Who doesn’t want to make money while they are sleeping? Impossible as it may sound but with internet it is possible. You just need to put in a little effort and do some research before getting started on passive income. Here are 10 ways to generate passive income.
1. Create an affiliate blog
All you have to do is set up a blog and promote it for affiliate offers. This is the best known method to generate passive income. You can start with an affiliate site such as ClickBank or Commission Junction. Do your keyword research and optimize it to start promoting.
2. Put together and auto-responder list
This is one of the most common marketing techniques on internet. Once you know exactly what kind of market you want to attract, put together a free product or information people can download once they give you their email. You can drive traffic to a landing page that asks for visitors email.
3. Create a membership community
This is basically a follow up of the above mentioned methods. Once you establish yourself as a reliable source of information, you can ask people to sign up as a member for more information and charge a membership fee in return.
4. Sell commercial products online
People are turning to web in order to buy stuff. This means a large number of people are looking for exactly what you supply. You can visit eBay or Shopify.com to see all the tools you need to sell online.
5. Arbitrage services
You can act as a middle man between two sources. All you need is a market willing to pay significant amount of money for a service like writing or designing and a source of labor that dos your work for a relatively lower price. This way you can make profits.
6. Find sponsors for articles or regular columns
Some websites and blogs are more popular than others and attract more visitors. These can be monetized through sponsorship of a product, logo or mention of sponsors. You can find sponsors for articles that attract large number of sponsors.
7. Sell your information product
It is more or less like selling and eBook except that you publish and sell it yourself. When you sell your own product, you get to keep a large percentage of profits yourself hence avoiding most of thr intermediaries.
8. MLM/ network marketing
This is basically like a pyramid scheme. Select a product line you are passionate about selling and get to work.
9. Sell advertising
This is quite like an affiliate blog except it needs more self-maintaining and self-sustaining which could be quite a task. It also generates much more traffic and money.
10. Peer to peer lending
This involves lending money to people on internet, generally the ones who cannot get credit any other way. It is pretty much like ordinary investment but with different asset class and payoffs. This is risky and capital-intensive but good for people who know how to run things.