This article was written by personal finance writer Timothy Ng from Sydney, Australia. He is genuinely passionate about helping people compare credit cards and helping them through researching to find the best credit card.
In these tough economic times many people wonder how to earn passive income at home. When you consider the global economy, the growing job reductions, and the fact that a lot of companies are downsizing their operations to keep their business afloat it’s no wonder that we are looking for a better, and easier way to live. But it is easier? That of course depends on the income opportunity you pick, and how dedicated you are to your business growth.
Let’s look at some of the most popular options for home-based business opportunities.
Writing as a Freelancer
One of the quickest ways to earn passive income from home is as a freelance writer. There are a multitude of opportunities out there and finding paid writing work isn’t hard if you really want to work. The following websites can help you find work, or earn income as soon as this week:
Demand Studios
Demand Studios are the company behind the popular eHow.com websites. Powered by freelancers who work from home, the content on these sites is directly outsourced from DS to these writers. Earning good money is quite possible if you intend to work for these guys, the hardest part is getting accepted into their fold.
Having said this, it is worth an application because you earn decent money and based on your writing speed you can increase your income accordingly. The passive income stream starts once you employ writers in your team. Once you build up a reputation, and a good stream of steady work you can outsource some of your workload to other writers while keeping some of the pay for yourself – this is where residual income really powers up your income stream.
Hubpages/Squidoo
Both of these platforms are well known web 2.0 properties that allow you to set up web pages of yourself based on a specific niche topic. You can earn residual income by placing eBay ads, Adsense ads and Amazon ads on your “hubs” and “lenses.”
These sites won’t earn you a fortune overseas. In order to build up a steady residual income stream to make money from home you’ll need dozens of high ranking hubs and lenses. But having said this, it is very well possible to do this with some elbow grease.
Savvy marketers outsource the creation of these pages for around $50 and then do the promotional marketing to drive traffic – and income.
Associated Content
Associated Content pays you to submit articles. A lot of writers try to keep away from them because on first look you don’t get paid much for your work. However, AC has a clever payment structure, based on levels (clout levels).
The base payment rate is $1.50 per one thousand views. Once your clout increases through exposure, your income will go up. This can quickly lead to a good, steady income stream, especially if you write a lot of articles and then do some promotion to drive traffic to them.
Passive Income as an Affiliate Marketer
Affiliate marketing is a popular income stream. Sadly though, most people never earn a dime, despite their eagerness to do so. Successful affiliate marketing requires knowledge in search engine optimization, and the ability to drive traffic to your sites because the money is ALWAYS in the numbers. The more traffic that hits your site, the more sales you stand to make. It’s a numbers game, as so many other markets are too.
Affiliates market other people’s products and services through their websites and pages. You can become an affiliate for Amazon, eBay, or Tom’s jam shop down the road. Affiliates help businesses increase their revenue while earning themselves money (a commission) for their efforts. It’s a win-win situation, provided you do make this work for you.
Passive Design Income
Designers, and graphic designers have a huge opportunity at their feet right now as every Tom, Dick and Harry is looking to get online. A lot of income is being earned right now by savvy marketers who happen to be talented in the design stakes as offline businesses are looking to capture some of the online traffic.
Build Your Own Sites
If you have a knack for knocking out websites after websites that rank high in Google, then the best way to earn passive income is with your own sites because you keep all the money. Even better is when you can design your own information products and then sell them in a highly optimized sales funnel that will sell for you on autopilot.
Below are some of the popular platforms to build sites with:
WordPress.org
Self-hosted WordPress blogs are favored by many marketers because of WP’s in-built SEO capabilities. These blogs naturally rank very well and with some optimization techniques you can dominate your niche in next to no time.
Just install WordPress, add high quality content, publish and add your revenue streams.
Blogger.com
Blogger is a popular platform owned by Google. Due to its owners, these blogs usually rank well without having to do major promotions, especially if they are keyword optimized. Having said this, you risk losing your whole site network at a moments notice if you don’t invest into your own domains to host them.
People with no money tend to favor taking the free option where they simply leave their blogs with Blogger. Big mistake!
XSitePro
My favorite among the lot, simply for the fact that it is so easy to build sites with, update them with a few clicks and publish from right within the software. A hot contender for WordPress, this software also features great in-built SEO capabilities.
It takes a good plan, some hard work and dedication to build your business to a level at which you can consider outsourcing your work to start earning passive income. Remember, passive income is just that – other people do the work for you. You orchestrate and oversee the operation to keep control of it.
Related posts:
- 6 Ways to Earn Income from HubPages
- Earn Passive Income Writing for Constant Content
- Earn $167 in Passive Income per Day – Breaking Down the Numbers
- What is Passive Income?
- Top Passive Income Streams You Should Consider
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Modern-day freelance writers should also consider correct Web 2.0 Freelance Blogging methods. It involves time and effort, but the end result is enough AdSense revenue to subsist on as a freelance writer: * Blog often. * Write separate articles about your topic to submit to sites that accept articles (GoArticles.com, for example); the articles provide important back-links to your blog. * Quote and link to subject matter experts from within your blog. *Also post comments at blogs that allow comments (like this one), specifically for the additional back-links. * Lean toward maximizing AdSense placement, without overkill; in other words, placing AdSense ads at the top of blog posts between title and text will maximize exposure, but you are only allowed a certain total number of AdSense ads. * And, finally, don’t give up because it’s not a scam and it actually works over time. SK