Hmm, passive income, what is it…it’s a mystery. Actually it’s not really, there are plenty of well written articles out there on the topic of creating passive income. They seem to pop up quite often in fact, during the rough times the world economy is facing. You see the thought of creating a passive income or “watching the money pile up while you sit back and count it” lends hope and inspiration when we need it most. Passive income is a tricky devil and not quite so easy as some might have you think. My original plan was to mash together yet another brilliant article that would uncover the secrets of creating a passive income once and for all but after sitting here for several days without a trace of an idea that would top what others have written, I decided to take a different approach. Instead of writing about doing, I am going to be doing and then writing about result.
First let me paint you a very brief picture of why I am looking to sting together various forms of passive income. One, creating a stream of income that requires very little in the way “grunt work” after the initial development seems like a pretty good deal. Two, and more importantly I see it as a way to work into my business and business plan an added security feature. A stream of passive income will allow me to balance out some of the ups and downs that one might expect to experience when expanding a business. And lastly, if all goes well it will allow me to build a cash reserve, which will in turn eleviate some of the stress of finding the next job and allow me to remain passionate about design and development instead of turning this into another 9 to 5 grind.
Now on to the good stuff…
The first of several options I am exploring is well placed ads and affiliate programs. You will notice that nestled at the bottom end of the sidebar, there are several ad spots. The first group of ads is the old reliable of the bunch, google adwords. These have been in place for quite some time but I have never really noticed anything significant because I just don’t have the traffic required to produce. This is all changing, I am now set on developing a significant following for this blog, so I will leave them in place and track the results. If for some reason they remain stagnant I will chalk it up as experience and move on no harm done. The second set of ads are of my own choosing. I personally have used or worked with each one of these products and I know that they are well developed and realiable. I would not promote them if I felt otherwise. Why you might ask would I promote a product that might directly interfere with my own business? I know that not everyone out there is seeking my help as a WordPress designer/developer, many of you reading this blog just want a nice quick and easy solution that will jump start your blog. The themes and theme clubs listed here can give you that, they are some of the most well developed that I have worked with and I would recommend them to anyone that fits the category just described, so enjoy. The top two are products that I myself find useful for increasing productivity and a happier workflow.
So that’s that, part one, the reveal of my first step in creating a passive income. Check back mid November for the initial results and more importantly start developing your own strategy for a passive wealth.
Stay tuned for Part II
