Passive income refers to earnings derived from a source in which the individual is not actively involved on a regular basis. Unlike active income, where earnings are directly tied to active work (like a salary from a job), passive income typically requires an upfront investment of time, money, or resources, followed by less regular involvement.
Here are some common examples of passive income. Let’s start with the first 2 which are definitely harder because they require upfront investments. BUT- alas, the last 2 require more sweat equity and great upsides too.
Earning money from renting out property. The initial investment includes buying property, but ongoing income can be relatively passive, especially if managed by a property management company.
Investing in stocks that pay dividends. Personally using an online app like Robinhood, I made $12k in investing in a year’s time. Yes, invested 10k. Yes, I bought a Tesla while it was down. But regardless I made that money and reinvested it. This involves initially buying shares in a company, and then receiving a share of the profits in the form of dividends.
Income from intellectual property like books, music, patents, or software. The creator or rights-holder earns money whenever their work is used, published, or sold.
Earning commissions by promoting other people’s or companies’ products. This often involves creating content (like a blog or YouTube channel) and then linking to products, earning money whenever someone makes a purchase through those links.
Creating an Online Course or E-Book
Income is generated from sales of a digital product. After the initial effort of creating the course or book, it can be sold repeatedly with little additional effort.
Let’s look at affiliate marketing. This is a great way to use a few hours a week to potentially earn a ton of money. Looking at people like Adam Enfroy who makes $1 million a year doing this, it’s totally worth the time and effort to look into it. Then, actually doing the work.
I created an Amazon affiliate account pretty easily. Just needed some basic information and an Amazon business account. Once you have that setup, you just need a confirmation email and you are all set.
Personally, I am really passionate about audio devices but the issue with this is that I cannot compete with the big guys like Best Buy or B&H and the like. So I learned how to do Keyword research using Ahrefs and found some interesting keywords, lower competition, and decent volume.
If you don’t know these terms:
- Keywords: search terms people use to find things
- Lower competition is an approximate ranking of how hard it would be to rank for the keyword
- Volume: Amount of traffic the term would probably get.
So for argument’s sake, I am looking up “Best Bookshelf speakers”
Again, this is a passion project for me. I would love nothing more than ranking for this because I love listening to music and can see myself (someday) reviewing these things.
Understanding how to read this is important because we want to rank for something long-term, we want to be able to get something that is obtainable. As we gain authority, we want to be able to rank for harder ones. This is a medium-term.
Here is the result:
The ranking states it as “medium” out of 100. This isn’t too bad considering the volume. If you do a search for “best Bluetooth speaker” you will see that the volume is huge but the difficulty is out of this word.
So back to the best bookshelf speaker. When we look at the SERP or the Search Engine Results Page
Search Engine Results Page (SERP) The page that a search engine returns after a user submits a search query. In addition to organic search results, search engine results pages (SERPs) usually include paid search and pay-per-click (PPC) ads.
… we see that this generates a manageable competition rate in my opinion. I think this is doable but will need to get backlinks.
What are backlinks?
An example of a backlink is any article you find that links to another source or website. You can find examples of website backlinks all over the internet, especially on popular blog sites that link back to relevant content.
So If I were to write an article about the “best bookshelf speakers” I would get an expected search traffic of about 31k if I were to rank for it in the top 5 (preferably 1st).
The Big Reveal
If I were to rank in the top ten and list my “top 3 picks” for “best bookshelf speakers” with links to buy, I could earn a commission. So the task is set.
- Do keyword research
- Find manageable keywords I could potentially rank for
- Write article
- Link to site with affiliate links
- Watch the money roll in?
Not quite, I still need to rank. So here goes, here is what I would write with affiliate links (I will post this in a separate article) but for informational purposes, this is the article on “best bookshelf Speakers”
Based on recent reviews and recommendations, here are some of the best bookshelf speakers of 2023:
I personally own these! Rated as the best overall bookshelf speaker by ZDNET, Klipsch is known for its high-quality sound and robust build
Polk Audio Reserve 200
These are noted as the best-sounding bookshelf speakers, likely due to their superior audio quality and design
Bowers & Wilkins 606
Recognized as the best overall bookshelf speakers, these speakers are celebrated for their quality and performance
Dayton Audio B652
Regarded as the best budget bookshelf speaker, offering good performance at a more affordable price
Highlighted as the best Bluetooth bookshelf speakers. These speakers are ideal for those seeking wireless connectivity
Both of these KEF models have been recommended by multiple sources, indicating their exceptional quality and popularity among audiophiles
Also mentioned among the best bookshelf speakers, known for its performance relative to its price
Wharfedale Diamond 12.1
Identified as the best budget-friendly passive bookshelf speakers, a great option for those looking for quality audio without breaking the bank.
ELAC Debut 2.0 B6.2
Another top contender for the best budget bookshelf speakers, offering excellent performance at a reasonable price.
Noted for its qualities, possibly including versatility or sound quality, as a top bookshelf speaker
Audioengine HD3 & EdifierR1700BT
These models are also listed among the best bookshelf speakers, suggesting a good balance of quality, features, and value.