How to have a Passive Income? 6 of 6

Selling Instructional Products: At the moment, the fastest growing area on the internet, both for finding things and having an internet presence, is Instagram. It is so simple and effective it has taken over Facebook and YouTube because of the huge amount of garbage they have both now collected.


Right now the biggest Instagram users are women over 45 years old and this is no joke. It used to be teenagers on Facebook, but because of the new smart phones, these often technically challenged users have become the biggest users and also the biggest spenders with an estimated user rate of 45%, and with their relatively large spending budget, these people are usually at the stage of life when they have a little spending power and are happy to use it.


If you can write an eBook, then putting together an instructional or informational book or better still, some kind of eProduct such as a DVD series, software, app, instructional CD set, online course, podcasts, technical video or anything that would help people and solve any technical problems etc., this should not be too difficult (especially as you can outsource where needed).


There is a huge readymade customer base on Instagram, (not that you should stop using all the other social media platforms as well), for this kind of product. These products can be sold anywhere and there is no interaction (unless you want it).


They often start at several hundred dollars and can be updated as needed or you can ask for an email address to send them updates so these people become part of your email base. You should be trying to add to your email at every opportunity as it is your best source of high quality traffic. High quality in the sense that they have already purchased from you so are very likely to do so again, without too much persuasion, especially if you have provided good quality for money in the past.

Revenue Sharing There are a lot of people who do not want to or cannot be bothered with setting up their own website and do not have a product to sell. This is where some of the revenue sharing sites can help provide you with the opportunity to earn money online without having to do all this extra stuff and take the time to learn how. If you wish to write for pleasure or as a hobby you can also make some extra passive income by writing high quality articles and submitting them to a variety of different locations on revenue sharing sites.

Squidoo Squidoo is a writing platform that lets you create pages with rich content and then use those pages to sell products for profit and many people use it to market Amazon and eBay products, but to earn anything from ads on Squidoo, they need to incorporate a buying angle.

Hubpages Hubpages is similar to Squidoo; it is a content community for writers. Members have their own sub-domain, where they post their content-rich articles (known as Hubs). As a writer for Hubpages (or Hubber), most of your earnings come from your own Google AdSense account and sites such as Kontera, as well as eBay and Amazon Affiliate programs. They use revenue splitting, which is done by alternating the code used in advertisements: Your code will be displayed 60% of the time, and HubPages' code 40%. This site is one of the 500 most visited US sites on the Internet.

Infobarrel Infobarrel is a site that is smaller than Squidoo and Hubpages, but its earnings program allows you to keep a majority of the money that your articles earn often as a publisher and you are entitled to 75% of the revenue generated from the display ads on your articles. Infobarrel pays directly to writers, unlike Squidoo and Hubpages, so all you need is a PayPal account which can be an advantage if you are just starting out. InfoBarrel forums have a regular thread entitled 'InfoBarrel Earnings Reports’, making it easy to see what other writers are earning.

Conclusion

Thank you for taking the time to read my blog, I hope it has given you some practical ideas on some of the different ways to go about building a passive income for yourself over the long term. By taking a hard look at your own situation and seeing if there are any areas you may be able to improve in your financial situation, you are taking the first steps to becoming independent.


A passive income, by definition, is where you do a certain amount of work to provide an asset that you can make a return on. Some people have real estate that they collect rentals on or buy cheap and sell at a higher profit, others invest their money in stocks or bonds and live off the proceeds. For some people that do not have the capital to make a large investment that will service a lifestyle they wish to have, they will need to use other options such as creating or writing eBooks.


This can represent a large investment in time as many eBooks take months or years to write. This type of investment can pay off as the book has the potential to keep selling for many years.

Usually the people who are successful at obtaining a long term passive income do so by careful planning and spreading their resources over as large an area as is practicable as this will lessen the chances of any losses and maximize the chances of gaining a better income from your profit base.


The old saying ‘don’t keep all your eggs in one basket’ is very wise.


Many investors have come undone because they over invested in only one area and were unable to absorb the losses they incurred. Spending above your total capacity or not taking into account the need to service and maintain your web presence as well as taking risks that do not payoff are recipes for disaster and should be avoided. But common sense and forethought can go a long way to preventing most problems.


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