Seven Passsive Income Ideas – The Ultimate Monetization Solution
Monetization is the keyword of the times when it comes to blogs, websites, and other online real-estate. Whether you’re an online magazine, newspaper, or mommy blog earning revenue, especially recurring passive income is what makes the Interwebs go ’round. While some people do start blogs for the sheer love of writing, most people really do hope to make money online. The great thing is, the Internet is so wide open in terms of how you can make money but the best kind of money to make is through recurring revenue and passive income streams.
Earning recurring passive income is the best way to keep your business afloat even during down times like vacation and illness. Recurring passive income is money that you will earn week after week or month after month without that much daily upkeep. You can add many levels of recurring income to your business model even as a service provider.
Here are some passive income ideas you can start right now to set up a few passive income streams.
Advertising — The space above, below and around your website content can be space that earns money every month. The best way to do it is to just have a set monthly fee for various spots on your site, and size of the advertisement. (tip: You can make extra money designing the ads!) At some point you can even join an advertising network which will enable you to outsource most of the work involved with having advertising on your site.
eBook Sales — Either write an eBook within your expertise, compile old blog posts into an eBook, or sell someone else’s eBook. If you write your own eBook you can sell it on Amazon via Kindle or Barnes & Noble via the Nook. The options for eBook sales are truly unlimited. People love getting information instantly and if you have knowledge to share, you can offer an eBook.
eCourses — Depending upon your niche you can create an eCourse to help others learn to do something. Whether it is weight loss, natural parenting, or how to start a website for profit, you can do it via an eCourse. In fact, you can start accepting members to your eCourse before the entire course is developed. Just get an outline, do the introductions, the first week of the course, and start selling it. Sales well motivate you to keep going. Once you’re done with the writing part, it’s all profit and passive income from there.
Job Board — Charge people to either post openings to your job board, or access your job board. Either way, you can make a nice profit depending on if the niche is right. This is really great for work at home sites, local community shopping sites, and career sites.
Affiliate Sales — (my favorite one) An affiliate earns a percentage of money for a product sold, but this can go both ways. You can both be an affiliate for someone else, and you can offer your own affiliate program for your products and services.
Paid Message Board / Community — If you have a good number of visitors to your website or blog, as well as comments, it might be a good indication that a paid membership site or community would be appreciated. It is a lot of work to have a message board and community so be prepared by asking for volunteers to help monitor the community in exchange for free membership to put it on autopilot.
Fee Based Blog — There are some really popular writers who are now charging for access to read an entire blog post. This model seems to be working for some but you must have a good following before trying this. It works for Tax Mama, and many professionals who have information to share that would normally cost thousands but they can give it for dollars due to the amount of people who sign up.
Keep looking around for opportunities and ideas to add even more residual passive income revenus streams into your business. After all, once you’ve got one site successfully running, you’ll get the next one started in no time.
To your “passive Income” success!