Building an Income Stream for the Future. ~ Make Money Fast - The Million Dollar Experiment Down Under

Wednesday, November 29, 2006

Building an Income Stream for the Future.

One of the issues that bloggers can struggle with is whether to concentrate on building Passive Income streams, which are normally slow and can be hard to see results from. Or to concentrate on quick fire money earners.

Previously to starting this Blog, on my Job Hunters websites I was starting to see a little bit of passive income building up, for example in the last month these other websites have earned approximately $30 US dollars on Google AdSense and I have had to do nothing except a little bit of (free) advertising.

To make that same income on this website requires maybe 5 or six sponsored blog posts which is probably a couple of hours of work and once you have been paid that is that. It does not keep ticking along while you sleep.

Now here is the dilemma, in the beginning it is possible that you are making considerably more money, through non passive means, so should you concentrate on this or should you be looking at the big long term picture and concentrate more on building up that solid, but slow long term income that earns money while you sleep.

The sensible answer is to do exactly that and concentrate on building up the passive streams, however the motivation to do this, is extremely hard to come by. One way to go about this is to try and split it 50/50. This way you can keep motivated and still be looking to the future at the same time!

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Mike Perry said...

Yes, it's all about balance. Interesting article.

Anonymous said...

Thanks Mike, glad you enjoyed the article.