Grind a little more now, and do a lot more of this later!
First, let us bust 2 common myths surrounding the topic of passive income.
Myth #1: Some people equate “passive income streams” with “get rich quick” scams.
The truth is, passive income streams are not inherently scammy. It’s all in what you’re offering.
As long as you’re 100% honest and sell to the right people, you’re not scamming.
Myth #2: With a name like passive income, it must mean I don’t have to do anything at all.
On the contrary.
You’ll need to do plenty of work first to set them up, no matter what.
You’ll also have to maintain your passive income streams and keep a keen eye on them to make sure they keep working properly.
We’ve collected 10 of the best ideas for creating passive income streams, from sources who can actually prove they work.
These ideas will work for almost any kind of business.
So check these out, take notes and start brainstorming on how your business can start making passive income.
An automated sales funnel or conversion funnel is one of the most dynamic of passive income streams. Digital Marketer lays it all out in the above post.
Think of it as a sales team online, 24/7.
Case Study: $2700/Month of Passive Income by Publishing Kindle eBooks, and No Writing
The above article walks you through creating and selling an ebook online, that you don’t even need to write yourself.
If you choose a hyper-specific niche to create a blog about, come with plenty of great content and you should be able to make some significant money with affiliate links.
How to Create a Membership Website & Earn Passive Income Online [4,100-Word Monster Guide]
Put in the up-front work to put together a members-only online educational course, or set of content and then just keep an eye on it while it does the work.
Create a series of videos that touch on your target audience’s pain points and helps them solves problems, and the ads they see will be super relevant (they’ll click, and you’ll get paid).
This article explains how to hire outsourced compile important niche specific information that is provided for free on the internet, so people who need it don’t have to go searching for it.
Lots of value in the information, as well as time saved.
If you website is set up a certain way to make sales on its own, so can a mobile app that your patients can download for free.
(This is a section of the article, just scroll down a little and you’ll see it!)
This is surprisingly easy. Just design, or have someone else create some designs that your target market will love, and use a site like CafePress to create and distribute merchandise with these designs.
Bonus points if they also promote your business.
The idea is to set up your services so that when a customer makes a purchase, someone from your company can help them. The above article is from Entrepreneur.
Get ahold of some experts in your niche and take video interviews for some high value content that your visitors will need to pay to access (download, view online, or both).
Creating passive income streams for businesses is something we do quite often in the form of conversion funnels and conversion websites.
Combining several of these ideas is the best way to go.
Not sure how to go about making money without doing much work at all?
Let us help you figure it out, and it’ll cost you nothing!
Take advantage of the Double Your Sales Review, in which one of our growth specialists will go over strategies you can implement, that just flat out work.
And they work for every type of business, from Bars and Restaurants to Health Care Practices.
Go here to check it out.