If you want to generate multiple streams of passive income, then at some point you are going to have to get your own website. We suggest that you create a WordPress website. There are two main categories of WordPress–but more details about those later. First, a brief description of the technical side so that you will be a knowledgeable businessperson. We want you to make a good decision.
WordPress is a free online, open-source content management system (CMS) website creation tool. It is based on PHP and MySQL. For some open-source software, the copyright holder allows license holders to study, modify, and distribute the software. Open-source software is often developed in a worldwide collaborative public manner. This explains why WordPress is often at the forefront of ever changing technology.
CMS is a computer application that supports the creation and modification of digital content and can support multiple users working collaboratively. Generally, PHP is an open-source scripting language used to create dynamic web pages; and MYSQL is an open-source relational database management system for processing data in a database.
Therefore, WordPress is the result of this collaborative worldwide authoring. It is a plugin-and-template system which makes website customization extremely easy for the end user. Over 25% of the top 10 million websites use WordPress. Furthermore, it is the most popular blogging system for over 60 million blog websites.
Now there are two categories of WordPress: (1) WordPress.org, and (2) WordPress.com. The important question is: Which one is right for you? Let us outline some important differences between the two.
WordPress.org (you have to pay to host your website with a web hosting company)
1. You own the domain name which you have to pay to register each year.
2. You have complete control ownership and content of your website.
3. You can freely use themes to change the look of your website.
4. You have full access to source code to modify as you please.
5. You can freely use the many free and commercial plugins to customize and add functionality to your website.
6. You can fully monetize your website and have free have any type of e-commerce for your website.
7. You own your website's traffic.
WordPress.com (You do not pay for your free subdomain website hosting.)
1. You have more limited control of your website.
2. The url of your website will be something like, yourwebsite.wordpress.com. You do not own the website domain name under the free plan with ads. You have to pay a monthly fee to remove ads. You have to pay extra to upgrade and to not have a subdomain url as your website address.
3. You do not own the traffic to your website under the free subdomain plan.
So given the above information can you make a good decision now? Do you know which
WordPress is right for you: (1) WordPress.org or (2) WordPress.com?
Let us help you. If you are interested in progressive e-commerce and want a long-term presence on the internet, then WordPress.org is the right choice for you. The website creation tool, plugins, and templates help make WordPress.org websites scalable from the smallest e-commerce website to the largest Fortune 500 company.
The above-mentioned costs for domain registration, web hosting, and other related costs are modest. They are the necessary first steps to multiple streams of passive income. If you have budget concerns, then start saving now so that you can move to financial freedom with online passive income. In a later post we will provide you with information on how to get a WordPress.org website.