To earn a passive income, all you need to do is set up a system that allows you to sell products without having to put in any work to create and deliver the products. That could mean that you’re selling a digital product such as an eBook for example, or making money from advertising.
Making money while you sleep or travel the world might sound like a dream to a lot of people. This can become a reality thanks to the power of the internet. Here are 4 passive income business models.
1. Sell an eBook
Creating an eBook is a simple matter of choosing a subject and then writing about it in a Word document. You can then save that document as a PDF file and start selling it from your website. If you don’t have the necessary writing ability, knowledge or patience to write an eBook though, then you can simply outsource this process.
2. Sell a Kindle eBook
You can simplify the process of selling e-books too by selling through Kindle. Kindle is the name of Amazon’s e-reader device and this also comes with its own store where users can find and download books. This makes it a highly effective distribution platform, meaning that it’s a very easy way for you to find customers, sell to them and deliver your product. You don’t need to worry at all about marketing, about handling payment or about delivering the product.
3. Sell an App
This works just the same as selling a Kindle book, in that you have access to a ready-made distribution platform with a large, captive audience. And if you sell your app on Android, then you’ll only need to pay $30 to sign up and your app will be automatically approved in a matter of hours.
4. Niche Website
If you can get enough visitors to a website, then you can use this as a means to turn a profit from advertising. Use AdSense and each time a visitor clicks an ad, you’ll get a tiny payment (usually of a few cents to a dollar). If you hire writers, or if you create an evergreen resource, then this can work well.
4 Tips to Make Money with Ebooks
Write your own ebook. You need to write your own product. The best thing to do is read what others have written in similar products and make those even better by rewriting it and adding more great content.
Sell on eBay. Something that many people have been doing lately is selling their products on eBay. eBay is a huge online auction where you can sell 10, 20 and even hundreds of ebooks daily.
Get affiliates to sell for you. Getting affiliates to sell for you is a great way to make money without having to do much. There are many great affiliates out there that would love to promote a great product as long as it appeals to their readers, you just need to find them and ask them to promote your product.
Promote. The last thing you need to do is to promote your ebook on blogs, forums, article directories, Amazon, and wherever else you can think of. If nobody knows about your product nobody will buy it. You always need to be thinking of new ways to promote because it is the people that find the new paths that get ahead of everyone else.