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Originally Posted by Saidin  Passive income is never truly passive. You have to at least provide some value to others in order to make some money from them. This means you have to do something to create that value.
The most passive form of income is probably achieved by creating something (of value) once that can be recreated easily. Good examples are eBooks, blog posts and articles, music, etc. That's how some artists get rich: they create something once and sell it over and over again.
Look at what kind of things you can create once. After you've done that, you can extract value from it. |
From what I heard, artists make more money from doing tours than selling musics. That's because a concert can't easily be duplicated and tickets can reflect that. Last time I heard, some tickets can sell for hundreds or even thousands of dollars. It is simple supply and demand.
Concerts and tours work by the inherient scarcity of such performance. You can't simply duplicate the performance or the social experience in your home.
A copy of the music will no longer be as scarce as it is distributed across the net through file sharing networks. But if you do tours, this is actually advantageous to you. Because that mean you will have more hard core fans because of the publicy that your musics created. Some of these fans will translates into the ability to charge higher ticket price.
Sometime passive income isn't the best way to earn lot of money.
If you want to make lot of money with passive income, creating values isn't enough. You must have something that is very much demand, and that something is scarce.
For example, Steve Pavlina have something that personal development advertisers want. He have horde of traffics and customers interested in personal development. They're specially willing to pay a premium to reach these users.
Of course, don't take my word for it. I am not an expert on economic. I am just spelling out what I learned from some armchair economists.(one of them is an apparently successful entrepreneur though)
I must repeat, take my post with a grain of salt.