Hi and welcome to Sure Passive Income Now’s (SPIN) blog.
Our goal is to share important information that can help you generate passive income. Not the kind of passive income you earn from investments of money, but the kind you earn by letting the power of the Internet work for you.
Someone once joked that “saying I make $10 an hour sounds a lot better than saying I sold an hour of my life for $10.” Unfortunately that’s what we do when we work at traditional jobs. We trade our time for money. No time spent, no money earned. And the limits are finite. There is only so much time in a day and only so many dollars a job is worth.
Passive income is compensation that you are paid after the work is done. It is the residual effect of having initial time spent pay off over and over again. Money that you earn without being present. An old nickname for passive income was mailbox money, meaning you opened your mailbox each morning and found new purchases for products you previously promoted. You earned while you slept.
Don’t misunderstand. This type of passive income is not free. There is definitely hard work involved. But you choose when, what, and the level of effort. And you move from the finite to the infinite where time spent is no longer relative to money earned. Jim Rohn said, “I’m working full-time on my job and part time on my fortune. But it won’t be long before I’m working full-time on my fortune. Can you imagine what my life will look like?”
The following chart shows retail e-commerce sales worldwide from 2014 to 2021. In 2017, retail e-commerce sales worldwide amounted to 2.3 trillion US dollars and are projected to reach 4.88 trillion by 2021. Online shopping has shown to be one of the most popular online activities worldwide.
An additional chart shows the number of digital buyers worldwide from 2014 to 2021. In 2021, over 2.14 billion people worldwide are expected to buy goods and services online, up from 1.66 billion global digital buyers in 2017. About 80 percent of internet users in the U.S. are expected to make at least one purchase online during the calendar year in 2019.
The Internet is the business platform for today and tomorrow. It removes physical boundaries and connects people with goods and services on a global basis.
Creating your own Internet business and getting your share of the market takes work. There are many get rich quick stories. The bad news is they are the exception. The good news is the Internet is an equal opportunity environment. One in which people who are interested, motivated, and willing to learn can participate.
There are many types of Internet businesses. Subsequent posts will go into more detail but for now, here are the most popular types:
- e-Commerce – This is usually the first one that comes to mind. It includes a website with a store where products are marketed and sold. With modern e-Commerce platforms like Shopify, you can easily and cost-effectively set up an online store. Your products can be self-fulfilled where you personally handle the orders and shipping, or you can opt for a drop-ship model where the orders are fulfilled by the manufacturer or a distributor. A Google search of “best shopify stores” will point you to examples.
- Blogging – A blog (shortening of “weblog”) is an online journal or informational website displaying information in the reverse chronological order, with latest posts appearing first. It is a platform where a writer or even a group of writers share their views on an individual subject. Blogs attract an audience interested in the subject. They are monetized with Google Ads, affiliate ads, and maybe a subscription. SpendWithPennies.com is a perfect example.
- Affiliate Marketing – Affiliate marketing is about selling products on a commission basis. Amazon’s affiliate program is a great example. You can earn a commission by promoting Amazon products on your website. Visitors on your site click on a referral link, and if they make a purchase on Amazon, you get paid a commission. Many major retailers with an e-Commerce site have affiliate programs, such as, Target, Walmart, Sam’s Club, REI, GNC, Dillards, Nordstroms, Overstock, and Petco, to name a few. ForGrowingBaby.com is a great example of a simple affiliate site that also has a blog.
- Publishing – The traditional publishing industry was disrupted in 2007 with the launch of the Kindle, a platform that allowed people to upload their own books to an online marketplace for purchase by interested readers. These electronic books became known a e-Books. Today, e-Books can be a simple PDF document provided from one’s own website with How-To informational guides being very popular.
Half of the world’s population has access to the Internet, including over 300 million people in North America. With e-Commerce sales nearing $3 trillion and online purchasers nearing 2 billion, and both growing, the marketplace and opportunity seems limitless.
The barriers to entry for having your own online Internet business are lower today than ever. You no longer need to be a technical genius. There are many services available on the Internet to assist in planning and creating a website.
Personally, we think SurePassiveIncomeNow.com is a great resource and will become even better with time. The Internet Business Report is a guide to having your own online business. Learn more about choosing which business is right for you. Follow the example of how to start by leveraging knowledge and experience you already have. Reap the benefit of countless hours of research determining which services and tools work best together for creating your website including e-Commerce, blogging, and affiliate marketing capabilities.
Subscribe to our mailing list, download the Internet Business Report, and get started on your path to having your own online Internet business and enjoying passive income for your family!