Ever wondered how to create passive income for yourself and your family?
We all like to enjoy life to the fullest, go for a holiday and spend time with our families but it always challenging considering our 8 hour day jobs and to add to the misery our finance are also tight.
So I decided to dig around to find what is the best way to make residual income for foks who want to supplement their income.
Many people think that passive income is about getting something for nothing some have actually attempted creating passive income streams only to be amazed by the amount of time and work involved.
Now let look at what is residual income?
Residual income is sometimes refered to as, passive income.
So residual income is describes as an income that you receive frequently without putting much effort, before you receive this income you need to invest your time or money upfront or both in some instances.
As you can see passive income streams come from assets, and assets are either bought with money or created through hard work.
I will list residual income business ideals you can tap into below:
Sell Your Photographs
If taking photos is your passion, why not sell photos online.
You can definatly turn your passion into a side income which can become passive online because your photos can be sold again and again.
Sell an E-book
Although you need to invest your time upfront to create a the book, it can pay you over and over creating passive income after it published.
The great part is you don't have to market it yourself, you can publish it on website like ClickBank and affiliates sell it for you.
Sell Membership Courses
If you have gained skills and experience in
a particular field, you can share your knowledge by creating a membership course.
Building Apps
If you have programming knowledge, you can build apps for platforms such as Android and iOS. You can sell advertising space for companies like Google and Yahoo and Bing. You can also charge a fee for your your apps.
Sell Your Own product Online
Like I said if you know programming, the possibilities are endless. You can create your own digital products such as software, online dvd's and sell them on ClickBank or your own website if you have one.
Make YouTube Videos
You can create your very own YouTube channel and create videos. This market is not crowded compaired to website building and blogging.
Here you can be more creative and create any kind of videos you can think of then attach your Google AdSense code to your videos.
Google will then place relevant ads next to your videos. When people click on those ads, you will earn money from Google.
Build A Blog And Sell
You can build a niche blog and sell absolutely anything related to your blog, from advertising space to affiliate products. You can also sell your own products and also place Google AdSense banners and earn money.
Although there is time and hard work that has to be invested in creating your blog, the rewards will be worth every minute.
Sell Affiliate Products
Affiliate marketing is considered to be among the world's fastest growing and best web marketing techniques to generate income online and is most likely among the quickest and most affordable ways to begin generating income online as you don't need to produce any products yourself. You just connect a seller and a purchaser, and you take a commission on the sale that has been referred by you.
When you join an Affiliate program and pick the products that you wish to offer, sellers offer you with an unique affiliate code that you can utilize to refer visitors to the target website.
The best way to sell affiliate products online is to write reviews on your blog about those products and give valuable information to the prospective buyer.
People most likely buy from a trusted source, so if you provide genuine insight of the product they will definatly buy the product.
Selling affiliate products enables you to create passive income without money invested upfront.
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Thank you very much for reading, I hope this article was helpful to you.