Making money from the moment you open your eyes in the morning is amazing, but making money while you sleep is on a whole other level. It’s called making a passive income and it needs to be at the top of every single entrepreneur, solopreneur and freelancers to-do list because having a passive revenue source is a great way to boost your earnings and maximise your time. You could then use all these extra minutes to explore other business options or just lay back in the jacuzzi you were just able to buy. It’s your call.
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You’ve Gotta Do YouTube
It started quickly and it has picked up speed like you wouldn’t believe. But the best part about the YouTube craze is this: there is no niche too small. Reviews, tutorials, advice, opinion pieces, comedy, consultancy and anything else you can think of; it all slides under the bell curve of what’s possible with YouTube. All you need to do is make a video worth watching and sharing, add Google AdSense to it, start marketing it effectively and then smile as you make money from each advert that is clicked on. Coming up with good content is the trick here, which is where hiring a creative copywriter could be super beneficial.
Explore The Riches Of An Ebook
First things first, the caveat: this can require a whole bunch of work up front. However, get it right and market it well and you’ll find yourself earning a passive income stream for years to come. Rockwell Trading is great at this. A catchy byline like, “Learn how to trade in 60 minutes” and you’ll garner attention from all corners of the world. As for selling it, you can either post a link on your own website or enter an affiliate arrangement with other websites and bloggers in your niche.
Become An Affiliate Marketer Yourself
This is like the popular kid at school who always won the 100m, in the sense that it is both effective and fast when it comes to generating cash. The trick here is to not just become a scrapheap where you want to make money off everything. That doesn’t work. You need to find products that you are genuinely interested in and want to recommend. Once you have done this, you simply need to endorse and promote these products-slash-services on your site. If people start clicking your link and buying the product you’ll then get a commission. How much depends on your arrangement. It could be 30% or it could be 70%. Either way, you can start earning a lot for not doing much very quickly indeed.
Sell That White Space
Every website has some white space kicking around, which is perfect for advertisers. That’s right, you could make a bit of extra cash by selling ad space on your website to companies that want to sponsor or be affiliated with different blogs. It could be the space at the top or those on the sidebar. What will dictate the price is the amount of monthly visitors your website gets. It is typically quoted as X per one thousand impressions (CPM). Let’s say you agree with $6 CPM and your website gets 100,000 visits, that’s $600 that month. Lovely jubbly.