There’s no doubt about it – creating passive income in your business can be a HUGE benefit. But there are many different types of passive income online to create. Should you try all of them? Specialize in one of them? Determining the best method for passive income in your business may be the hardest part of the process!
I will explain two of my favorite passive income methods – and why I think they can easily adapt to ANY business (and why they work so well together).
Affiliate Marketing – Many businesses have affiliate programs, which are free to join. When you become an affiliate for someone, you will be given a special link that you can use to market the products and services of that business. You can do this by posting graphics on your site (that look like regular ads).
You can also market these programs through your content.This can be done in your blog posts, in the newsletters you send to your mailing list, through your tweets on Twitter and even your status updates on Facebook.
For an in-depth look at affiliate marketing, I recommend the Affiliate Marketing Sweetie Course by Alice Seba. I bought it back in 2006 when I was just learning about affiliate marketing. Alice does a great job of explaining how to get started – and succeed. The course was a great help to me!
Information Products – An information product can be an ebook, special report, workbook, Mp3 recording, a video, etc. They can be sold by themselves, or grouped together. Sometimes, they are physical products sent to you, but in most cases, they are sold as digital downloads.
Trust me, there are things you know, that other people will pay to learn. So the question is – What do you know? Do you know how to sew, knit, create websites or graphics? Are you a VA who knows how to get clients or a savvy shopper who uses coupons to get awesome discounts? An elementary school teacher with a knack for teaching kids how to read?
Think about what you know, and create an info product out of it.
For a longer, more thorough explanation (plus instructions) sign up below for the free 5 day ecourse on Passive Income:
I think these passive income methods work for all businesses. No matter what you do, there is some kind of product, service or resource that would be helpful, one that you could reccomend to your readers and customers. That is the essence of affiliate marketing!
As I stated before – there is something you know that others will pay to learn. As you are providing information and teaching your readers and customers something new, you can include your affiliate links to other products, services, or resources that would be beneficial to the person reading your info product.
See! I told you they worked hand-in-hand!
(By the way – Indie Biz Chicks has an affiliate program! Click Here to join!)