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May
30

5 Ideas for Generating a Passive Income

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Hi there now today I want to offer up  some ways to generate income that’s continuous once you’ve set it up. Now many of you will be thinking “yea but its lots of work initially for not a lot” and that in itself is a problem because what you should be thinking is if I get a number of these set up and operating on ‘auto pilot’ then combined there’s going to be a nice regular income coming in, so please read on.

Passive income means money that just keeps coming in without you doing extra work for it, ie: hands free. You set something up and do all the work beforehand, and once you launch it, it starts making you money without you doing anything more. Here are five ideas for doing that.

"Hands Free" income or Passive to you & me!

Monetize Your Blog

If you’re got a blog with lots of readers, there are tons of ways you can monetize it. The traditional method is to place ads on your blog. You can also become an affiliate for products your readers would be interesting in and plug them in a subtle way in your blog posts.

Kindle Royalties

Book royalties are great for passive income but it’s hard to get a publishing deal. Luckily, nowadays you don’t have to. You can publish your own books for Amazon’s Kindle reader. After you write and upload them, Amazon sells them for you. If you target a very specific niche and write lots of titles, you’ll increase your income.

Open a PLR Store

PLR’ means private label rights. These are articles you write just once and sell over and over again. You can open a store and once you drive traffic to it, you’re all done. People will pop in, buy the PLR they need and the money goes into your pocket.

Micro Niche Marketing

There are lots of opportunities for creating a passive income with micro niche marketing. This means choosing a niche that’s very specialized. The reason this is so profitable is that you don’t have to work nearly so hard to rank high for your selected keywords.

Membership Sites

Membership sites do take some maintenance, especially at first, but this is another great way to make money passively. Once it’s all set up, people join and pay each month. Starting a forum is a great option because your users create the content for you. Membership PLR sites are also great.

Creating a Passive Income with No Work Whatsoever

I know what you’re probably thinking reading this list – ‘Yeah, but each of those requires some work and maintenance.’ That’s true. For each of the above methods, you have to set it up and there’s some tweaking you’ll have to do later on. But you’re not working for every dollar and there is one way that you can do all of these methods without lifting a finger – outsourcing.

You can make each of the above methods totally work-free if you know how to outsource. Hire writers to create your content. Hire a good SEO company to drive traffic to your sites for you. You can even hire help to find profitable niches for you.

Of course, if you want to do it the workless way, you need the money to pay your outsourcees. Plus, if you’ve never outsourced before, there’s a bit of a learning curve. You need to check them out carefully and make sure they know what they’re doing. But the Internet puts the world’s workforce at your fingertips. It’s never been easier than it is today to set up a passive income without doing the work yourself.

Toby & Sam Russell

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