When I first discovered affiliate marketing, a light bulb when off in my head, Yes! I knew instantly this was the answer I was looking for. After some research, I quickly found combining a few other passive income streams could drastically increase earnings and accelerate financial goals.
These days finding a secure job is difficult, especially when you hit 40, kids, family, bills, relocated to a new country; even if you’ve just finished graduate school it’s not a guarantee for success – Rest assures, there is an easier way.
What is Passive income?
With passive income, you can turn your limited time into earning enough money to replace your 9 to 5 job. With a little investment, research and a good amount of time to learn each method, build then automate. This brilliant self-maintain system could be set upbringing in consistent revenue. Choosing the right Passive income strategies base upon how much time and money you have will eventually secure your retirement.
The most time consuming and resource intensive is Digital Content:
1. Affiliate Marketing tops the list for the most untapped source for generating passive income. You can immediately begin selling other people’s product as soon as you have a platform to sell it on. If you can generate traffic to the company’s products or services, you can generate a commission as a result. This advertising model is becoming popular with the internet, to increase sales and reach as many customers as possible.
2. Blogging is the most popular, having a blog it allows readers to comment and have a discussion. Many online entrepreneurs, they have both a blog and a website, integrating them into a single presence. Blogs are time-consuming as they are updated frequently sharing new content, or business updates about deals and provide tips. The more customers come to your blog, the more likely they are to spend money.
3. Create YouTube Videos is one of the most powerful media. You can start earning money quickly if you have a strong subscriber base. YouTubers earn thousands of dollars in advertising revenue from Google AdSense, a program which targets ads according to site content and audience. Branding yourself, producing good quality content with an edgy personality gives a better shot at attracting viewers. The more engagement such as comments likes and shares your videos, the more you can promote new features, guests’ appearances, live events. Untapped income streams in YouTube are:
Sponsorships, endorsing products when you’ve established a strong subscriber base can shape your viewers’ opinion to buy a particular product.
Youtube Super Chats, is a new way fans can comment and interact during live streams. The creators monetize streaming allowing viewers to pay to pin a comment live. It starts at $1 and goes up, the highest action is launching a Confetti Cannon, and yes, I’m not kidding.
YouTube Patreon, allows fans or ‘patrons’ to pay artists directly for their work. Patreons is a subscription service where a patron pays a fixed amount monthly in exchange for exclusive experiences and behind-the-scenes content. Membership fees for artists are very low and is a great tool to help creators get off the ground and offer genuine interaction with fans. This could be a show of new art collection, provide prints of art, shootouts in videos, all help develop their social skills. The platform is most popular among Youtube video producers, which accounts for fifty percent videos, while the rest are writers, webcomics, podcasters, artists or musicians.
4. Webinars are like combining YouTube and Blogging. Basically, it’s selling content through video series and virtual programs. The webinar presentation is free, to make money there is usually a product offering at the end to move to the next level. This method is mostly conducted through educational institutions. But this trend is slowly moving towards a commercial business model. Most important to show a visual representation of your product during the webinar.
The second choice is if you like the idea of Selling Digital Products:
5. Write ebooks is big business. Selling through Amazon Kindle Direct Publishing or Amazon Self-publishing is easiest and largest way reaching over 89 million Americans. On-the-other-hand, if you want to start making money right away and cut out the middleman, self-publishing is most profitable and much easier. Try Sendowl, they’re great for selling digital products. You can sell directly from your own website and then automate everything. There are many niche markets from personal development to science fiction…the sky is your limit. As long as there are buyers. If your kids want to get involved in earning money online, Kindle Kids’ Book creator is easy to use with simple steps to publish.
6. Create an online Course, offer a free course, then charge for certification. Selling course licenses to companies. This adds professional value and if your already an educator this is an easy way to add to your income stream. You could charge a subscription by creating an ongoing learning program to keep a steady cash flow. Pre-sell courses through an online app.
7. Create a Mobile App, that fills a need and fulfills customers’ expectations in terms of functionality and quality. If you got a dynamite idea! Perfect, the success of your app is the result of how good your app idea is. If you cannot build it yourself, use an App builder, or hire a developer to do it for you. You can generate revenue by paid applications, affiliate programs, in-app purchases, by selling digital products within a specific application, advertising, click ads or encouraging users to upgrade from free to paid. Advertising platforms like Google AdMob and MobFox are most popular. Passive income streams through investment apps: Coinbase, Acorns, Robbinhood, swagbuks.
8. Already have a Website. You can earn additional from adds and marketing by selling your own digital products. It’s a similar revenue stream to Mobil apps with a lot more possibilities. Building an email list and installing an affiliate program helps build your business. Selling services or something is popular, Host webinars, or simply offering membership subscriptions or live training and workshops.
If your goal is to get rich and keep your money, you may want to consider Online Investing:
9. Dividend Paying Stocks is the most secure mode of generating passive income. It’s investing in companies’ stock that pays regular cash or stock payments to shareholders on quarterly, monthly semiannual or annual.
RELATED BOOK: Automatic Income: Your Blueprint for Successful Dividend Investing
10. Index Funds and ETFs, is becoming increasing popular, choosing which one comes down to management fees, transaction costs, taxations, and other differences. Depends on these differences most passive retail investors will prefer the simplicity of index funds.
Other Alternative you may consider:
11. Network Marketing is a multi-level marketing model. Based on a hierarchy process to recruit people for advertising a certain product. Each person is obligated to hire a certain amount of people in order to earn commissions off their sales without having to do much. You can earn passive income through a network by building a team under you.
12. Crowdfunding Real Estate is a new stream for investors. Investors of all income levels gain access the real estate online through crowdfunding. Crowdfunding makes the use of networks mainly through social media websites like Twitter, Facebook, LinkedIn to post about new business and attract investors. Returns vary depending on the amount invested, duration, debt, equity or any additional issues that may occur.
The digital lifestyle or laptop lifestyle is quickly becoming the ideal choice for many today. The great part about a digital life is having the freedom to travel with your family while you earn an income. Starting a business online is becoming more possible than ever before. Discover your new income stream.