Why do I like the idea of Passive Income and Online Business?

I am excited by this idea of passive income. Why? Well, because it’s passive. I don’t have to trade my time for money. I have already done the work before and now I am reaping the benefits.

I like the idea of online business because it is very cheap to start. I can literally start it within 500Rs. and also it is open 24/7. I don’t have to go to any place, open the shop and close it every day like I would do in case of a traditional business. My online shop is ALWAYS open.

Benefits of Online Business

I will work from home. Or many be from a beach in Thailand. All I need is a laptop and an internet connection and I can work from anywhere. I have the flexibility to work 18 hours a day or just 2 hours a day. I can even work in my pajamas (or maybe with no pajamas).

There is also a great book called “The 4 hour workweek” by Tim Ferris which emphasizes the importance of building an online business. The summary of that book is given below:

I will be my own boss. I don’t have to listen to anybody. I don’t have to please anybody, meet any deadlines or give reasons for taking leave. I can take leave whenever I want and for as long as I want.

I get a chance to change people’s lives for the better. To make a difference in the world through my work. I will get a chance to create a change that I would like to see in the world and people’s lives.

I will position myself as an authority, an expert in a particular subject. People will look forward to me if they have trouble regarding that subject. It will give me fame. I will be able to earn my audience’s trust.

I always wanted to be able to create something. This will bring out the creative genius inside me and the more I create the better I become at creating more.

There is a serious amount of money that can be made through an online business. There are people out there in united states and other more developed countries who are making millions through their online businesses and that too passively.  That is around 10-15 crores per year!! CEOs of big companies earn that kind of money in our country.

If you think that it is only possible in developed countries to make money like this then you are wrong. There are tons of YouTubers in India having millions of subscribers. They monetize their following in various creative ways via affiliate income, selling digital products, Patreon (donations), paid sponsorships, ad revenues and lot more.

So definitely, it is possible to make money online even in India. I might not be able to make lacs per month but I definitely could dream of making at least thousands.

Internet Age

I think the world is changing at a ridiculously fast pace and everything is becoming digital. Internet, computers, and technology are now entering in every aspect of our lives.

People are watching less TV and more Youtube. Because Youtube is interactive and TV is not.

People are spending more time on Whatsapp, Facebook, Twitter and less time meeting their friends and family in person. After all, if you can meet them online then why go offline.

More and More people are switching from traditional physical books to e-books. E-books and audio books are now popular than ever and they are now on the way of killing traditional books just the way Whatsapp is killing SMS.

Every company out there has a website. Even small and micro companies have their own websites. Because it doesn’t cost much and gives access to reach literally anyone in the world.

All the jobs are going online. Upwork, Fiverr are some of the examples.

Conclusion

So, right now I am exploring this beautiful, wonderful and spectacular idea of passive income. I don’t know whether I will be successful or not making money this way. But I will give it a shot anyways because the benefits and upsides are high and nothing much to lose.

It is a fun and interesting thing to do. I can do it as a hobby. Even if nobody reads my content I would be improving my English and writing skills and also I would be reading my own articles.

You can wish me luck anyways. And also share your thoughts below in comments.

Thanks for reading 🙂