How To Start A Website In 10 Minutes: Best Passive Income Generator
The US Census Bureau released data on business applications. It may come as a surprise to many that the year on year percentage change for applications was the highest this year.
Even if you have not lost your job, recessions are a great reminder to develop alternate income streams. You might have done your best at improving your human capital. But if the company is in trouble, even top performers can’t survive.
Why Start A Website
When we evaluate the various assets to own; online business is the best due to the risk/reward ratio. The low cost to start an online business coupled with the opportunity for passive income make it an ideal diversified income source. Besides you can avail of several tax exemptions and live in a low cost country/state to make it even more profitable.
Given the digital economy, more and more of our world will be moving online. Automated tools make it easy to start a website in 10 minutes with zero computer programing skills.
In the initial phase, setting up a website or blog is considered active because you need to produce content. But, the internet provides infinite leverage in terms of audience. The content created once can be sold over and over again; with no extra cost.
Contrast with a physical business where you have ongoing manufacturing costs to generate extra sales. Also, the one time effort to create content pays off in the long run. You no longer need to create new content. Marketing the already created content will result in a passive income stream for the future.
Experienced Edward – The CPA
Consider Edward who is a CPA. He provides tax advice to his clients.
Once the initial work of writing is done; he can publish his book and collect passive income for the rest of his life.
He can also use the website to establish himself as a tax authority and get invited to conference. As a published author, he can charge high speaker fees. Speaking at a one day seminar, he can earn more than what he would make as a CPA for the entire tax season.
Based on his website he can market himself as a consultant to firms offering real estate crowdfunding. He gets paid for tax advice not only by regular investors investing in real estate deals but also by real estate syndicators who want to structure the deal correctly.
Expert Edward has leveraged his website to not only generate passive income but get paid more on an hourly basis. As a result, his net worth would increase much faster compared to other CPAs who did not take action.
For a real life example, consider Amanda Han. She used to publish blog posts on Bigger Pockets website. Now she has books on Tax Strategy for Real Estate Investors . Her second book was recently published building up on the popularity of the first Advanced Tax Strategy for Real Estate Investors.
Beginner Betty – The Herb Enthusiast
Betty has always been interested in developing her herb garden. The pandemic work from home arrangement coupled with the lack of social outings; gives her enough time to get started. She reads a few blogs and starts experimenting on her herb garden. Gradually, she becomes good at it and her friends want to learn from her. She posts her herb garden pictures on Instagram. Strangers from the internet now marvel at her green thumb.
Betty can start a blog and publish her tips and tricks. She does not have formal education like David the CPA; but results matter.
She is also not an expert at gardening; but people want to learn from someone who is only a few steps ahead of them. They do not need an award winning botanist. The expert would use industry jargon which would be hard for newbies to understand.
Betty on the other hand, would have gone through the same challenges as the newbies in the recent past. She can relate to them and give them helpful tips and tricks.
Who Should Start A Website
Everyone should start a website. Whether you are a beginner or expert in your field or somewhere in between. Both Suze and Edward have shown that you can share your knowledge with others.
Your website could be based on your day job or your hobby or a combination of both. Simple “tips and tricks” and “how to do xyz task” which come naturally to you; are totally worth sharing.
The beauty of the internet is that information you create will always be useful to some stranger. And gradually you would start building your true fans.
Skills Needed to Create A Website
The good news is that you do not need any fancy skills to start a website. One click install and drag and drop features now make it much easier than ever before.
Creating websites no longer needs any computer programing skills.
Step By Step Guide To Build A Website For Beginners
I have listed all the steps which will help you start a blog or a website in just 10 minutes with no coding experience needed.
Pick Your Web Hosting Company
I am a firm believer in eating your own cooking. This website you are reading is hosted on Bluehost. So it should be no surprise that I recommend them for beginners.
Click my Bluehost affiliate link to get started. It provides a one click WordPress install and free SSL certificate.
Select Your Package
Ignore the Recommended option and go with the Basic. The basic package for only $3.95/month is a good starting option. As your audience grows, you can always upgrade.
One of the best advantages of having an online asset like a website is that the upfront costs are negligible.
Choose Your Domain Name
Domain is what your users type in your browser. For example, FinancialFreedomCountdown.com is my domain name.
- I always recommend using a .com domain compared to the .net or .org options.
- Ensure that your website name is easy to pronounce and spell.
- Avoid using special characters such as underscore, hyphen, etc.
- Add keywords in your domain name.
- Make it unique and brand recognizable.
Considering all the above tips I would suggest your website name should be a combination of the topic and your name. So, Betty can register gardeningwithbetty.com. Edward can use SaveTaxeswithEdward.com.
Do not get too hung up on trying to decide your domain name. Your audience will come to your website and keep returning to it as long as you provide valuable content.
Package Extras
I don’t recommend any of the extras at this stage except the Domain Privacy. This option is important so your privacy is secured online.
And voila! You are the proud owner of a website.
Login to your brand new website and install WordPress with one click. WordPress is the content-management-system (CMS) powering most of the websites on the internet.
Select A Theme
A theme displays your content visually to the user. Your Bluehost WordPress installation will come with several popular free themes included.
Don’t worry which exact theme you select because you can change it easily at a later point. My earliest readers will remember my website looking different a year ago. The new look is because I changed my theme.
My recommendation is to start with the default Twenty Twenty theme. Or install Generate Press if you want to get really fancy. Advantage of Generate Press theme is that it is mobile responsive (ideal for mobile viewing) and fast.
Final Thoughts On How To Start A Website
An online business provides diversification from your other income streams. You can start today as a side gig without interfering with your main income source.
Due to the low cost to create a website; your downside is limited compared to starting a physical business.
Pick a topic or niche related to either your day job (so you already have the skills). Or your hobby so that your passion will continue to inspire others.
Start a website in 10 minutes and continue posting at least once a week. Grow your audience and develop your true 1000 fans.
After the initial work on generating content in the form of e-book, blog posts, courses etc.; your website will be one of the best investments for monthly income
Online business is also tax efficient when you can live in any location and still earn in USD.
Readers, have you considered starting a website? What is holding you back from developing an extra income stream?
And if you have taken action; drop a link to your website in the comments. You might get quite a few new readers!
John Dealbreuin came from a third world country to the US with only $1,000 not knowing anyone; guided by an immigrant dream. In 12 years, he achieved his retirement number.
He started Financial Freedom Countdown to help everyone think differently about their financial challenges and live their best lives. John resides in the San Francisco Bay Area enjoying nature trails and weight training.
Here are his recommended tools
M1 Finance: John compared M1 Finance against Vanguard, Schwab, Fidelity, Wealthfront and Betterment to find the perfect investment platform. He uses it due to zero fees, very low minimums, automated investment with automatic rebalancing. The pre-built asset allocations and fractional shares helps one get started right away.
Personal Capital: This is a free tool John uses to track his net worth on a regular basis and as a retirement planner. It also alerts him wrt hidden fees and has a budget tracker included.
Streitwise is available for accredited and non-accredited investors. They have one of the lowest fees and high “skin in the game,” with over $5M of capital invested by founders in the deals. It is also open to foreign/non-USA investor. Minimum investment is $5,000.
Platforms like Yieldstreet provide investment options in art, legal, structured notes, venture capital, etc. They also have fixed-income portfolios spread across multiple asset classes with a single investment with low minimums of $10,000.
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