Generating Passive Income in Australia

Make Money Taking Paid Surveys

info@passive-income.com.au — Fri, 19 Jun 2009 16:11:00 GMT

Get paid for your opinions

Getting paid to take surveys isn't new, but the availability of the internet means that you can now get paid to take surveys on just about anything, by anyone around the world. It's not really a passive income source, but it could boost your income whilst your waiting for your passive revenues to grow.

As a child I was involved in a couple of focus groups for Smash instant mash potatoes, so I knew this kind of thing went on, it's just never occured to me to be a particularly interesting way to make money. And surely you'd never get paid enough to really make it a viable income stream. And then I came across www.paidsurvey.com.au who promise earnings of up to $150 per hour, with cash paid out daily. Rather than provide the surveys directly, these guys provide a directory of websites and other businesses that will pay you to take surveys.

If you'd rather go straight to the source, Valued Opinions actually pays for you to take surveys from leading Australian brands. You will typically be paid between $2 and $5 per survey, and up to $50 for specialist surveys. More information here.

How To Make Money From Stupid People

info@passive-income.com.au — Fri, 19 Jun 2009 14:25:00 GMT

Is it just me

...or are the vast majority of people online stupid? Is it human nature that people would rather pay for a chance that they might benefit than take a free ticket to the same chance? There appears to be some sub-conscious engine at work that associates value with cost. If something costs more, it is inherently more valuable; conversely, anything that is free is worthless. Am I right?

I get asked constantly about this or that "get rich quick" internet money making scheme. Are they any good? Do I know how they work? Would I recommend them? The simply fact is that I don't subscribe to these systems myself because I believe most of the content is available via a quick (free) Google search. However, many would rather pay someone for that information because it somehow, magically, becomes more valuable if they do. Weird.

I recently launched a new service that provides a free, exclusive website to anyone that can type. It's based on a proven template and includes professional-level SEO, integrated Google AdSense and my personal affiliate marketing management. I know the template works because if it didn't you wouldn't be reading this now.

Whilst the service is free, I do make some money by taking a [small] slice of any revenue your website generates, but that means it's in my interest to ensure that you are making money, because if you don't, I don't either. But it appears the offer may be too good. It's not...it's true, it's free, and it works! And yet I still get questions from people asking about this or that online scheme. I just don't get it.

Have you ever been to a seminar where the speaker presents an amazing offer? "Send me an email in the next 72 hours and I'll make you breakfast in bed for the next 6 months" - that kind of thing. They do this because they know that 90% of those that have access to the offer will never use it, no matter how good it is, because it requires action, and that's one thing that us humans seem not to be very good at - taking action. Actually DOING SOMETHING.

BING...lightbulb goes on...and I've realised, this is where the good online schemes make their money. They rely on the fact that the only thing that most of their subscribers will ever do is subscribe, and pay their first subscription. Then they'll decide it's all too hard, lose interest and go and pay someone else some more money. No wonder these people need to generate passive income, they're so busy giving their money away to everyone else.

So, the big question is, should I scrap the "free website" message and charge a flat monthly fee for access to what is a simple, quick and effective way to start on the road to passive income? That way, I can make money from the stupid people, too!

Twitter, iPhone and a Pile Of Cash

info@passive-income.com.au — Thu, 11 Jun 2009 13:01:00 GMT

Using buzz words in your marketing

A couple of weeks ago I published an article saying how one might make money using Twitter. It wasn't until too late that I realised that this article had caused a spike in traffic and earnt a reasonable amout of revenue. I replaced the article with another that hasn't done nearly so well, and in doing so I've learnt a lesson.

This website does very well in Google, achieving #1 spot for the term 'passive income' in Australia. Anything that's put on the home page is picked up and shown by Google when people search for that term. When the Twitter article was new and on the homepage, it drew a lot of attention. Subsequent pages haven't because, I suspect, they've been more generic in nature. In order to make money from affiliate marketing or advertising you need traffic and using buzz words can give you that boost.

