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Micky Gramlin   My Press Releases

20 Passive Income Ideas by Annie Pilon Part 2

Published on 1/17/2019
For additional information  Click Here

 

Image result for passive income

 

 "Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it. The U.S. Internal Revenue Service categorizes income into three broad types, active income, passive income, and portfolio income." Wikipedia

 

 

20 Passive Income Ideas for Entrepreneurs

by  Annie Pilon

smallbiztrends.com

January 7, 2019

 

Passive income is a business strategy that allows you to sell products or services on auto-pilot, so you can essentially earn money without doing extra work. It is understandably becoming increasingly popular with entrepreneurs who want to support a comfortable lifestyle without working seemingly endless hours.

Passive Income Ideas

If this sounds like an attractive option for your business, here are some passive income ideas that you can either add to your existing strategy or form an entirely new business around.

Informational Product Sales

You can also sell instructional or informational products in other formats. Create guides, tutorials, workbooks or even audio content that you can sell and then automatically deliver to customers once they’ve purchased.

Self-Service Kiosks

You can also sell physical products in a passive way by using self-service kiosks. These can include vending machines, self-serve coffee stands or even arcade games with little prizes. You just need to refill them every once in awhile, but it’s much more passive than other businesses that sell physical products.

Mobile Advertising

If you have a physical location or vehicle, you could add an advertising space to your revenue streams. Simply make those spots available for display ads for other businesses.

 

Image result for passive income

App Sales

If you’re tech savvy or have a great idea for an app, you can create it and then make it available in various app marketplaces. You can earn money from selling those apps, offering in-app purchases or even taking on advertisers within your app.

Storage Rentals

If you have a physical location available, you can offer some of your space to customers for self-storage. You still may need to provide some maintenance to the property. But customers can manage their own units.

Membership Sites

If you want to stick to an online business, you can set up a website with various content or helpful resources available. Then have customers pay a monthly fee to access your content or community features.

Dropshipping

If you want to start an ecommerce business, use a dropshipping service to actually fulfill and process the orders. So all you really need to do is set up the shop, and platforms like Amazon can help you get found without much marketing.

 

Image result for passive income

Real Estate

If you have access to real estate or the ability to buy any, you can hold onto it as an investment or even rent or sell the property to earn a profit.

Outsourced Businesses

Even if none of the other ideas really sound like they’d fit with your business, you can make your own company a bit more passive by outsourcing as much of it as possible. Simply stay in the visionary or decision making role and bring on other team members to handle all of the day-to-day tasks.

Investments

Or you can simply take any profits from your business and add it to passive investment accounts like index funds. Leave your money there for years to yield the best possible results.

 

This was part 2

Thank you for stopping by!

Micky Gramlin

mickygramlin.codeblue@mail.com

 

Image may contain: text

DigitalWorldConnection.com

 

Source

smallbiztrends.com

Picture Source

Google

Annie Pilon 

Annie Pilon is a Senior Staff Writer for Small Business Trends, covering entrepreneur profiles, interviews, feature stories, community news and in-depth, expert-based guides. When she’s not writing she can be found on her personal blog Wattlebird, and exploring all that her home state of Michigan has to offer.

 

 

 

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