Passive Income can come in many different forms as well as from several different sources. Some sources may take only a few hours to create and bring in a little income each month, while others may take years to create and build. Another characteristic of creating passive income streams is the associated start up costs involved. Anyone interested in building these types of income sources needs to treat them just like they would as a business or personal finance decision. Any associated start up costs should always be factored into your decision making process.
If you were interested in starting your own business, the first steps in your process would be to start your investigation phase into the feasibility of the venture. Those steps would be closely followed by the creation of a business plan to map out your ideas and project your revenue and expenses. A business plan is also usually required to get any type of funding or financing from a bank or lending institution. Creating new passive income opportunities should be approached in the same manner.
While most passive income ventures will probably not require a full blown business plan to seek out capital, it is still important to first investigate each potential idea you have. This investigation will help determine what start up costs are involved with creating a particular passive income stream. It is the investigation of potential start up costs and proper planning that will help determine the success and sustainability of each income stream.
Passive income streams can come with varying start up costs. Some more complex opportunities may require thousands of dollars (if not more) to get up and running. There are others that may even require you to raise capital from a lending institution to start up. While there are several examples that require large amounts of start up costs, there are also many opportunities that cost very little upfront money and some that are even FREE!
Free Passive Income Start Ups
Yes, there are passive income opportunities available that come at no start up cost to you! The majority of passive income streams that are free require lots of your time and hard work to build them into money makers. Most of the passive income opportunities that come with no start up costs involve the internet and the skills to write online content. The assumption is that you already have a computer, internet access, and some form of word processing software.
This form of passive income is recommended to anyone just starting out who wants to get their feet wet. If it turns out that it is not for you, then you are only out the time you spent and not any money. This method is also recommended for anyone who loves to write. Taking a passion like writing and developing passive income streams with it can translate into a very profitable income stream.
Here are a few examples of free passive income sources to get you started.
- eHow – eHow is a great place to start if you are new to passive income. You simply need a computer and internet access and a free account with eHow. Once your account has been created, you begin writing How To articles that have the potential of earning you shared ad revenue in the future.
- Squidoo – Another free option to creating passive income, Squidoo is an online resource available to you. You can generate income by writing content that has the potential to earn residual ad revenue from the company in the future.
- Blogger – Creating a free blog through sites like Blogger gives you the opportunity to create and manage your own content. Once you have an established site, you can begin adding ad revenue sources that will earn you some income along with way.
- Affiliate Marketing – Affiliate marketing takes a lot of up front work but can be an incredible income stream if developed correctly. The concept here is to open up an account with a site like Clickbank to pair up with publishers of a product or eBook. You take those products and being writing content around them that can be submitted to article directory sites like EzineArticles, among others. If managed correctly, there is no associated start up costs involved. I would caution you that there are some basic rules you need to follow if you go down this path. For more information, check out – Bum Marketing
Recap of Free Passive Income Opportunities
The list of free passive income resources listed above is just a short list of available opportunities. There are hundreds and hundreds of money making opportunities available to anyone interested. As noted, most of these free resources involve writing online content for various sites on the internet. The explosion and popularity of the internet has lowered the barriers to entry for passive income creation. It really doesn’t get any better than starting a passive income business with no start up costs other than a computer and internet access that you probably already have!
What other free passive income resources have you started?
Related posts:
- 18 Passive Income Opportunities to use your Tax Refund on
- Passive Income Opportunities – Think Creatively
- How to Jump Start a Passive Income Stream
- Don’t Ignore Passive Savings Opportunities
- 3 Types of Passive Income that Require an Initial Investment
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Once again, great information. I am wondering how you have done on your squidoo sites? I have a couple, but I have not marketed them too much, and consequently have not seen many results on them. But I would like to pick that up again if you have found it to be helfpul.
Steve’s last blog post..Have You Overlooked These 4 Powerful Forms of Leverage?
I have only created 5 lenses so far in my short Squidoo career. These lenses were around a One Week Marketing campaign on Organic Gardening. I am still learning the ins and outs of Squidoo and will keep you posted. What types of lenses have you written?
I’ve enjoyed using Squidoo. My pages have gotten some good Google rankings, but have yet to make me any money. I have not checked it this month though. If I made anything, I’ll let you know!
Brandon’s last blog post..Energy Drink Business
Yeah – I am not sure how their compensation works on Squidoo but I am using it primarily to build links and for affiliate marketing. Any income created from the site would be the icing on the cake!
That makes sense, I’m learning how important links are in this online world! It is hard for me to not look for the immediate gratification of dollars and to realize that those types of endeavors will help the overall goals over time.
Brandon’s last blog post..Should I buy a house?
Hi,
I loved the article and this is the plan I am already following. It is so refreshing to see information like this that doesn’t seek to sucker punch the reader with a another spammy but it now system.
I think going your own way is ideal, and where the truw spirit of the entrepreneur exists.
I have a blog on you may want to take look at.
Thanks,
Mike
Michael Jones’s last blog post..So is there really no real home based business opps out there?
More info please
Great post on starting a free passive income opportunity.. Most people think it cost money to start up a business nowadays but no there are free ones. I am building my income so it can be passive and I will not have to work a 9 to 5 again.
@Jennifer – Sounds like you have the same goals as I do. Starting out, I think the free opportunities remove the barriers to entry for many people so that they are only out their time (which is still valuable).
@John, I do agree with you people do need ways of starting up for free if they are strapped for cash, but are time rich.
If they find a good strategy for example:
Writing an eBook using existing tools they’ve got.
Setting up a blog using Blogger – free blogging software.
Marketing it via article marketing sites, and social media sites such as Facebook, twitter, or youtube, and finding a free payment site they can sign up to.
The can hone their skills and earn some extra cash from this which, they could then later on move into other passive income ventures like an MLM business, an Online Business etc.
However I’ve found that trying to do things for free could take a lot of time, and energy, and I don’t mind investing a reasonable sum to get tools that would work for me.
So it might be worth them getting a second or a third job to save up some money to get their passive income venture off the ground. They probably would get it started much faster… since an injection of Cash mean Leverage.