8 Ways To Earn Passive Income Online

Wouldn't you like to actually live the life you dream about? No more money worries, you can take a vacation whenever you want, work when you feel like it. Spend more time with your spouse, your kids and be in absolute control of your life and your time. Sounds good right? Well, if you wish to achieve this, you need to build a passive residual income and you can achieve that using the internet to generate passive income.

Online Passive Income Defined
The definition of traditional passive income is "Income generated with minimal work from your investments such as interest, dividends, or real estate rentals." However in this article we are discussing creating a passive income online. Investment of time, creativity and money is initially required to build a passive income online, then possibly minimal work thereafter. Before I go on let’s look at the immense benefits this has.

Benefits of generating passive income online:

1. You work once and get paid over and over. Make a strong initial effort to get your income started, then do minimal work (or virtually none) thereafter, resulting in earning more and doing less.
2. Your passive residual income is not dependent on a regular 8-5 Job and its challenges.
3. Freedom to choose when and where you wish to work, you control your time and the pace at which you work.
4. No transport fare to pay to go to work
5. You are not afraid of a sack!
6. Create an unlimited amount of income, as far as your imagination can carry you.
7. Have more free time to spend time with your family, friends and loved ones.
8. Go on vacation when you feel like and still be able to generate residual income while having fun.
9. Able to increase your pay whenever you want by creating multiple income streams. You are the boss in charge!
10. Ability to create residual income for your future retirement.

Types of passive income streams to build online:

1. Create and Sell Information Products - the web is great place to create an ebook that explains 'How to" information, for instance How To Start An Online Business, How To Make Cool Dollars From The Comfort Of Your Home, How To Lose Weight Fast and so on. Any quality information that makes life easier for people either at national level or global level. People are hungry for information, simply position yourself as the information provider. Solve a problem and get paid for doing so.
Benefits of creating an ebook
Very easy to create: you just need the ebook creation software which you can get for free.
Not time consuming: takes a short amount of time, you can create a report in a few hours or days, 5-30 pages wont be a bad idea. The most important thing is quality information. Gives you opportunity to promote Backend products and sell Affiliate products: you will strategically include other products related to the content of your ebook, when they buy you make money.

Include an affiliate program: increase the number of ebook sales by getting other people to sell your ebook for a commission. This enables you greatly increase your passive income.

Permit Resale Right, Master Resell right or Reprint right: charge a fee for people that will
have the complete resale or reprint right to your book, it is a fast way to increase sales.

Permanence: Books don’t die, either online or offline, it is the same. Write it once and sell and profit forever.

If you are interested in knowing how you can create your own ebooks, earn multiple streams of income from ebooks and make good dollars or naira with it for the rest of your life simply send an email to dollarsconsult@gmail.com

2. Creating software products - if you have a good idea for a software product that will help people do something faster, easier or teach them something, then you may have a
winner. What’s more you don’t need to be a programmer to have your software idea communicated and created. You can find programmers online who will gladly create it for you for at a reasonable price. A visit to www.rentacoder.com or www.elance.com will help your understanding of how this can be done fast.

3. Affiliate Programs - passive income is derived from selling products online for commission. The parent company provides the products, tracks the sales and gives you a commission for each sale.

4. Adverts and Adsense : if you have a web site that attracts a good number of visitors a day you can offer to place a banner or link on your site for a fee that you collect each month. You set it up once, then collect the passive residual income. You can do the same for your ebook, ezine or newsletter.

Google AdSense - place Google Ads on your web site or blog. When someone clicks on the ad, you get a commission for every click. It is very real and lots of Nigerians are doing it even as I speak or should I say type!

5. Create a membership site - if you are an expert in your field and can provide the resources, knowledge and support, you can charge a monthly fee to gain access to your
membership site. The more members you gain, the more money you make. Because you are an expert in your field, you can also recommend other products and services to your members from which you earn commissions. Another thing you can do is create a site that serves as a platform where people with similar interest meet. A good example is a dating site. To know how to create, run and profit from a membership site you can send an email to dollarsconsult@gmail.com

6. Create a social networking site with user generating content and make money from adverts and product promotion. A good example is the popular facebook. There’s also a new one by a Nigerian called tafoo.com

7. Forum Monetization: you can decide to start a forum and monetize it with banner adverts and adsense. The more membership you have, the busier your forum, the more money you will make from it. Wondering what a forum is like? Check out this forum with a membership of almost four hundred thousand (400,000) Nigerians home and abroad www.nairaland.com

8. Blogging: The word blog is a shortened version of the term web log. It is a type of website, usually maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video. When one writes a blog and maintains it by adding or removing entries that is called blogging. With blogging the author is not simply called an author but a blogger. And each piece that is written is not simply known as an article but as a blog post.

Many people have found interesting ways to make money with their blogs. Adding Google ads is a great way to make some money while having ads on your blog that are relevant to the topic at hand. The way this works is that Google will place an ad or link on the pages of the blog, if a reader clicks on the ad, the blogger gets paid a set amount for each ad. While one click may not make one a millionaire, if the blogger consistently provides great material on his or her blog, visitors will continue to read and even click, earning the blogger some easy money.

Other ways to make money with blogs is to sign up as an associate with amazon.com or clickbank.com and sell products for commission. You can also sell your own product to your blog visitors.

Conclusion: Building multiple passive income streams is a great way to secure yourself for the future. You never know if you will be laid off from your regular job, get too ill
to work, experience a disaster or want to start saving for your retirement. The internet is a great place to create streams of passive income for yourself. You work hard once or a couple of times and you get paid over and over.

Get Step-By-Step Strategies to Generate Income Online by picking up a FREE copy of: The New Age Work at Home Plan: “Internet-Based Financial Independence in 10 Simple Steps” Feel free to send an email to me at dollarsconsult@gmail.com for a FREE copy. Till next edition, keep succeeding!