MWM Business HELP
MWM 22
5 Passive Income Streams You Can Start Today I was going to make this sound simpler than it is and say something like, “Just choose one of these 5, get started and start making money!” But you and I both know that any substantial passive income stream is going to take some time and a good deal of effort to build. Still, what is better than making money while you sleep, and then being able to leverage that system to produce more and more income as you like? Here then are my top 5 picks for passive income streams for new marketers and seasoned marketers alike. I will say that choosing just one of these to start is a good idea, since it will allow you to focus and build much faster than if you scatter your attention over 2 or more of these. That said, once one of these is bringing in a decent income for you, then you might want to branch out to a second one and get it up and running as well. And please keep in mind that while passive income means earning when you’re not working, it does not mean you’ll get paid for doing nothing. It’s sort of like real estate. You have to purchase and maintain the real estate in order to receive the passive income of rent. Alright then, let’s get started: 1: Affiliate Marketing The easy part of affiliate marketing is selling other people’s products. You don’t have to create products or provide customer service for products when you’re selling someone else’s stuff. You simply get an affiliate link and send traffic to the offer. And that is the hard part of affiliate marketing – building an audience or getting traffic to an offer. You can either build a following via social media, email marketing, YouTube, podcasting and so forth, and offer those followers products... Or you can experiment with paid advertising until you create a funnel that is self-liquidating, meaning you are making as much or more money as you are spending for the advertising. Once your offer is self-liquidating, you can ramp it up to as much advertising as you can get (that converts) and build yourself a following while simultaneously selling products. 2: Creating Your Own Info Products Just like affiliate marketing, you need either your own audience or the ability to generate traffic to make this work. But in this case you are the product creator and you are handling customer service on your own products as well.
