Passive income requires discipline. It means trying various ideas until something sticks and works. It requires you to be patient and to hold out for long-term benefits. If you stick to creating passive income, eventually you will succeed as you learn from your attempts.
The reason why passive income is so good to earn is because it requires you to only put in the upfront work one time in exchange for receiving money over a long period of time. It allows you to explore your creative side and to find outlets in which you can contribute value to society multiple times from just exerting the time and effort once.
Passive income also allows you to live a freer lifestyle. Your life is not based on just your work and errands. In some cases, it can be based on your lifestyle and way of living. For example, Shark Tank’s Kevin O’Leary makes a living off lending money and investing money into the stock market while in exchange earning dividends. His whole lifestyle is based on extracting value through lending money to others. If he so chosen otherwise, he could retire from his work and still continue earning money. But instead, his lifestyle revolves around supporting businesses and investing money into them.
You don’t have to be mega rich in order to dabble into passive income. There are many ways in which you can earn passive income, from eBooks to eCourses to real estate. When you first start off, you have to adjust to a learning curve. That is, you have to keep trying different ideas until one works. You don’t have to be super serious in order to earn passive income. You can even explore the topic with some fun, such as creating a game app for Android or iPhone. There are kids who have already dabbled into creating passive income, such as creating and selling music. You too can earn passive income if you just set up your mind for success. Focus on ways in which you can contribute value to society, and then try different ideas until you can earn passive income.
The cool thing about passive income nowadays with the internet is that you don’t even need to have money in order to start with it. If you had to, you could access a local library’s computer and earn money such as through blogging. Or, you could save up money temporarily from a job and invest in a camera (or smartphone with a camera) to upload YouTube videos. The sky’s the limit. Just stick to one method of passive income before jumping off in several directions.
Nowadays, I would say that the main sources of passive income that I am currently exploring are 1) blogging, and 2) uploading YouTube videos. My channels (here and here) are growing in views and subscribers, so I have been more proactive in posting videos through YouTube. And my blog, while not high in traffic yet, has been growing in the number of articles I’ve been posting. So eventually once I hit a certain number of valuable articles, I will gain more traffic and earn more money through my ads/affiliate links.
Pursuing passive income can be something that you do while earning active income. You can approach passive income as a hobby or interest. Approach it with curiosity and wonder as opposed to just a numbers game. Because in the end, earning passive income is about enjoying your life rather than just putting in work. When I post a blog article or a YouTube video, I enjoy the process. It does not drain me, and I feel as if I am contributing good value to my readers and subscribers. You should feel the same too, as if you are contributing something good to society in return for passive income.