It’s time to make your money work for you 24 hours a day, 7 days a week, 365 days of the year. That’s what the rich do and so should you.
You see the rich, they never rely on active income alone. They use passive income strategies to generate cash even when they sleep.
Because as Warren Buffet once said, “If you don’t find a way to make money while you sleep, you will work until you die.”
The rich understand this…
That’s why they focus on building assets that can produce income for them over and over again, almost on complete autopilot.
In other words they focus on passive income instead of active income.
If you don’t know what passive income is, it is the type of income that comes from assets or businesses that basically run themselves.
After the initial set up phase, which can take a great deal of time and effort, the asset will continue producing income for months, in some cases even years, to come.
Some great examples of passive income assets include rental income, dividends, interest, royalties, affiliate marketing (my favorite), advertising revenue, and selling digital products(my second favorite).
With these assets your money will work hard for you, instead of just you working hard for money.
Now because I am a huge fan of online business, in particular affiliate marketing, I want to quickly talk to you about this business model, and how you can turn it into a legit passive income stream.
First, let’s quickly explain what affiliate marketing is.
Affiliate marketing is when you, the affiliate, promote someone else’s product for a commission. You can promote these products via Instagram, TikTok, YouTube, or my favorite, a blog.
Anytime someone clicks on your link and makes a purchase, you get paid.
The great thing about affiliate marketing is you don’t have to worry about product creation, inventory, or customer service.
All of that is handled by the merchant.
Your only job is to build an audience, cultivate a relationship with that audience, and promote products that will help them reach their goals.
It takes a lot of upfront work. But once the ball starts rolling, its very difficult to make it stop.
As an affiliate marketer, your most valuable asset will be your email list. You should therefore start building it from day one.
Your list will allow you to engage with your audience daily on complete autopilot.
And the best part is, every email you send out is an opportunity to build relationships and increase sales by introducing your audience to other products that will help them along their journey.
Use SEO, content marketing, social media, and paid ads to drive targeted traffic. Test different marketing tactics and double down on what converts.
As you can see, it takes a great deal of work to build a passive income asset. But eventually, that asset can give you the gift of time and financial freedom.
And once you get one affiliate site up and running, build another one. Again, the objective is to have multiple streams of income.
That’s the key to building true wealth that can last many lifetimes.
So quit thinking small and start building scalable assets that can transform your finances.
If you want to learn more about affiliate marketing, check out my free 7 day affiliate marketing crash course.
In just 7 days you will learn the fastest way to get started with affiliate marketing, how to position yourself for success, how to earn your first commission, and so much more.
Join the crash course now. https://10kaffiliate.com/ecourse