Internet Business Blog

Wednesday, January 20, 2010

Is it Possible to Generate Passive Income?

One of the things that many people are seeking online is a passive income. The question is is it really possible to generate income streams that are truly passive? If so, how do you go about doing this?

I've been working from home online full time now for nearly 3 whole years. My income is not fully passive, so I do have to actually put in a few hours every day in order to maintain my income.

, I do have a number of income streams that are truly passive. If I were to go on vacation now for a year, I could still generate a decent portion of my income, without touching my computer.

So, how do you generate passive income?

The first thing you must have if you want to generate income automatically is your own website. Unfortunately it's not just a case of setting up a website and waiting for the money to pour out like a cash machine :-)

Once your website is up and running you need to monetize it with income streams e.g. Affiliate Products (preferably ones that offer at least 50% commission and a residual income) or Google Adsense or Business Opportunities. To improve conversions further you should also set up an autoresponders series and try to capture the email address of your visitors.

Once you have tested your website to ensure that it is profitable you need to be prepared to spend a lot of time over the following months building up traffic to your website. The best way to do this is by optimizing the pages on your site for popular keyword phrases and getting your site ranked in the search engines.

After time, you will find that the traffic is coming steadily to your website and you are generating passive income. Unfortunately the word "passive" for many people is confusing as it indicates that little or no work is required. To generate passive income on the internet you must put in the work initially and be prepared to work at it for many months before you can reap the rewards.

Visit my legitimate business opportunities page to see some of the methods I use to generate passive income from my website.


Internet Business Blog

Tuesday, January 05, 2010

Top Business Ideas for 2010

If you are reading this post I'd like to wish you a Happy New Year and I hope you have a very prosperous, healthy and happy 2010!

It is very common in the new year for people to start something new and of course that includes new online businesses! January is one of the busiest and most popular months for starting a business online.

If you are thinking of starting a new business yourself, be sure to do some research first and ensure that you set yourself a monthy budget that you can afford and some goals for what you want to achieve in your new business.

Remember that like all businesses, an online business takes some time and effort before it becomes profitable. Make sure that you have realistic expectations e.g to build an income gradually over many months and years, not days and weeks. Also be sure to be consistent and spend time on your business on a regular basis. You will have a lot to learn so remember that it is normal to feel slightly overwhelmed at first. Just take your time and pace yourself.

Like many people you may be stuck for a business idea. For this reason I am going to reveal my TOP EARNERS of 2009! Below I have listed the 3 business ideas that made me the most money in 2009.

My TOP 3 Earners of 2009:

1) Affiliate Products - In 2009 I made the majority of my income from affiliate marketing. Affiliate products are free to promote and often pay 50% commission or higher per sale. You can join Clickbank for free and start promoting products straight away. If you want to earn big money from affiliate programs you must have your own website. Choose products that you trust and have preferably used yourself. For maximum income find products that pay a recurring commission (e.g. membership sites, hosting) and/or pay a high commission (e.g. 50%). If you are not sure where to start why not pick a ready made Clickbank website or signup for a $1 10 day trial with the Affiliate Power Group and let us help you build a site.

Cost - The cost of running a website is around $10 a year for the domain name and around $10 per month for hosting + some initial investment for setting up your site if you don't want to do it yourself.

2) Multi Level Marketing - MLM came a close second for me in 2009. Many people are put off MLM because they immediately think "pyramid". But MLM just means that you are paid on multiple levels. This means that you earn a percentage of your commissions from other peoples' efforts rather than just your own. As long as you sign up for a company who is reputable and has a solid product you don't have anything to worry about. My #1 MLM opportunity is My World Plus. As a member you will receive an excellent discount card + the opportunity to promote a product that pays very generous commissions and converts like nothing I have seen before. I earned over $6000 from MyWorldPlus over the last 4 months.

Cost - This depends on which program you join. My World Plus is $20 per month, but it is free to take a tour. My other recommendations are Empowerism and GDI.

3) My Own Products - selling your own information products can be a huge money maker. For me this took a bit of a backseat in 2009 as I was focusing on my own Affiliate Marketing websites and coaching over at the Affiliate Power Group. However my various products on Clickbank including 3 Steps to Search Engine Success continued to sell and provide me with a steady income. If you have a strong interest or a skill in a certain area you may want to consider creating your own information product. It is not as hard as it sounds and you can easily outsource some of the work that you don't want to do yourself (e.g. graphics, sales copy, or even writing). I created my first information product (a travel EBook) back in 2005 with the help of the Internet Marketing Center.

Cost - You have your website costs of $10 for a domain name and around $10 a month for hosting plus the costs of developing the product and your website which can vary depending on how much you do yourself.

I hope this gives you a few ideas for your business in 2010. I would like to wish you all the best and please feel free to leave a comment or contact me if you have any questions!