5 Passive Income Streams You Can Set Up From Home
If you have arrived on this page it is because you are looking for a way to set up some passive income streams to supplement your income. It’s important to point out upfront, that passive income streams do actually involve work! You need to set them up properly and then maintain them or the income stream will either never take off or simply dry up. The good news is that after the initial push it becomes very easy to maintain multiple passive income streams and they do indeed become mostly passive with just minimal input needed.
The great thing is that the internet has made it easier and easier to make solid passive income. People are spending more and more time online. They go online to do their socializing, shopping, research, etc. You can capitalize on this phenomenon and here are just 5 of my favorite ways how:
Top 5 Passive Income Streams:
1. Affiliate Marketing
This is the most popular way to make money online. You make money by selling other people’s stuff! This can be done via a website (like a blog) where you review products you like and provide a link to the product. The link is tracked back to you and if someone purchases the product you make a commission of often 50%+. It will take some time to build traffic to your site, but you can either purchase articles or write them yourself and use a good Article Marketing Strategy to drive traffic.
The latest trend in affiliate marketing is to build a list of subscribers to your site (to do this your site must be targeted to a particular niche) and then email them with info they would be interested in, every now and then include links to your products. You can also make videos promoting products. You can expect this to really take off from about 90 days of consistent work (about 1-2 hrs a day).
Again this involves building a high-traffic website. In this instance you focus ENTIRELY on content. You simply produce content that people would be interested in and then have strategically placed ads on your site (again, I recommend a blog here…if you don’t know how to blog check out the How to Blog Tutorial). This is like selling billboard space. You can either charge a set rate for advertising space, or use pay-per-click networks like Google Adsense. The pay-per-click networks will pay you a small sum everytime someone clicks on one of the ads on your site.
This strategy becomes more lucrative the more popular your site becomes. Again, you will want to use article marketing to drive traffic to your site. To build up a decent income doing this will take about 6 months to a year at least. You might consider combining this with affiliate marketing to maximize your results.
3. Membership Sites
Honestly these sites take a bit more work. You basically target a niche topic that people are interested in. You fill a site with great content and people subscribe to be a part of it. You have to keep it updated with expert interviews, articles, etc to keep people paying. The good part is the people pay every month so your income tends to go up and up and up. You can get one going fairly quickly if you do a joint-venture with someone in your niche who has a big list. You get them to advertise your site when you launch it and then give them a commission from anyone who signs up using their link. If you do decide to start a membership site you will need Membership Site Software, here’s my favorite membership site software review site!
4. Continuity Programs
This is a blend of two passive income streams, it’s affiliate programs mixed with membership sites, only this time you aren’t running the membership site you are advertising it. You are using your link to earn commissions when people sign up to someone elses membership site. This is one of my favorite ways to make money because you keep earning from the same sale month after month and you don’t need to maintain a site to do it! This like affiliate marketing can take 3-6 months to really build a solid income.
5. Network Marketing
This is my absolute favorite of the passive income streams. In network marketing you are promoting a business opportunity and selling products for a network marketing company. It’s a bit like affiliate marketing except that you make money from your sales every month and you also make money from the sales of people you brought into the business! This is the best way to leverage yourself FAST because you aren’t just relying on your work but the work of others. You can build a solid base for your business in about 3 months and make your income truly passive in just 6 months.
There are many other passive income streams, but these are the most reliable for actually earning you money in a steady and honest way. You just need to make sure you are providing people what they want when they want it, and not becoming a pitchy salesman and you can’t go wrong.
The best way to develop passive income streams is to leverage yourself by using the same strategies and systems that have worked for countless others! You need to understand what it takes to drive traffic to a site and how to capitalize on that traffic.
You will need to start by viewing the Government Approved Facebook Money System presentation (just viewing it will give you email access to a bootcamp that will teach you how to drive solid traffic to any website using free methods!)
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