5 Passive Income Streams You Can Start Today

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I was going to make this sound simpler than it is and say something like, “Just choose one of these 5 passive income streams get started and start making money!”

But you and I both know that one or more passive income streams will take some time and a good deal of effort to build.

Still, what is better than making money while you sleep, and then being able to leverage that system to produce more and more income as you like?

Top 5 Passive Income Streams

Here then are my top 5 picks for passive income streams for new marketers and seasoned marketers alike. I will say that choosing just one of these to start is a good idea, since it will allow you to focus and build much faster than if you scatter your attention over 2 or more of these.

That said, once one of these is bringing in a decent income for you, then you might want to branch out to a second one and get it up and running as well.

And please keep in mind that while passive income means earning when you’re not working, it does not mean you’ll get paid for doing nothing.

There really is no magic money tree. (If there had been, I would have found it by now).

It’s sort of like real estate. You have to purchase and maintain the real estate in order to receive the passive income of rent.

Alright then, let’s get started:

1. Creating Your Own Info Products

Just like affiliate marketing, you need either your own audience or the ability to generate traffic to make this work. But in this case you are the product creator and you are handling customer service on your own products as well.

You might wonder why you should go to the trouble of creating your own products when you can simply be an affiliate for other people’s products (see below). That’s a fair question because being a product creator is definitely more work, and you run the risk of putting time and money into creating a dud.

My mistake: I speak from bitter experience as I spent 4-figures and many hours creating a dud. My content was good, and well-researched, but my presentation and marketing were dire.

The one skill that every online entrepreneur has to master is finding visitors (traffic) who want to buy their product – and having a product that targets a specific market-place.

Nevertheless if you have a specific niche and product creation appeals to you, the best product creation training I know is HERE. (This training wasn’t available when I created my own product. If it had been, I’m sure I would have had better results. But I’m not tempted to repeat the process as I found – too late – that there were many affiliate programs already produced that I could have sold for just a share of the profits, without the expensive risk of creation.

BUT….

Despite the hard work and risks of product creation, if you get it right you also enjoy some benefits that affiliates don’t get.

First, you can get affiliates to promote your products. This way you are getting a percentage of all of their sales in addition to 100% of your own sales.
Next, you are building a reputation and a following of customers. Your most loyal customers will come back time and time again to purchase your products and they might even become your affiliates promoting YOUR products to THEIR customers.
Finally, when you have built your own credibility (and email list of contacts) you are able to do joint ventures with other product creators to put on extremely profitable events and sales.

There are other benefits, too, but if you’re just starting out, I recommend working on building your audience and monetizing that process with affiliate products until you’re able to start creating your own products, too.

Product creation can become one of your passive income streams IN TIME – but be prepared for hard work in the beginning.

My recommendation is affiliate marketing – see below.

2. Blogging

Yes, blogging is still extremely relevant and a great way to build an audience and a reputation.

Your content can be long form or short form or a combination of the two. Keeping your readers apprised of the latest news and developments while also creating evergreen content is best.

However, blogging for income is a long-term strategy.

My mistake: I tried to teach myself blogging and spent years getting it wrong and restarting. The world is a better place without my initial self-taught blogs.

If I were to start again I would take a training course, with technical support (and it also includes hosting for your site).

You can take a free trial ==> here

Once you have a successful blog, you can monetize your blog by offering affiliate products, your own products, sponsorships and by becoming a paid influencer in your niche.

Once you have a loyal following, marketers will seek you out to promote your products. Click here to become an influencer.

I have earned as much as $200 for articles on my blog via this site.

You can turn your posts into reports that you give a way to build your email list or Facebook group.

Again – this will take time before it joins your list of passive income streams.

3. Podcasting

Do you love to talk about things and ask people questions? Then put that skill to work with podcasting. Share your knowledge, ideas and insights with your audience.

Comment on the news, offer your own opinions and get your audience to weigh in on topics.

Interview experts on relevant topics in your niche. Collaborate with others to create interesting conversations and even do “person in the street” interviews cleverly edited together to provide entertainment value to your listeners.

You can monetize your podcast by offering affiliate products, your own products, sponsorships and advertising.

