Types of Passive Income: Styling to Taste


Style your preferred types of passive income to your fit. Make them online, offline or both ways. It’s all in your control today.

Are you in a kind of fix? Thinking "what's the perfect model of passive income for me?"… You're welcome to the answer. Here you'll find all you need to know to decide whether making money online or offline or combining both methods will be your fit.

Yup! This page should leave you with answers that really work.

Here we won’t be looking at types of passive income in terms of Real Estates, Businesses, Portfolio Assets and Intellectual Properties… all these are SOURCES of passive income, not types of passive income. These are commonly mismatched.

“Uh… but Nic that’s what every Joe Blow says…"

Yes, but they’re mixing things up.

“So if you say they got their right foot in their left shoe pairs…

…What then are Types of Passive Income?”


It’s nothing complicated at all.

Let’s take it like these, when we talk “types”, what do we mean? Types talk of styles. How do you make passive income – what style of passive income do you earn?

Online based… offline based – or one leg there, another here?

The style of passive income you earn will largely depend on your preferences. If the internet still looks too geeky for you or you simply prefer snail mails to emails, then you may want to consider building passive income styled to your offline preferences.

But if Cyberspace and money, to you, is a match made in heaven, then you may want to go it the online way…

Love it either way? No qualms. Make it both ways too – all yours!

Differences


Here you’ll see the divide between online passive income and offline sources…

ONLINE PASSIVE INCOME


1. Needs good internet service – broadband network to be precise (dial up may be really frustrating)

2. Needs good knowledge of internet marketing

3. You need good knowledge of internet technology… pinging, sitemap, etc (although you may outsource this one)

4. Knowledge of HTML

5. Email management

6. Website design

7. Website hosting and domain name

8. Website ownership confirmation (with search engines)

9. RSS

10. Keyword search and analysis

11. Customer profiling

12. Opt-in box

13. Social media promotions

14. Back-linking, etc

OFFLINE PASSIVE INCOME


1. Business Plan

2. Market analysis

3. Product analysis

4. Capital Sourcing/Funding

5. Human Resource Management

6. Brand Management

7. Customer Service

8. Accounts and Budgeting

9. Quality Control

10. Product distribution

11. Marketing and Promotions

12. Recruiting and staffing

13. Legalities and licensing

14. Bank Processes etc

Neither is bad… Simply choose either types of passive income or both.

But… IMO, start with one. Go with one passive income type, get the cash flowing in, and then expand your territories – don’t try juggling more than you can handle – this is even DOUBLE important if you’re on a job, in school, or just wanna coast for a bit…

…however, you should make this stuff YOUR thing. Do earn passive income that fits your life style and preferences.

Here’s how…

Knowing and Going with Your Preference


I’m not going to be theoretical with you here. We’ll get to this preference choosing part using two methods… whichever way you eventually choose to use would be just fine – both methods work fine alike.

FIRST METHOD


Simply ask yourself , "is this me?" "Is internet based passive income the best way for ………………………. (Enter your name) to earn money?" If merely asking that question felt cool, you should be cool. It must induce excitement – don’t force it though.

Ask the same question for offline based passive income. Obviously if both online and offline feels good to you, you should generally know that you’re in for both. If asking for both don't work, you might want to use the second method.

Even if you feel all giddy about passive income online, offline or the mix of both, I still suggest you validate your feelings by using the second method.

However if one just don't feel right... let it slide. It must induce excitement, naturally for you, or you drop it.

Yes I know this feels rather simple, but I use this method often and it’s proven effective over and again. If I don’t see myself as doing this internet business I’d drop the ball. If it doesn’t feel good now, it’ll probably not feel good in the future – so why fail yourself on the most important part… your decision to do or not to do it.

SECOND METHOD


Here, you’ll figure out the type of passive income that best fits your style using a left-brain approach. For example, you may want to know “is internet based passive income the best for me?” …answer that question using free software… Click here to make your analysis.

This method takes into account all the various conditions surrounding your choice of the type of passive income you’d want to earn.

You may also do this analysis for offline based passive income.

Just to jog your brains, these are possible factors that you may want to include in the analysis…

  • - See my girlfriend every weekend

  • - Have more freedom to do other things I love (be specific)

  • - Go back to school (if you left school)

  • - Run my MBA

  • - Relocate to Singapore… etc

Be specific. Keep it short, simple, precise.

So… get to it right away.

Now, Having Understood all three Types of Passive Income…


Step out to action – first, find your passion, and then go take action… achieve.

If all you do is read this page, then it’s all nothing. ACTION rules in REALITY. See you there…

With hearty loves always!

loves from Nic

From Types of Passive Income: Styling to Your Taste

to Passive Income Ideas for Virgins and Beginners




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