Guide to Passive Income

Guide to Passive Income


Lots of people talk about making a passive income but is it really possible? A lot of passive income ideas will either generate poor returns or consume lots of your time (not very passive!).  So the question is…what really works?

The very idea of passive income grabs most people’s attention. The idea you can earn money by not doing anything. Sounds too good to be true? Well, that’s because it is. Passive income involves really working very hard to build a process in which you can then generate money without attention.

Here’s a list of some ideas that can make you a passive income stream.

Sell An Ebook

Everyone is passion about something – it might be sport, cooking, writing, you name it. The crazy thing is that for most hobbies there are a lot of other people who are also interested in it. So why not talk about it and offer your ideas and opinions. This might not make you millions but if you’re a good writer, this could be an extra few hundred dollars every month. Not too bad, considering you’re writing about a passion of yours.

Get An iPhone Or iPad App Built

Creating apps isn’t as hard as you’d think. There is software that does the hard work or find someone who can help you. If the app goes viral, you’re sorted for life!

Build An Ecommerce Store And Drop Ship

This idea is for those of you hell-bent on making some serious passive income online.

There’s a lot of work upfront and by comparison to other ideas, there can be a fair bit of work on an ongoing basis.  But this can offer a big payout. A lot of Ecommerce stores service millions, if not billions every year. People love buying stuff online so just researching ideas because this can really offer a full time business opportunity.

Offer new services for your current business

If you own a business, it’s a lot easier than you think to create new income streams. Simply entering the digital world is a clear way to make some extra cash. This applies to almost any industry. Fitness Drum illustrates how personal trainers can make extra cash, while Pat Flynn reveals how he has created a million dollar empire through diversifying his businesses.

Create A Lead Capture Website For Real World Businesses

You can make $1000s a month with this idea, easily!

Think simple Google-friendly content site with a high converting inquiry form for capturing details (maybe even a free report attached to that or something else to boost conversion).

Get A Rental Property

This is so tried and true it’s not funny.

If you buy at the right price, at the right time, structure the deal so it’s good for your personal taxes and achieve full occupancy – and most importantly, then do this again and again. Investing in property can be very lucrative.

Setup Your Own YouTube Channel And Take The Adsense Share

Youtube ‘celebrities’ are earning 7 figures annually. This is pretty crazy stuff but it’s the reality. Grow a successful channel and you can see this profit.

Buy And Rent Out Expensive Equipment, Tools Etc Again And Again

I’m thinking Canon 6D camera, photo booth, treadmills etc.

Work hard to find where the demand is and there you go – create a system in which people rely on your products.

The reality is entrepreneurs are the ones who are thinking of news ways to earn passive incomes. This list doesn’t even scratch the surface. There are unlimited ways of earning extra or passive incomes. Why not give it a try?