This is Dave Espino, the InfoBoss, and welcome back. I'd like to answer the question "is passive income real because most books seem to treat it like it's some kind of a fairy tale."
Well, the bottom line is passive income is real and there's varying degrees of passive income. There's varying degrees of things that you have to do in order to generate a passive income, but basically most passive income streams result from;
Number one, a product or service.
Number two, an automated way to sell that product or service online through a merchant service or through an online course.
Number three, you drive traffic to that product or service to be able to sell a lot of it.
How to Create Passive Income
When you have an automated delivery system and an automated traffic system, then you have passive income. There are variety of ways to do this. The number one way that I've done it in the past is I set up a bunch of sites that sold an ebook, so each website sold its own ebook. Think of it as a mini site and each website had content on it that drove traffic that brought people to the ebook, and then they bought the ebook and when they bought the ebook, it was digitally delivered to them and the money was digitally delivered to me. That's a form of passive income. My very first passive income was similar to that where I sold my very first ebook. I wrote a lot of articles on the Internet and at the end of the article I had a little resource box or a signature box it's called, where it tells about the author and it gives them a link to your website. That drove a lot of traffic to my ebook to where I got it to make $3,000 a month in passive income.
There are other ways to make passive income. For example, affiliate programs. Affiliate programs can be a good way to build a passive income, but you've got to be in the right affiliate program. There are good affiliate programs and there are not so good affiliate programs, and good affiliate programs an amazing job of closing the sale. The poor ones don't do a very good job of closing the sale. The really good ones also offer lifetime cookies, which means that when somebody visits through your link they're always tagged to you and you always get credit for any future sales.
Another way to build a passive income is to build a membership site. Now a membership site is where you have a lot of ongoing content or a lot of new content all the time. You're always adding it to the membership site and people are paying you on a recurring basis. Maybe they're paying you $25 a month, $50 a month, or $100 a month to receive this timely time sensitive content. That's not quite as passive as some of the other ways because it does require that you keep adding content and adding content, but it can be passive because you've got people paying you on a monthly recurring basis.
My Favorite Method
By far my favorite way by far to build a passive income is to create an online course or several online courses. What you do with this is you create a digital product that shows people how to do something, how to do something you're good at or how to do something you're passionate about. You start selling this course through a digitally delivered platform, drive traffic to it, and now people are buying your course and paying you whether you work or not. That's an amazing passive income. If you'd like to learn more about the online course business or really any of these other passive incomes, check out my free book titled The Worlds Most Perfect Business. You can find it at DaveEspino.com/freebook. I hope that my information was helpful, and I'll see you next time.