So, you want to earn a million dollars. Doesn’t everyone? But who are actually taking the steps towards reaching that goal? Did you know you could do this by earning one quarter at a time?
The first thing you need in order to be on your way to a million dollars is knowledge. Now, I’m not talking about an education. Education can and does often help, but education isn’t everything. You can have a masters degree in money management or marketing or ANYTHING, but you could still be penniless. No, the knowledge I’m talking about is simple, and it’s all over the web. It’s the knowledge of residual, or passive, income.
What is passive income? Passive income, in layman’s terms, is money you receive on an ongoing basis for work you only do once. This article is an example of passive income. It takes me between 20 minutes to an hour and a half to complete an article for the internet. Once this article is posted, I will continue earning money for it as long a people visit the site and read the article.
So what’s the deal about the quarters? In the movie “The Secret,” Jack Canfield told a story about how he set a goal to make $100,000 in one calendar year…something he had never done. How did he do this? He’d just written a book and his royalty earnings per copy was twenty-five cents. He figured if he sold 400,000 copies of the book, he’d have his $100,000. The book he’d written is another example of passive income.
The internet has made things exponentially easier to earn passive income. Blogging is an excellent way to earn a passive income online. You can write an article once – one people want to read. Yes, quality is important. The article has to provide information people are looking for.
This last step is the key to earning $1,000,000, and it’s right back where we started. Knowledge. So, now you know about passive income, but what are the best ways of earning a passive income? This is where your work comes in. You need to be constantly researching other avenues of earning a passive income.
Say you’ve got a strong blog and you’re making a fair amount of money. You can pay your bills, and you are living comfortably. Don’t stop there. Spend 30 minutes a day researching products your readers would be interested in. Contact the sellers of those products, tell them about your site and readership, and offer to refer the product to your readers. DON’T RECOMMEND PRODUCTS YOU WOULDN’T USE YOURSELF! You’re not here to scam people out of their money! You want to provide people with things they want and need. You want them satisfied and you want them to come back for more.
There is a lot of “little” money to be earned on the internet. But, the more you work at it, the more you can see those quarters add up. Anyone who’s taken a jar of change to a coin machine knows those quarters are the gold. Gold is what we want here.