Benefits of Passive Income
Making money while you’re on vacation? Gaining revenue in your sleep? Sounds like something too good to be true! Passive income is a way for you to make money after your work is done. It’s the perfect employee; a product that pays itself and keeps on working. Think royalties from books or movies, though you put in the work for only a window of time, these projects are going to surpass your finish date continuously earning you money.
Now many of us aren’t movie stars or best selling authors, but thanks to the world wide web and the immense audience it brings, passive income is something that anyone can partake in. Today we’re going to break down the basics of passive income through key outlets such as blogs, Youtube, and eBooks.
Curating a Blog
Gone are the days when blogging was reserved for new moms or misunderstood teens. Curating and writing a blog is a great platform to build an audience and make some money. Many bloggers gain revenue not only through site visits and advertising, but primarily through affiliate marketing. Providing your audience with referral links to the products you endorse or are speaking of in your blog helps you gain affiliate commissions. Not only are you able to provide your viewers with information on things that you’re really into, but now you have the chance to pair with other companies you love and work together to make some cash.
What’s the catch?
Patience is a virtue, and blogs take time to get rolling. The sooner you start the more content you’ll have to build up your audience. Blogs take time, but once you’ve got it going it is very possible to make high passive income.
Youtube & Video Content
What would we be without Youtube? This massive video streaming source is home to millions of videos with all different kinds of content. We have all heard of the Youtubers who have made big money from their views, but Youtube is actually so much more than just a source of entertainment. Second only to Google, Youtube is a massive search engine that beats out the likes of Bing & Yahoo. This platform works as a great catalyst to gain viewers and direct them to your other areas of revenue. Get ahead of the digital age curve and start building up your video content now to reap the benefits currently and in the future.
What’s the catch?
Though becoming a Youtuber and making millions is the dream, it takes a lot to build up views to gain a substantial amount of money. Take advantage of it as a massive network and marketing resource. Youtube is a great stepping stone to direct your audience to your more solid platforms.
Sharing Your Knowledge
As the quote goes, you learn something new everyday. On the reverse, it could also be interpreted as you have something to teach everyday. Our minds hold so much knowledge, and not to monetize intelligence, but odds are you have information on something that people want to know about. eBooks are a great way to share what you know and gain a little revenue from it. What’s your niche? As a travel blogger, you could try selling packing lists or tips and insights on the best ways to get around. Having a platform like a blog is the perfect place for you to provide your eBooks to a dedicated audience. Whatever your area of expertise, there are people wanting to know more about it, and this is a great opportunity to sell your knowledge and resources.
What’s the catch?
It’s difficult to figure out how to put a price on the products you’re offering. Remember that a cheaper eBook provides key information, but isn’t expected to be something incredible(sp?) mind blowing. If you’re looking to charge more for your content make sure that it’s worthwhile, and that your audience finds it justified in the price they’re paying.
Passive income is a beautiful thing, but doesn’t come without time and hard work. If you’re interested in creating opportunities to earn money in your sleep, contact us and we’d love to help.