Between Passive Income Online and Passive Offline Income
Between passive income online and passive income offline: everyone must crave passive income where money will work by itself and enter our pocket.
But, this requires a process to be able to see business opportunities and try them.
Business opportunities always offer various benefits for entrepreneurs in addition to a number of challenges that need to be recognized.
Choose which one, get passive income from online business or offline business?
Get to know the various components that you need to consider and know when choosing an online or offline business.
My Financial Rubric
Passive Income Online or Passive Offline Income?
Passive income? Who doesn’t want ?? You are of course very interested in having passive income.
We only need to enjoy money that will work alone for us.
Dreaming of having passive income is okay, even if you want to succeed, especially in financial terms,
you need to have a dream to have passive income.
There are many ways and opportunities to achieve financial success and feel financial freedom aka get passive income.
At least, there are 2 business opportunity options that can now be a bridge so that we can
go to a passive income position, namely an online or offline business.
Your choice will determine how the strategy and every way you do to achieve that passive income.
Let’s look at one by one, what you need to know if you have an online or offline business to achieve passive income.
Passive Income Online
In this modern age, people can do business and get profits just by sitting quietly at home and
not needing to go to the office all day with various demands and deadlines from superiors.
Online business allows someone to become a boss for himself or not need to need an office or shop to launch his business.
Of course, because the growing internet network makes online business often a choice, especially for the millennial generation.
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If someone intends to do an online business for the sake of achieving passive income,
then what are the things that need to be known, prepared and considered, especially the various obstacles that must be faced
# 1 Requires a Relatively Long Time to Produce Passive Income
It turns out that online business requires a relatively long time to produce passive income.
But, long is about time and process, doesn’t mean it’s impossible right?
Just say, you do an online business like selling a product online through your social media account or a web that you manage yourself.
The benefits obtained are relatively not too large and this depends on the amount of product purchases every day.
# 2 Does Not Require Many Experiences, Special Knowledge and Capabilities
To run a business online it turns out that it doesn’t need to require a high level of experience and special abilities.
This depends on the choice of business you want to do.
If you do business online independently, for example being an article writer or becoming an affiliate marketer,
of course you need at least the ability to write and persuade others to read your articles and
sell products from companies that become affiliates of your website.
[Also Read: Prove it! 7 Tips for Submitting KPR So Your Submission Will Be Received By The Bank]
Not that the online shop entrepreneur does not need to have the ability to sell.
At least the average ability has also been able to build an online business and
with a strong determination to try even though at first it was just a trial and error,
but over time, online entrepreneurs will get a variety of valuable experiences in line with their diligence in running the online business.
# 3 Doesn’t Require Large Capital
This is the biggest advantage of starting an online business, without the need for large capital, even very minimal capital.
There are many online businesses that do not even need to require large capital
(although still need capital in the form of goods used to produce products), for example if you are an article writer.
It seems that the main capital needed is only a computer or laptop and also an internet connection and
you can generate profit coffers from behind the desk in your home, even wherever you are, you can make money through your laptop.
Another example, online shop entrepreneurs can get opportunities such as dropshipping, without the need for a large place to store items
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Stages of Achieving Passive Income through Online Business
Here are the steps to achieving passive income through online efforts.
# 1 Have a Business Idea and Work Hard
There are many business ideas to be used as online businesses.
The question is, what will you sell?
Goods or services? And what are the products like?
The point is to sell goods / services that are needed by people in general,
that will bring benefits that are quite promising for your online business.
After having an idea about the product / service that you are going to sell and market,
work hard to make it work and get many customers.
[Also Read: Can Education on Finance at Workplace Increase Employee Engagement?]
# 2 Start Working on the Project
Once the idea is obtained, immediately start your project from small things and
perseverance capital and hard work will make you successful.
Online businesses do not require large amounts of capital, even relatively small, this is a very positive opportunity that cannot be missed.
Therefore, immediately start working on your project and immediately collect your profit coffers.
# 3 Automatic Sales
The more customers you get, the more profits flow and your money will spin quickly.
This is what most people want through online business.
# 4 Make Money
Every business will certainly get results, as well as online businesses that you work diligently and work hard.
From the sales turnover, of course you have to roll back the funds and allocate to each post that is needed,
including the benefits you need to get from the turnover.
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Passive Offline Income
After discussing passive income online, we will now compare ways to get passive income offline.
What needs to be known and prepared to do business offline to collect passive coffers of income?
# 1 Doesn’t Require a Long Time to Get Passive Income
Unlike online business, passive income is obtained with a relatively faster time. Who doesn’t want?
But, of course there will be sacrifices at the beginning that must be given up. What is that?
Of course the required capital will certainly be greater and we will discuss it in point 3.
# 2 Capable Ability, Experience and Knowledge
Because of the relatively fast profits obtained, the results are quite large in proportion to capital, of course,
the ability, experience and knowledge that is required for those who want to produce passive income through an offline effort
# 3 Capital that is relatively large
As discussed in the first point, offline businesses do require relatively large capital at the start of this business,
in contrast to online businesses that require relatively little capital.
For example, if you want to try to sell clothes offline, of course you have to prepare capital to buy or rent a place to sell as a store.
[Also Read: Women Businessmen, See 6 Business Strategies That Will Bring Growth]
Unlike online businesses that can sell merchandise through a website or social media and do not need to rent a place to open a store
because customers will access goods / services through the internet network.
# 4 Doesn’t depend on the customer
Offline businesses seem to tend to be superior to online businesses in terms of dependence on customers.
For example a boarding house business.
The entrepreneur certainly does not need to bother to advertise and look for customers who will rent a boarding room,
especially if the boarding house is located in a strategic area such as an office area, university or high school.
Why is that?
Because customers themselves will look for boarding houses because of their need for temporary housing
when they work or study in the area (especially those who migrate from outside the city or island).
Stages of Achieving Passive Income through Offline Business
Following are the steps to achieve passive income through Offline business.
# 1 Begins with Hard Work and Knowledge
To start a business offline, large capital is required. To accumulate capital, of course, hard work, patience, and following the process are needed
[Also Read: Success Stories of Johnny Andrean Founder J.CO Donuts, BreadTalk and Johnny Andrean Salon]
# 2 Buying assets
After the funds are collected along with planning that is starting to mature, of course offline
businesses need assets needed to generate profits, such as boarding house businesses,
you need assets in the form of a house built with the necessary rooms and facilities, according to the target market and rental price make sense.
# 3 Buy more assets
Offline business is indeed closely related to assets. The more assets you have, the greater the profit you get.
Therefore, buying assets again is the next step after the previous asset is able to generate large profits to buy the next asset.
# 4 Making Profits
From an offline effort that is cultivated patiently through patience and hard work, of course it will produce comparable profits.
From the benefits, it is wise to determine the purchase of other assets and allocate funds for other businesses that are more profitable.
Which is your choice?
There are many business opportunities, both online and offline that can generate profits which will eventually become passive income.
What kind of business will be your choice to generate your own passive income?
An online business or an offline business which if you choose now and why? Give your comments and comments in the fields provided below!
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