I have talked about passive income a few times on my blog. There are so many ways that you can have passive income coming in. We will talk about some of them today.
What I have been learning from all the rich entrepreneurs that you should have many income sources coming in. Never depend on just one. If that one fails than you have others to fall back on to help pay your bills. I agree with this 100%. Let’s look into a few sources today.
I have talked about selling digital products a few times. I am trying to work on my own digital product to sell, but that takes time. That is the real definition of passive income. Doing the work up front then your able to sit back and collect that passive income. No matter what it is you want to do for passive income. All requires upfront work to be done to reap the rewards later. Just like with our blogs.
To know what to make for your digital product that is easy. You want to find out look at the pull down menu on the left and do research. You can narrow down your search to the product and lets say you want it to be something very popular. So you want to see which ones have 200,000 downloads or more. Once you narrow down your search you should be able to find out the most sold items and that will tell you what you need to make for your digital product.
If you don’t have any digital product or don’t know how to make a digital product then there are many you can choose from online. They are called PLR products. However you can not just download a PLR and upload it. This is where you need to use a little of your own creativity and change the e-book or what ever you have downloaded and make it your own. Each page should be changed, just use that as a guide, an idea of what to write or what direction to go with the ebook that you make your own out of that plr product.
Medium is another great way to make passive income. This one is just like your blog and you need to put the work up front. I already made more money on there than my blog. Medium pays month after month for things I wrote a few months ago. As long as your stories are still getting read then your income will still be rolling in. Update with a new story and there are you if the story is liked, passive income after that. Just like I said, need upfront work to get that passive income. Please come join me read the stories I have written. I write more personal stories there that happened in my life. All true stories. Join me here. There are a lot of good stories about making money on there also. All in all great place to read and learn and make money.
Next one I think a lot of us know very well… Making a blog. This is highly passive after time. I know this one does take time before it starts to bring money in a passive way. But after a while you may only need to blog once a month if you want or maybe once a year. It is all on you when the money from all your past posts just starts rolling in and you don’t really have to do a thing. Just make sure your doing SEO so your posts can be found for a long time with the words they are searching are the words in your post.
Royalties, I didn’t know this, did you know that you can buy royalties to songs or books and everytime the book or some makes money so do you. I just realized such a thing existed. I heard of royalties of course, from your own book or song. Just never knew you could purchase the royalties from someone else’s things. Guess it would be no different then buying a steak in a company.
Few ways to make passive money offline but you can make it partially online. Let’s start with renting out a space. You can advertise your space online weather it is a room you want to advertise on airbnb or rent out your garage. There are always people who need extra storage space.
How about start a store and sell items that you will purchase from china and sell for the normal prices here in the usa. All you have to do is add the shipping information or send your item to amazon and they do the shipping. All sort of different ways you could do this one from what I have been seeing.
Well that is all for this post today. I am going to listen to Mike Vestils webinar. If you want to learn to make money I suggest you join his webinar he has them I think everyday. He says he has a 62 year old woman went from zero to 160 grand from this method. Go to his blog and you can see all the ways to make money on his site and find out when the next webinar is, and sign up for the one you’re able to be in.
That is it for today. Gonna get into this webinar that has already started. Happy Thanksgiving for those who are celebrating. Have a great day or night and please…stay safe.