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Another way to produce passive income is to create a lead generation site. Lead generation sites exist to provide referrals to local businesses.
Therefore, lets say you produced a lead generation website which focuses on real estate. Youd use the website in order to educate individuals about home ownership. Or, youd instruct them about real estate investing.
Within the website youd have links where people could contact you to learn more. When someone contacts you, you refer them to a real estate professional in their area.
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The actual estate professional would pay you for the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.
You could also make money by having advertisers on your site. Note that you would need to understand SEO (Search Engine Optimization) principles in order to make the website successful. Getting your site at the top of search engine pages will be critical to success.
Did you know you can sell your own products on Amazon and have them even send the goods for you I actually have a friend who's done very well with this he earns six figures per year selling his own products online.
You can earn even more money by signing up with a special rewards shopping site. There are websites that will pay you every time you shop at certain online retailers.
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You simply download the websites browser extension and each 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 cover you $10 just for signing up.
Using their double cash back specials, you can double your passive income earnings in the event the proper things go on the market.
Again, your earning plan goes out the window if you buy things you dont need just to earn rewards. Just go on your shopping as usual, and potentially earn a nice cash bonus in the procedure.
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With the explosion of eCommerce, drop shipping has become very popular. Heres how it works: you create an online store that provides products from certain manufacturers.
A person visits your website and requests a product, and then your system sends the order to the particular manufacturer. The manufacturer then completes the order by shipping it directly to the customer.
One of those cool things about this kind of business is that you do NOT need to order inventory. The customer pays for the merchandise; you collect the gains, and also the manufacturer shops and ships the goods to the customer. Its as simple as that.
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If youre interested in starting a drop shipping business, consider using a platform like Shopify to build your online store.
Online classes can be a terrific source of passive income. Heres how they work: you create a value-packed online class which helps resolve a problem or fills a need.
You receive money for the purchase price of the course which you created. A platform for example Teachable can do all of the heavy lifting for you when creating your course.
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Everyday regular people just like you and me are making money on YouTube. Every time someone watches one of your movies, this hyperlink advertisements can appear, and you can earn money from these ads. The key to becoming effective with YouTube is building a large enough subscriber and audience base.
It can take a lot of time up front, however once your videos are live there's potential for you to create passive income from each movie indefinitely.
Granted you will likely not make a living off of just a couple of videos. Be ready to make over 100 movies if you really want this to take off.
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Owning a business can be a fantastic passive income resource. The trick is in having the right people running the business for you. Whether it be through purchasing an existing business or opening a new business, your great business idea can be a viable source of passive income.
Do you want some innovative tiny businesses that you can start for under 100 bucks Then check out the $100 Startup by Chris Guillebeau. All of these are verified businesses that grew to more than six figures per year. And they all began with hardly any money up front.
A successful vending machine business can be a great way to produce passive income. The secret is to find the ideal areas to install your vending machines. Check with smaller brick and mortar businesses. Contact those that have over 100 workers in the building on a daily basis, and see whether they need vending machines. .