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How to Generate Permanent Passive Income Streams for Life
Copyright © 2006, Eric Gelb
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Last week, I traveled to beautiful San Diego for business and
spent the day in a hotel restaurant that overlooked the harbor.
With laptop in tow and cell phone in hand, I worked, without
hassle.
As the sun set, I took a stroll and it occurred to me that
technology and the crazy pace of our world has caused us to
work 24/7. Life's way too short for that.
But, Passive Income holds the answer.
Passive Income means that you earn money while you enjoy the
beach, golf or the mall.
Pursue these 5 Ways to Generate Passive Income:
1. Real Estate Investing
Acquire a building; then you can collect rent. Other than
maintenance and managing tenants (and you can outsource these
activities if you like), rent is pure passive income.
2. Sales – Good Old Fashion Selling
As a longtime sales professional, I like this flavor of passive
income. Depending on the commission plan, you can establish an
account, close sales now, and earn commissions for years to
come. The key to earning passive income is the "tail." In other
words, once you close an account, how long will the House pay
you commissions?
3. Intellectual Property (copyrights and patents)
As a copywriter, I continuously create written materials. Once
we publish a work we can earn profits for years. Consider my
bestselling booklet '157 Ways to Cut Your Grocery Bill.' We
launched the original edition in 2002, which generated an
instant increase in sales and still rolls in today. Once you do
the work up front, you can earn money for years.
4. Ezines and Electronic Newsletters
My company newsletter, Publishing Gold, includes some kind of
promotion in almost every issue. Sometimes we include the
promotion in the Editor's Note, and other times we include a
Link at the bottom of an article. We also post our most popular
articles on our Website and include the link to the sales page.
These efforts generate effortless passive income.
Even if you are not a writer, you can find freelance writers at
reasonable rates; in fact that is one of the services our
company offers. Writers can create content for you; or they can
ghostwrite, which means you become the author. You can search
for "Freelance Writers" and "Ghostwriters" online.
You can find articles (content) for reprint by doing a search
for "Article Directories," "Ezine Content," "Ezine Articles" and
"Article Libraries." Reprint content that will interest your
audience. Be sure to get permission to reprint first, and print
the author's byline exactly as required (you'll usually find the
reprint requirements on the Websites).
5. Affiliate Programs on the Internet
Today, you can create your own passive income stream by creating
a Website and offering products for sale. You don't even have to
create product; you can license or promote other manufacturers'
or distributors' products. Become an "Affiliate" and then
promote other companies' products on your Site. When your
members, subscribers or associates make a purchase, the company
pays you a commission. With ecommerce, it's easy and there's no
labor involved. All the work is completely automated online
through a shopping cart or affiliate program. And that's a
beautiful thing.
Are you pressed for time?
Short on funds and long on expenses?
Looking to retire early with confidence?
Then Passive Income Holds the Answers for YOU.
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Writer's Resource Box:
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The article on this page is Copyright © 2006, Eric Gelb
You are not required to show the creative commons license
notice when you reprint this work.
This work is licensed under a
Creative Commons License.
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Article Marketing Tips:
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- Stand out from the crowds. Educate your prospects and they will turn to you for more knowledge. When they turn to you for more, they will visit your website. It is up to your website copy to sell your products, NOT your article. Provide great information and at your website, address how the prospect will benefit from what you are offering. Using these things in conjuction will help your cash register to ring.
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