[dropcap]A [/dropcap]passive income is one that comes from having developed an asset and obtaining an income from it. In the beginning, depending on what the asset is, you will need to nurture it, it may be time intensive, some of them, ( although not the ones I will be sharing) will be capital intensive, e.g real estate, algorithm investments, etc, they are all things that can generate an income and it will depend on the type of resource you have.
1. Write an ebook.
Write a book, publish it electronically and sell it. You can sell it through your own website, or offer pay a commission to others to sell. If its really good it could get picked up by a publishing house and then thats a different income level altogether.
2. Affiliate Marketing
Get a blog, write about stuff, put links to the stuff, and get a commission off the sale. Ok that is putting it rather simply, you would have to build up popularity on your blog, and this can take a while as people have to get to know like and trust you. You would make an account with a vendor, and they would pay you a commission if a visitor to your sites purchases something via the link on your blog.
3 Network Marketing,
This is a method of direct selling, where you keep the profits and also get commissions on the sales of people that you recruit. This is quite intense at the beginning, but if you build a team deep enough, eventually you will have a large residual income.
4. Make a youtube Channel
If you have a passion that you can make videos about, then this would be for you, This is similar to affiliate marketing in my view, create a youtube channel, and open an adsense account. These ads would play at the beginning or sometimes they are laid over your video, but when people who are viewing the video click on the ad, you will get paid a commission.
5. Create a website that sells things by drop ship.
Now you could sell your own products, on a website, but that would involve a good deal of upfront expense on top of getting people to know, like and trust your website. With drop shipping, you do not purchase any stock and the manufacturer will deliver the goods.
These are the type of opportunities that are quite intense at the beginning, but they are the type, that really means that you get out what you put in. The only limits are the ones that you place on yourself. In terms of companies to do affiliate marketing with or to be a distributor with you need to be aware that they all have their own particular terms & conditions. I have plans to do a full review of network marketing in a future post, but if you would like to see my review on affiliate marketing, from the point of an opportunity please click here.
These are not the only ways to create a passive income, but they are ones that I think are relatively easy and offer the least risk.
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