If you are looking to find a way to create passive income, look no Furthermore Here are 3 easy ways to create passive income.
What is passive income?
Passive income is income received on a regular basis and can come from several sources, including the more traditional methods such as land purchase, property and stocks and shares. However, even if these channels can indeed create a large reliable passive income, they can be very expensive. So there are easier ways to start creating passive income, especially if you are on a tight budget? Here are three easy ways for you to consider.
1. Creating a Product Information
Let’s face it, most of us know something; Whether it’s a hobby, sport or even every day doing housework. It’s just a case of turning the info in your brain in cash. So what is the best way to go about it?
The Internet is now the largest encyclopedia there, so it will not be surprising to discover that one of the highest research start with “how” to do something. At one time or another, most of us need information about something.
The best way to make money is to create an information product that provides an answer or a solution to what people want.
This can take the form of a CD, DVD or even an eBook. The great thing about this type of product is that it’s cheap to produce and can be sold for a price determined by you which can be anything from £ 5 upwards.
You can even take things a step further by making a set of two or more items. For example, a DVD and eBook. This will result in you being able to charge more for your product as the perceived value will be higher. You will now be able to charge anything from £ 67, £ 97 or more.
So how can sell information products create passive income for you?
To create a passive income, you will need to have a front end (product cheap) and a rear end (more expensive products).
Information products mentioned above will be your final product before and have been placed in your sales funnel ready to sell up to these customers later.
To create a passive income, you will need your final product back to being a product subscription type, that is something that a person has to make a regular monthly payment.
An easy and effective final product subscription back that you can use is to offer individuals the opportunity to purchase licenses you for the sale of products such as DVD. This in effect means that, for a small monthly fee, they can rebrand and re label a product to sell their own product.
If you do not want to sell licenses for your own product, then you re buying platinum selling licenses that allow you to sell licenses for other people’s products for a monthly subscription.
To find these types of licenses, just search on search engines or check your spam folder as often there will be some great products out there that you can buy a license.
To allow you the best chance of success, it is better for you to buy and try the product yourself to make sure they actually work, before offering to buy the license.
How much does a platinum license?
In general, you should offer about 10 times the retail price of the product.
The great thing about selling information products is that you can buy low and sell high making a huge profit in the process.
2. Creating Membership Sites
A membership site is where someone pays a subscription to view your website. This is different from the sale of information products in that instead of simply receive a single payment for a DVD or eBook, you get instead of a monthly payment of the offset. This is why it is one of the most intelligent passive income ideas there.
Imagine … Just register 500 members at £ 10 per month will provide a passive income of £ 5,000 per month!
The content of your site can be text, audio or video.
You simply need to decide on a topic or niche for your membership sites. Some examples include recreation, sports, health, special skills or even start a business.
You must then provide advice, training or tutorials within your site that offers valuable information to your members.
Free tools like Google Trends offer a great way to find out what is the most “in demand” including;
• What is the size of the market is, there are more than 30,000 searches per month
• How competitive the market is, how many ads and existing websites are there for this niche
• There will be a good return on investment for your members
If you decide to create a passive income by creating a membership site, there are some great software out there that will get you started.
3. Creating a line down
There has been a lot of negative press about internet marketing. It’s sad, because there are many authentic internet marketing opportunities out there that can truly offer an easy and affordable way to create passive income.
Internet marketing is a numbers game. If you have a great product (s) then sell the achievement of numbers is easy.
As with the opportunity information products, success in internet marketing relies on having a good product front and rear.
If your final product before is low cost and it works, then up to the sale of products at a later stage will be easy you have already earned the trust of your customer through your final product before.
So how does Internet marketing create passive income streams?
The great thing about internet marketing is that even if you do not have a product of your own to sell, you can sell affiliate products instead. Some online opportunities are now even offering 100% commissions, is like selling your own product.
People are always looking for ways to make more money. Therefore, if your product is good and offers a good profit or commission, it will not be long before your customers will ask you how they too can make money by selling products by joining your team.
So how does this create passive income for you?
It depends on the online opportunity you join. Some offer a commission for what your down line sells, while others offer a residual income you pay a monthly fee for each month that your member continues to be active. Again, there are online companies that pay 100% of monthly commissions.
So if you are looking for easy ways to create passive income, then these are what I personally consider three of the most intelligent passive income ideas out there right now.