Passive Income is a system which deposits recurring income to the bank while running on autopilot; with minimal efforts once established. It may not sound like an easy and possible idea, but there are numerous feasible strategies for earning Passive Income.
A few of the many famous entrepreneurs have countless ideas but no time to execute them. Going out of their way they have shared what could generate more passive income.
Here is the list of top Passive Income Marketing Products:
1. Upsell Opportunities
There exists no field where one could not earn a passive income. Maybe you might have some doubts like how a dentist might be doing it?” it is true that a single person won’t show up for a dental appointment each day. Give patients a “Monthly Oral Therapy” and you will have patients showing up every month i.e. a perfect passive income for dentists.
Another example would be a Personal Trainer. The general source of income would be a personal meeting with a client, but it does not potentially stop a trainer from passive income. All he has to do is introduce a selling line of Vitamin Supplements on a monthly basis.
2. Investing Capital Pool in Real Estate
When multiple investors combine their funds, creating a greater purchasing power and much more diverse gratifying opportunities, through simple economic scale. Pooled Funds could achieve something greater than what one could not do. If one has mortgages, he should sell them, opt for rentals, and take equity out of the homes i.e. a second loan on your home. So, keep the mortgage and take out another. Pool the capital to buy cash-flowing real estate – the cash flow would surely pay the combined rents indefinitely.
3. Internet Marketing Software
If you are a business factoring company which integrates with specific sales-tracking software, providing real-time commission distribution. All you would need is an investor who specializes in funding direct-response companies, a risk analyst and a third-party verification service.
The target clients would be poor cash-flow, growth-oriented marketing organizations. It would: First, decrease cash-flow issues. Second, less bookkeeping problems between vendors. Third, Unlimited tiers of marketing distributors.
4. Turn Failure into Success
“Companies do not fail, people do”. Create a short guide or step-by-step journal to deal with those issues that would cause a company to fail i.e. a manual to save the company from the brink of bankruptcy. The list would include things like cash position, overhead, employees, legal, negative clients, ways to increase sales, cash retain and negotiation.
5. Teach your expertise
Why not teach something to others what you are expert at? All you would need to do is invest a small management fee to a PPC (Pay Per Click) Campaign Company which would drive Social Media ads to a target audience. Good leads would be offered a free option of tips and one time offer of experiencing extensive training for a nominal fee. You could also do the promotion using podcast hosts and content writers around the world.
6. Do What You Love
Pick up something that you would love to do, a passion or a skill. You do not look to create a passive income, you intend to explore your passion and up-scale it. Something that you would do for free. This can be playing games, filming, youtubing, etc.
7. Advertise Amazon Products
Amazon runs an affiliation program. While it is the largest marketplace in the world, Amazon is only able to curate and serve products which interests you in a handful of ways. Build a product infotainment website focusing a particular lifestyle and associate a collection of specific products for a specific season or occasion – include affiliation link that would take customers to Amazon to buy products and take a marginal profit off the products sold in a day. These days, even Amazon is planning to switch to Hyperlocal Business Model in order to focus local business opportunities.
8. Operate an Online Store
He recommends to set up an online store with Shopify. It can be used for setting up and having a store or drop-shipping your products directly to the customers and getting paid even before the items are delivered.
It is so user-friendly that almost anyone can set up such a store with just basic internet skills and also there are a lot of support materials. And the most important thing that every store requires is readily available customer support and here one can contact via phone or live chat.
9. Sell Other People’s Products
She says that affiliate marketing is a great way to earn passive income. Well, you can always find products that you want to share via your social media platforms, websites or similar. When a person purchases a product, you are given a 20 – 70% commission.
10. Become an Online bike/cab Driver
Not everyone thinks of driving an online cab like Tootle Uber for their income strategy. What many don’t know about is that Uber has a feature called “Going My Way” that allows drivers to specify where they are heading and, on their way, they could pick up the passengers for the same route.
Final Thoughts On Passive Income Ideas
Is there anything better than earning money in your sleep? Of course not. And It is Passive passive income that gives you such flexibility in your life. These Top 10 Passive Income Ideas to earn Extra bucks in 2019. All these above mentioned passive income ideas will surely add up wealth to your financial background. You can dig deep about any of them a little more to see whether it will fit you or not. It is advised to analyze thoroughly before jumping into the business.