How to Create Streams of Passive Income Online

August 6th, 2017 Leave a reply »

Recently, we’ve been learning all about how to make money online as freelance writers, designers, assistants, website designers, and more. As good an opportunity as these are, they all have one problem; every single cent is earned. Essentially, we mean that there’s no passive income and that a week break on holiday yields no income.

The Solution? – If you’re looking for ways to keep the money rolling in even when you aren’t working, you need to set up multiple streams of passive income. Once the products/services are created, you continue to earn money over time without contributing and this can be found with eBooks, CDs, online guides, and even affiliate links on your website. Below, we’ve provided all the information you need in more detail;

Audio Products – With the advancement in audio devices in recent years, audio products have captured the imagination of the consumer because people can listen to them whilst on-the-go. Whether you choose an instant download option, a CD, or both, they can earn you money long after creation as long as it contains an interesting topic or guide.

Digital Products – By now, you should know exactly what your customers are looking for so can you supplement your service with a digital product? As long as it doesn’t take away the need for your actual service, you can turn key information into a sellable product to keep the pennies rolling in.

Workshops – Rather than teaching one-to-one, workshops can teach several people at once and this allows you to increase income whilst reducing costs.

Teleclasses – Nowadays, there is an audience for coaching over the phone. Since people still like talking to experts directly, you can have a consultancy service at a lower price than your full service. Over time, you can turn the most frequently asked questions (and their answers) into an eBook, podcast, and many other products.

Affiliate Programs – As mentioned previously, affiliate programs are also incredibly successful. In truth, there are two ways to proceed here and it depends on the stage of business you’ve reached. If you’re still quite early, you can advertise the products/services of other companies while earning a commission from each sale made.

If you’re a little further into your journey and already have a solid following, you might be able to start a program of your own. Whenever people refer customers to you, they get a small cut but you enjoy the fact that customers are buying your products who wouldn’t have been without the affiliate marketers’ help.

Summary – Nowadays, the opportunities to earn passive income are wide and varied. Normally, the most successful ideas are seen when you spread knowledge people otherwise wouldn’t know. If you have expertise in a particular topic, be sure to use this rather than putting out content that anyone could find with a simple Google search. If the eBook or audio product is unique and genuinely helpful, there’s no reason why you can’t enjoy success!


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