One of my favorite things about blogging is setting up passive income streams. There are many passive income ideas that float around on the internet but I want to share with you three of my favorite. It is first important to realize that not all blogging income is passive. That does not mean that it is bead an you should not do it. It just means that you should be aware of what requires your time and what does not. Ultimately, you should be looking for ways to get your blog working for you instead of you working for your blog.
If you have followed me or this blog for any length of time then you understand what the purpose of money is for me. Money for me buys time. Time to do the things I enjoy, the people I want to spend time with, and the places I want to go. When I get to the end of my life I am not going to remember the cool possessions I had. Instead my mind will be focused on those special moments and experiences in life. Setting up passive income streams help me to work toward that goal. Here are three of my favorite passive income ideas:
1. Google Adsense – We have already discussed this in detail on the blog, but it is one of our favorite passive income streams. Your earnings can be surprisingly consistent for the most part. It is rare for you to make $100 one day and only .50 cents the next. This was probably one of the biggest surprises to me about Google Adsense. If you can learn to target good keywords in your content that offers solutions for what people are searching for they will read your blog post and click on ads. Sure adsense doesn’t work awesome for every single niche, but I would give it a good try before turning it off. Also, you have to get a decent amount of traffic but as you blog correctly over time you will build traffic to your blog. A rough (very rough) guideline is to earn $200 a month for every 10,000 visitors. Your results will vary, in fact it is possible to make more than that. It is a passive income that I receive every single month in my bank account.
2. Re-curring Affiliate Income – I will cover this in more detail in a future post. Affiliate marketing is when you promote other services and they give you a commission for every sale you make through your link. Re-curring Affiliate income is when you promote a monthly subscription program and they give you a commission every single month that the people you refer stay on. That is passive income that you receive ever month for promoting someone else’s program.
3. Fixed-Membership Sites – This takes effort and work up front but once you are set up you can receive passive income for months and years to come. I adopted this model for a job search membership site that I created. As most of you know, I have been a career coach for quite some time. I recorded several videos using a screen capture software and then sold access to a 18-week membership site. I charged $27/ month but the membership only lasted 4 months. This is what is known as a fixed-membership site. That way people did not feel like their credit card were going to be charged for months to come. I’ll share more details on this blog how I sat this up. It has been awesome passive income for me.
There is a great WordPress Membership Plugin that is one of the easiest that I have seen at setting up a membership site on your blog. It has integrated Paypal nicely into your admin area allowing you to create simple payment buttons and installing them where you want. It also works with all types of mailing list services. You can even set up a free membership option. It will assign a unique login and password so that you do not have to worry with it. I’ll cover more in a future blog post on their site they have several demo videos of what the plugin can do. Start setting up your very own passive income blog today!
Question: What passive income opportunities have you seen or liked? Feel free to share your thoughts and ideas.