Messenger: Three specific types of messengers are required to ensure the transformation of an ordinary message into a viral one: market mavens, social hubs, and salespeople. Market mavens are individuals who are continuously 'on the pulse' of things (information specialists); they are usually among the first to get exposed to the message and who transmit it to their immediate social network. Social hubs are people with an exceptionally large number of social connections; they often know hundreds of different people and have the ability to serve as connectors or bridges between different subcultures. Salespeople might be needed who receive the message from the market maven, amplify it by making it more relevant and persuasive, and then transmit it to the social hub for further distribution. Market mavens may not be particularly convincing in transmitting the information.
The best way to take advantage of something like Airbnb is to have a separate property that sits vacant all the time. This way, you can just worry about keeping it clean and never have to worry about making sure you’re out of there when guests want to show up. While that’s not always the most cost-effective way (owning another property can be pricey), it’s the best.
At age 55, I own high-end rental properties (near the beach) and commercial buildings servicing the medical industry. I was widely criticized during my career for not living up to my income; that is, buying big homes with many fancy cars. I married a great woman who understood that saving and investing today meant a better lifestyle and more freedom tomorrow. Our passive income is half of my active income from sales, but my net worth has increased substantially. We are both happier and healthier than we were in the high-stress pressure cooker of franchise sales. The naysayers have become converts to the concept of passive income, but they have locked themselves into a “big hat, no cattle” lifestyle. It has been a great ride!
This is the best post I’ve seen on passive income streams. I’m similar to you in that I worked in IBanking for a few years but wanted out. My approach is a little different, instead of starting with the CD’s, I’m trying to build up my net worth with riskier asset classes such as stocks and real estate to get the benefit of compounding. Then, as I approach my retirement year goal, I’ll start moving them into CD and bond ladders. In theory at least, it’s best to have the highest net worth just before retirement, then convert them to risk free passive income. You’re method is more patient and probably more practical than mine. I guess I’m willing to take more risks.
Some good writing here! I am a realtor myself and frequently get in touch with clients that consider buying a realty estate a conservative of investing. I once heard of a transport company in Vienna, Austria, which focused their entire profit on buying eventually every house available in the downtown for about 80 years. That must be some of a passive income!
Scales easily from small to very large. To spread like wildfire, the transmission method must be rapidly scalable from small to very large. The weakness of the Hotmail model is that a free email service requires its own mail servers to transmit the message. If the strategy is wildly successful, mail servers must be added very quickly or the rapid growth will bog down and die. If the virus multiplies only to kill the host before spreading, nothing is accomplished. So long as you have planned how you can add mail servers rapidly, you’re okay. You must build in scalability to your viral model.
2) Find Out What You Are Good At. Everybody is good at something, be it investing, playing an instrument, playing a sport, communications, writing, art, dance and so forth. You should also list several things that interest you most. If you can combine your interest plus expertise, you should be able to monetize your skills. A tennis player can teach tennis for $65 an hour. A writer can pen her first novel. A finance buff can invest in stocks. A singer can record his first song. The more interests and skills you have, the higher chance you can create something that can provide passive income down the road.
Automatic investment selection is built into the platform. Investors set their criteria for the loans they want to invest in, and when one becomes available, the system invests your money for you. After that, you have 24 hours to perform due diligence on the loan. PeerStreet is the most transparent and elegant real estate crowdfunding platform I’ve used. Unfortunately, it’s for accredited investors only at this time.
The U.S. Internal Revenue Service categorizes income into three broad types, active income, passive income, and portfolio income. It defines passive income as only coming from two sources: rental activity or "trade or business activities in which you do not materially participate." Other financial and government institutions also recognize it as an income obtained as a result of capital growth or in relation to negative gearing. Passive income is usually taxable.
I like the way you have listed the ways to earn extra income and was quite surprise that you did not make mention of network marketing, which is a way to make extra income without quitting your regular, though most people view mlm as a pyramid scheme but the real pyramid scheme is a regular 9 to 5, because you can only have one president of a company at any given time and network marketing business model to promote product that can be used is really cheap to join and can offer a substantial extra income or what do you think?
The Blendtec viral video series Will It Blend? debuted in 2006. In the show, Tom Dickson, Blendtec founder and CEO, attempts to blend various unusual items in order to show off the power of his blender. Will it Blend? has been nominated for the 2007 YouTube award for Best Series, winner of .Net Magazine's 2007 Viral Video campaign of the year and winner of the Bronze level Clio Award for Viral Video in 2008. In 2010, Blendtec claimed the top spot on the AdAge list of "Top 10 Viral Ads of All Time". The Will It Blend page on YouTube currently shows over 200 million video views.
This can be a little easier said than done, but if you have a large social media following, you can definitely earn money promoting a product or advertising for a company. You can even combine this with different marketing campaigns if you are an influencer and have your own blog (advertisement + affiliate income). This is how many bloggers make money! Again, it is not 100% passive but once set up correctly and then scaled, can be surprisingly lucrative.
Hello, I have just started my own blog this week. I too have read a lot of Rich Dad Poor Dad’s books and the 4 Hour Work Week and am hoping to be on the same path as you. I love your blog! Everything looks great. I am still learning— so much to figure out! My blog is bettybordeauxdoesitall.com. I have to be anonymous because of my job. Thanks for the inspiration and best you!
There is debate on the origination and the popularization of the specific term viral marketing, though some of the earliest uses of the current term are attributed to the Harvard Business School graduate Tim Draper and faculty member Jeffrey Rayport. The term was later popularized by Rayport in the 1996 Fast Company article "The Virus of Marketing", and Tim Draper and Steve Jurvetson of the venture capital firm Draper Fisher Jurvetson in 1997 to describe Hotmail's practice of appending advertising to outgoing mail from their users. An earlier attestation of the term is found in PC User magazine in 1989, but with a somewhat differing meaning.