Would you like to know the best way of making passive income without spending a fortune?
Passive income has been able to help people quit their jobs and live the life that they’ve only dreamt of. There are many ways of making passive income, whether it’s online or offline.
If you are interested in creating a new stream of income, outside of just having a job, then I’m going to let you know the truth about why creating a passive income stream is the best thing that you can do. Not only will it give you an additional income, but it will also require the minimum amount of work.
Before I tell you about the best passive income choice there is. Let’s go into some more details about what passive income is, and how the power of it can open the door to a realm of other possibilities.
What Is Passive Income About?
If you’re not too savvy about passive income, let me help you out. Passive income is where you work very hard upfront after which you continuously get paid from the work you did.
Sounds too good to be true?
Let me tell you about some sources of passive income that you might already be familiar with, that way you can see how common it is for everyday people to have it in their lives.
After that I’ll explain what the best passive income stream is and why.
1. Creating an e-book. This is a digital product. You work very hard to create it after which you have almost nothing to do with it.
There is no physical delivery. Customers will pay and then download it
2. Selling an online course. Preparing an online Course might take a lot of time but ones it’s done, it can be available for ever although ones in a while, you might need to update it or answer some queries
3. Having a YouTube channel,
4. Creating an app or software.
5. Creating an app is not s difficult as it used to be.
6. Renting out a house
7. Selling merchandise on your blog,
8. Selling your artwork (or other people’s artwork) online,
9. Creating a blog with links to an affiliate product, plus there are many other ways of making a passive income.
Passive income gives people the ability to free up more time by giving them income on a regular basis for work that they’ve already done.
When you take a look at all the possibilities that there are when it comes to creating multiple streams of passive income, it can be a little overwhelming on knowing where to start.
I’m going to share with you why having a passive income is so powerful and also give you the #1 passive income resource available online that you can start doing to change your life.
The Power of Passive Income
Not only will creating a passive stream of income give you more capital to invest with, it will also give you better opportunities to create more assets. This should free up a lot of your time that you would normally have to spend on any job.
If you could imagine, making an additional $3,000 a month without having to work, imagine what that could do to change your life.
For a lot of people, it can give them the option to take a vacation, help out a charity, or to invest into an opportunity that they wouldn’t have been able to previously invest in.
Along with the obvious financial gains you’ll get from creating a passive stream of income, it’s also going to free up a lot of your time. Most people don’t need much to replace their current job.
The average median income for Americans is close to $3,900 a month. If you have your own business selling products online, then selling one item for $39 a hundred times would replace your income.
What if you can only sell 50? Well, then you’re already halfway there to replacing your job.
Passive income will not only help you make money in your sleep, but it can also be something that’s easily acquired if you learn the right skill set or take the necessary steps to acquire it.
Profits are better than wages. Why get paid for working a certain amount of hours ($15 an hour), when you can make $15 every time someone buys something from your website?
It’s astonishing how much of a difference it can make when you have 100 people buying something from you in just one month (that’s only selling three products a day for the whole month).
Most of the ways to create a passive income online are going to cost you a lot of money, the best passive income that we’ll talk about is one of the most cost effective ways to create a passive income source.
Now that you have a better understanding of why passive income is so powerful, let’s talk about one of the best passive income streams available for anyone who has internet connection, at a very low cost.
The Best Passive Income Stream
As I mentioned earlier, selling a product online can be one of the best choices to making a passive income stream.
Unfortunately, for a lot of people, they don’t have any idea of what to sell, nor do they have the ability to purchase the amount of inventory that’s required to be successful with selling things online.
The best way of creating passive income is through Affiliate marketing.
Affiliate Marketing is the only one person business where you can create a 6 – figure business and even more.
But to succeed in Affiliate Marketing, you need to know how to start and run an Online business the correct way. This will enable you to leverage the power of Affiliate Marketing.
I would like to introduce you to the company that is behind my success. The company is called Wealthy Affiliate and their website is www.wealthyaffiliate.com
Wealthy Affiliate is unique as it’s training is actionable and it’s taught in such a way that you implement what you learn as you go along and doing it this way, you are able to earn as you learn.
The company has been in Business for 14 years
- Is a global company spread in 193 countries
- Has over 1.4 million members
- Has 18000+ Expert coaches
If you would like to access the same training as I did, you can access it for free. You will also be able to build 2 free websites using 2 free domains.
You will also be able to start learning and implementing what you learn. How good is that?
CLICK HERE to build your free website using free domain
what’s Affiliate Marketing And How Does It Work?
Affiliate marketing is where you setup your own website and drive traffic to someone else’s product and get paid a commission for selling the item for them.
