More Examples of Passive Income
Yesterday I refreshed everybody’s memory on passive income and gave the classic example of real estate. Today I thought I would show some more less capital intensive forms of passive income.
Believe it or not the first example is right in front of you! Websites and/or blogs can be great forms of passive income, and they have multiple ways of generating revenue. Now a blog is not 100% passive, since you need to write articles or posts, without new refreshing content it will be hard to keep a fan base. And not all websites are passive, e-commerce or online stores are not forms of passive income since they require an ongoing effort. Websites are getting easier and easier to set up, in fact to set up this blog I barely needed any knowledge of html or other programming languages. Not only are they getting easier but cheaper too, thanks to WordPress.com all of the blog software used on this site is free. In fact the only I had to pay for was hosting. So websites are one example, but maybe your not really a technical person.
There are still more options, such a bulk candy vending business GeniusTypes has a great article on how to get started.
And finally there is MLM or multi level marketing, this form of income often has a negative connotation attached to it. And in some cases this feeling is well deserved, but there are however very good MLM programs. When picking a program it is very important to do your research and due diligence. Google is a great resource for finding reviews, testimonials and peoples experiences with these types of programs. I do not have a lot of experience in this area of alternate income, but I do have one strong piece of advise. Try and find a companies whose product is consumable, this was you will build up a cache of repeat customers.
Now you have been empowered with 4 forms of passive income, there are many more out there. With a bit of creativity you’ll soon find yourself coming up with new, innovative ways to create passive income. I’ll be going into more detail of these forms of passive income in future posts, so stay tuned!
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Filed under: Passive Income
You can also earn passive income by creating an information product such as a book or eBook. Once you’ve created it and marketed it enough to get it in the public eye it can continue selling for years to come even though you’re not spending any more time on it.