Jumat, 15 Februari 2008

Earn a life-long passive income from the internet

by Anup Mahajan

Before we discuss the benefits of earning passive income through the internet, let's look at different types of income and their pros and cons,

1) Active Income - This is the most common type of income and it involves getting paid for services that you offer. Active income can be in the form of salary, commissions, wages, tips or income from business. The key point to note here is that you earn active income by participating in the daily affairs of your job or business.

Pros - Offers job and income security.
Cons - Monotonous, time consuming, plus the job security is at all time low.

2) Passive Income - Passive income, on the other hand, gives you a regular income with little or no effort from your side. Some examples of passive income are:- income from patents, royalties, real estate rentals, network marketing, business partnerships and many more.

Pros - Great source of residual income, more time for family & friends, can lead you to your financial freedom.
Cons - Not everyone can earn passive income from royalties, patents. Requires a lot of effort in the initial stages.

3) Portfolio Income - Portfolio income is derived from your investments. Some examples of portfolio income include income from bank deposits, dividends from shares, profits from shares/bonds/real estate/commodities/forex and many more.

Pros - Very high income potential if investments are done correctly, can lead you to your financial freedom.
Cons - Investing is not easy. It takes a lot of effort from your side. Plus you may not get good returns when you actually need money due to adverse economic conditions.

Now that we have covered different types of income, let's focus on how you can earn a passive income from the internet.

I mentioned earlier that in order to generate passive income, you need to put in lot of efforts in the initial stages. But the internet has changed all that and now you can earn a lot of passive income with very little effort from your side. And you can earn all that money from the comfort of your home!

Let's explore the best ways to earn passive income through the internet:

1) Affiliate Marketing - This involves selling products created by others and earning commissions in the process. This requires some effort as you have to identify products that are in demand, then promote and sell them. The trick to earn passive income from affiliate marketing is to identify products that are subscription based so you promote them once and earn commissions every month. There are lots of subscription based products that you can promote to earn regular passive income.

2) Network Marketing - This involves networking with other people and creating wealth together. This type of business typically involves creating your own teams by referring the opportunity to other people and achieving a set of goals. The wealth generated is collectively shared by the team. Network Marketing is a lot easier in online world as you don't have to meet or even call the prospects, the communication can be done through emails. Network Marketing is one of the best ways to earn passive income because once you have a good team in place, you don't have to put any efforts as your teams will build their own teams and your passive income will continue to grow.

3) Blogging and monetizing content - Everyone is an expert in some field. You can use your knowledge and experience to create content that people are willing to read and even follow your advice. You can monetize your blog or website by displaying ads or promoting affiliate products from your site. When people visit your site and click on the ads or buy an affiliate product, you earn money. If you can create good content, this can become a very good source of passive income for you.

4) Online Auction Stores - Online auctions is another way to earn passive income online. This option requires sourcing products, setting up your own stores to sell them and finally shipping the products. eBay is an excellent site to start this type of business. The trick to earn passive income from this opportunity is to automate every aspect of your business. For this you must locate a reliable supplier who can supply the products at the cheapest price and is even willing to ship the products for you. Then you must automate other aspects of your business with the help of tools available on the internet. Do it right and you have a huge passive income opportunity.

We have explored some of the most popular ways to earn passive income from the internet. But these are not the only ones. New passive income opportunities are getting created regularly. It is in our interest to explore and more importantly act when such opportunities are created.

Remember the more passive income sources you have, the faster you'll achieve financial freedom.

About the Author

Anup Mahajan is the creator of PassiveAutopilotIncome.com. If you liked these passive income ideas, why not learn more about the Best Passive Income Opportunity available today? Click on the link to learn more about this passive income opportunity: Passive Income.

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