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In most cases, product vendors require you at least have some solid online presence before they approve your request. Product vendors do get scammed too, so they tend to be pretty careful when it comes to approving affiliates.
If you find it difficult getting approved on a network, it’s best to establish your online presence first by building your own website or blog, and letting it age for a few months before re-submitting your application.
When your application gets approved, and you create valuable content around the affiliate product, then you can pretty much get passive affiliate marketing income for as long as the affiliate product is available.
Sell eCourses and Info Products
If you are an expert in a particular subject, and you want to share your expertise with the world, then you may want to create your own course and info products. However, if you don’t have specialized knowledge in anything, don’t fret.
It’s not the end of the world. You can still sell eCourses and info products even if you don’t have first-hand experience in any subject!
You’ve got two options basically.
First is you take the time to learn the subject, research it thoroughly and then apply what you’ve learned when you create your course.
The second option is to just outsource the content creation to someone who actually knows the subject.
There are plenty of freelancer-for-hire platforms. You can go through any of them and place an advert for a qualified freelancer to come help you out with your project.
The great thing with selling your own course and info products is that you can set your own price. Unlike affiliate marketing where your commissions are capped at a certain percentage, selling your own products allows you to put your own price tag! If you think your course is worth $197, then set that price.
If you think $17 is a suitable price, then by all means choose that price. For best results, however, you should, of course, do your own research to find the best price for the product you’re offering. Look at what similar products in the same niche are priced at. Check out what your competitors’ prices are and go from there.
To boost sales, you may want to consider creating an affiliate program so other people can help promote your product. If you offer your affiliates a good share of the profits, you’d have plenty of applicants knocking at your virtual door.
While you may think it’s not such a good idea to share your hard-earned profits with other people, just think of it as hiring salespeople to promote your product for you. You do still get to keep a certain amount for every sale your affiliates make, so it’s still a win-win situation for everyone!
3. eCommerce Store
eCommerce has been all the rage these days. Probably the most popular eCommerce stores you see are those businesses that promote their products on Facebook and Instagram! You’ll see plenty of these businesses advertising their wares and services on your newsfeed.
With eCommerce, you can basically sell anything you want. You can sell your own products and services, you can sell affiliate products, you can do dropshipping, and so much more. Your options include selling things from your own website or using a third party platform like Shopify to simplify the business side of things.
You can have a brick and mortar shop, but also sell your products on your own website, or even list it on eBay and Craigslist. The possibilities for eCommerce are nearly endless.
A great advantage of eCommerce is that your business is open 24/7 and you can sell to anyone in the world, if you so choose.
If you’re selling physical products, you’d have to factor in shipping costs and delivery times to your price. But for digital products, eCommerce provides a platform where vendors get paid instantly, and buyers get access to their purchase in mere seconds.
eCommerce businesses are also much easier to scale than brick and mortar businesses. With eCommerce, you can simply add your products to another platform or duplicate your current website, and you’d have a new income stream on your hands.
While eCommerce is a great source of online revenue, not all eCommerce businesses provide passive income. In fact, for most stores you’d need someone to handle the orders, ship products (if you’re not dropshipping), provide customer support, and so much more. However, once you reach a certain level of success, you can pretty much build a team to work on your business and just manage it from afar!
You can train your staff to handle all aspects of your business – from sourcing products to fulfillment to customer service – everything really. If you take good care of your employees, they’ll take good care of your business. Once your team gets the hang of your business, they’ll work like a well-oiled machine providing you with a hands-free passive income stream!
4. Service Providers
For this type of business model, you can literally earn passive income from any type of service. How? By outsourcing the work! This means you’d only need to find clients, customers or buyers, and you let someone else do the job for you. While this may not sound like a passive business model, hear me out. Check out this example: For instance, if you have an agency selling writing or designing services, you can set up a website with your portfolio on it and promote it to the world. When people buy your services, you hire out the work to a freelancer.Other Details
- 10 Articles (TXT, DOC)
- 1 Ebook (PDF, DOC), 10 Pages
- 1 Audio (MP3)
- 4 Graphics (PNG)
- 1 Salespage (HTML)
- Year Released/Circulated: 2021
- File Size: 4,467 KB
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