It allows you to have access to a plethora of products and get paid based on how well you can produce sales for the company.
This is by far the best passive income source available to anyone out there who’s willing to learn how to set up a website and drive traffic.
Affiliate marketing takes all the heavy lifting out of selling products online and makes it easy to do once you get the hang of things.
Here are some benefits of why having your own affiliate website is better than any other source of passive income.
- No products have to be made (you can choose what product you want to market)
- Pay is based on your performance (the more you produce, the more you get paid)
- You can use other niche websites (that are the same niche as yours) to send traffic to your website (pay for advertisements to get more traffic)
- Cost effective (no overhead costs, no inventory)
- Can pay for traffic only if it converts and makes you money (CPA, PPA, or CPC traffic)
- Make money while you’re sleeping
- Doesn’t require being an expert (no college degree required)
- Flexible working hours (convenience of working when you want, and how you want)
- Unlimited marketing strategies and different traffic sources that you can use to grow your business
As you can see, the sky is the limit for anyone who takes affiliate marketing seriously.
Once you get the hang of how to handle making a website, driving traffic, and marketing effectively, then you can use your knowledge and skills to create more websites that will be lucrative.
With the vast amount of people buying things online, the most important thing you can do when starting with affiliate marketing is to position yourself as an authoritative figure online (branding yourself, consistently creating new blogs and having testimonials about the product are just a few ways to help establish your reputation).
The second most important thing you can do when using affiliate marketing is focus on getting good at driving traffic (focus on becoming an expert from one traffic source), don’t try to create too many sources of traffic until you’ve learned how to master at least one.
This will prevent you from getting burned out and failing because you weren’t able to create any traction.
The truth is that anyone can start affiliate marketing that wants to make more money. But not everyone will make money because a lot of people will give up before they even get started.
How Does Affiliate Marketing Work?
You just got a bird’s eye view of affiliate marketing. As you can see, it’s basically using referrals online to sell a product for another company. Let’s dive a little deeper into affiliate marketing and how it works.
There are many affiliate programs that you can sign up for, websites like: Amazon, and even eBay have affiliate programs that you can be a part of.
They will pay you to promote and sell their products for them. Imagine someone clicking on a link to an Amazon page and buying something from Amazon and then you receiving a commission for it.
Not only are you getting paid, but you’re also sending them to a reputable website like Amazon where they ship hundreds of thousands of items out every day.
After you choose an affiliate program to sign up for they’ll have a list of different items you can sell and receive a commission for.
Once you choose a product to sell, simply drive traffic to your website (or to their website) and when anyone buys that product, you receive a commission.
If you’ve ever referred someone to a movie, and they went and saw the movie based on your suggestion, you didn’t get paid by the movie theatre, but they still paid to watch the movie.
Now affiliate marketing works the same way, only you will get paid for referring someone. This is why it’s one of the most powerful passive streams of income there is online.
Everyone is using affiliate marketing nowadays. From Amazon to Uber and almost all the companies in between, they are paying people to refer them new customers and clients.
Have you ever visited a blog where they have an Amazon link or some other link to a website to purchase a product they recommend? Guess what, 9/10 times that’s an affiliate link that they’re getting paid off of referring people.
With the low start-up costs of creating a website and the vast amount of cheap traffic sources that are available, the only thing that’s really left to getting started in affiliate marketing is the willingness, dedication, and consistency that you’re willing to put in.
Affiliate marketing isn’t a get rich quick scheme, as anything that claims to be is not something we recommend you should ever get involved with.
However, it is one of the most powerful ways for someone who is new to making money online to create a passive income. Not much knowledge or capital is required.
If you’ve ever wanted to find a way to escape your job, or maybe you’re looking to create an extra source of income (one that will be there for you whether you work or not), then affiliate marketing could be just the thing you need to help you be well on your way.
Affiliate marketing is an extremely low-risk / high reward business venture that everyone should put some time and effort into figuring out how it works.
Apart from the free Starter membership within Wealthy Affiliate there is also a premium membership.
In premium membership, you have access to everything you need to build a very successful business.
You get all the Education you need (in step by step format through videos, webinars, written text), all the tools, all the resources, One to One support
$19 if you join within the first 7 days of your free membership. After that, it is either
$49 monthly or$234 6 monthly or $359 yearly
CLICK HERE to sign up to be part of Wealthy Affiliate
I am inside of Wealthy Affiliate waiting to give you free support.
We will be provided with the World’s most Advanced tools and you will have access to a network of experts in every niche you can think of.
Our Promise To You.
If you follow the training and ask for help whenever you are stuck, you are going to succeed regardless of the niche you are in.