Why does @jerrybanfield spring to mind? I'm also sure this sort of thing doesn't go down very well on steem, JP seemed to me to be the 'loneliest person at SF3'.
Nice to state it like it is... that's exactly what they do.
As someone who actually does make money online, in a passive-ish way, it does take work once you've got the resources written, but no where near as much as working full time for the man. You're right that you have to put out a lot of content for free for marketing, although I'm finding three posts a week shared to FB and twitter is now sufficient to maintain my traffic to push the resource sales.
The thing is in finding a niche. For me it's A-level sociology revision (hence the name on here, but I don't publicise it on steem) - and there's sufficient demand to earn me around £10K a year just from resource sales, now I've just added revision webinars - I took £2K last month for those on top of resource sales - and I'm only offering 1 hour a week for the next 12 weeks!
Assuming everything stays stable (which it almost certainly won't) I could maintain a £25-30K a year income from 2-3 days 'work' a week - and my work days tend to be fairly slack.
I've got a few other plans to expand, and expand I must - the trick is going to be staying ahead of the game. Thankfully the exam boards and publishing companies seem to be stuck in the 20th century.
I'm thinking there's all sorts of potential for a subscription service for both teachers and pupils, teacher training events, gamified learning etc.
NB another problem with income from ads is how fickle the income is - this time last year I was earning $800 from ads, now my traffic has increased and i'm earning $150. Thankfully other things have compensated.
One final point - you need serious traffic to earn a living wage, which I do - but only off the back of 600K views a month, so google trends can be anxiety inducing on a slow morning.
I'm gradually shifting my investment to steem anyway, it's a much more fun way to make money!
WOW, thanks for this input. Your name suddenly makes sense on here now.
You've got the perfect niche there - Education. There's a clear and well defined need and you can provide a solution to it. The value proposition is so clear.. unlike some other genres out there.
Yes, I think people don't realise the amount of traffic you need to make the income viable. Yes you can earn income almost immediately if you know what you're doing.. but you need to grind to make it viable.
Momentum also counts for something. I liken it to driving.. the car works harder to start, and move up the gears.. but once you're on the high road, you can go up to 5-6th gear and cruise... unless there's an incident :)
I think being a qualified teacher helps with the kudos too, that also explains why JP makes me cringe.
Nice analogy with the car.
I quit full time teaching in August on the back of my resource sales/ ad revenue, took about 4 years to get there. Then the ad revenue collapse, thankfully my revision webinar back up plan (and a second job doing teacher training I hadn't anticipated) have more than made up the short fall).
What I really want to do however is just find a field somewhere, put up a yurt and do Permaculture, however, there's an example of where EVERYBODY who does that is trying to make money out of teaching everyone else how to do it, so there's no real money it. And I'm sure you know just how difficult it is to do that sort of thing in England.
So you're saying you watched an 11 minute video in 30 seconds?
I nicked this from your other comments, but I did watch all your video on this occasion.
Curation sticks out a mile, it is truly passive. Look at @hr1 one year ago. A 0.02% vote of his was worth 11c. Did you ever look at what he was churning in? It was impressive.
@chops.support does OK, at 4,162.36 SP (some delegated) your talking a $1 a day that is truly passive.
How I understand passive income is letting your money work for you. Examples: investing in government securities (treasury bills/bonds), mutual funds, etc. So you get a small percentage for investing your money. This is not a foreign idea as it applies to holding steempower.
Like you said, to make sufficient passive income you need huge capital. So it would not be advisable to seek making passive income early when you dont have huge income to forgo for a long period of time. Investment has to do with trade-offs.
I have also explored many ways of earning on the internet, never really made any until steem and I won't consider those means are passive streams of income. Like you mentioned a lot of effort is put into making anything tangible from these schemes. So they are not passive in anyway
I am not a fan of any get-rich scheme, so I am usually skeptical of anyone trying to sell me an idea that seems too good to be true.
For people looking to make passive steem for me is a safe bet. I know its price is volatile but you can cover your losses over time.
Great insight on what could have been a source of income for many. As such rental income in India taxable ...so it is not a passive income unless those incomes were not disclosed.....but the income thorough internet gurus does sounds avoid mantra to get another hand
All income is taxable (except lottery wins I guess) here in the UK. The tax is always a percentage of profit, so it never puts you in negative ( in theory). I would advice disclosing your income. You don't want to be breaking the law ;)
Hahaha surely...I do not want to stack up black money 😉 here lottery income is also taxable. ...it's upon the tax thiefer to disclose or not. ...many does avoid them illegally...
