PDA

View Full Version : how about some good passive examples..?....



greenoak
02-22-2009, 08:36 PM
i would really like some passive income..
.about the closest we come is a mall booth where someone else does the selling and all we have to do is get it there and fluff it up every week or 2......
...another for us was our years on ebay, all i had to do was gather and price...and all delegated to my dil..
ive seen ebooks but would really hate to have to do anything for 12$....
what are some good ones out there?
ann

tuitionsource
02-22-2009, 08:47 PM
How about creating a video about identifying quality antique furniture? I wouldn't know quality from trash unless it was rickety. What characteristics would I look for if I were to go antique shopping? You could make the video and sell it on the internet. You could also promote your store at the beginning and end of the video.

PS you could also have a video about refinishing antiques.

orion_joel
02-22-2009, 11:15 PM
the closest that i think you will come to a passive income in the respect that i think you want one, (eg limited involvement but a decent return). Is on as tuitionsource mentioned, with some education style video (DVD) to do with your current product range. Or finding more ways to get your products sold without being involved as much.

It really does depend on what involvement you want though, as while you can class some things as passive income, inevitably, there is always some work or time required to do so.

vangogh
02-23-2009, 12:23 AM
Ann I think the video idea TS suggested could be a good one for you.

The idea behind a passive income is to set up something that can make money for you with little involvement on your part from day to day. You might put in work early on, but after that you can mostly let the revenue come in.

An example is a site that runs AdSense of something similar. You build the site, create enough content, and do what you can to get it to rank. Assuming the site pulls in enough traffic you can let it site there and make money for you. Maybe you add an article here or there or spend an hour or two promoting it, but you don't have to work the site too hard.

Another example would be joining an affiliate program for a product or service that charges a recurring fee and also pays you a recurring commission. Some affiliate hosting works this way. You might only get a small monthly payout per signup, but once you have enough you can collect a check each month regardless of whether or not you continue selling.

The idea behind passive revenue is great, but you still have to work hard to get things going. In the AdSense example most people wouldn't have any idea how to get a site to rank well enough to bring in traffic. With the hosting example you might need to get a few hundred or even a few thousand people to sign up before the checks were significant.

Think about what you do and think about ways you can create something once and have it sell over and over again. One reason you see so many people selling ebooks is you only have to create it once and you can sell it over and over again. Some people can write an ebook in a few days. Not all are $12 either. If the information is valuable you can sell it for $100 or even more.

While everyone would love to have a passive monthly revenue in the thousands many people attempt to achieve that by creating a series of things that might only bring in $50 or so a month. Maybe your $12 ebook sells 5 a month and you generate $60/month. So you create another ebook and another and another. Maybe in time you've created 10 ebooks each selling 5 a month and now you're bringing in $600/month. It might not sound like a lot of money, but when you consider it may have only taken 2 weeks worth of nights to create all 10 it's not bad.

greenoak
02-23-2009, 06:50 AM
thanks for the overview vg....
ive thought a lot about passive income too...and im all for it!!!! it sure would be great to find the right thing....but hard...
.i picked up a lot of great info about affiliates on here.......adsense sounds pretty teeny whenever i hear anyones numbers....i do like the ebook idea if i could come up with one..i guess my niche would be rehabbed furniture....and i have lots of pictures of our stuff... .and i have tons of general knowledge but im sure not expert ...... ..so far a big plus from my internet thing is me giving out free info....so pricing it wouldnt feel very natural.... my money comes from the store...so if i give im giving free painting advice on my blog, thats a natural freebie and very connected to sales at the store....people thank me for it a lot,,, my blog rarely hits 100 hits a day, close tho, ...so its not huge, and i dont want a different kind of blog...
any good real world examples not cyber? i dont have a cyber staff...

i would like to find another way to have my inventory bring in more money thru someone elses effort.... thru commissions etc...
i dont have the money for real estate or outside investment...so i need something good with the stuff and skills we already have...ann.

vangogh
02-23-2009, 11:46 AM
I think it gets a little harder offline since any product becomes physical and comes with at least some cost to produce. One idea might be a service contract of some sort. Technically some people will require the service, but most won't. It mostly serves as insurance you rarely have to pay out on.

Even with the blog you could repackage most of the existing content as an ebook and then try selling that. I know it seems strange to sell the same content you're already giving away for free, but some people may choose to buy it. You could also offer a pay version of the blog as more advanced information that includes things like video. I know the idea of charging for something you give away free isn't natural, but there's nothing wrong with it. It's just one of those things that gets easier after you do it once or twice.