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In case you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site host a company that stores your website on servers so it can be viewed on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.
Affiliate marketing can be a terrific way to produce passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost to them. All they need to do is purchase a service or product.
Another way to produce passive income is to make a lead generation site. Lead generation sites exist to provide referrals to local businesses.
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Therefore, lets say you created a lead generation website that focuses on real estate. Youd use the site in order to educate people about home ownership. Or, youd instruct them about property investing.
The actual estate professional would cover you for the lead. Its a hot lead and not a cold encounter, so professionals are more willing to pay.
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You could also earn money by having advertisers on your website. Note that you may need to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your site near the top of search engine pages will be critical to success.
Did you know that you can sell your own products on Amazon and have them even ship the goods for you I really have a friend who has done really well with this as he makes six figures per year selling his own products online.
You can earn even more money by signing up with a distinctive rewards shopping website. There are sites that will pay you each time you shop at certain online retailers.
You simply download the description sites browser extension and every time youre on an e-commerce website thats qualified for cash-back, youll get a notification. I use a free website called Ebates, which will pay you $10 just for signing up.
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With their dual cash back specials, you can double your passive income earnings if the ideal items go on sale.
Again, your earning plan goes out the window if you purchase things you dont need simply to earn rewards. Just go on your shopping as usual, and potentially earn a nice cash bonus in the procedure.
With the explosion of eCommerce, drop shipping has become very common. Heres how it works: you create an online store that provides products from certain manufacturers.
A person visits your site and requests a product, and then your system sends the purchase to the particular manufacturer. The manufacturer then completes the order by shipping it directly to the customer.
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One of the cool things about this type of business is that you do NOT need to order inventory. The customer pays for the merchandise; you collect the profits, and also the manufacturer stores and ships the goods to the client. Its as simple as that.
Online courses can be a terrific source of passive income. Heres how they work: you create a value-packed online course which helps solve a problem or meets a need.
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The course can include videos, e-books, and emails with pertinent information. Customers sign up to purchase the course, and your system automatically emails them everything they need to get the materials.
You receive money for the purchase price of the course which you just created. A platform for example Teachable can do all of the heavy lifting for you when creating your course.
Everyday regular people like you and me are making money on YouTube. Every time someone watches one of your videos, ads can look, and you can earn money from those ads. The key to becoming effective with YouTube is building a big enough subscriber and viewer base.
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It can take a lot of time up front, however once your videos are dwell there is potential for one to create passive income from each video indefinitely.
Granted you will likely not make a living from just a couple of videos. Be prepared to create over 100 movies if you truly want this to take off.
Owning a business can be a fantastic passive income source. The key is in having the ideal people running the business for you. Whether it be through purchasing an existing business or opening a new business, your good business idea can be a feasible source of passive income.