Not something I have ever tried, but I know some very successful podcasters and will put members who join my team in touch with someone who can help.

4. YouTube Channel

This is a great way to make passive income because of the sheer potential of it. And no, you never have to appear in front of the camera, either.

Once you qualify for YouTube’s partner program (1000 subscribers and 4000 hours of watch time) you can upload a video once and continue to get paid for it for a long time to come.

Think of one video going viral and getting a million or more views and what that could mean for your bottom line.

You can make videos on which you appear in front of the camera, talking about your niche, teaching how to do things or whatever is relevant that people want to see.

Or you can make videos such as Top 10 lists where you never show yourself. You can even get a professional to voice over the videos if you want, allowing you to be you completely anonymous if that’s what you prefer.

You can also recommend products in your videos, do product reviews, teach how to do things and give them links for the tools they’ll need.

You’ll want to get to know your audience to see what they like and it will help to become proficient at video editing (or hire someone to do the editing for you.)

For those who like the sound of monetizing videos, but don’t want to appear on camera, take a free trial => here of software that is exactly what you want. The video below is my first attempt.

It’s by no means perfect, but it’s better than me stuttering and stumbling, and getting more and more stressed with every ‘take’.

It actually introduces my chosen form of passive income, which is …..

5a. Affiliate Marketing

The easy part of affiliate marketing is that you are selling other people’s products. You don’t have to create products or provide customer service for when you’re selling someone else’s products. You simply get an affiliate link and send traffic to the offer.

And that is the ‘work’ of affiliate marketing – building an audience or getting traffic to an offer. But as you’d have to find an audience whatever you chose, you may as well learn ‘audience building’.

What I recommend: I have a $7 affiliate marketing training here.

That offer has a way to build a team of affiliates and earn from their sales. Our most successful affiliate has earned $110,000 and now lives overseas, with most of his income coming from the team he built.

To earn money with affiliate marketing you can either build a following via social media, email marketing, YouTube, podcasting and so forth, and offer products to those followers.

One way is to experiment with paid advertising until you create a funnel that is self-liquidating, which means you are making as much or more money as you are spending for the advertising.

But be careful – testing your own advertising can be extremely expensive! I have seen people spend up to $30,000 before they found the best combination of optin-page.

No – it wasn’t me. I chickened out after I had spent just $200 on pay-per-click adverts and made no sales.

The deep pockets to test optin pages came from the creator of the training above – and, when you join me, you will benefit from those optimised pages.

5b. Build An Email List

A vitally important part of affiliate marketing is to collect the names and email addresses of interested parties, so that you can follow up with them. Prospects rarely buy immediately – they need a little ‘warming up’.

Also you can send them special offers, new products and tips for using your product.

My mistake I lost all the contacts in a program that was paying me a 4-figure a month income. I trusted the program to hold the contacts I had paid to build up on their own database instead of on my own email list. The company closed down and started marketing a competing offer to ‘my’ contacts. (I won’t make that mistake again.)

What you should do instead From the training site above, click ==> here for training to start your email list. And you’re guaranteed to make commission.

As you nurture your email list (helpful content and tips) they will come to know-like-and-trust you, and sometimes buy your recommended products – or, even better, refer other customers to you.

Your Next Step

In closing, I know I haven’t disclosed anything here that you weren’t at least partially aware of. But what you might not realize is that most internet fortunes aren’t made with the newest, latest, greatest fad but rather with the tried and true offer that has already worked for so many.

Every single one of these methods of creating passive income streams has created untold numbers of financially free lifestyles for people who now work a few hours a week and get paid 24/7 for their previous efforts.

You can be the next person who takes one of these methods and turns it into a 5, 6 or 7 figure passive income in the coming months and years.

The method I have chosen is affiliate marketing. Although the principle is easy, there are some pitfalls to avoid – so best get yourself some training before you make expensive mistakes. (Like I did.)

You can start learning affiliate marketing for just $7 – click here.

Source Of Article

Reproduced with permission from The Internet Marketing Newsletter – saving myself time researching articles, finding graphics, and sparing you from my appalling lack of design skills!

Click here to see how you can do the same