The Truth Behind Making Passive Income Online
The Truth Behind Making Passive Income Online is an article that spills the beans on the concept of making easy money online.
I know the only reason you’re reading this article is because you want an answer straight away so let’s start with some questions and answers because you are so bloody impatient.
- Can you make passive income online? Yes you can
- Can you make a lucrative career from it? Yes you can
- Have I made money from passive income online? Yes I have
- Did I make a fortune? No, I didn’t but I know people who have, so I know it works
It seems that all the above answers are positive, doesn’t it?
The Truth Behind Making Passive Income Online
If you’re online like most people today, you have surely come across ads and tik toks to make money online. These ads have two things in common when it comes to their messaging:
- Anybody can do it
- It’s so easy
This very deceiving messaging is what gives the concept of passive income a terrible name.
This messaging takes something that works and almost turns it into a con or a pyramid scheme or something of that nature.
You have to remember anything with such a low barrier to entry is going to be part of a saturated market. Meaning competition is overwhelming and your chances of success are tiny.
The trick of the people selling these methods is not to sell the method but to sell you the idea of it being easy and that even you can do it.
Who Succeeds?
Based on my experience and research talking to other professionals on the scene it would be fair to say that less than 5% of people that pursue passive income online make a decent return for their efforts.
Furthermore, the people that do make great financial gains online dedicate themselves to understanding and pursuing the concept of passive income to the point of it being an obsession.
There are many ways to make money online – I wrote articles on it, and you can read them here How To Make Money Online – 10 Legit Ways To Make Money and Passive Income Online and 10 Ways to Monetize Content and How People go Wrong!
I used to have an online community as well with around 1.5 million people on it, that I fed into a content website, which I then harnessed to make passive income online. At best I earned a living wage. I was making money but I couldn’t crack the code to take me to the next level.
I’ve started up several other online passive income generation sites and I’ve tried selling so many different things.
I’ve pursued affiliate marketing and selling content – none of which brought me much success, but it has done for plenty of other people around the world.
The truth about making passive income online is that these techniques work in theory. The concept is good. Furthermore, it is a proven method of making money. People become incredibly wealthy from it.
However, the likelihood of you succeeding in a completely saturated market is so minuscule that if you want to have a chance of succeeding you must completely dedicate yourself to the practice and ignore everyone that’s trying to sell you some crap telling you that it’s easy and effortless.
Watch out for snakes in the grass
The people that are telling you that it is so easy you will find are people trying to sell you a course on how to make money online.
This is their hook. Convince you it is easy. Get you to download something for free, whereby you give them your details and then they market to you selling you an entry-level product and then they upsell you repeatedly.
Often these products multiply in value by 10 each time ie €30, €300, €3000. It will generally be a similar scale to that.
You can learn from them, you can earn money however most likely you will be just throwing your money away gaining nothing but life experience.
If I could pay for things with life experience I think I could pay for my own private jet by now.
To improve your chances of succeeding online I’m going to outline what I’ve seen work for others.
- Don’t be naive – you’re going to have to study and work bloody hard to crack this market – It’s possible!
- You’re going to need one of two things – either youth and endless amounts of free time or a budget of between €10,000-€20,000 to invest to get the expert guidance you need as well as spending money on advertising, software, and maybe some hardware as well.
- Like anything you’ll ever be successful at you’ll need a winning mindset to take you through the journey. Allowing yourself to fall and rise again repeatedly.
These are the things I have seen work for people who have made it online and generate high volumes of passive income.
So let’s sum up making passive income online.
It works, but it’s not easy and it does take a certain type of person to make it work. You need to be honest with yourself, maybe that’s just not you. This is the truth behind making passive income online.
Unfortunatly a lot of good people pursue making passive income online because they are roped into the concept of it being easy only to feel completely useless and incompetent when they realize that its really not for them.
This for me is unfortunate, nobody should be set up to feel like that. You could perceive it as a dirty rotten trick by the marketer, however, this is the nature of a lot of marketing – to be relatable even at the cost of deception.
Hopefully now if you pursue making passive income online, you’ll go into it with open eyes.
I’m Scott D. Renwick – a free thinker, blogger, entrepreneur, and landscape contractor at your service.