I've learnt that hitting the right buzz word, in this case Twitter, at the right time (Twitter-mania has reached Australia) can really boost your traffic, potentially resulting in long-term increases in readership (which is the ultimate goal), but also increasing short-term revenues.

I'm going to write another article on the iPhone, which I'll be receiving in the next day or two, I hope. I'll be considering how practical it is to replace a laptop or netbook with the iPhone for working on the go. More on that soon.

The Passive Income Triangle

info@passive-income.com.au — Thu, 4 Jun 2009 15:48:00 GMT

The three elements of a passive income

You may have heard of the passive income triangle, or the 3 factors in achieving a passive income. I thought I'd outline what they are below:

1. The mental side

The mental side of the passive income triangle relates to the knowledge you need to achieve passive income. Do you have a system to follow? Do you have the knowledge and tools to follow the system? Are you clear on what the system is?

2. The physical side

The physical side is the actual 'doing' part. Although the goal is to achieve an residual income with minimal effort, you have to do something to create it in the first place. Whatever the system, some initial effort is required.

3. The emotional side

The final factor is the emotional barriers that may prevent you from maximising your results. For many, a passive income is simply not possible because they just don't believe it's possible. They create mental barriers that prevent them from completing the first two sides of the triangle. They give up too soon, or they stray from their chosen system because of a lack of confidence.

Even if you have addressed the mental and physical sides, you may have some sub-conscious blocks to fulfilling your potential. I think the most common barrier is probably some form of guilt. Would you feel guilty about receiving money for minimal effort? Perhaps you harbour a fear of failure? Maybe you think people will laugh at you when you tell them what you're doing?

A quick search on Google will certainly help. You'll find hundreds of success stories from people who "just did it". They removed their barriers, followed (or created) a system, and reaped the rewards. I am a firm believer in making your own luck. Whilst I believe there is an element of chance in every aspect of life, I don't think it hurts to try and load the dice in your favour.

Even Simpler System for Passive Income

info@passive-income.com.au — Thu, 4 Jun 2009 02:21:00 GMT

Can it get any easier?

Last week I posted an article outlining a simple system for creating passive income. It was the skeleton of a system that I was going to develop over the coming weeks.

Whilst writing the previous post, however, I realised that, for a lot of people, creating 15 accounts all over the place just wasn't an option. The cost of registering a new domain was a sticking point, and finding one that was relevant was, in many cases, an onerous task.

So, I took my own advice and created something that takes all this effort away. All you need do to create a passive income stream, using my new system, is write short articles (around 200 words) on your chosen subject. The system pretty much does the rest. Best of all, it's completely free to use.

If you'd like to know more, please visit www.oneminutewebsite.com.au. This service is available to Australian residents only.

Comments now active

info@passive-income.com.au — Tue, 26 May 2009 22:39:00 GMT

Have your say

As part of a program of ongoing development, you can now post comments against any article on passive-income.com.au. All comments are subject to editorial review. I'll also be adding a comment RSS feed in the near future.

Do you think comments should be Tweeted? I could add form fields for you to add your own Twitter account details (which wouldn't be stored, obviously) so the system automatically Tweets your comments for you, too.

Simple System for Passive Income

info@passive-income.com.au — Thu, 21 May 2009 15:46:00 GMT

Six steps to creating a residual income online

I've started a new guide for a simple system for generating passive income. The system is based on creating one or more websites with the ultimate goal of selling information products. I thought I'd share the skeleton of the guide before I started writing it.

