In the last post, I talked about passive income and how you can get started with it.
The most important part of the process is to find out which passive income is most suitable for you.
It is also essential to be sensitive to low returns on your efforts.
It is good to set small goals at first to slowly and steadily work your way up.
It's better to approach the stage where you can realistically create a new revenue pipeline and look for the most efficient of the different ways to grow your revenue little by little.
In that case, I'll show you which passive income options are suitable for you and which ones will work best for you.
What is the correct passive income for me?
If you look at YouTube, you will see many people talking about passive income and digital nomadism and saying that it is a must-do.
If you're a beginner, it's a good idea to watch some passive income videos on youtube.
To create a passive income that hits me, you need to understand what methods are available.
For example, I have introduced emoticons sales, YouTube, profitable blogs, affiliated marketing, overseas purchasing agency, consignment sales, e-book sales, and stock investment.
The first step is to find out what kind of business you are looking for.
The next important step is finding a suitable passive income scheme for me.
Several things go into choosing the most efficient scheme, including
Is it in a field that is relevant to my core business?
Will I be able to use my hobbies and skills?
How much time will I be able to invest?
Will I be able to stick with it for a long time?
Perhaps everyone has a different environment and skill set.
You can also use the table below as a guide.
Starting in my area of expertise reduces trial and error and makes it easier to get the most out of what I have to offer.
Although not explicitly mentioned in the table above, 「profitable blogging」can be started with any field.
Blogs are made up of various subjects and are the most helpful resource you can have without any special rules or framework.
Thus, when starting a side job, it is of utmost importance to find an efficient way of doing it based on an objective assessment of the person and analysis of the situation.
Starting in a field that I am good at is the way to reduce trial and error and derive the maximum potential quickly.
Blogs are made up of various subjects with no special rules or frameworks, making them the most helpful resource for writing freely and developing your style.
In my case, I am currently blogging, IT consulting, and stocks.
After two years, I quit my job as a data scientist and live only on my side hustle.
Last but not least, when starting a side job, it is of utmost importance to objectively analyze your skills and situation and choose the most efficient way to do it.
