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A dream that millions of people share is making passive income on the internet. The idea that you can build a website, provide a product, service, or information, and then sit back to watch the cash flow is undoubtedly appealing.
However, building a passive income is another matter as it does take work, perseverance, and commitment to make it work. For every person who sits back to watch the cash flow in, there are dozens of others still struggling to make their websites profitable.
Yet anyone can build a consistent flow of profit if they start with the best passive income ideas. Basing your efforts on stable, proven passive income ideas will give you the foundation to create long term wealth on the internet.
The basic principle behind building a passive income is finding or developing a product or service that can be sold multiple times over many years. This means that the product or service has to be desirable over that period.
What follows are the best ideas for building a passive income. The term “passive” may be a bit misleading as all profitable websites require a little work now and then once they get going. But once you put effort into building your passive income, the rest will be easy if you follow one or more of these ideas.
By definition, blogging should not be considered “passive” because you do have to put new content up regularly. But once you have built your audience, maintaining your website becomes pretty simple. All you need to do is keep a regular schedule of new content and respond to those who comment. Many highly successful blogs take only an hour or two of work each day, yet they can bring in tens of thousands of dollars during that time.
The trick is picking the right niche or topic that is broad enough to bring in plenty of people, yet narrow enough for your blog to be considered an authority on the subject. If you can find the right topic that balances between those extremes, then you will have a great passive income website.
- Affiliate Marketing
Affiliate Marketing is, on the other hand, is the most popular form of passive income on the internet. While some may consider it active in the sense that you need to market the products or services, the truth is that many affiliate marketing sites are passive by nature, providing information such as blogs or niche websites that appeal to specific groups of people that in turn purchase the products.
The good news about affiliate marketing is that it almost always costs no money to get started. All we need to do is register with one of the many thousands of websites that offer the products or services you want to promote. For each sale, you will earn a commission, which is usually a small percentage. Naturally, the more sales you make, the higher your profits will be.
You will need to choose products that best fit the subject matter of your blog, articles, or other types of websites that you have. Once you start, the goal is to build up enough customer traffic so that there are plenty of people making purchases from your affiliate products that you will earn plenty of profits month after month.
Apps or applications are a multi-billion dollar business that everyone who uses a smartphone is familiar with. Furthermore, developing an app is easier now than ever, although the complicated ones will take a design team. If you can come up with some great app ideas and have them developed, you can make a considerable amount of income daily.
The key lies in the concept. It must be attention-getting, easy to use, and addictive. Games are the most popular types of apps, but they are also the most expensive. Still, if your concept is sound, you can earn a considerable amount of money off a single excellent app idea year after year.
- Article Writing
Several websites allow you to publish articles on virtually any subject. Squidoo and Hubpages, for example, do not require any money or set up beyond filling out a simple registration form. Furthermore, you can sign up to affiliate market products from sources such as Amazon. The more people who visit your articles, the more money you can earn from the affiliate products you sell.
However, you will need to write a lot of useful, interesting articles to attract the attention you need to be profitable. Many of the most successful article writers who use the websites, as mentioned earlier, earn a few hundred to a couple of thousand dollars a month.
This will mean that you need to write well over 100 articles, at least, and probably a lot more to reach those goals. But it is obtainable and doesn’t cost any money of your own, which makes writing for these sites almost a no-brainer. As with other passive income ideas, the topic you choose much be broad enough to reach a large enough audience yet narrow enough for you to be considered an authority.
- Stock Photography
Do you like taking pictures? If so, you can generate income by uploading your photographs to one of the many stock photography websites. If they are considered good enough, they will display on these websites where you will earn a small income for each accepted photograph.
This method can take a little time, and many of your photographs might not be selected. But it can earn you a decent profit each month once you have built up enough stock images. If photography is a passion of yours, then this method can work well for you since it requires no money and can be built up over time.
These are just some of the great passive income ideas that you can use to build up a healthy income over the years. Remember that the heart of passive income lies in developing a concept that appeals to enough people and will sell over and over again.