An online passive income system enables you to work once, but make money many times over. One of the easiest ways to do this is to freelance for a while and pay attention to the kind of output you are producing. Once you determine the pattern, you can create a product based on your experience that people would want to buy.
The reason why I suggest doing things this way is because you validate the market.
When you do freelancing you can quickly see which types of subject matter get a lot of attention and which ones don’t have any commercial value. Obviously, you are going to create products that have a demand. Market demand is the key.
You should not waste any of your time or mental energy thinking about products that may or may not have a demand. Now, in your mind, they may be the best thing since sliced bread. In your mind, you are really pumped up and excited about them, but it turns out that if you actually put in the time, effort, and emotional energy to put them together, people won’t buy it.
So, don’t do that. Instead, use your freelancing experience to get a clear understanding of where the demand is. Once you’ve done that, put your notes together and come up with a perverted version of your service.
For instance, for the longest time, I was freelancing as a writer and I noticed that a lot of people were ordering custom email response scripts from me. Day after day I would get such orders and I got so good at it that I was basically spitting that stuff out. I just knew a few broad parameters and I just basically fill everything in.
In fact, at a certain point in time, I was just dictating this stuff and I could crank out 6000 word order in as little as 50 minutes. Thanks to dictation and the help of amazingly talented, dedicated, and skilled people from all over the world.
So it dawned on me that since there is a tremendous demand for that type of material and they seem to always fall within a certain niche. I took notes and I came up with my own research and wrote manually really high quality auto responder email materials.
We are talking about stuff that can convert sales. We are talking about emails that have headlines that make you sit up, pay attention, and click on the link to see what is going on. When I launched the product, I saw $25,000 in a span of 3 days; no joke; real story, and from then on, I split my time between custom stuff that I do for clients which I either write or dictate and things that I do for myself which replicates my initial success with the email reply system.
The whole point here is for you to use your own specific experience to come up with your own products which you can sell many times over. Active income, make no mistake about it can be fun. I had enjoyed learning all sorts of topic categories that my clients want me to research, but it can get old quickly. Also, if you have kids to raise or a family to take care of, you want to maximize your time. This is why it really helps extensively to build passive income based on high demand products.
Unfortunately, there are no right or wrong answer here. You have to find out the answer based on your particular experiences, whether you are freelancing or doing start-up companies or business development, the answer will come to you based on your experience.