Updated on May 3, 2013
My Three Year Plan is Off and Running
Creating multiple passive income streams is everyone's dream. In order to make this happen, you have to understand exactly what the passive income is. I'm going to share with you today the business model that allows me to work just two hours a day. Not Today! But in my near future, but not today!
Yet to pull in a full time, CEO-sized income. I will have to do all the work, that the company employees would do during those first years or start up years. To get this Founder/ CEO/Owner to this relaxed salary of his.
Before we get into it, I just wanted to mention that this isn't the only business model out there obviously.
There are at least a million of them out there today. As well there are many things you can do Online and Offline to generate a decent income, but this is the business model that I choose to use. Because for one; I am physically disabled with learning disabilities and I have many things that keep me from working any 9-5 job still today.
But all that aside I am getting along. The other reasons are It's relatively cheap and easy to setup. It's a very low risk for me to attempt It or try it for a year or three! (What have you got to lose?)
I have only time to lose. For I have lost almost everything else already at least once or twice.
After it is setup properly It will almost run itself on autopilot. Which means you don't have to be present in order to complete a transaction every day that it is working.
You can implement this business model “on the side and in bits and pieces”. For an extra income in addition to your other job or jobs.
You can make money at any time of the day or anytime of the night. Also from anywhere in the world and this can be done 365 days a year. No holidays, no employees if you wish, as long as the internet and World Wide Web are you are. And you're in business every where you are seen. To anyone who can pay with your payment options.
Now of course that is if you are selling something or plan to sell a Hard item or services. I am not! Not just yet, but this is my long term goal. Once this business model gets going you too can try and duplicate it yourselves.
Than expand It into other markets, hobbies, and what knots. Those of/ with your own interests. And then create multiple passive income streams of your own choosing. If all goes well, you'll have the freedom and time to do whatever it is you want to do.
As this is what am I planning on. With this my Little Venture or Adventure as I like to call it. One that I have started back in July of 2010. these Ventures are seldom Overnight successes if ever they succeed.
Do You Know What Passive Income Is?
This Venture uses a lot of what I am calling passive income streams. In truth if you listen to the IRS these are not claimable as passive income. But that's a write for another day.
I call them passive because as the old saying goes you set it and then forget it. But in all actually never do this for it will not boil if you stop watching the pot! Bizarro world, I know things work differently then we have become accustomed to here in the real world. Than they do on the Inter-net.
Hmm… cheap, easy, low-risk, and high-reward? Sounds like a winning business plan to me. That is, If all goes well. But what can go wrong? Well right now the only thing I can see so far is. That I or we lose our focus and our desires to achieve this goal.
Exactly how does my passive income business model work? Well that's just It. I am still trying to figure this out. Also, I am trying to help you beginners out there who may not have some of the information needed. As to what products to sell and use yourselves.
I've a Bonus for you all as it is free at this present time. Only because I have not yet, figured out how to charge for it or if I should charge for It. I use Adsense, Tips and Hints, and other things to increase my streams.
Which I will use to quadruple my traffic back to my three domain named Websites. Before I was really focusing hard on creating an information product and/ or E-book or E-creations to sell instead of Passive and Residual incomes. Today I am only focusing on the later two passive and residual income streams.
I am like many of today's stay at home people. I too need extra income, this is why I am trying my best to get this business model built and done or I should say viable and working.
Traditionally women have more experience of multi-tasking, time scheduling, and working towards long term goals. And doing this without a precise structure or fixed hours.
These are all qualities required to run a small business. Before I was divorced I learned some of these many tasks. Not quickly enough I guess as now I am single.
But most women don't mind asking for help, whereas many men are too proud and try and do everything themselves. Men traditionally went out hunting if they killed anything they brought it home and that was that, but women had the boring, jobs of preparing vegetables, gathering berries, sewing clothes. And many other activities. Knowledge all which are required for starting your own small business(es) of today.
Times have changed some, but not much. My ex-wife and myself, we had changed routines the only difference was she took to hers better than I to mine. Because of my disabilities at the time. I was unable to do half of what she was doing. And now she was doing even more than before. A very good woman I once had and lost because of income and stress.
Another advantage that you ladies have, is that you are used to operating in negative situations, IE. where people disapprove of your methods or simply mock the way you get the job done. This is also the situations that many start-up business owners find themselves in still today.
I've promised myself that these next two years. That I have scheduled out that I would make it work or break it apart and redesign It. At least until these three years are complete. I don't have to make it big or have to justify all the time I spend on my websites, Blogs and writes.
So I decided to return to schooling myself. I mean the school of Hard Knocks naturally. As I can't afford going back to School either financially or emotionally. Seems like every time I try to something stops me. So I've been reading everything I can on everything I can find on making this venture work.
I think I am on schedule, but yet I have been set back already several times in just these first ten months. And from starting to see any success with this my venture. Which has became an adventure worth the trying. The site is: Poetry Writes & Other Stuff from Sinbad the Sailor Man stop by every once in a while and check us out. Come and see if we are making any head way.
The Income, It isn't all that much today. But hey we all start from Humble beginnings. Somebody Come and Play, Earn while you Learn, and Grow as you Go!
Thank you for you time and any comments are welcome. Donnie/ Sinbad the Sailor Man
Somebody Come and Play! Earn as You Learn, Grow as You Go!
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Donnie/ Sinbad the Sailor Man
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