7 ideas to generate passive income that increase your flow of moneyby TM Maria Be a king in your own kingdom
The passive income have long been the holy grail of entrepreneurs looking to free up some time, rid of the responsibilities and daily tasks and potentially generate healthy monthly income. Although few doubt the importance of passive income, the monumental challenge that one must face in order to achieve a respectable amount of money that is generated from automatic and recurrent sources of income is usually too heavy for the majority.
Obviously, generating a passive income is difficult. It requires an initial investment of a significant amount of time, and we generally do not see short-term income. It can even take months and years without us seeing a single peso of profit from those activities, causing even the smartest of entrepreneurs to despair.
The truth in this matter is that time is much more valuable than money, because although money can be spent and then earned back, time is spent only, and then it is gone forever. As we grow older, we understand the importance of time and being able to freely choose what we want to do with those precious moments we have in life.
What is passive income?
Before moving on to some of the best ideas for generating passive income that will automatically earn you profits, it is important that we understand what this concept is specifically about. It is very likely that you will find countless articles on the internet that speak of hundreds of ideas of passive income, either digitally or in the real world.
When a source of income is passive, it means that it requires little or no maintenance to keep the money flowing. Now, this does not mean that you can ignore it or that you can forget about it. Unlike. It is important that you keep a record of all your sources of passive income and that you monitor them like hawks, regardless of how automated they are.
1. Open a blog
The most important way to generate a passive income is to open a blog. Blogs can generate a lot of revenue, but it will not be fast. If you plan to start a blog, you need to understand that it will take a great deal of time and effort to make it succeed.
2. Write and publish an e-book
Another great way to generate a respectable amount of passive income is to write and publish an e-book. Non-fiction books that help you educate your audience on topics such as digital marketing, business or any other area of development will sell much better than fiction books.
3. Create an online course
Do you have any technical skills? Do you want to share that skill or talent with others while generating a passive source of income? Creating an online course at Udemy is a great way to automate some cash. However, like other sources of passive income, it will take a lot of time and effort at the beginning.
4. Become a marketing affiliate
Affiliate marketing is one of the most powerful ways to produce multiple passive income, however, it is not easy at all. To achieve this you need to have a large fan base, that is, you need a large audience and a good platform.
5. Build a sales funnel
Anyone in the marketing business understands the concept of sales funnel. The sales funnels conceptualize the process of taking into account the point of view of consumers when it comes to moving from search engines to buyers. However, building a good sales funnel is not easy. It requires a large investment of time and many search engines that insert into the funnel.
6. Develop an app
OKAY. OKAY. I know that it is not easy to develop an application for smartphones, because you need to have a lot of talent or a little money so that someone else transforms your idea into a reality, but of course it is possible. It may be that the gold mine of the apps is already running out, but you can still get a respectable revenue source if you develop the correct app.
7. Get passive real estate income
Real estate has been a source of passive income for years. Investors and owners have chosen to rent houses, apartments, condominiums and offices to generate monthly profits. Clearly, real estate is a great source of automatic income, but requires a strong initial investment.
Created on Jul 5th 2019 03:05. Viewed 78 times.