various reasons, I allowed myself to constantly get distracted and didn’t stick things out long enough to build a solid foundation that would create passive income for me.
When I think back on where I would be today if I stayed focused on building my blog, I get a little disgruntled. However, instead of dwelling on what could have been, I’m getting back to the basics and saying “Screw it, Let’s do it!”.
Over the course of this year, you will be able to walk through this journey with me as I set my blog up to build my ultimate goal for 2016, which is $40K Per Month of Passive Income.
As I shared in my 2016 goals post, I want to build my income to $40K Passive Income Monthly, so this is how I’ve mapped things out for my business based on my quarterly goals:
- Quarter 1: $10K Passive Income
- Quarter 2: $20K Passive Income
- Quarter 3: $30K Passive Income
- Quarter 4: $40K Passive Income
This may appear as super-ambitious to those who have never done this before, and probably like I’m taking steps backwards in income from my peers who are already making tons of money online. But to be honest, this is the year that I am committed to “SLOW DOWN TO SPEED UP”, so I’m going to take my time with building a solid foundation with my business, quarter by quarter, to ensure that I am building strong passive income streams that will grow over time.
Because of this ambitious goal, I will be sharing with you what this looks like from behind the scenes, so you can know clearly how this process evolves over time, and what steps I’m taking to create the income .
$10K Passive Income
So what does it take to generate $10K in Passive Income?
In order to build this successfully, there are a few key things that are essentials to this process:
- 1. A Blog
- 2. Valuable High Quality Content
- 3. Build An Email List
- 4. Implement Monetization Strategies
- 5. Build Your Following
Let’s talk about these….
Your blog is your home base. It’s the place where you will build your business over time, and if you were building a house, your blog would be your foundation.
Let me give you an example, if you desire to sell your own product, you can store it on your blog. If you desire to write a book and sell it, you can do it from your blog. If you desire to promote a new product for a company that you’re apart of, you can do it from your blog.
Blogs are today’s version of websites, and the reason they’re so attractive and hot, is because unlike a website that remains static, a blog is constantly updated with new information which makes your blog super friendly to the search engines!
Information has become the new currency, and if you’re in position to share what you know with the world by way of a blog, then you can easily cash in on what you know (better known as Intellectual Property), and I’ll share with you how.
2. Provide Valuable Content…
There’s more to the story of making money blogging, than just creating a blog. In order to differentiate yourself from anyone else, you will need to provide valuable content that makes people want to come back. This post for example, is a headliner that will make people race over to read it because they want to know “HOW CAN I MAKE $10K BLOGGING?”… and my goal is to show you exactly how, while sharing how I’m doing it.
Content is truly king, and creating High Quality Content is the door that will open up opportunities for you to generate an income blogging.
If you’re totally new at this and you have absolutely NO IDEA what to talk about, here’s my suggestion:
- Share your journey with the “look at what I’m doing and how I’m doing it approach”… similar to this blog post OR
- Share what you’ve learned with resources that’s showing you the “HOW” of creating your success
There are tons of bloggers who’ve done this and what’s beautiful is that you can see how they’ve progressed over the years. Know that this is a marathon, not a sprint, so be committed for the long haul to truly produce what you desire to see. And if you document that by way of your blog along the way and be faithful in it, then you’ll see things explode for your business.
3. Email List…
In order to stay connected to your audience, you’ll want to capture their email address so you can send them updates and valuable information that will help them.
Although junk mail has consumed so many of our inboxes, people still find value in searching through their inbox for content that is relevant and valuable for them today.
In order to build a list, you need tools like Aweber, or Mailchimp, and you will set these tools up in places where you can gather the information from your visitors, on your blog. Don’t worry about doing this now, I’ve mapped out a full guide that will show you EXACTLY how to do this so stay tuned, that will all be available within the next few weeks.
There is a saying that the Money is in the List…
Whenever you’re launching any program, and you want to share insight about a webinar or product you’re releasing or simply want to build a relationship with your readers and followers, you simply do it by way of connecting with them via a list!
4. Monetization Strategies..
There are multiple ways you can monetize your blog. Here are a list of them to name a few:
- Affiliate Programs
- Paid Ads like Adsense
- Physical Products
- Digital Products
- Network Marketing
- Selling Subscriptions
Let’s talk about these various models then I’ll share what I’ll be using to set up my $10K Passive Income through my blog.
Affiliate programs are simply when you promote other peoples products and you get paid for it. It’s actually one of the best business models that I recommend for blogs starting out for various reasons:
- You don’t have to worry about creating anything
- You don’t have to worry about fulfillment, meaning shipping products to customers. You simply just promote the product, and when they click on the link, you’ll get paid
- It doesn’t cost you anything to get started.
I love Affiliate Marketing and it’s how I got my start. It’s also one of the ways that I use to generate income today.
This is when you allow promotions on your site, and every time someone clicks on that promoted ad or link, you get paid.
There are different carriers like Google Adsense and Conversant Media that you can leverage for your paid ads.
I’ll be honest with you, I choose not to use Paid Ads because I feel like it clutters up your website (in my opinion). But, it’s still a very viable strategy for income generation.
Physical products are another fun way to increase your income on your blog. This is where you have a book, cd audio, or some form of tangibles that someone can purchase from you that shares information that is beneficial to your audience.
I have several products that I’ll be turning into physical products that are currently digital products. In addition to my own products, I’m looking into creating an E-commerce store through Amazon this year selling physical products. Im in the research phase of exactly what I want to sell, but there are so many products that you can personally sell, that someone else created.
For example, I’m a sales rep for a company that has physical products and the products are very high in demand and sell extremely well, so I have a website where I sell those products here.
