Ahh, passive income.
In my opinion, the sweetest two words in the glorious English dictionairy.
Today i’m going to show you girls how you can leverage the awesome power of SEO to build websites that generate passive income streams for you.That’s a website that makes money for you in your sleep!
Before you start making “get rich quick scheme” assumptions, hear me out. I’m not talking about pressing a few buttons and printing money from the magic money tree. I’m referring to the thousands of people who’ve created long-term financial assets by leveraging the incredible power of passive income ideas we all have available to us.
Many of the world’s most successful entrepreneurs accumulate wealth from passive income streams.
You see, contrary to popular belief, it doesn’t take thousands of dollars to start a business. Heck, you can get started for a few hudred dollars in some cases.
Freelancers do this all the time. They discover that they can do the same job they currently do in an office but earn more money and work around their schedule, so they sign up for freelance job boards and start taking on clients. Now, i’m at risk of making things sound too easy here and that’s not my goal.
Look – anything you do on your own will be really tough at the start. There’s lots of competition in every field of work. Any worthwhile achievement takes hard work and a certain level of dedication. But I wanted to highlight the amazing opportunities we all have in this crazy digital world we’re all living in.
To kick thing off, let’s define passive income:
So, what is passive income?
In it’s most simple form, passive income is money that is earned without requiring consistent work. In other words, you put in a heap of work once and you reap the rewards for months, if not years to come. This means that at the start, it’s definitely not passive at all! You’ll be slaving away creating a masterpiece that’s worthy of ranking on the first page of Google. But once you’ve completed this work and successfully promoted it, you can enjoy some of that sweet passive income yummy goodness!
How does it relate to SEO?
Passive income streams relate to SEO because organic search is one of the most effective long-term methods for building passive income. It can be quite cost-effective too if you’re willing to put a fair amount of time into it. I love SEO because we all have the opportunity to compete with big brands and rank for keywords that make us ALOT of money. What’s not to like?!
A typical example of a passive income business that could be started quite easily would be affiliate marketing. I always bring things back to affiliate marketing because it’s hands-down one of the most hands-off business models you can operate under.
Going back to the example, Gemma is slightly obsessed with cooking mexican food. She spends her spare time knocking up incredible burritos, enchiladas and chimichangas! She decides to start a blog to showcase her recipe’s and help people cook authentic mexican cuisine that’s delightful to look at and even more enjoyable on the pallette.
Gemma grows her blog over the course of a few months, acquiring links from other cooking blogs that helps her rank higher in the search engines. Six months into her blog, Gemma ranks for some great cooking terms that bring her a respectable amount of traffic every month. Now she is able to monetise her blog by providing product recommendations such as pots, pans and knives for (you guessed it) cooking! Anytime someone clicks through and makes a purchase from Gemma’s link, she gets a commission.
Now once she has her rankings, she could spend two weeks at a beach in Greece and still see those commissions come through week after week.
This is the essence of passive income.
The fastest way to build a passive income stream
Starting a website from scratch is really tough. Buying a brand new domain name is exciting but daunting. Why? Because the backlink profile will be zero. Meaning you would have to graft hard to build links for months if not years to grow your site to a point where it’ll be able to rank for keywords in your niche. This is obviously dependant on the type of keywords you’re targeting. It’s always best to go for the easiest opportunities when you’re first starting out.
Targeting the low-hanging fruit will ensure you start getting results in a relatively short space of time.
But even so, with a brand new website, it’ll take at least six months for Google to trust you enough to rank your site for keywords.
Buy a domain from auction.
This way most of the hard work is already done as you inherit a backlink profile from the site you choose to buy.
Here are some tips on picking a great website for your passive income ventures:
Pick a site that is closely related to the site you want to build, the more related the better!
- Check the website for any history of spam. The Wayback machine and the Spam Database Lookup are two good places to start. The former allows you to view the history of a site in time-capsule form and the latter checks the site against known spam databases.
- Check if the site is indexed in Google. If it isn’t, you probably want to avoid it. In some cases though, a site gets deindexed because it’s not been used for a period of time which is fine.
- Check the backlink profile with tools such as Ahrefs Site Explorer and Majestic. These analysis tools help you to figure out the value of a website based on the type of links coming in as well as check for links from spammy domains.
Once you’ve done your research you can place bids on the sites that interest you and save months, if not years by investing in a domain that already has an established and high-quality backlink profile.
After you purchase your domain you can start thinking about keyword research and content creation! Two topics that deserve entire articles written about them!
Happy passive income stream building!