Building passive income online takes hard work, a lot of research, and patience to surmount the learning curve. But, if you’re willing to work hard now, the potential for big rewards is unlimited.
Here are five ideas to build passive income online:
1. Start a blog. Throughout the startup phase, building your blogging empire will take up quite a bit of your time. You’ll need to respond to reader comments, interact with other bloggers, and create daily posts just to earn dimes. But, once you’ve established an online presence with your blog, the potential returns are limited only by your imagination.
Bloggers earn money through several different avenues. However, some of the most common and basic methods of earning passive income through a blog are Google’s Adsense program and other comparable pay-per-click systems, private advertisers, and affiliate commissions.
2. Write articles for ad sharing websites. Ad sharing websites allow you to post articles to their website directory and earn ad revenue each time a visitor clicks on an advertisement next to your article.
Taking part in work at home forums is an effective way of getting leads to some of the highest paying ad revenue websites. Some examples of successful ad revenue websites are eHow.com and Bukisa.com.
3. Flip blogs for quick cash. Once you get the hang of it, flipping blogs can be a quick way to make money within just a few hours. Simply purchase a domain name (new or aged), find a unique WordPress theme, and post content on your new blog. After you’ve successfully set up the blog, place it for sale on an auction website, such as Flippa.com or Sitepoint.com.
4. Sell stock photography. If you’re a brilliant photographer, put your artistic skills to use and sell stock photography online. Capture images of scenes you think will sell well. Then, visually enhance the photos in Photoshop, if necessary, and place them for sale on websites like Fotolia.com or iStockPhotos.com.
Sales may be slow at first, but remember you’re building passive income that treats you to some nice cheques month after month. Once you’ve built up an inventory of several dozen photos, sales will begin to pick up.
5. Become an affiliate marketer. As an affiliate marketer, you’ll promote other people’s products online for a commission. Each time you make a sale, you’ll be paid up to 75% of the sale price. Most people who succeed in this field focus on promoting products through article marketing and email marketing campaigns, but there are several strategies you can quickly learn.
Writing two articles is unlikely to result in a sale. Write 20 articles and your chances increase exponentially. Write 200 articles and you’ll get the ball rolling on some nice commissions.
In time, you’ll be able to pay your bills and plan vacations without dipping into your paycheques. The key to ultimate success is your ability to remain focused on the end result. Allow your desires to fuel your drive toward financial security. An optimistic mindset and persistence in working to achieve your goal will see you through to online success.