Not everybody can afford to save money from the current job and hope to be financially independent after retirement.
Certain jobs are very rewarding indeed with handsome payment that also comes with nice pension plan, but the more common professions such as teachers, direct sales marketers, technicians, nurses, cleaners and many others are basically listed under middle-income category.
There is nothing wrong with those; they are respectable jobs that require particular expertise. Income is also not bad, yet we can increase revenue by generating passive income as supplement to the current jobs.
What Is Passive Income?
Circumstances have changed a great deal from the days of our grandparents. In the old days, people could work for a company for about 30 to 40 years or more and retire with enough pension plans to enjoy retirement.
Workplace is getting scarcer now and few benefits are available. Our hard-earned income is likely enough to pay the bills and for our humble hobby of collecting inexpensive watches, but it may not be enough to finance our entire retirement days.
While quitting your current jobs and finding better occupation is highly unlikely, one of the best solution we can do right now is to create dependable source of passive income.
Unlike the income from our current full-time job, passive income is revenue that you receive from any activity in which we not required to be heavily involved. In other words, you do not need to be actively working in the venture to collect money.
You may think it sounds too good to be true, but a lot of people have proven that this method actually works. Contrary to the popular belief, passive income is not generated by not working at all; it requires a bit of work (and probably good amount of money) at first, and then you can eventually let your money work for you.
Such revenue come from many different business ventures including but not limited to dividend, rental properties, royalties, business partnerships, and online affiliate marketing.
The current society does not put enough on generating passive income. Common belief is that we have to work for several decades, save some from the income,and enjoy retirement days from the savings.
Truth is that it does work for few of us,but vast majority of people cannot afford the luxury of enjoying good retirement days from active income alone. The idea behind income is simple: you do not earn active income while you are not working, but there can be other sources of revenue that provide steady flow of money even when you are sleeping.
Among all the aforementioned ventures that generate passive income, the easiest yet effective and least expensive to start is online affiliate marketing. It is worth mentioning that full-time profession make it difficult to schedule for your secondary business venture, but this does not apply to affiliate marketing.
For teachers, technicians, salespeople, nurses, cleaners, and all the middle-income occupations, starting an affiliate marketing is both easy and promising.
Before we get too far, remember that affiliate marketing is not a quick-rich scheme. It still requires you to do some work and learning, but the opportunity is real
Affiliate marketing requires you to have a website supported by hosting service. Some marketers even use free platforms. Marketers use the website to write contents (including videos, images, banners and affiliate links) about products sold by online merchants.
Somewhere in the contents, the marketers put links to redirect visitors to the product page available from the actual seller/merchant.
Unlike regular links you see in many websites or personal blogs, affiliate links can be banner or tests with functions to track referrals from your website; when visitor clicks the links and ends up purchasing the product, the merchant rewards you by giving commissions based on an agreed percentage of the product sales price.
Let us say the commission is 4% of the price. If the product worth $100, the commission is only $4, but if the product cost $1,000 or more the commission also increases.
Affiliate marketing can be either easy or difficult depending on how you prepare everything. Assuming that you have never tried this before, you will need guidance and intensive training from experienced professionals of the industry.
It suddenly comes to mind that learning also costs money, but not with Wealthy Affiliate. It is an educative platform designed for both starter and experienced to understand how affiliation marketing works and the proper ways to generate passive income from it.
Unlike most programs being advertised online, Wealthy Affiliate is not one of those get-rich-quickly approaches. Rather than making empty promises, the platform provides lessons, online classes, tutorials, and 1-on-1 discussion among others.
The interesting part is that the platform is Free. You can join at no cost at all, and there is no obligation to pay for anything.
For beginners or those with full-time jobs, Wealthy Affiliate provides step-by-step guide to setup your website, plan for hosting, use professional-looking website, choose the most lucrative affiliation program, launch the affiliation efforts, make money, maintain your websites, and expand.
Wealthy Affiliate even gives two free websites with hosting service for starters to practice everything you learn. If you think you have what it takes, you can upgrade your membership and continue to be part of the community or quit the program and run the business on your own.
Either way, Wealthy Affiliate gives you the basic knowledge based on experience. For middle -income professionals, Wealthy Affiliate make sure that you can learn at your own pace.
It means you do not have to quit the current job; because literally all the learning materials including videos and online classes are digital files, you can revisit everything if you forget something.
There is no strict scheduling, no risk of losing jobs, no risk of losing money or unnecessary investment.
Why Affiliate Marketing
The main reason is to generate passive income. The process of starting affiliate marketing is, furthermore, also easier than you probably think. Here are some of the best reasons why affiliate marketing is lucrative for you:
- Quick: setting up a website and launch the affiliation can be done in matter of hours. You can be up and running in the same day.
- No Cost: websites and hosting come at a price. With Wealthy Affiliate, such cost is non-existent.
- No Purchase and No Storage: you do not actually own the products. You are advertising for other merchants and earn commission for every sale you make.
- No Office: you need a computer and internet connection, and you can work from anywhere.
- No Employees: the real work is to post contents to the website. If you can spare time to write the posts, there is no need to hire someone. You do not need customer service and a number of departments to handle shipping, inventory, and payment gateway. Every purchasing process is handle by the merchant.
- People Buy: the internet has turned into the largest market where people buy products online. It is going to be long-running trend for the foreseeable future.`
For the inexperienced, affiliate marketing may sound either very easy or very difficult depending on how much you know about it. Before we get excited about it, you will need to understand that there are some popular myths associated with the venture, as listed below.
- It is easy to manage
That is only part of the truth. Affiliate marketing is easy to manage when you have passed the first several processes. Setting up the website, choosing a domain name, niches , best hosting, write contents, and keywords research are all parts of the first few steps. Similar to most ventures, the first steps are crucial and this is where Wealthy Affiliate comes in to make sure you make no mistakes.
Once you get everything done properly, the affiliate marketing becomes easy to manage. One of the most common mistakes is that people rush it and try to get their website running in matter of minutes. It is more important to prepare everything carefully, take your time, do you daily jobs, and then make time for the affiliation venture.
- You have to be in popular niche
While it is true that popular niche is more lucrative for affiliate marketers, it does not mean that you stand no chance at success doing the less popular ones. Popularity in the market also means more competitions, but consumers have different personalities that come with different needs.
Instead of trying hard to familiarize yourself with the products from the niche you do not like, it is better to try joining affiliation programs with the products you know well. Example your hobbies. That way, you know what to write and there will be more contents in your websites in shorter period.
Wealthy Affiliate offers assistance to choose the perfect niche for your need and knowledge, helping you to earn as soon as possible.
- Affiliate marketing is old
Link building is becoming old due to every update to search algorithm. However, there are many ways of doing SEO and build your online presence. Wealthy Affiliate is filled with a community of marketers who have been dealing in this industry for many years. They are willing to share knowledge with other marketers as long as you are serious and dedicated enough. Moreover, the notion of affiliate marketing makes perfect sense for search engine (such as Google), because it offers relevant information to consumers.
- Key to success is quantity
This is probably the worst myth about affiliate marketing. Many small website make money, but consumer still focus on quality relevant informative sources of information over quantity quality. Instead of making hundreds of websites filled with useless contents and lots of products image, it is better to seriously build one website with real useful content that provides valuable information to consumers.
Supplement your Current Income
Passive income is meant to give another source of revenue in addition to the income from your current job. Affiliate marketing is online business. and just like any other businesses, you need to make room for possible failures. Keep doing your current job, but waste no time in the trial-and-error process of affiliate marketing by joining the right training program.