"You know what they say: 'Don't work for your money. Make your money work for you,'" Jenna Goudreau, Managing Editor of Make It, CNBC's new site focusing on all things money, tells Bustle. "That's exactly the goal with passive income: By being smart about the resources you already have, an initial investment of effort can eventually earn you money while you sleep."
1. The batting cage idea is very risky. I’ve seen many of them close over the years and it is not anything close to passive income if you want to keep the business going. You have to continually promote it and target youth leagues, coaches, schools etc to catch all of the new players who grow up and want to play. I’ve played at probably 8 batting cages over the years and 7 of them closed.
Zygor is an interesting company. They produce strategy guides in the form of add-ons for World of Warcraft and Elder Scrolls Online. The guides are designed to make gaming much easier, helping people to level and get good gear faster. This is actually powerful, as both games are complex with a large number of quests, which can sometimes be confusing.
Blogs are content-focused websites. However, they deserve special attention because they usually occupy one particular niche, be it a zero-waste lifestyle or DIY tutorials. Bloggers can put banners on their blogs or (what has proven to be more efficient) place links throughout their posts. They can also write about the sales they learn about beforehand, create posts about certain products/services they are using, or provide readers with special coupons and discounts. For instance, if you have a travel blog, you can give your readers information about saving on accommodation and provide them with an affiliate link or coupon for hotel bookings.
What I like about p2p investing on Lending Club is the website’s automated investing tool. You pick the criteria for loans in which you want to invest and the program does the rest. It will look for loans every day that meet those factors and automatically invest your money. It’s important because you’re collecting money on your loan investments every day so you want that money reinvested as soon as possible.
Everything about the business should begin from the customer or the end user. In marketing, understanding the needs, wants, motivations and problems of your customers is an absolutely critical first step. We call this research as building user persona or buyer persona. There are a lot of good resources online to learn this. One of them is listed here:
Actually, yes. I have created a new problem solving model called C.U.R.E Problem Solving ™ 4 Easy Steps found at me site http://daderonan.com and I was planning on using it to address a new niche site for me on nutrition. I am also a big Football fan and seeing that it is #3 on your list makes me think about how I could leverage my problem solving system to Football.
In addition, you must know how much you want to earn by joining affiliate programs. Will it be your main source of income or just an additional one? For the first scenario, you should consider promoting products that are expensive and, consequently, that can bring you a good profit. If you plan on the second scenario, you can opt for affiliate programs that pay for sign ups or affiliate programs that pay daily.