Did you get into blogging because somebody told you all about the wonders of passive income? Wondering when that’s gonna start or if you missed something in the fine print? Read on…
Here’s the Wikipedia definition of passive income:
Passive income is an income received on a regular basis, with little effort required to maintain it.
The keyword in that definition is “maintain.” I’ve read more than my fair share of those How To Make Money Blogging guides and they focus on the idea that all you have to do is set up a blog and you’re done, it earns passive income effortlessly forever and ever until the end of time.
Nowhere in those guides do they tell you how long it takes and how much hard work it takes to get that blog to an income-producing level. Nor do they mention the fact that if you don’t regularly maintain that blog it will quickly stop producing income.
Many businesses other than blogging produce passive income. Rental property is a good example. Buy an apartment building and every month you just sit back and collect rental income from your tenants. But here’s the thing…
Before you can buy that rental property you have to do some type of work. You either have to build the apartment building or you have to earn enough money to buy an existing building. Either way, once you own that building you have to perform continuous maintenance or it will decay and crumble to the ground.
An author earns passive income from his book but he has to write the book first and that can take weeks, months, or even years. Once the book is published he earns a portion of each book sale, but if he doesn’t do something to keep his book in the spotlight, it’s quickly replaced by the next best seller and his passive income dwindles to nothing.
In any type of passive income business there’s a tremendous amount of work required before the income starts pouring in and additional effort is required to maintain that income stream. In most cases the passive income is directly proportional to the amount of effort you spend generating it. In other words, the more time and energy you invest in creating a quality product, the more unique that product will be and the more you can charge for it.
So, how does all of this talk of passive income relate to blogging? Well, it’s not as easy to generate passive income as those guides make it out to be, which is the reason most bloggers fail.
Your blog will generate passive income once it ranks well in the search engines but it takes a lot of work – sometimes years of work – to get it to that level. The faster you create content and the more content you create the faster you’ll start earning income.
And, like any other business, the level of passive income you generate will depend on the quality and uniqueness of your content, as well as the effort you put into promoting and maintaining your blog.