Making Money

This article is about making money to fund a prosperous and comfortable lifestyle in financial freedom from the limitations that beset most people in today's western world.

I will focus primarily on making use of the Internet as the main source of income for a person who has access to a computing device and an Internet connection.

That's because with the Internet it is possible to generate a viable income from literally any place on the planet as long as it is connected to the world wide web. All it takes is the right know how and the motivation to lay the foundation work to get things moving.

Money is Important

While it is possible to have enough money to get by in life, having more money can make things much easier.

We all want to be able buy things we can't currently afford, so what's needed to increase the amount of cash we can create?

How can a person make extra money when their income is limited?

Many people find that a second job is their only option to pay the bills and make enough money for the nice things they want.

There are only so many hours in a day that you can dedicate to work. Then, you need to get enough sleep!

Passive Income

Imagine if you could make more money by working less hours every day.

If you know how to make money online with your computer, laptop, tablet, or smartphone (more later), then yes.

This question is often dumbfounding to most people because they are stuck in the mindset of:

"You have to go to work in order to make money."

Most people understand that working is the only way to make money.

It is so disappointing that people don't understand the importance of seeing beyond the "job" mentality and see a larger picture with many more opportunities to make more money.

Their employer is the best place to start.

This does not refer to the person who sits in an office and oversees the staff. This is a manager that earns more than the workers they supervise.

Many workers at the bottom of a company's ladder want to be managers. This is because they can earn higher wages and take on more responsibility, but it also means less work.

This is the classic "career pathway" system that most companies use.

Starting a Business

Being the person who owns the company has a lot of benefits and privileges that are not accessible by most regular people.

The boss is the person the workers rarely see. This is likely because he or she is seldom present on the company premises.

Most often, the boss can be found out on the golf course with other bosses from other companies.

They aren't likely to ever do any work, but they still make a lot of money as the owner of the company. Even more probable is that the boss doesn't pay much, any taxes at all, effectively increasing their wealth by default.

This idea is a nightmare for most people. This is because most people have been taught early on that you must work to earn money and then the government will tax you.

How can a company owner who makes more than their employees pay less tax (if any)?

This is the topic of another article I'll post later. But, we are interested in how the boss makes so much money while they do not seem to be doing any actual work.

Passive income is what it sounds like. It means that you can earn money without having to work for it. This is money that you can generate without having to put in any effort or time to keep it coming into your pockets.

How to Earn Passive Income

There are many ways to make passive income streams.

First and foremost, it's better to have employees who generate the company's profits instead of doing all the work yourself.

This effectively multiplies your time by a factor of the number of people you have working for you. As the boss, you get a large chunk of these profits without having to do anything or spend any of your own time earning it.

However, not everyone can become a company owner. There are many other passive income streams that you can take advantage of.

Outsourcing

One way to do smart work is to take on freelance work but to then outsource your work. Here's how it works:

Imagine that you are a freelance software developer and create software solutions for various companies. They pay you to deliver software packages to their businesses.

You will usually meet with the people in charge of the company to discuss what they need. Then you give them a rough outline of what you plan to provide and you both agree on a fee for your services. For example, you might agree to receive $10,000 for delivering a working software package in four weeks.

Two options are available to you:

First, all the work can be done by you, including the development of the software. If you work eight hours per day, five days per week, the job can be completed in four weeks.

Second, outsourcing the work can be done to a software developer located in a country with a lower cost of living. The person will be paid $5,000 to deliver the software package within 3 weeks. You can give them some flexibility if they take longer than that.

Most people will choose the first option, as they get to keep all of their money. They do the work they enjoy and are skilled at.

If I was in this situation, the second option would be mine.

It means that I only get half of the money.

Time is a Valuable Asset

Outsourcing my work is something I would prefer to do every time. It frees up many hours per week and allows me to find more work from different sources.

If my expertise is in high demand, theoretically I could accept four similar contracts within those four weeks for $10,000 each. I would outsource the entire work and pay each person $5,000.

I would make $40,000 and receive $20,000. My monthly profit would be $20,000, which is the same amount I earned from no work.

They would be very happy with the work they did. The $5,000 I paid them each probably represented a very high income in their country. I would also be pleased if they were willing to do more work for my company in the future.

They will also do a great job and I will continue to send them more work.

Although this hypothetical example is not real, it is something that happens every day in the real world. It is not uncommon for people to take on large contracts and then outsource work for less money, while keeping the rest for themselves.

Although this isn't entirely passive income as I would still need to go to meetings to get the contracts, and then spend more time looking for outsourcers to do my work, it still allows me to free up some of my time and I still get paid.

Passive Income Online

Another way to generate passive income is to use the Internet to make money.

This requires some upfront work to create websites that can earn commissions from selling products from multiple vendors.

This requires a lot of learning, and also how to market your website to get visitors who are likely to purchase from the ads you place on it pages.

Affiliate Marketing

Affiliate Marketing is simply referred to as directing potential customers to the seller's sales pages through a link on your website. You earn a commission for each sale.

Your website becomes passive once it is up and visible to potential buyers. Because you only have to do the work once, multiple sales can be made from the same web page as long as it remains in front of buyers.

This type of marketing is not free. There are also costs associated with making money. This passive income stream can be very lucrative if you make more than these costs.

In a separate article I will cover the process affiliate marketers use to make money. This article will be linked to below.

Summary

While there are a number of ways to generate an income without effectively trading your time for money, you need to have the knowledge and the ability to take advantage of them.

For sure, affiliate marketing online is one of the more effective ways of doing this, especially as a passive income model. That's because it requires only the ground work to be done first, followed by a few hours of maintenance here and there to keep the money train running.

This website is here to provide that knowledge and to help a person to start making money using systems and strategies that already exist rather than trying to re-invent the wheel, so to speak.

There is a huge amount of money out there to be made. You just need to know how to get it!




For more information, please visit:

https://moneymakingpillars.com
https://makingmoney.pages.dev/index.html

Last Updated: October 12, 2023


Take a look at the video about making money from Forbes below:

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