Have you ever thought about how to make a passive income from home? Well, if you haven’t believed that it can be done then rejoice! You can make a decent, if not great income from your home (or anywhere else you choose for that matter).
You will have to put in work just like anything else. The only difference is that you get to be in control of your income and you get to decide how to make it. Imagine having the freedom to work where and when you want. Image the security of knowing that you can support your family, no matter what happens at your 9 to 5? Let’s dive in!
WHAT IS A PASSIVE INCOME?
This type of income is generated from ventures and activities that you are not actively involved in.
This does not mean that you get income for doing nothing. No! What it means is that you do work once and get paid for it over and over again.
Wealthy people always prefer passive income over hourly wage, and it seems to work just fine for them. Before you even think of creating any passive income, there are a few things you will need:
NEED FOR AN ONLINE PRESENCE – YOUR BLOG/WEBSITE
Regardless of the avenue you choose to make your passive income, you will need a blog or website.
This is the backbone of it all. Look at it as an online location, a place where people will always find you when they want to read your content. There are two main reasons that a blog or website will prove very useful.
- This is where you get to attract an audience
- This is where you get to post your content (make sure it is both relevant and catchy)
Your content will be the only thing that will make your blog attractive and eventually earn you the traffic you want. Make sure it is very good so that readers will come back for more.
This is where you really need a lot of creative ideas that will distinguish your blog from the rest and make you stand out. Keep in mind that without a site and the traffic that comes with it, there is no chance for earning any money.
Once you are done setting up your site, and you have the traffic required to earn you some cash, you will need to do some additional things in order to earn that passive income.
Here are a few ways to generate passive income.
These methods will ensure that you generate your passive income smoothly without any problems whatsoever.
Take note of each one of them, and decide which one is the best for your taste and style.
You have to align your strategies with your goals. How much would you like to earn? How hard are you willing to work initially in order to set up different income streams?
WRITE A BOOK, E-BOOK, HOW-TO GUIDE
This is a very effective way of making passive money.
If you have great advice, an interesting idea or a unique story you would want to tell, then come up with an e-book.
Are you detail oriented? With a particular skill or knowledge? You can also write a how-to book. These are extremely popular these days. Make sure you have each detail right and on point.
You can then market your e-book or how-to on your blog or website. To entice readers, you can give them a sneak peek through a summary of the same.
Capture the most enticing details and make it as short as possible. This will make the reader drool for it and get it as soon as possible.
You can also put your work on amazon kindle where there is always a huge number of readers busy looking for interesting books to read.
This has the potential to earn you some good money. The best thing about writing your e-book, guide or tutorial is that you will have people buy the book daily and the more it grows popular, the more people buy it and the more the money. This is the definition of passive income!
JOIN AN AD NETWORK AND DISPLAY ADS
This is the simplest way to earn your passive income.
You will need to sign up with a merchant like Google AdSense; it is one of the most widely known Ad merchants on the globe. They will give you a simple code that you will embed in your blog post, and you’ll be all set.
You will then get paid a certain amount of money when someone clicks on the Ad.
If your website has good traffic, then this will earn you some good cash. The only challenge with this method is that you really need a lot traffic to earn anything substantial. A single click won’t earn you much at all, so volume is very essential.
BUILD AN ONLINE BUSINESS – CREATE VIRTUAL PROPERTIES
This is also known as affiliate marketing.
This is where you build a virtual business by entering into a commission agreement with a product owner.
They in turn will pay you a certain commission when someone purchases their product through your website. The commission will vary depending on the product and the product owner.
Don’t worry, the agreement is not very difficult to make. There are networks out there that you can join and then simply sign up to be an affiliate. There is no negotiating commissions involved. The commissions are set by the vendor and you either agree to the terms and apply to be an affiliate or you don’t. Simple as that!
This particular method can pay extremely well so long as you have the traffic needed.
If you can get to the point where you make several referrals daily, you will get to earn a good amount of money.
Your websites are considered virtual real estate. Your website/blog will have a monetary value based on the amount of sales it generates monthly, usually 20X to 30X monthly sales generated.
There is an actual marketplace where you can see and buy websites. If you need a chunk of cash, selling a website is a great way to do it!’
Other than the great commissions, affiliate marketing offer another benefit. You won’t need an inventory and neither will you need to take care of the shipping hassles and costs. The product owner bears the majority of the expenses.
The challenging part is that you will really need to work extra hard before you see any results. It is usually not an overnight money maker but once it is up you will be grateful.
NEED SOME HELP?
Earning a passive income is the current trend, and the internet is to thank for this. If you haven’t started yet then, you need to make an effort and start enjoying the benefits involved. Make sure you set up a website or a blog and start from there. It is very simple but not necessarily easy.
What if I told you that there is help out there? And that the help was FREE?
There is a community called Wealthy Affiliate that will take you by the hand and show you step by step, how to pick a niche, create a website (in 30 seconds), and write amazing content.
This is the blueprint and the boost that you have been missing. Give it a try! You have nothing to lose since it is totally free!
Please leave me a comment below! I would love to hear from you.
To your affiliate success!