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Contrary to popular belief, most online businesses are not able to create residual income for life.
I'll just burst your bubble right now, and let you know that if you build a business on the internet, most likely you are going to have to maintain, grow, or flip your business somewhere down the line.
Part of the problem is that ‘gurus' and scam artists have perpetuated the idea that the internet can make you rich, it's super easy, and the information on how to do this can be bought for $47.
While you can get rich on the internet, unless you accidentally create an amazing viral video on YouTube or buy a domain name that a new company wants to buy from you, it's most likely going to take some hard work not just to learn how to build this business, but also to create something that's going to provide you with sustainable income.
The truth is, there are plenty of ways to ‘game' Google into thinking your low quality site is actually good stuff, and these tricks may provide you with decent rankings for a short period of time. But soon enough, your spammy links, low quality content, and poor user experience will begin to show, and you earnings will shrink.
To build a sustainable business that can provide you with long term, unwavering income in the future, you need to do a few things.
- Find a profitable “evergreen” niche
- Build a strong foundation for your site
- Add interesting, engaging content regularly
- Be active in social media (depends on niche)
That may seem like a short list, but the thing is, you could do that pretty much every day for a couple years, and build a huge, successful, popular website. With the right combination of the above techniques, your website can last for a long time, and eventually be on ‘auto pilot' while you're away on vacation, concentrating on other efforts, or doing whatever it is you do.
Eventually, if you put no work into your site, competitors will surpass you. The content on your site will grow stale and possibly irrelevant. New visitors will come, but old visitors will move on, and your rankings (and earnings!) will begin to slip.
To stay on top of your game, and keep your wallet fat, you're going to need to do some kind of maintenance along the way.
So the idea of completely ‘auto-pilot', or 100% residual income for many years, with no effort needed is a bit exaggerated.
But it can be awesome! I'm currently working on this site which is currently making $0 per month, and I've let some of my other sites to sit and stew with the work I've done in previous years. They are making money, but I haven't worked on them for a couple months. I know that eventually I'll need to do some upkeep on them, but for now, I'm not worried about it.
If you would like to see how I build my sites, and where I learned how to do what I do, you can join my 5 Day Email Course where I outline the whole process.
If you think you are not ready to build a huge site yet, and would rather focus your attention on smaller, niche websites, then you can check out some other popular business models.