You might day dream about quitting your job and living the easy life. But you know you can’t because then you just wouldn’t have any money.
Having the finer things in life means having to work – and (usually) work hard. Right?
If you can create a passive income stream, you can be earning money without doing anything. Well, without actively doing anything. You have to put the work in to set it up, but you don’t have to actively work to get paid. It’s not like a job where you have to clock hours. Instead, think of it like an investment where you put the work and money in on the front end and then sit back and collect the dividends.
Here are a few of the most popular ways that you can make passive income for yourself:
Everybody and their mother seems to have a blog these days. Literally. If you have a blog and you get enough of a following, you can make some money off affiliate marketing. The way it works is that you include a link to a product or service in the content. The link has a tag that lets the advertiser know who referred the customer, so you get a flat payment or percent of the sale when the purchase is complete. You can write content around certain products you want to promote, or you can find products that work with content you have already written.
You can also sign up for automation programs to insert the links for you, or you can sign up for a program like AFFcelerator that helps you optimize the results you get (check out AFFcelerator reviews here). Eventually, you can get to the point where people are reading the content on your site, clicking on your affiliate links and earning you money even if you aren’t actively selling them something or publishing new content all the time.
You can also put advertising on your blog or website to generate some revenue. You don’t have to do anything other than what you’re already doing with your site, which is why it’s considered passive income. If you create a popular blog or good evergreen content, you can keep making money from advertising even if you are not actively publishing.
You can sell advertising directly on your site, but unless you have a lot of followers, you aren’t likely to generate a lot of money this way. Instead, you should sign up for ad networks that can connect you with advertisers and automatically insert the ads on your site. Google AdWords is one of the most well-known networks, but there are many more.
PLR articles are “private label rights” articles. These are articles that you sell in bulk. You write one article or batch of articles and sell them to multiple buyers. The buyers can revise or add to the content to make it unique, but they don’t have to put in the work of coming up with the idea, doing the research, or writing the content from scratch.
You can make a lot of money on good PLR articles because you can sell the same articles numerous times. You can sell the article for less money per sale, but you can make more money on a single article over time than you would if you were creating unique content.
You don’t have to always publish to a site to make money from it. You can create a static site with useful information or a useful tool as a means to generate leads that companies will buy from you. For example, you can create a site that lets people get quotes for insurance or that allows them to schedule a consultation with an attorney. When people provide their contact information, you have a lead that you can sell to the relevant companies. You don’t have to do any more work to get the leads, and you can make a lot of money from them.
You don’t have to start a traditional small business to make money. Creating passive revenue streams can help you make as much money as a small business and to get the financial freedom you want.