MAKE YOUR OWN PASSIVE INCOME

What is passive income, why does it matter?

Passive income is money that you work hard for at first but then don’t work or barely work on it and it still brings you good revenue. You start to generate passive income when you begin investing money. Always remember, that you have to get to the point of generating passive income by firstly earning money, which you can secondly manage, and thirdly invest, to make passive income.

Wouldn't you like to take a vacation whenever you want, orhave your wife stop working so she can look after the kidsand still keep up the payment of your bills? Well, if you wish to achieve this, you need to build a passive residual income.

There are more but let’s focus on the “why” behind passive income. Passive income is the secret to having free time, freedom and financial worries go away. All that? So why doesn’t everyone do it? The work up front to get started with one of the above methods usually deters most people. They don’t feel like they can write a book or start a new website. They don’t own property. The one thing that all passive income relies on is ASSETS.

Assets are things you own that you can make money from repeatedly and without very much work. Whether your asset is physical property (land, apartment) or intellectual property (copyright to a book or song) you can trade that asset for income over & over at very little work or cost to you. Setting up one revenue stream is a start - setting up multiple is a necessity if you want to get away from “real work” and move into a more free life.

However in this article we are discussing creating a passive income online. Investment of time and money is initially required to build a passive income online, then possibly minimal work thereafter. We try to build our ASSETS from The Internet or it’s usually call “Bussiness Online”

1. Affiliate Programs

passive income is derived from setting up a web site that presells a companies’ products.The parent company provides the products, tracks the sales and gives you a commission for each sale. Find companies that offer large commissions, and will track clients for multiple sales over a long period of time (ie lifetime) so you can get recurring commissions. Make sure they offer multiple tiers (at least 2) for sales. ie you still get paid if one of your affiliates makes a sale.

2. Advertising commissions

if you have a web site thatattracts 1000s of visitors a day from the search engines,you can offer to place a banner or link on your site for afee that you collect each month. You set it up once, then collect the passive residual income.

• Newsletters,or ezines

offer advertising space in your ezine. The greater number of subscribers you have the more you can charge every time you publish.

• e-Books

offer advertising space in your ebook. Give theebook away for free or even place links in it from affiliate programs you recommend.

• Google AdSense

place Google Ads on your web site. When someone clicks on the ad, you get a commission for everyclick. If you have 100s or 1000s of pages on your site, you can earn a substantial monthly income.

3. Pay Per Click Campaigns

you can make money instantly by setting up a Google AdWords campaign for your product or affiliate program. If there are not too many competitors promoting the same product and it is in high demand, you can earn a good passive income. Creating several successful campaigns will multiply the amount you can make.

4. Create a membership site

if you are an expert in your field and can provide the resources, knowledge and support, you can charge a monthly fee to gain access to your membership site. The more members you gain, the more money you make. Because you are an expert in your field, you can also recommend other products and services to your members,from which you earn commissions.

5. Become a Reseller

by reselling other people's services you can earn ongoing residual income.One such example is web hosting or domain name registration. You pay a monthly fee to the reseller and you can charge whatever you like to your customers for your service. Of course you must be thoroughly familiar with the service to provide the necessary support to your clients.

Conclusion:

Building multiple passive income streams is agreat way to secure yourself for the future. You never know if you will be laid off from your regular job, get too illto work, experience a disaster or want to start saving foryour retirement.Choose one of the above types of passive income streams and take action now, to secure your financial future.

Over the next year I’m going to follow my passive income sources closely and try to build a passive income that will let me do less “work” and more “life.”