Passive income is the goal of most every work from home entrepreneurs and with good reason – who would not love making extra income while they are pretty much doing nothing? Passive income is how a large number of work from home owners get rich in the first place. If your business can drive profits without you being there, then it is like having a sales team twenty four hours a day. Here are three top ways that work from home owners build passive income effectively:
Article Writing (writing/page views/advertising income)
Article writing is a very effective way that you can build passive income online. Whether you are an expert or a brand new writer, this is an excellent way to make passive income online. Throughout the web there are article sites that will pay you either for upfront submissions (such as AssociatedContent.com) or for page views and/or revenue sharing. (Ehow.com and Hubpages come to mind) These sites are only one way to generate passive income from writing articles. You can also use this in conjunction with the next two ways to build passive income.
Affiliate Marketing (affiliate income)
Affiliate marketing is the number one way to make passive income quickly, and the best part is it generally does not cost anything to do. If you are willing to tout other people’s products and send them traffic, they will then pay you for your efforts. With Clickbank, for example, you can sign up and search out the highest paying niches and products. This allows you to make the most bang for your buck, and there is plenty of money to be made. Affiliate marketing is great because once you place a link or article out there with an affiliate link, it keeps on earning for you as long as it is being read. That can be a very long time.
Website Building/Blogging (advertising income)
One of the most effective and dependable ways to earn passive income in a work from home environment is building websites and blogs. This is great because there are so many ways to make money off of them. You can use the affiliates mentioned above, Adsense, and even sell advertising space to other companies that are in your niche. All of these combine to create the perfect storm of passive income for your future. Each of them can certainly work on their own merits, but it is much better when you combine them. Website building can also be used to sell your own products effectively – giving you yet another passive income source.
If you notice, each of these three things works in conjunction with the others. If you combine them and do all three, then you can maximize your work from home efforts. This is vital to your long term success, because everything you do builds on the past. You do not want to spend oodles of time wasting your energy, so dedicate yourself to setting up a schedule. Stay regular with your work, and you will see your passive income grow from month to month. Who knows? One day you just might be rich!