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Breaking the link between time and money is one of the most important things you can do to increase your income. When income is linked to time, by definition income is limited since there are only so many hours in a week, and income is active rather than passive, meaning that income is only earned while working, rather than coming in passively when no work is being done like when you are asleep or on vacation.
This article will show you how to break the link between time and money so that you can build passive recurring income and achieve true lifestyle freedom. You can also find out about the 15 day online business challenge and how you can start building new sources of income in as little as 15 days.
Assets lead to freedom
Affiliate marketing and online passive income is very powerful and can run without requiring a lot of time and effort after initial set up work has been completed. Having assets generates income, and passive income and affiliate marketing income is the online equivalent to owning real estate and having rental income. The key difference is that affiliate marketing can be started for free and does not require large investment or risk to credit. The other limitation with real estate is that your income is limited by the number of properties you own and have rented out. Affiliate marketing has no such limitations and you can set up multiple campaigns and income streams.
Multiple streams of income
Top earners frequently have multiple streams of income, and use assets as part of their portfolio. Celebrities also leverage assets – which allows them to earn recurring income from work they have done once – for example through film rights, music rights and merchandise.
An important saying in business is to “First get free, then get rich”. So first you need to replace your income, then secondly – once you have your time back and are not tied down to a job you will have the time and opportunity to work on bigger projects to achieve your financial goals.
Affiliate marketing is a vast mainstream industry and many leading brands have affiliate programs – from Nike to Reebok to Amazon and thousands more. Categories range from retail, sports, health and fitness, nutrition, technology, pet products, travel, financial, training, cars, investment and many more.
Anyone can start affiliate marketing with just a couple of hours a week, and all you need is a laptop and an internet connection. We live in a digital world and companies all over the world have “affiliate” programs whereby you can become an affiliate and start promoting their products or services online – when someone buys through your affiliate link (a custom link provided by the company that tracks purchases) you earn commission in return.
Breaking the link between time and money
This is a key way to break the link between time and money. Someone can go from earning a fixed employee hourly rate to earning higher amounts by working that same hour, through working on high level activities and leveraging the power of affiliate marketing. You don’t need clients, or products, and there is no need to handle customer service, inventory, fulfillment or anything else. You are simply sending people – or traffic to your affiliate link to learn more about the product or offer.
Building high income skills
Affiliate marketing and online marketing are high income skills anyone can learn. Anyone can start from zero and start earning commissions. You can start with a few hours a week, you don’t need to start full time or with a lot of time. As long as you have a laptop and internet connection – or even just a smartphone you are good to go. You don’t even need to build a website or have an email list.
You can promote products and services you are interested in or enjoy using, or any other products that appeal to you.
You can start with free traffic, you don’t need to pay for advertising and you don’t need to build a website either. Through sharing reviews and talking about interesting topics relevant to the product you can generate interest and traffic to your affiliate link.
Reaching your goals faster
If you want to reach your goals faster here is a top tip. Focus on high ticket affiliate programs which pay high commissions, typically hundreds or even thousands per sale. This way you can create true lifestyle income with just a few sales per month. With low ticket affiliate programs you would have to generate many more sales to achieve the same level of commissions.
Generating free traffic
Here are some ways to generate free traffic to generate your first few commissions. The key strategy is to create content of interest on the topic and product you want to promote, and then send traffic to your affiliate link. You can use a link shortening service to make your link shorter.
Your goal is to provide value in terms of content to spark interest in the topic and product. It’s best to lead with value and interesting content, so that people will naturally want to find out more about the product. You can create content and reformat the content for different platforms. If you don’t like appearing in front of the camera – you don’t have to. You can create content and videos without appearing on camera.
To reach a large audience you can publish your content on YouTube, Pinterest, TikTok, Facebook, Instagram, Twitter and more, this is the fastest way to get free traffic. Platforms all work differently and you can create new accounts for your affiliate marketing so you can keep your work and personal profiles separate if you prefer.
A level playing field
We live in a digital world and there are huge opportunities. One hundred years ago wealth was largely controlled by land ownership and industrial factory ownership, you were either born rich, married rich or were able to build or access funds to acquire land or industrial property. Today we live in the information age and we are truly lucky to have so much flexibility and freedom. Some would say the internet has democratized the opportunity to generate income and build wealth. Literally someone can start an online business in less than one hour and earn their first commission as quickly as the same day.
This level of freedom and opportunity never existed decades ago, so it’s important to recognise and feel grateful for the opportunity and flexibility we have in the world today. As you build your online business, you will be able to scale up to promote more products and take advantage of additional traffic sources such as paid search advertising.
For more information on affiliate marketing and building passive income, see the 15 day online business challenge