Lack of ideas?

[Muzzinho]

Hiya Im thinking at the moment of starting my own business. Anything in fact that will develop some form of passive income. I need to know about earning a passive income and how I can do it with little money down. Ofcourse, Im a student and I dont have much money. On top of that I am 19. I would like to know is it possible to make money from anything?

I know I have to provide some sort of service, but I dont know if there are any ideas out there worthy of my time, and I also know that I have to be more specific that just 'provide value' (this is the bit I need help with) I just feel like all the ideas have been taken!

What do you think?

[norbert]

create websites, write a book, produce songs, maintain web directories, start a blog, passive income can be generated in a variety of ways. I am actually working on these things because they need nothing but a PC and an internet connection.

Is there any area you consider yourself to be good at? It can be anything.. arts, science, programming, computer games... or, if not, what do you usually enjoy to do? Is there anything that really upsets you or you'd like to change in the world?

I think it is actually a better idea starting out with what you want to share (the message) and then find the appropriate mediums (the how) for it.

Steve's two most related articles (in my opinion):

• The Medium vs. the Message
• 2 Mental Blocks to Making Money

[Brutha]

Most of the time it doesn't matter whether the idea is already taken, when you go into the idea with passion and persistence.

He who has he most passion wins.

[nixxbox]

Originally Posted by Muzzinho

What do you think?

I think you should seriously reconsider your ideas about ideas
I'd recommend reading the essay Ideas for Startups by Paul Graham. He gives a lot of hints how to come up with good ideas.

[sysdomatic]

First off, it doesn't matter if an idea has been taken. You can take an idea that has already been done before, and give it your own spin.

Find something that you are passionate and knowledgeable about. Find something that you could write about on a daily basis.

Set up a web site. You can find reputable places that will offer cheap and reliable webhosting for no more than $10 a month. Buy a domain. That's another $9 a year. Find a web host that has Wordpress as a built-in option - meaning, you click a button and it is automatically set up for you.

Start writing. Daily if you can. Write unique articles. Eventually, you will start to build an audience and you can go from there. You can monetize via Adsense once you are getting a bit of traffic.

If I were you, I would start out with this method, because it is dirt cheap and your main cost will be sweat equity.

[mustard76]

remember that you aren't going to start making good money for a while so make sure you do something you are passionate about.

It needs to be something you will keep doing 6 months into it when you haven't started making money and you are thinking about quiting. It always takes about twice as long as you think to start making money. But it's worth it.

[rene_stpierre]

I have been looking for the same thing (a passive income) to supplement my current earnings. I have decided my passive income would come from Internet Marketing.

There are plenty of examples of people who earn a lot of money doing this. The only caviat is that many claim it is easy. I have found that to be "BS". Although I firmly believe it is possible to make a lot of money on-line, it requires work and persistence. It's like anything else you want to become good at.

Since I was brand new to the IM world and had limited funds, I have decided to start-off with Affiliate Marketing. I promote other people's products without a product of my own, without a website and without a list of subscribers.

It's strating slowly but I know it will work.

I am sure it can work for you also.

Good Luck!
René

[mlbr23]

My advice is to take into account 3 questions:

What can you be the best in the world at?

What are you deeply and truly passionate about?

What activitiy can sustain you (i.e. makes you money) and drives your economic engine?

When you find an answer that overlaps all 3 questions above, you've found what you MUST do to create a legendary business and generate passive income.

The above was taken from Jim Collins' Good to Great.

[sysdomatic]

This is certainly not "easy" but it's also not very complicated either.

If I could think of one word that would describe all of the people that I know who are successful online entrepreneurs it would be: persistent.

[rebelwithacause]

I agree with what everyone is saying...

The internet and online marketing is really the new frontier for entrepreneurs...and it will continue to grow.

Video and social networking has just exploded the opportunities online...

I've been out here for years and make a full time living at it...I guess my reply would be that it's simple but not easy.

You can literally start an affiliate marketing business in just minutes...you sign up, get your link, and then start promoting your link via marketing...

The basic premise of what you need to start is the foundation of what makes up the pillars of any online business.

1) the market (do your research and make sure there is a mkt)
2) drive Traffic to your content and offer
3) The product
4) Conversion and sales

That never changes...

and the basic marketing tools needed to drive traffic are things such as writing articles on your topic using specific keyword phrases around your product/service...and uploading to places like Ezine articles.com and go to articles.com

You can also use article submitter to upload to several hundred high traffic article directories...

Create little mini blogs at places like squidoo.com and hubpages.com

Google loves these sites very much, so they rank much higher and faster on the search engines than wordpress, blogger etc...

You Tube for videos and traffic geyser to upload those videos to hundreds of video directories...

Myspace, facebook, etc...

all those are the core of all on line marketing...

Web 2.0 has really opened the door to be able to drive huge traffic without spending a dime...

And social networking is awesome...

also what we are doing here...posting good valuable content in forums, and leaving your websites and products in the signature file...

If you are adding value and good quality content, and not trying to just "sell" people, you will always attract traffic and customers...

Just remember the Law of Attraction...

So definitely affiliate marketing or network marketing are great places to start...because you don't have to manage your whole business from the start, and you can still do really well...

I do both affiliate marketing and network marketing/direct sales...the latter because that pays a much higher commission than affiliate marketing....

I'm making $1K a sale plus the same on downline leverage, instead of $10-30...for the exact same work...

I hope that all helps!

Take care,

[Chrysalis]

Do yourself a favor, go to your local book store, or library and get "The Richest Man in Babylon" by George Clason. If the bookstore doesn't have it in stock they can order it. Or if you can buy things online get a copy from Amazon.com.

It's a small book, less than 150 pages, but what you can learn will change your financial destiny if you apply it. It's easy reading and you can finish it in one sitting as the stories are engrossing.

The fact is, not everyone has what it takes to put a site together like this one. Everyone will not discover some new idea that will make them independently wealthy.

This book however will give you the basis of Financial planning that ANYONE can follow. Then when the right opportunity presents itself you will be ready.

Pay yourself first.

~Chrys

[mustard76]

Originally Posted by Chrysalis

Do yourself a favor, go to your local book store, or library and get "The Richest Man in Babylon" by George Clason.

I agree!

This is one of my favorite books of all time. I gave copies to my family for Christmas this year.

I read this book for the first time when I turned 30. The only thing I regret is that I didn't read it when I was a teenager. Honestly, I made so many financial mistakes in my 20s that I probably got more out of the book than most people.