Actually I have not watched this, because I'm behind the wheels heading to a programme courtesy St James Catholic church.⛪. As soon as we are done. I will definitely go back to the 11minutes video. Please, Sir. We need to talk on twitter. Thank you sir. Same username too.
This is another reason why Steem has great opportunities to leverage. If done correctly, it can become a great source of not only income but information and sharing with the community!
Well, theycallmedan is known to practise power reading so maybe this person was just powerwatching? :D
Interesting video, good points. I have also tried quite a lot of these online things and when it comes to the passive income, stock photography has been working best for me so far. Have you tried? I mean it does take a lot of time and energy at the beginning (long months or even years) but once you build a solid portfolio, your photos will sell (forever?) without you promoting them or doing any other work. But like you said, it depends on how much of the income you need to sustain yourself.
Hahaha. That's a skill I need to learn :) @tasha112 please teach us.
You know, I've NEVER sold a single photo :) . I've seen people sell photos successfully though. I think I've just never put in the effort. I once tried an app called 'Foap' a few years ago without any success.
So you have tried. And never sold a single photo. Interesting. What site was that, ShutterStock? I submit to this site and after almost 2 years, I am finally getting some passive(yet small) income from it. But I guess it is mostly about effort and time actually, considering that 99% of my photos (I have over a thousand of them in my port) were taken with mobile phones (icnluding some ridiculous prehistoric pieces :D) But back then when I opened my SS account, I didn´t have much other work to do so I was just shooting, editing, uploading and keywording long hours every single day. You are much better and experienced photographer than me, maybe you should just give it another try ;)
Why does @jerrybanfield spring to mind? I'm also sure this sort of thing doesn't go down very well on steem, JP seemed to me to be the 'loneliest person at SF3'.
Nice to state it like it is... that's exactly what they do.
As someone who actually does make money online, in a passive-ish way, it does take work once you've got the resources written, but no where near as much as working full time for the man. You're right that you have to put out a lot of content for free for marketing, although I'm finding three posts a week shared to FB and twitter is now sufficient to maintain my traffic to push the resource sales.
The thing is in finding a niche. For me it's A-level sociology revision (hence the name on here, but I don't publicise it on steem) - and there's sufficient demand to earn me around £10K a year just from resource sales, now I've just added revision webinars - I took £2K last month for those on top of resource sales - and I'm only offering 1 hour a week for the next 12 weeks!
Assuming everything stays stable (which it almost certainly won't) I could maintain a £25-30K a year income from 2-3 days 'work' a week - and my work days tend to be fairly slack.
I've got a few other plans to expand, and expand I must - the trick is going to be staying ahead of the game. Thankfully the exam boards and publishing companies seem to be stuck in the 20th century.
I'm thinking there's all sorts of potential for a subscription service for both teachers and pupils, teacher training events, gamified learning etc.
NB another problem with income from ads is how fickle the income is - this time last year I was earning $800 from ads, now my traffic has increased and i'm earning $150. Thankfully other things have compensated.
One final point - you need serious traffic to earn a living wage, which I do - but only off the back of 600K views a month, so google trends can be anxiety inducing on a slow morning.
I'm gradually shifting my investment to steem anyway, it's a much more fun way to make money!
WOW, thanks for this input. Your name suddenly makes sense on here now.
You've got the perfect niche there - Education. There's a clear and well defined need and you can provide a solution to it. The value proposition is so clear.. unlike some other genres out there.
Yes, I think people don't realise the amount of traffic you need to make the income viable. Yes you can earn income almost immediately if you know what you're doing.. but you need to grind to make it viable.
Momentum also counts for something. I liken it to driving.. the car works harder to start, and move up the gears.. but once you're on the high road, you can go up to 5-6th gear and cruise... unless there's an incident :)
Good luck with your venture.
I think being a qualified teacher helps with the kudos too, that also explains why JP makes me cringe.
Nice analogy with the car.
I quit full time teaching in August on the back of my resource sales/ ad revenue, took about 4 years to get there. Then the ad revenue collapse, thankfully my revision webinar back up plan (and a second job doing teacher training I hadn't anticipated) have more than made up the short fall).
