Passive Income is the holy grail of Internet Marketers. You can be on the beach, sleeping, out at a fancy restaurant or just sitting in front of the TV and money can be automatically pouring into your bank account! It’s fantastic!
It means you don’t have to be cranking out the hours to get paid.
Wikipedia defines it like this: “Passive income is an income received on a regular basis, with little effort required to maintain it.”
You can finally stop swapping your time for money. There is saying in the dental industry “No Drill – No Bill!!”.
Basically the dentist needs to keep cranking out HOURS to get DOLLARS. Now the dentists hourly wage may be a little better than the average joe – but rest assured he is just a highly paid HOURLY worker. When he goes on vacation he DOES NOT GET PAID!
Think about that. That is really meaningful. Passive income lets you escape that.
So what sort of things can you do to create passive income streams?
Well some of the real obvious ones that are often talked about in the Internet Marketing world are:
- Building sites to monetize with AdSense
- Review Sites for affiliate income
- Building clickbank squeeze pages
- and so on…
One of my favorites though are creating ebooks for the Kindle.
When it comes to traffic Amazon is an amazing source.
If you couple that with the massive growth in e-readers you have almost the perfect market.
Getting your book onto the Kindle is a piece of cake. Amazon’s DTP (Digital Text Platform) makes the the whole process very easy.
And then once you have your book out there you can sit back and watch the money come in.
Then simply rinse and repeat and before too long you can be sitting on a passive income river