Proven Ways to Reliably Generate Passive Income
Passive income is a form of income that requires a decent amount of work and/or financial investment to get started. Once it has turned lucrative, the income source requires little to no work to maintain. In order to maintain passive income, you must produce evergreen content or niche work. What this means is that the work you produce must be relevant for several years in order for it to sustain itself as passive income.
Below are a few examples of passive income that can be achieved with a decent level of work to begin with, but require little to no work once they have achieved a lucrative level of income generation.
eBooks are electronic books that can be purchased for digital devices. For someone interested in earning passive income from writing, publishing eBooks is one of the best ways to generate consistent passive income to help sustain other business ventures. eBooks can be anything from supernatural romance fiction to how-to car manuals for restoring Thunderbirds. The beauty of eBooks is that they can typically be published by the author themselves on sites like Amazon. eBooks will generally not bring in enough income to thrive off of (unless you write a huge best seller, of course), but they usually will generate enough passive income to make it worth while to write them.
Hard Copy Books:
Similar to the earnings from eBooks, publishing hard copies of books will also generate passive income known as royalties. The downside to hard copy books is that they do tend to take more time and more resources to produce. There is the field of self-publishing that you could follow with your hard copies, but that still takes a substantial amount of resources to produce. If going through the traditional publishing route, you will have to search for an agent and publisher who like your book and are willing to work with you. The upside to publishing hard copies is that they tend to generate more royalties than eBooks. They cost more to make, therefore, you can charge more for them, hence how you will be able to earn more through publishing them.
Domain Name Property:
Owning domain names has been a popular form of passive income since the internet started gaining popularity. Excellent domain names are hard to come by, but not impossible to find. If you enjoy working on the web, this might be a venture to consider purusing to supplement your passive income. Domain names will generally not help you to get rich quickly, but they do provide some cushion for those who are pursuing an income primarily based around passive income.
Video Blogging & Video Tutorials:
With the rise of sites like Youtube, it seems like everyone posts online videos about their personal lives. These are usually called “vlogs”, a play on the words video and blog. However, not everyone posts personal videos. In fact, Youtube is known for hosting a plethora of how-to videos, cooking videos, music videos from musicians striving to make it big, and more. If you have a niche that you are well knowledgeable in, and you enjoy being in front of a camera, then online videos might be your key to earning passive income. You can post videos that are educational and relevant to your niche and watch as those videos remain relevant for years to come.
Affiliate Marketing is arguably the oldest and still most relevant method for creating an online income. Basically, you are selling a product or service for someone else and gaining a commission. This commission can range anywhere from 1-2% onwards and upwards to 90% or more. With this type of marketing, the marketer simply connects website visitors to the source of the product they are seeking.
There are many affiliate networks you can join, obtain your unique affiliate links (HTML codes that identifies you as the source) and begin sending traffic to these new links. As you can imagine, it’s all about the traffic. The website traffic to your affiliate links can be purchases (Pay Per Click marketing) or organic (a website with search engine optimization well implemented).
Additionally, you can place text links or banner advertisements (typically provided by the affiliate network) on other websites that you do not own. So, as you can see, you don’t even have to own a website to earn passive income in this manner. You simply need to know the cost of your advertising in relationship to your sales – your return on investment. Tracking your traffic sources is crucial and this has it’s own learning curve. The Pure Residuals #1 Recommended source can provide you with a free website – absolutely no credit card, free domain name, website hosting, Live support and all the training you need to get started. Just click the image link below:
Passive income can be a sustainable form of income if the right level of planning and work goes into it in order to make it profitable. Beginning with one or two forms of passive income, then moving onto another form once your initial ventures have begun generating income, is the best way to build a sustainable passive income career path.