How to make a 6-figure online passive income from your existing skills, interests and experiences

How much is enough when it comes to a monthly passive income? Determining the level of passive income you require on a monthly basis is a very personal decision. A generous passive income for one person may be viewed as insufficient by another, for example. However, it may be possible to gain an insight into the level of monthly passive income you require by focusing on your desired expenditure. Then, determining the level of risk you are able and willing to take in order to achieve that goal could be a sound idea. Of course, other considerations such as the sustainability of a passive income, and how long it needs to last, may come into play. They could determine the level of risk that you are willing to take in order to obtain a regular income. Expenditure levels A simple means of deciding how much monthly passive income is enough is to focus on your outgoings. They may be split into necessities, such as housing costs, and discretionary items, such as travel. Togeth...

Why it pays to have a passive income When I first started to think about retirement more than 10 years ago, I asked myself: How much do I need to save by the time I stop working so that I can live comfortably for the rest of my life? However, I realized that targeting a specific amount of savings for retirement is very challenging. A lot of difficult questions needed to be answered: How much will I be spending by the time I retire? Will I completely stop earning and just spend all of what I’ve saved until I die? Up to what age will I live? How much more should I set aside so that I will still have enough in case I get sick or live longer than expected? Planning for retirement only became easier when I started to think about how much passive income I needed to generate to maintain my current lifestyle. It also changed my priority from merely saving enough to accumulating assets that would generate enough income to support my spending habits in the future. Having a stable, passi...

Working from home requires discipline I would be disciplined enough to get my work done if I worked from home. Then I got my chance to find out. I work from home most days, and it’s working out pretty well 10 Stress Management Tips for Home-Based Business Owners Working from home sounds like it would be stress-free. If you have ever tried it, though, you will know that is not always the case. Working one or two days at home is one thing. Running your own business from home on a full-time basis quite another. If you get the balance right, though, running a business from a home office can work very well. You still must put in the hours, and you still have all the stress that any business owner has. But you also have a degree of freedom that you wouldn’t have if you worked in an office. As well as making sure that you are productive, you must also find ways of managing stress. Having no one else around to let off steam to can make working at home even more stressful. More...

Starting your own business is often a learn-as-you-go process. But, the more smart decisions you make early on, the better chances your company has to succeed.  First and the most crucial aspect is that instead of ideating about what to sell, think about what it will solve. It’s a lot easier to gain a solid customer base when your business is fixing a problem. Your start-up should fill a gap in a certain market or niche. If you’re like many entrepreneurs, you have a business idea and you’re ready to run with it. Be careful not to let your concept snowball into something overcomplicated. You could end up with an expensive, elaborate end-product that nobody wants to buy. So before setting on an entrepreneurial journey, here are a few important things to focus on.  Find Your Ikigai Your true passion lies at the centre of four things, i.e. what you love to do, what you're good at, what you can get paid to do and what the world needs. If your business idea and your...

Clicks are   not   an effective measurement of ROI. Different marketing strategies can offer different results and contribute to a different type of return on investment. Please take note that clicks are usually not an effective way of measuring results. Remember the mobile site loading speed example in the section prior? Let's say that your social media advertisement to a slow site received 100 clicks. If 53% of those clicks didn't even follow through to your actual website, that means only 47% of those clicks actually made it to your site as a legitimate website visitor. Then it's what they do on your website that matters, not just how many people showed up. The only time when clicks are an effective way of measuring digital marketing success is possibly during a test, in which you're trying to figure out which ad your target audience is more attracted to. The number of clicks was a defining metric in return on investment a few years ago, but now, there i...

Before you pay for digital advertising, learn what you need to already have in place and how to measure the results of your paid campaign. Many business professionals think that a digital marketing strategy is a no-brainer. However, it's surprising how many small businesses turn to marketing professionals and pay for a digital campaign without even a thought to what they're trying to accomplish. Businesses pursue digital marketing to accomplish sales. And you're right, that is a goal. However, there are so many more goals out there that digital marketing can accomplish to help you acquire sales.   The rise of technology has opened the door to make marketing strategies more effective but the competition for sales fiercer. Digital marketing is so much more than getting your brand seen – it has changed the marketing landscape to show why your brand matters. Therefore, it's more important than ever to have a solid digital marketing strategy to make your busin...

9 Lead conversion tips for success Industry experts share insights to help small businesses capture lead opportunities. Industry experts share insights to help small businesses capture lead opportunities. Audience research helps you generate leads and create a conversion plan. Persistent follow-ups are important. Researchers say that 80% of sales require five follow-ups after the initial contact. Pay attention to more than just the content on your business's website. SEO, keywords and calls to action often point leads in the direction of a sale. Generating leads for your small business can yield great results, but only if you can turn potential buyers into actual customers. Without that, any leads gained through Lead generation services, direct mailing efforts.   or any other marketing campaigns won't add up to much. To better understand how to convert leads into sales, we spoke with experts to find actionable tips that you can apply to your small business...