1/28/17 (2nd WebSite Launch Expanding Ideas for Monetization that Generates Passive Income)

So it will likely be a month or more before this post actually ends up on the website. As titled I’ve launched the 2^nd website, this one. It was a slightly smoother process, still ran into some of the same issues (how to get the site indexed) and how to get the code for Google Webmaster / Analytics on the site.  As I mentioned in the last post I used the Yoast Plugin for SEO so I have to figure out how that works from the standpoint of providing detail about what’s going on with the site. Bluehost provides SOLOSEO for the first domain you create and I find the tool useful. However, it came down to a choice of paying for their multi-domain service or using Yoast and it’s service (for free).

Anyway that’s not the real point of the post. Before I pushed the button on publication of the new site I did check via keywords what was out there already. I think this fits an open niche. I saw lots of sites that spoke about traditional savings and investing (401k, IRA) with the focus on starting early so you can use time and interest to multiply your savings. That is great advice and information for everyone. However, my site is focused on creating whole new streams of passive income that initially relies on some level of ‘investment’ but ultimately is designed to self perpetuate. And to do it under the confines of a corporation (LLC); check out my page on Seven Steps to setting your business up as a corporation (of course after you finish reading this post).

In listening to the various podcasts I subscribe to I was amused / bemused that they spoke of Rich Dad or the Rich Dad book series. I was into those books at the turn of the century and they are still great resources, in particular Cashflow (click here for my affiliate link to Cashflow by Robert Kiyosaki). However, at that time Rich Dad primarily focused on passive income thru real estate investing. Which is great if you have the initial funds to invest in real estate. The internet was still in its infancy so the only other examples of entrepreneurs that anyone saw were dotcom types going after venture capital funding and network marketing opportunities. So, effectively for many, there really was no experimental model to apply Rich Dad’s techniques to in the late 90s and early 2000s.

There is now and it’s incredible to see so many people striving to create those self sustaining passive income streams. I noted two fairly rapid monetization techniques for passive income to start to initially drive income to one’s business and realized during development of the page for the 2^nd technique, option trading, that this was a topic with a lot of detail and would require much more in depth explanation than a simple post would allow. Click here to review the option trading monetization technique. I’m excited about this site as it really hits on things that are passion points for me and would seem to be of benefit to others. And of course I am thinking thru expanded services opportunities and also thinking ahead to the third site (don’t have a full idea yet but am thinking).

From an income standpoint the 1^st website has produced six times the income from December (which wasn’t much) but it’s an increase. I guess more importantly is watching the increase in traffic. The Prosper account is on track, I have 25 active loans, which are all current and two that have payed off early. Which means that money can be reinvested. The beauty of Prosper, the first monetization technique for passive income that I mentioned, is that, theoretically you could fund a loan every day of the year. If you were to fund a loan every day of the year that means you would receive payment on or around the day you funded the loan. How cool would it be to have passive income coming to you every single day of the year? Check out my write-up on the Prosper.com monetization technique for passive income.

So I am making progress, this has been a good week, getting the 2^nd site off and becoming a little more efficient at WordPress, it’s still a big learning curve. I encourage anyone who is just starting out to stick with it. Take a look at where I was in October 2016 with the Amazon FBA. Went down a path and it was not the correct path for me. Stay encouraged!