Other forms of Physical Product sales is if you like to make handmade products, you can sell on sites like etsy.com.
As I’m going through the process of building out my Amazon Store, I’ll be sharing it with you, and the process of finding physical products to sell, so stay tuned for that!
Digital products are a way to package your knowledge up and position them through a medium that allows instant delivery to the buyer.
There are multiple ways to create Digital products like:
- Audio products (like Itunes downloads, or mp3 products)
- Ebooks (like Kindle Ebooks)
- Membership Sites
These are just a few of the many ways you can generate an income through the use of digital products. This is one of the quickest ways to package your knowledge and convert it into cash for a low investment.
I’m a huge fan for using digital products when you’re first getting started. So if you want to learn how to package these, stay tuned, I’ll be sharing a lot about this in my $10K Passive Income Process.
Offering services is another way to earn “right now money”. If you’re great at writing, organizing, technology or a specific program or service, then you want to put yourself out there with that skill because so many people are waiting on you.
When I first got started online, I provided many services. Here’s just a brief list of all the things I did to generate income when I got started:
- Blog Developer
- Ghost Writer (I wrote a book for someone in less than 2 months)
- Article Writer
- Virtual Assistant
- Social Media Manager
The bottom line with services is that if you have a skill, and you need income, then you’ll want to leverage those skills, and do a killer job doing it, to generate some right now money!
My recommendation is for you to take an assessment of what your’e good at, and identify if there’s an audience out there that are willing to pay you to use your skills for their benefit.
Another way to generate Passive Income is to partner with an existing company within the Network Marketing Industry. This has been a very popular source for “getting started” to creating income working from home. It does take a certain personality type to be able to build a solid network marketing company.
I’ve personally gotten my start leveraging this platform. I’ve been able to earn a great income through this platform while generating residual income over time from the businesses I’ve been connected to.
If you want to win big in this industry, I highly recommend that you become a student of what it takes to win in this industry in order to really convert sales and generate income.
This is pretty simple, you create products like tshirts, mugs, and accessories, and sell them. However, there’s much more to the story than that.
The best way to maximize this strategy is to build a movement around what you’re selling, or sell highly niched based products.
You may have also heard a lot about the Shopify movement and the TeeSpring Movement that’s happening where people are generating great incomes from selling merchandise.
There’s so many ways you can leverage this. I’ll be interviewing someone soon who will share how they’ve leveraged these resources to build solid business models.
Building a business where you’re able to generate recurring income is key “if you’re willing to maintain it”.
There are pros and cons to creating recurring business models and I’ve heard both sides. The secret is being sure that you have systems in place to support them when buidling them out.
Examples of subscription sites are things like:
- Tools we use online like Aweber, Leadpages, Bluehost
- Also, membership sites can be on a recurring business model
Over the next couple of months, you will hear me talk more about this business model and how I’m implementing it into my Monetization Strategies.
5. Build Your Following
The name of the game online is to build your Tribe! You want to build a loyal following of individuals who read your blog posts, watch your videos and constantly share your content with others. This is the secret sauce to building a consistent business. You can’t have business if you don’t have loyal readers who will buy into what you have to offer.
The way to build a following is to implement #2 by providing High Quality Content that your loyal readers want to read, and #3, build that email list so you can stay connected to them.
After every post that I write, which ranges between 1-2 per week, I send an email to my list so they can stay plugged in to what I’m writing and sharing. This in turn, if the content is valuable, has them waiting and salivating for your content because they know that whatever you’re sharing is going to be a benefit to them and allow them to learn something knew that they can implement to create their own income streams online.
That’s why “High Quality Content” is critical. This post for example is called an “Anchor Post”, where I’m providing clear insight into what I’m doing, and what can be done to create an income online, in full detail.
You’re better off having Anchor post that go above and beyond to provide insight and instructions for someone, rather than providing daily blog posts that are extremely vague and people rarely want to read.
My Passive Income Strategy
Over the next 3 months, I’m focusing on a few key of these strategies to build my $10K of Passive Income. To be honest, I currently earn $10K Passive Income already from the Network Marketing Company that I am connected to. However, my goal is to do that on my blog where it’s not tied to other peoples performance, and that way the current income I’m earning from that company can be an added bonus to what my blog will create.
Here are the 5 Strategies I’ll be using to Create Passive Income in this 1st Quarter:
- Affiliate Programs
- Physical Products
- Digital Products
- Network Marketing
- Selling Subscriptions
I currently have a few key Affiliate Programs that I’ll be focusing on to build up my income in this area. The secret to affiliate program promotions is to find a company you believe in, you use or have used yourself, and has a great financial payout for all the referrals you send their way.
I have several products that I’ve created that I will convert into physical products. I’m learning that people love physical stuff that come in the mail so I’m converting several of my products into tangible products they can use.
I already have several of these as you can find on my store, as well as my PLR Store here. I want to up the ante of high quality digital products that others can access. So I’ll be working on that over the next few months.
I’m connected to a company now, so this is already working. As shared above, I’m already earning $10K+ per month with it, so this will be extra income that will be the gravy on top!
I’m putting my site together now that will be set up in a membership site format. I’m still weighing out how I want to do this, so stay tuned, I’ll be sharing with you over time, how this will all work!
Over the next few months, I’ll be sharing with you the Who, What, When, Where, Why and How I’m setting things up. I have a few key projects I need to put in place to support the above processes, which I’ll share with you as I’m working on them.
This will be an exciting journey. Something I “shoulda, coulda, woulda” done years ago. But hey, the time is now! And this time, you get to watch it all manifest!
Comment below and share, I’d love to hear from you!
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