A lot of internet marketers have the singular aim of gaining passive income. Passive income is the ultimate aim in many cases because it means that you’re making money online without having to trade your time for money. Making money online is already highly liberating as it means you can work when and where you want. But if you’re working for a client, then ultimately you still need to do a certain amount of work every day to get paid, which means you still aren’t 100% free.
If your income is passive however, then you’ll be able to make money from your business even when you’re sleeping! If a friend turns up at your house and asks if you want to take a 5 day trip… you can! No need to tell clients and no need to lose out on money you could have been earning.
But that begs the question… what do you do when you start making enough passive income to quit your day job?
One option is to keep working while you earn passive income. If you’re making a full-time salary from selling an ebook, then you can carry on making a full-time salary from your job as well… and now you’re making two salaries. That can allow you to live a relaxed and indulgent lifestyle, free from financial stress and worry. Or alternatively, it might just mean that you can take an early retirement!
Pursue Your Passions
Better though, would be to quit your day job or your other online business and instead invest yourself into something you were truly passionate about.
That might mean that you start your own business that isn’t likely to turn a huge profit right away. Or it might mean that you take a relaxed day-job that won’t earn a fortune. Always wanted to spend more time outside? Become a park ranger! Wish you had time to write a best-selling novel? Go for it!
Many small businesses will create side projects like this in order to ‘bootstrap’. And with this money behind you, you can now go on to become a YouTube sensation, a famous blogger, or a recording artist!
Make More Passive Income
Another option is to move on from that passive income model and to set up another one. Passive income is endlessly scalable thanks to its minimum-input nature. The more models like this you set up, the more money you can earn and the more ‘resilient’ your business will be (meaning you’re not likely to end up destitute because one of the businesses failed!).
Become a Digital Nomad
Finally, you could always pack your bags and travel the world! You’re earning money online so you can carry on turning a profit anywhere you have your laptop. And because the income is passive, you’ll have plenty of time to explore those far-off lands! This is an amazing way to have a life filled with adventure and incredible experiences – and it’s something many people only ever dream of…