1. Setting your expectations

How much time are you able to give?
Set realistic goals (break even, nice meal, annual family holiday, new car, retire...etc)

2. Decide what your website will be about

Do you have a particular area of interest or expertise?
Are there lots of information products available on this subject?
Sign up with a content management system (preferably one that allows Google AdSense ads)
Choose and register an appropriate domain name
Set up email for the domain
(Optional) Create a holding page

3. Sign up with:

Google Analytics (so you can see what's happening)
Google Adsense
Clickbank
Twitter
Feedburner

4. Create your first income generating post:

Find an information product or range of products that you're interested in promoting
Post an article using your content management system
Lace the article with tagged references to your chosen products

5. Establish your website marketing plan

Create a link-building schedule
Register with free directories (dmoz.org, etc)
Include contact options and encourage feedback
Build credibility

6. Either create a new website on a different topic, or create a new article on your existing website, promoting other products

At this point, you can either create another post on your chosen subject, or you can create a new website with a different subject focus and start again

I'd estimate that, using this system, you could be earning passive income within two hours. Of course, the income normally starts as a dribble, rather than a torrent - you're not going to become rich overnight, but how much do you want to earn for 2 hours work?! The key is, once that 2 hours work is done it can generate income for the rest of your life (and beyond!). If it only generates $1 a day and you live for another 50 years, you'll make over $18,000...not a bad hourly rate, I'm sure you'll agree.

With the ground-work done, your next article will take even less time to produce and as the volume of your content grows, so does your credibility. Ultimately, you want to build this to the point that you're considered an authority on your chosen subject.

Making Money With Twitter

info@passive-income.com.au — Wed, 20 May 2009 08:03:00 GMT

Turning the latest internet buzz word into cash

Social networking phenomena, Twitter.com, has recently drawn a lot of press thanks to publicity by Ashton Kutcher, Oprah Winfrey and others. But, unless, you're going to get one of these guys to Tweet about your product or website, it's not clear how Twitter can be used to generate money directly online. What is true...wherever there's a lot of media attention, there's normally a way to make money.

I'm looking into various schemes for how to convert Twitter traffic or increasing numbers of Twitter followers into cash. One of the systems I'm considering is the Twitter Traffic Machine. According to their website, this is a true passive income system. Set it up in a matter of hours and let it run. Though they don't claim that the system will inherently make you money, they do claim to be able to increase your Twitter follower numbers by tens of thousands in a very short amount of time. Turn that traffic towards a commercial venture and the money should start flowing.

I'm also considering Shelley Ryan's Turbo Cash Generator system, which she claims is making her over US$3,000 cash every day - that's nearly AU$4,000 at today's exchange rate!

Anyway, before I sign up with any of these, I have to create a Twitter account, which I've done under the name passiveincomeoz. As well as standard RSS and email feed, you can now follow my updates there.

Making Money With Clickbank.com

info@passive-income.com.au — Wed, 20 May 2009 07:30:00 GMT

Making Money With Clickbank.com

I regularly get asked for my opinion on internet-based "get rich quick" schemes. These can be identified by the following characteristics:

They're great looking, professionally produced websites
They include the phrase "this is not a get rich quick scheme"
They say that following their system is not easy, and takes time and effort
They cost money to join, often on a subscription basis

Though I've never seen the need to join any of these schemes, the information that is provided normally leads me to conclude that whatever they're system, it's based around Clickbank.com.

Clickbank.com is an affiliate management system with a database of tens of thousands of digital products. You can sign up either to sell your own products via their huge, global network of affiliates, or you can promote others' products via your own website*.

The system works by using tagged links (aka 'hoplinks') to identify the source of referred sales. Each sale can pay up to 75% of the purchase price.

* Having a website isn't compulsory, you could use links within emails or even printed links

RSS Feed and Email Updates Now Available

info@passive-income.com.au — Wed, 20 May 2009 06:46:00 GMT

Stay In Touch

We've created an RSS feed to allow you to stay in touch with any new information we post on the website. You can view this via traditional RSS or, even better, those kind people at Google/Feedburner will send any new headlines to you when you subscribe for email updates.

Free Report - Passive Income For Life

info@passive-income.com.au — Wed, 6 Aug 2008 07:30:00 GMT

Passive Income For Life - free report

Thank you for your interest in our new report, Passive Income For Life. We're putting the finishing touches to the report right now. To ensure that you are amongst the first to receive it when it's complete, please register your interest below (your details will not be published).

