Category passive income

Why start an online T shirt business? T shirts never go out of fashion. Well actually they do, but that just makes people buy more of them! According to Bloomberg, online T shirt company Teespring sells over 7 million tee shirts per year, and literally hundreds of private individuals are making over $100,000 per year selling T Shirts online. Some even make over a million dollars! So there is definitely a big market there. From our point of view, as passive income seekers, an online t shirt business fits the bill very well if you use a drop shipping system for fulfillment. That way, once you have created your designs (which can be outsourced if design isn’t your bag), and built your online store, your business requires little or no hands-on intervention in order to operate. Orders are sent directly from your online store to the tee shirt printer, who manufactures the shirt and sends it straight to your customer. Once your store is populated with your shirts, and linked to your drop shipping t shirt printer, all you have to do is to send traffic to it. Order processing, payment, and shipping are all handled for you. Startup costs are very low indeed — almost nothing. A top-flight online store will cost you $29 per month from Shopify (there is a free trial to get you started for free ), and you don’t need to buy any stock. The drop shipper handles that, and doesn’t print your shirts until you’ve sold them. Revenues can be almost instant. Once you’ve created your designs, and setup your store, you can start selling right away. It’s not unknown for the whole process starting from scratch to first sale, to take less than 24 hours. So it’s an attractive business for a passive […]

In previous articles, we’ve looked at what is passive income, some general passive income strategies, and how to find your niche. In this article, we’re going to look at 12 proven passive income ideas that you can use yourself, in whatever niche you choose. These ideas are not either/or options, you could use several of these ideas together in one business. You should leverage your audience and visitors to generate as many income streams as possible. If you provide real value, and people are very satisfied, they will naturally want to buy more things from you. Give them that opportunity! 1- Sell an eBook or other information product online Creating an eBook and selling it as a downloadable PDF is a very simple method  that anybody can use to build a passive income stream. You just have to create a book, or other resource, that is valuable to people in your niche. This could be a tutorial, or how-to guide, a list of resources, a directory, some templates, ready-written letters, a collection of reviews or tips — anything that people would find useful enough to pay for. You could even re-package a series of blog posts, and sell them as a book. This is quite a popular strategy, as people are prepared to pay for the convenience of having everything in one place to refer back to. Maybe you already have some specialist knowledge or skills that other people would like to learn, or you’ve spent a lot of time finding things out that other people need to know. If you haven’t, then if you find out what people need, you could learn it yourself and then produce an eBook about it. Or outsource it and get somebody else to write it for you. A good way to find eBook […]

There is an old Chinese proverb that says “The best time to plant a tree was 20 years ago. The second best time is now”. The single biggest obstacle to your becoming successful in generating passive income streams will be just getting started. Nothing more. Your biggest enemy won’t be technical know-how, or marketing knowledge, but procrastination. And overwhelm. You need to be ready for this and make sure it doesn’t happen to you. You may not be a natural procrastinator, I’m not myself, but there is something about this whole online business thing that brings it out in everybody. Me included. How much do you need to know? There is a huge amount of information available for you to consume. It’s tempting, especially when you’re filled with enthusiasm for this exciting new project, to read avidly every article you can get your hands on, buy every eBook, watch every video, attend every webinar, and sign up for every training course. You keep searching for that last little bit of knowledge to complete the jigsaw, and then you’re going to get started. I know, because I’ve done it myself. What happens is it becomes like a drug. You keep thinking, if I can just learn a little bit more, I’ll be ready to get started. Very soon. Any day now… And let’s not forget, there is a huge industry out there trying very hard to sell you all these things. And they are very good at it. You’re constantly besieged by amazing time-limited, buy now, offers for the latest training that promises everything you need to know to ‘crack the code’ to online income. Here’s the thing, you don’t need to know everything. In fact, it’s not possible to know everything, nobody does. You just have to know enough. There’s […]

In a previous article (What is Passive Income?) we defined passive income for our purposes to be self-sustaining online income that doesn’t require a real-time presence. And we are only interested in passive income strategies that do not require significant up-front capital investment so we are ruling out things like stock market investing, property rental, peer to peer lending etc, as they require substantial capital. Now we’re going to look at some methods of achieving this. Passive income opportunities Although there are lots of different ways to earn a passive income, to meet our requirements they broadly break down into 4 main methods: Selling digital products of your own (ebook, training course, membership site etc.) Selling your own (or somebody else’s) physical products Promoting Affiliate Offers Earning revenue from advertising on your website or blog

Passive income is money that still comes in when you are not actively working. It offers the promise of being able to leave a conventional job, where you trade time for money, and enjoy a life of freedom to work when, and where you choose. Sounds pretty good, huh? Taken to the ultimate, you can potentially spend your time doing whatever you want, whilst your income still rolls in. Whether that’s sipping cocktails on a tropical beach whilst working from your laptop, travelling around the world crossing off items on your bucket list, or simply raising your kids as a stay-at-home parent. Whatever you want. It may just mean the freedom to work for yourself, when and where you choose. One thing it is not, is easy money. Not in the context that we’re talking about here anyway. Building a passive income stream takes a lot of work upfront. A lot of work. But what it then gives you is the ability to de-couple your income from your time. It could perhaps more accurately be called residual income. In a conventional job, you have to put time in to get money out. The moment you stop working, your income also stops. So to maintain your lifestyle you have to keep working. If you love your job, that’s great. But most people don’t. There are probably a thousand things they would rather be doing instead, but they have to work to pay the bills. That leads to the sad situation where most people spend all their time doing a job they hate, just to be able to afford a life where they keep on doing exactly that. And then, after 45 years, they can stop and do what they want for a bit. If they get there. Hopefully, they aren’t too […]

So you’ve decided that you want to build a passive income. You’ve looked at a few different passive income strategies, or ways of earning a passive income, and you’ve seen a few ideas that look promising.

But how do you choose what to do — how do you choose your niche?