In the last decade, internet has created more opportunities for passive income generation than any other medium for an individual. The potential for this medium is huge in the many years to come and it will grow by leaps and bounds. We regularly read success stories of people who have become millionaires and billionaires through this medium of internet and through the businesses associated with it.
On one hand there are big corporate examples like facebook, twitter, amazon and linkedin which have now become inseparable parts of our daily life. On the other side there are success stories of thousands of bloggers and digital entrepreneurs who have created innovative passive income streams through the medium of internet.
The basic business model in the internet arena is simple to understand:
- Set up a website/blog
- Put up useful content or system or product for the audience on the site
- Attract web traffic/visitors/eye balls through marketing effort
- Engage, influence and convert the audience
- Earn revenues through advertisements and/or product sales
- Repeat the process
Though it sounds simple but to achieve the desired results you need to get into the details of the process and understand what works and what does not. Each of the above stage has its own tools and techniques that can be learned to master the process of passive income generation from internet.
You also need to get comfortable with terms like blogging, ad sense, search engine marketing, affiliate marketing, information products, drop shipping, subscription model etc.
“The internet is becoming the town square for the global village of tomorrow.” – Bill Gates
Internet and the population connected to the net is like a huge 24X7 market place where websites are like retail stores selling various products and services and attracting online audience to engage and convert. If you have the ideas and willingness to learn and implement then you too can make a huge impact in this ocean of future opportunity. After all who doesn’t want to live the Laptop Lifestyle and have a The 4-Hour Workweek.