Automated income streams are the perfect solution for those who want to build a profitable online business. Even though you can’t completely automate your business, there are a number of things you can do to create long term passive income.
Spend an hour or two every day working on new projects to build additional revenue streams. Join affiliate networks, set up multiple sites, or simply find new ways to monetize your blog.
Automated Income Streams: How They Can Work For You
From building membership sites to promoting affiliate products and selling eBooks online, there are plenty of ways to create additional income streams. When you have multiple sources of revenue, you won’t be affected as much by the loss of a client. Building automated income streams is definitely the new “job security.” For example, you can add a new section on your website. Provide useful information and tips available to members only. Request a membership fee. If your site is valuable to your prospects, they will pay the fee to gain access to more information.
Are you an expert in your niche? Do you have specific skills? You can build automated income streams by teaching online classes. Let’s say you’re an Internet marketing expert. Create a series of courses, workshops, and webinars related to this topic. Encourage your prospects and social media contacts to subscribe to your classes for one, three, or six months. This is a simple and convenient way to create automated income streams with minimum investment.
Automated Income Streams: Ways to Generate Revenue
Analyze your skills and try to figure out how you could use them to create automated income streams. If you’re familiar with a particular topic, start writing an eBook. You can sell it on your site or blog, as well as on Amazon, eBay and other online platforms. Every time someone buys your book, you’ll receive money. It’s a one time investment that pays back over many years. You can either hire a ghostwriter or handle the project yourself.
Another simple way to generate multiple income streams is to start a blog. As soon as you add a few posts, you can monetize its content and make money online. For example, if you have a diet blog, promote weight loss products and sell advertising space. Write product reviews to increase your chances of success. Over time, you can create your own digital products and sell them on your blog.
Top 5 Automated Income Streams
So before I finish today I wanted to share with you my favourite five automated income streams of 2013. So that you can then look more closely at your automated income streams and think about where you want to be with your site.
#1. Sponsored Tweets – I love sponsored tweets and what it involves is for people to pay for advertising on your twitter account. They even put the tweet on for you and then you withdraw the money from your PayPal account.
Simple and very good way to make money if you have a large Twitter following!
#2. Amazon Kindle – I am sure you are sick of reading about Amazon and how its one of my best income streams BUT it is. And the Amazon Kindle is my favourite part of it. I can load an ebook onto the Kindle and watch it grow and grow and grow. The sales keep coming and the only thing I hear from Amazon is the notification that a payment is on its way to my bank account.
#3. Amazon Associates Programme – Now carrying on with the Amazon theme you have to love the Amazon associates programme and the way you can make money as you sleep.
I will get first page SEO positions on Google then watch as my reviews of famous Amazon products make me money as I sleep.
I have a whole variety of products that I promote your recipe books to kitchen appliances and all of them do well and add to my monthly income.
Because you can set it up and forget it very much is an automated income stream.
#4. Recurring Products – As a product owner and as an affiliate I love a recurring product. The more the better and its so satisfying that a bit of work you did last year is still bringing in cash into your bank account.
When I am looking for affiliate products to promote I either go with ones that are a high ticket individual item or ones that are recurring.
For me as an affiliate there is no in between!
#5. The Sales Funnel – What is there not to love about a fully functioning sales funnel that affiliates drive traffic to and you make money while you are sleeping_
Well they are my favourite income stream by far and I am often building new sales funnels and improving the ones I have so that I can make the most out of them.
Just think about what you want the end result to be with your own mailing list and work with it!
Here are just a few examples and if you can just make one of them work for you then you will be onto a winner. Then the spare time you will have from being more passive can be put into more passive income streams. Or like I did yesterday have a day off and head to the beach.