What I really want to do however is just find a field somewhere, put up a yurt and do Permaculture, however, there's an example of where EVERYBODY who does that is trying to make money out of teaching everyone else how to do it, so there's no real money it. And I'm sure you know just how difficult it is to do that sort of thing in England.
I nicked this from your other comments, but I did watch all your video on this occasion.
Curation sticks out a mile, it is truly passive. Look at @hr1 one year ago. A 0.02% vote of his was worth 11c. Did you ever look at what he was churning in? It was impressive.
@chops.support does OK, at 4,162.36 SP (some delegated) your talking a $1 a day that is truly passive.
Wow, that's pretty awesome. .. and if the price were to suddenly go up then fold, .. wow.
Yes, it works and fits your subject matter quite well. Have a look at the account with Steemworld and you will see.
How I understand passive income is letting your money work for you. Examples: investing in government securities (treasury bills/bonds), mutual funds, etc. So you get a small percentage for investing your money. This is not a foreign idea as it applies to holding steempower.
Like you said, to make sufficient passive income you need huge capital. So it would not be advisable to seek making passive income early when you dont have huge income to forgo for a long period of time. Investment has to do with trade-offs.
I have also explored many ways of earning on the internet, never really made any until steem and I won't consider those means are passive streams of income. Like you mentioned a lot of effort is put into making anything tangible from these schemes. So they are not passive in anyway
I am not a fan of any get-rich scheme, so I am usually skeptical of anyone trying to sell me an idea that seems too good to be true.
For people looking to make passive steem for me is a safe bet. I know its price is volatile but you can cover your losses over time.
Yes, what you've described in the first paragraph is truly passive - and as expected, the more capital you have, the more income you make.
Get rich schemes are also Get broke schemes on the flip side :)
I am just enjoying the convo. Great minds working here.
Thanks bro, thanks for stopping by.
Great insight on what could have been a source of income for many. As such rental income in India taxable ...so it is not a passive income unless those incomes were not disclosed.....but the income thorough internet gurus does sounds avoid mantra to get another hand
Posted using Partiko Android
All income is taxable (except lottery wins I guess) here in the UK. The tax is always a percentage of profit, so it never puts you in negative ( in theory). I would advice disclosing your income. You don't want to be breaking the law ;)
Hahaha surely...I do not want to stack up black money 😉 here lottery income is also taxable. ...it's upon the tax thiefer to disclose or not. ...many does avoid them illegally...
Posted using Partiko Android
Actually I have not watched this, because I'm behind the wheels heading to a programme courtesy St James Catholic church.⛪. As soon as we are done. I will definitely go back to the 11minutes video. Please, Sir. We need to talk on twitter. Thank you sir. Same username too.
Posted using Partiko Android
It seems that I also enjoy this passive income so far, I'm very proud to be able to make money on the internet
This is another reason why Steem has great opportunities to leverage. If done correctly, it can become a great source of not only income but information and sharing with the community!
Posted using Partiko iOS
Hi ) Useful video )
Follow me, I m new here)
Can you at least introduce yourself... otherwise don’t bother being on STEEM to game things up for quick money. It won’t work.
Posted using Partiko iOS
So you're saying you watched an 11 minute video in 30 seconds?
Well, theycallmedan is known to practise power reading so maybe this person was just powerwatching? :D
Interesting video, good points. I have also tried quite a lot of these online things and when it comes to the passive income, stock photography has been working best for me so far. Have you tried? I mean it does take a lot of time and energy at the beginning (long months or even years) but once you build a solid portfolio, your photos will sell (forever?) without you promoting them or doing any other work. But like you said, it depends on how much of the income you need to sustain yourself.
Hahaha. That's a skill I need to learn :) @tasha112 please teach us.
You know, I've NEVER sold a single photo :) . I've seen people sell photos successfully though. I think I've just never put in the effort. I once tried an app called 'Foap' a few years ago without any success.
So you have tried. And never sold a single photo. Interesting. What site was that, ShutterStock? I submit to this site and after almost 2 years, I am finally getting some passive(yet small) income from it. But I guess it is mostly about effort and time actually, considering that 99% of my photos (I have over a thousand of them in my port) were taken with mobile phones (icnluding some ridiculous prehistoric pieces :D) But back then when I opened my SS account, I didn´t have much other work to do so I was just shooting, editing, uploading and keywording long hours every single day. You are much better and experienced photographer than me, maybe you should just give it another try ;)
What a nice video you have made. Gurus build passive income for themselves!