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There
are great opportunities to make repeat income
from photography.
If
you are interested in photography then this
is a great
way to make passive income.
You can take photos once - and then sell them
time and
time again. This is the best sort of income
avbailable.
Do it once and sell many times.
If you refine your skills and are creative -
then potentially
you could make a significant amount of money
reselling
your photographs. Some sell for significant
dollars online.
2.
Buy an investment property.
Pros: Great long term stability
Cons: You need to be able to manage your
cash flow and
afford the repayments
The majority of millionaires and billionaires
are involved in
property. This is because it is a finiate resource
- that is there
is only limited amounts of it.
If you have a steady job - you should be able
to get a loan
easily. Go to your bank and find out. Then purchase
a property
and rent it out.
Don't just purchase any property. Be smart about
which one
you purchase.
You may be able to find a block of land that
will allow you to
subdivide. This is extremly importnat and could
make a significant
difference.
Look to your local Council and see how they
have the land zoned.
If you have the ability to rezone the land or
subdivide it then you
could be sitting on a gold mine.
3. Register a trademark.
Pros: Could potentially be a gold mine
if you come up with something unique
Cons: Will cost a bit to register and
may not be successful
Ever heard of trademarks? Often you will see
large company
logos with the TM next to it. This means the
name and logo is a trademark.
If you come up with a Company Name and logo
- you could register
this term and then take roalties when a large
corporation may
require it for advertising.
Think of popular terms. An example could be
the term:
"Way Cool Dude"
If you created a trademark and registered it
then should a large
company want to use if for their new advertising
campaign or
prodect you could potentially sell it to them
and recieve roalties
for it. This is a great passive income !
Obviously you need to be creative and be able
to come up with
the correct terminology.
4. Set up a business
Pros: You could make lots if you choose
the right business
Cons: You will have to work hard to start
with and need to be
able to deal with people easily
Getting others to work for you is passive income.
This is going
to be a bit harder to do - but obviously thousands
of people
do this around the world.
Are you up for running a business?
Some things you should do are;
- Create System and let the systems run your
staff
- Be generous and retain staff
- Use Computers to your advantage
- Protect your reputation - this is important
for the long term
- Create a business that is unique - you don't
want to copy
everyone else, this will make it hard to lift
your fees or prices
- delegate as much as you can and delegate to
the most capable person
- Make it fun - otherwise it will turn into
a negative experience
5. Vending Machines and kids rides
Pros: Easy to maintain
Cons: Set up costs can be a bit higher
- will take a bit of
time to get your money back
Have you seen vending machines in shoppling
malls and other places such as gas stations?
These are a great form of passive income. Also
- how about those kids rides you see in shopping
malls? Another form of passive income.
Really - all that is required is to go around
and collect the cash and make sure the rides
are operating properly. These rides can make
some excellent dollars and work for you while
you do something else.
6. Google Adsense
Pros: Easy to setup
Cons: Will take a lot of work and time
to drive traffic to your site
If you have webskills and the ability to be
able to create a website - you could advertise
on your website using Adsense. Adsense is the
advertisments you see on a lot of websites.
http://www.adsense.com
This is a great way to make passive income.
You will need to drive traffic to your website.
This can be the hard part - but if you keep
working at it - overtime it slowly begins to
take shape and could make you dollars for many
years to come.
7. Write an eBook
Pros: Easy to setup
Cons: Finding a unique market and driving
traffic to it will be a fair bit of work
Thousands of people write eBooks. The best thing
you can do is write a unique one that has a
target audience and a market. If you pick the
right market and audience you should be able
to make some great repeat money.
8. Write a digital product and sell online
Pros: Potentially could make great money
in the long term
Cons: You will need support staff and
technical knowledge to get moving
Digital items are fantastic sources of passive
income. All you need to do is create the item
once and then sell it many times.
This could be software
eBooks
Songs or music
9. Network Marketing
Pros: Easy to do
Cons: Has negative connotations about
it
Ever heard of network marketing? Avoid it.
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9 Ways to Create Passive Income