The idea of earning a passive residual income is naturally appealing to the entrepreneur in you. While there are many legitimate passive income business opportunities that have the potential to earn residual income, there are also a multitude of scams and misleading information to wade through.
Affiliate marketing is an Internet based marketing business where the affiliate promotes another company's products online. These items can include ebooks, subscriptions or actual merchandise like vitamins. The most common model for affiliate programs is that the affiliate advertiser gets paid a percentage of each sale that comes through his advertisement. You can join an affiliate website like www.clickbank.com for free to find companies and products to promote.
The drawback of affiliate marketing is that you pay for the online ads you place, usually by using a pay-per-click program like Google Adwords, to promote the products. If customers click on your ads but don't buy the products, then the possibility exists that you will lose money instead of earning it.
The Adsense Program
Adsense is the ad program run by Google, where Google places pay-per-click advertisements on your website or blog. Anytime someone clicks on an ad, you get paid for it. However, this is not a get rich quick scheme. It takes perseverance and fresh content to create a website or blog that generates enough traffic and interest to create a passive residual income from the Adsense on your web pages. One advantage of this business plan is that your start-up costs are very low. Most blogs are free to create, and setting up a website can be very inexpensive. There are also plenty of inexpensive ebooks that go into detail about making a passive residual income from Adsense.
Ebooks and Information Products
If you are a writer or know something about a niche subject that you think people would pay for, you have the option of selling your own ebook or information products online. First, what you need to do is write the book. Then, research to find out the different ways of marketing it for sale. You can use the flip-side of affiliate marketing, and sell your ebook by setting up a website for book sales that affiliates can advertise. You can also sell ebooks through Amazon and other large inernet retailers.
Stock Photography Sales
If you have an eye for composition, a decent camera and fancy yourself to be a photographer, there are several stock photography websites, such as www.shutterstock.com, where you can upload your images and get paid whenever a company or individual uses your image. In addition, it is very important to use tags for your images that are relevant and descriptive so that those looking for stock photography can find your images easily when they search for certain criteria.
It's a good idea to pick a method for earning passive residual income that appeals to you. Focus on building one income stream at a time, until you have created multiple streams of income.