Getting started on the road to passive income

info@passive-income.com.au — Sun, 3 Aug 2008 04:31:00 GMT

Answering some questions on passive income

Sarah is new to the idea of creating passive income online. She's already working in a number of offline projects and has now turned her attentions to using the internet. She contacted me with a few questions that I thought I should share.

Do I need to have really good computer skills to make money online?
There are two paths to choose between when first establishing a passive income stream online. The first involves creating products and perhaps the best example of these is ebooks (books distributed as PDFs or other digital formats). If you can type and have access to a word processing application, you can create an eBook.
The second is to create a list of individuals or businesses with a common interest that may be interested in buying related products. For example, a list of people interested in generating passive income. (Beware of privacy and anti-spam laws when canvassing interest from individuals). Such a list could be created with as little as an internet connection and email program, but you can also adopt more sophisticated methods such as a website.
Is the Internet a good tool to make extra money or do you think it would be too hard because I’m not an Internet guru?
There is no need to be an internet guru. Indeed, many of the people that are well-known in the industry (Mike Filsaime, Brett McFall, Peter Sun, Pete Miller, etc) are not at all techy. If you have an internet connection and email and you can type, you've got the makings of a passive income empire literally at your fingertips.
Don't get me wrong - technology can improve your efficiency massively - but don't let a lack of knowledge deter you from starting. There are plenty of people with technical skills and knowledge that will be more than willing to help an enthusiastic 'newbie' on their journey...like me! :)
How much time and effort do I need to put in?
This is one of the first questions you need to answer for yourself. The question is not how much you need to put in, but how much spare time you have, and how much of that you want to put in.
Over time, you're likely to develop a number of income streams. What's important is not how much money they each bring in, but what the return on investment (ROI) of each is.
Different products require different systems that require different investments in time. Decide first how much time you want to invest (and you're not going to get any money to start with, remember) and then look for compatible systems.
How much money can I make?
There is simply no limit. However, my firm belief is that the success of any business is based on more than good ideas and hard work. I'd give a heap of sweat and hard work for a sniff of good luck, because that's often what it boils down to.
What do you need to do to make money online?
Here's a good 3-point starter plan:
1. Decide how much time you have/want to invest
2. Set goals
3. Look for ideas based on the above (and take everything you read with a pinch of salt...unless it's from me, of course!)
Do I need to spend any money to start?
Did your email to me cost any money? Have I charged you for this advice? Seems to me that you've already started and it hasn't cost you anything, yet.
Don't assume that you have to spend money to make money. It's not always the case, but does depend on your chosen industry (car plants and airplanes don't aren't cheap).
Assuming you have a computer and access to the internet already, the only other thing I'd advise spending money on is a domain name. That will cost $39.95 for a 2 year registration of a com.au domain name (for which you need an ABN). Using services like domain-parking.com.au will allow you to establish an online presence for just the cost of the domain name.

I hope this has given some insight into how easy it is to start on the path towards generating passive income using the internet. I will be setting up an official mentoring program in the near future. If you'd like more information, or you have your own questions, please complete the request form below.

Thanks for reading.

Contribute to Passive-Income.com.au

info@passive-income.com.au — Wed, 30 Jul 2008 01:56:00 GMT

Have something to say about passive income?

Do you have views, comments or ideas on generating passive income? Perhaps you've developed a passive income system that you'd like to share or promote, or you've heard of a passive income scam (they exist) that you'd like to warn others about?

Whether it's a passing comment or a regular contribution to the site, we'd love to hear from you.

The first stage in developing a passive income system is building credibility and appearing on this website might be the spark that kick-starts your whole new life!

Free Guide To Generating Passive Income Online

info@passive-income.com.au — Tue, 22 Jul 2008 03:18:00 GMT

Free guide to passive income generation

Please submit your email address below and I'll send you the draft of part 1 of my Generating Passive Income From The Internet guide absolutely free.