Easiest and Best Ways to Generate Passive Income
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1. There are lot of ways to generate passive income. It's automatic. Effortless. But, not in the beginning. You will find it's grueling during start. I liken this to doing the most amount of work for the least initial return. However, over time, as your passive income begins to increase, your reliance on an active income plummets. That's when the real magic starts to happen.However, the option you select has to do with two metrics: time and money. Either you have a lot of time or a lot of money.
2. However, when you lack the money, you need time. You'll need to invest the upfront time now in order to reap the benefits of automatic income later. It just doesn't happen overnight. So don't expect it to. However, you can do this without quitting your day job. All it takes is some sincere effort over a consistent period. But, to get there, you'll need to consistently burn the midnight oil or get up at the crack of dawn.
3. One of the best ways you can create a passive income is blogging. In the beginning there will be no income. But, over time, you'll start to generate an income from that blog. Eventually, it will snowball. Potentially, it could earn you six or seven figures per year, sometimes even more.
4. There are some basic steps you'll need to take before you start a blog. Don't just rush headfirst into this without planning first. Blogs in the following places make the most money:
b. Tech related blogs/ FB Page.
c. Dating and relationship related blogs/ FB Page.
d. Fitness and Diet related blogs/ FB Page.
5. However, you should pick a niche and blog about that. If you're launching a money related blog, maybe it'll be about how to make money in real estate or simply how to make money online. Pick the niche and stick to it.
Launch an Automated Webinar
6. Webinars are absolutely crushing it these days. If you're looking to create a serious amount of passive income, consider launching an automated webinar. However, before you do that, make sure you do that webinar live every single week for a year. Once you've got that webinar converting, automate it.
7. Some people take it automated well before the year is up. When it converts, it converts. If you target the right people and you're able to create the right message that appeals to your audience, you might just hit a home run. An automated webinar often involves the creation of a webinar funnel. That includes, not only the webinar but also the email sequences and possibly a self liquidating offer and may be some done for your services and up sells. It's not as complicated as it sounds. There are lots of things to keep in mind when building out a webinar. It's not a simple task. But, when it clicks, it's a proverbial money making machine. Not only do you make money fast but it's often more than you had ever dreamed of.
8. Another best way to generate a passive income is through affiliate Marketing. Build a list in a particular niche and tell them stories. Create a bond. Build a relationship with them. It's important. Then, when you've created a bit of culture, start marketing affiliate products or services to them that you think they might like. Just be sure that you personally vet out whatever it is that you're selling to avoid complaints if the product or service falls short.
9. And if you're wondering whether you need a blog or a website to build a list, you don't. You can use sites like Medium or Quora or Linkedin. Publishing, and place a call to action to join your list. It's as simple as that. Build up quality content and invite them to join your list. Then, start marketing to them.
10. Ebooks are imp and easy sources of passive income. Now, you can do this the simple way and just publish it on Amazon''s. Or, you can go all out and build yourself a book funnel. Book funnels are powerful, but they won't be fully passive. For ex, if you do a free plus shipping offer for your ebook converting it into a physical book, you'll need to create some one time offers (extra training) and up sells (audiobook). But, a book funnel can be very powerful.
11. But, you don't need to go further than that. You can simply write it and publish it and collect the income. That's all. Send out a couple emails to your list or post it on social media. Now, the amount of income you receive depends on the quality of the book you've written. How well did you craft the message? How targeted was the info to your audience?
12. If you want to take it a step further, you could easily create that ebook into an audiobook using the Audible platform. You can either produce the audiobook yourself or hire out a producer to do it for you. You can either pay them a flat fee or a royalty from the proceeds of the audiobook.
Build an Information Product Funnel
13. Sale funnels offer the highest potential for income on the internet. It's really powerful. When configured properly, they can also easily be scaled. You will need to understand a thing or two about Conversion Optimization. And, possibly FB ads. But, you can source out whatever confuses you. The difficult part about building an information product funnel is coming up with the right hook. There is so much competition out there that virtually everyone has just about done every type of product or service. The goal is not in recreating the wheel. You simply have to model what's working without coping others.
14. Find something you can sell that will entice enough people. In other words, pick a hot market. What are people buying up? Is it something diet related? Is it money related? Find what's working and build out a better version of it without actually copying it. Add value to it and watch as the money comes rolling in over time.
15. One of the most widely available ways for making money is to drive for Uber or Lyft. The sharing economy has quite literally exploding, and both Uber and Lyft are at the forefront. You can turn on and off your availability through these networks with the simple click of a button, effectively allowing you to make money no matter what time of day or night it is.
Manage Social Media for Small Businesses
16. Many small businesses need a social media manager and simply don't have the time nor the expertise to be constantly posting on social media platforms like Facebook, Youtube, Instagram, Linkedin, Pinterest or Twitter. Take it upon yourself to contact local businesses and offer up your services for a contracted monthly fee. This is an easy way to make money no matter where you live.
Sell Services on Fiverr
17. Fiverr helped give birth to the Gig Economy. Although services start out at $5, some Fiverr sellers are earning six figure plus revenues annually. You can sell just about anything on this platform. But to succeed and become a Best Seller, you need to deliver massive amounts of value, even at those lower price points.
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