How to Make Passive Income: The Secret Formula

 

Have you ever wondered if it's possible to relax more often, spend time with your family, maybe learn a new skill? Well, it IS possible with passive income. In this article, I will be sharing with you my secret formula for achieving that within a reasonable amount of time!

Passive income is mainly income that requires minimal labor to earn and maintain. It is referred to as progressive passive income when the earner expends little effort to grow the income. To some up, it is any business activity in which the person earning does not physically participate. Other examples include rental income. This means passive income is any money earned in a manner that does not require too much effort. Several passive income-generating ideas need a lot of work, to begin with, like developing a blog or leasing property. Still, eventually, they earn money even when the owner is asleep.
Passive income also includes a limited partnership or other businesses in which a person is not actively involved. In this case, the person is referred to as a silent investor, for example. Portfolio income is also considered passive income, so dividends and interest would be regarded as passive.

Even if a person already has a full-time job, they would be able to welcome additional income with little to no effort on their part. Developing a way to generate passive income provides many benefits. With this extra income, you can even potentially take early retirement. Moreover, passive income is a backup plan in case you lose your day job.

Without further ado, introducing the formula on how to make passive income: EGC+MON+SEO=99%PI. Don't be afraid, I'm not about to walk you through some math class nightmare. The preceding terms are really simple and are the key on how to make passive income. Read on to find out what each one means as I explain them step by step!

How to make Passive Income using EGC

Now, for the first of our elusive terms: EGC This simply stands for evergreen content. Evergreen content is content that is always useful, like for example a guide on how to lose weight. As long as human beings care about eating healthy or losing weight, that topic will remain relevant. Other examples might include a DIY on how to make cake at home, a video on how to change your car's tires… etc. What all of these have in common is that they have been around for decades and will continue to be so for decades to come.

Now, to get a bit more technical: what is content? Content can be, for example, an article in a blog like this one here or maybe a video on YouTube like the one this article is based on. Another example of content is also tools and programs like my 4-Educate super tools Now that you know what EGC is, you're one step closer to knowing how to make passive income!

MON for the Win!

Previously, we discussed EGC and the different types of content, now onto the next thing! MON is the second element of how to make passive income. It stands for monetization which is to make money using your content.

For my first example, I will mention an article on my blog at H-educate. The article is titled: “How I Moved from 1K to 10K $ in 18 Months working Online! (case study)”. That article is evergreen content, I estimate it to last at least 5 years. The way I monetized it is by promoting my courses and services on it. Another way is to use affiliate links in the article. For more information on affiliate marketing, be sure to check out my affiliate marketing tutorial on YouTube. 

Make Passive Income and Live Free

One final revision before we close things off: Find or create evergreen content; Monetize using one of the 3 methods; Get free organic traffic from Google. With this I have shared with you the complete secret formula on how to make passive income. With passive income you won't have to worry as much and will have more free time for family, friends, hobbies…etc

Thank you for reading this far! What are other formulas you use to make passive income? Share them with us in the comments below.