So, how exactly do I plan on accomplishing my goal of $1000/month in passive online income? That is an excellent question. In truth I am not exactly sure…I have only vague ideas and lots of ambition. I find it likely as time goes on my methods will evolve as I figure out what works and what doesn’t, but here is my current game plan. I plan on more or less following what I perceive the Google business model to be. Please forgive me if I am incorrect, but it seems like Google more or less operates by:
1. Creating awesome online services and apps.
2. Providing the services to the public for free.
3. Monetizing those services through advertising.
It appears to be working quite well for google (as well as countless other internet companies)…so why not me? It seems to me that internet culture more or less expects everything on the web to be free and most would prefer to view advertizements rather than pay for something (I know I would), so no wonder it works so well.
So first off I need to create something online that is useful and will attract visitors. I think the real trick here is to create something that is genuinely “useful” and not just “something”. Blogs are a way that many accomplish this (this blog is an attempt at exactly that). However I am quite passionate about games and want to try my hand at that as well. I am currently in the middle of developing a online HTML5 game. Hopefully the final product will be a game that is fun, appealing and will attract visitors.
Secondly I will provide the services I create for free (that’s pretty easy to do).
Lastly I will need to monetize the services/games/blogs. I still have a lot to learn in this area and I am guessing it might be a bit tricky to maximize the revenue of a site. I know there are countless services and techniques for this and plan on further investigating my options after I actually create something online that attracts a reasonable amount of traffic.
My thinking is that over time I can keep creating more and more online services/games/blogs until I make it to $1000/month. Sounds pretty simple right…guess I will find out.