Passive Income is one way to make money that as we see it, is the best approach.
The definition by wiki is Passive Income is an income received on a regular basis, with little effort required to maintain it.
Sounds pretty simple but is it that easy?
Since you are reading this on the internet we would assume you are online looking for a way to make extra money or even a full time income, so we will tailor this article towards “online” type of Passive Income ideas.
Keep in mind that there are many passive income methods that have nothing to do with working online or starting an online business that may be as lucrative or even more so.
Some offline examples of passive income are interest from a bank account, royalties from a book published, rent from owning real estate properties, pensions, dividends and interest from various stocks or other accounts.
As you can see many of these ideas likely required someone to have invested their time and money to build up enough of an account or property or stocks to develop an interest or income that can be taken passively from these sources.
However once built up, one can set back and relax and enjoy life.
Getting back to online ways to create passive income, here are a few top ways to grow an online business that can earn you a passive income:
1. Blogging- blogging is about creating a blog about a certain topic, then creating quality content posts to that blog which tends to draw traffic to the blog and in turn in time, that traffic could buy items displayed at the blog, thus creating a passive income level. This can take some time to build enough content and to select the best niche to blog about and of course you should have some knowledge of the topic if you plan to be the writer.
2. Affiliate Marketing- This is where you as the online marketer sells other peoples services or products or your own items and you earn a percentage of the sales. Whether you own the items sold or you are an affiliate selling other items you earn a piece of the total selling price. If you set this up on autopilot where you keep advertising, and making sales, you will have a Passive Income. The same will happen if you create the product or service and many other affiliates sell your stuff. Which do you think is more of a Passive Income?
3. Email marketing- similar to the affiliate marketing, you can grow a list of subscribers to your list, and as you develop a relationship with this list you can sell items to them that may help them in their tasks online, depending on your list originally came from.
4. Niche Websites- as like a blog you can create niche websites, perform SEO (search engine optimization) to get free organic traffic and again sell items to that niche. You can also set up paid traffic if the return on cost is profitable.
5. Website services- every website needs as lot of efforts to keep it with traffic and sales. If you had the skills you can develop a list of customers who need domains, hosting, SEO, content writing, website changes and updates, all of which can create a Passive Income for you.
The bigger you grow your traffic or customer base, the more Passive Income in your wallet.
As you can see, there is an enormous list of things one can do to create lifetime Passive Income if you are willing to put in the efforts to build it.
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