Well, how humble of you to have stopped by! But we both know you’re not really a dummy; Our title, passive income for dummies, is more for humorous effect.
But if we’re totally new to something, we can all feel a bit like a rookie, a clueless newbie, or a dummy, if we compare ourselves to experts in the respective field.
But that fact that you want to learn how to make passive income and are reading an article on passive income for dummies shows that you are smart and capable of picking this stuff up.
You want to learn a way to make money one the internet. Difficult to an extent. The key is to learn it correctly and not fall for the myths, not to fall for the get rich quick jargon.
This is a legitimate business model I’m going to show you.
You’ll be learning how to:
- Chose a niche for your business
- Quickly set up a website
- Draw traffic to your site
- Make money online (passive income)
Here’s a visual of this process for you:
Okay, let’s dive into this!
Find Your Niche
You’ll want to find your niche first of all; your segment of the market, the thing you want to tell other people about and sell products that relate to it.
A niche can cover something very broad like baby care, relationships, wealth, or cooking, but then you have sub-niches and even micro-niche. The reason for narrowing down your niche is to avoid facing too much competition from other online businesses.
So instead of baby care for example, you could narrow that down to ‘diets and toys for 1 year olds.’
You can browse through all the categories sub-categories on Amazon for niche ideas.
The point about a niche is that it should be something you already know a good bit about, something you have a passion for. The reason for this is that it will be much easier for you to persevere with your business if you love your niche and can talk freely and enthusiastically about.
Build a Site Around This Niche (In 30 Seconds!)
Next you’ll want to build your website. You are going to be adding informational content and commercial intent content on this site. It will be based on your chosen niche.
I set up my own WordPress website within 30 seconds using Wealthy Affiliate which has a free starter membership and allows hosting for 1 website.
It is the best way I know for getting started with your first website. It guides you through the entire process.
Attract Organic Traffic
By adding content to your new website, you will gradually attract visitors from search engines, i.e. Google, Bing and Yahoo.
Keep blogging about interesting things related to your niche.
And do review posts as well. Review posts on products related to this niche.
You will monetise your site by being an affiliate for products you recommend and/or by having display ads on your site.
The most lucrative way to monetise a blog is by affiliate marketing.
To learn in detail about this whole process, I upgraded my free membership with Wealthy Affiliate and to a Premium membership. I was given all the tools and help I needed to run a successful business website.
Earn Revenue
This is the exciting part! Once the site is attracting a good stream of traffic, some of the daily, weekly and monthly visitors will buy things through links on the site and then you will make commissions.
I have followed these steps myself and found success, all thanks to the training and tools provided by the Wealthy Affiliate community.
They showed me, a newbie, the passive income for dummies blueprint.
Conclusion
Wherever you are on your journey to passive income, this business model is the best. It takes longer than some beginners imagine, but it also depends on how generous you are – much you are will to work on your business and get consistent, good quality content out there.