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Tuesday, 16 March 2010

How to Find Ways to Earn Passive Income

  1. Passive Income is most easily defined as money made without effort. In the communication age there are many opportunities to create passive income for yourself and this article will assist you in finding ways to earn money with minimal effort

    1. Begin by evaluating your current situation. Do you have specific knowledge that people would pay for? Do you have a source of capital to begin a venture? Is it realistic to spend alot of time developing your revenue streams? Without honestly answering these questions you will be out chasing the next new fad and will never achieve success.

    2. If you answered yes to the question regarding knowledge that people would pay for ask yourself how you can use this knowledge. If this is an elaborate amount of knowledge such as how to repair every problem in a home or how to achieve a chiseled physique you may consider writing a book in your free time. This is a much more viable option now than ever before due to the availability of books for download and other online options for delivery to the public.

    If your knowledge is more broad than these examples consider writing article such as this one. While it requires less in-depth knowledge and specifics, it also does not include the marketing headaches and platforms such as eHow gives you a certain level of instant credibility.

    3. If you have a little capital and the ability to write insightful articles consider your own blog. While this is the flavor of the month in some respects it is possible to make money if you can write knowledgeable and entertaining content. Viewership typically grows exponentially so it will take time but knowledgeable, entertaining writers will always be discovered over time. You can find many blog sites for free such as blogger.com until you are ready to make a minimal investment to customize your site.

    4. Do you have an idea for an interactive site that can draw internet traffic? This is the golden egg as it requires little to no maintenance. If you have a blockbuster idea such as Facebook or the Action Hero Club you can develop your platform with upfront costs and then just worry about the marketing of your idea. This is ideal.

    5. I know, I have not given you any specifics for developing income streams. Through continued research I have found the best resources depend upon your current situation. As your blog or website is young you will need to rely upon Google Adsense or a similar tool to provide you with minimal income. As you grow you can turn your growing traffic into affiliate traffic with much higher revenues. You can work out agreements individually with vendors or turn to companies such as Commission Junction to allow you to partner with name brand products for commissions that range from two to fifteen percent of sales. If your traffic will purchase products with your logo utilize resources such as Zazzle to create revenues until such time you can produce products in-house. Want to recommend books or music? Become an Amazon affiliate.

    6. As is always the case, you must have a marketable product, however with the growing of the information age this product can be your knowledge base. I hope this article at least laid out the basics of how to position yourself to capitalize on the current information age and will help you create at least a small, beginning revenue stream until you can develop a following where demand continually exceeds the supply of your product.

    (Source: ehow.com)

1 comment:

  1. Hi, fabulous post, thanks for sharing. Would you please consider adding a link to my website on your page. Please email me back.

    Thanks!

    Hailey William
    haileyxhailey@gmail.com

    ReplyDelete