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Creating passive income is a dream for many people, but the idea of needing a large budget to get started can be discouraging. However, with the right mindset and strategies, it is entirely possible to generate passive income even on a low budget.

Creating a passive income on the internet is a dream for most people, but it can become a reality for anyone who has a computer and internet connection. Before diving into the vast realm of the internet, it is crucial to take certain factors into account, regardless of whether you are a novice exploring potential opportunities for passive income or a seasoned individual grappling with monetizing online ventures. Some important questions you should consider to help you decide on your best approach are:

Do you have a product or service you wish to sell? This can be a product you have created whether physical or intellectual. Do you already have some sort of presence on the internet, a website, blog or social media accounts? Do you have a budget? What will you have to learn to be successful?

First Step of earning Passive Income

There are a few excellent ways to start generating a passive income without spending a lot of money, but although it is possible to run a business without spending anything, this approach would usually be a very long process and require a large amount of work.

The best strategy is to establish a budget you can afford and work within that. The greater amount you have in your budget, within reason, the faster and easier it is to reach an incom
level that will support your lifestyle. But be aware there are many people on the net who work on the principle that it is easy to separate a fool and his money so beware!

Establishing an online presence can be achieved by initiating engagement on popular social media platforms such as Facebook, Google Plus, Twitter, LinkedIn, YouTube, Pinterest, and Instagram, alongside employing lesser recognized regional social media platforms. The challenge lies in the fact that these platforms have become increasingly saturated, making it arduous to contend with the competition, and causing your efforts to potentially go unnoticed amidst the overwhelming influx of information.

A few years ago these sites worked well. Now, with over 3.5 Billion people using the
internet regularly, it takes a bit of know how to use them effectively. Being very selective and careful in where you place your investment dollars is the key to success.

To begin, you will require a website, which could be in the form of a standard web page or possibly a blog. There are many companies who provide platforms for you to launch and maintain your website and what you choose really depends on what you are selling, the
service you are promoting and your budget.

Web hosting sites like the free Google My Sites is a suitable option as it offers the major advantage of being free, and it is easily picked up by the Google search engines. But it comes with limitations.

Other sites like Bluehost and WordPress are my preferred options. I like these sites because they are very user-friendly and have a good help service, including a chat where you can talk to a company technician who can help you with any problems you may encounter. The Bluehost package, for only a few dollars a month, allows you to have a free domain name such as (Will use my name for an example) www.RichardGadson.com, so you can have your website. With that, you can create up to 10 sub-domains, or web pages, where you can promote your products or services.

If you’re promoting a cookbook, for example, (whether you are the author or just promoting another author’s work) your sub-domain could be CookingwithRichardGadson.com. The domain also comes with several email accounts. These are very handy and can be tailored to suit any application.

It is always a good idea to use your name in your website. This is because there is no doubt about who the site belongs to and people will associate your name quickly with a quality
product. That is assuming you only have quality products. If you use inferior products and do not give value for time and money spent then you will have a very short future on the internet.

If you have a product that you want to try, but without your name associated with it, you can still use one of your sub-domains or create a new one by just not including your name in the internet address for that page. For example, you may find a great selection of chef’s knives and arrange with the manufacturer or supplier to sell them, so you can use one of your free sub-domains to do this.

Another option is you may wish to create another e-book such as a dessert cookbook, and that could be on a sub-domain page of your main site, but with its stand-alone web
presence, linked or unlinked to your main site.

When you start or join Bluehost and WordPress or any of the other web hosting companies, they provide full directions on how to set up your internet website and business, along with a load of productive advice.

Conclusion

Outsourcing all the required tasks and assuming a supervisory role could lead to a nearly completely passive source of income. Nonetheless, even in this scenario, some level of input is necessary, thereby ruling out the existence of a truly passive income platform. Having stated that, it is possible, and very reasonable, to have an extremely low maintenance income site.

Especially if you use and learn some tools and methods available from your WordPress site where it is possible to build monetization into your WordPress site and increase the earning potential of your sites with minimal effort. To make the most of these sites, you will still need to do all the general day-to-day site upkeep tasks such as writing new posts, marketing, and site maintenance, but the money-making approach you take can be simple and require little work on your part once set up.