Happy New Year!
It is not too late to wish this, BUT time is marching on, so it IS time to get busy for this New Year and beyond…
Today, while I wait for my LLC paperwork to be completed so we can completely open the SMART IM Tool program to fellow online marketers, I wanted to add a post on ideas to create a variety of streams of passive for your online business in 2019.
As stated, this is a new year, an excellent time to evaluate where you are with your online business and to start up some new things that will help you build on whatever income you may be earning at the moment from your business. The streams I will describe are all relatively easy to implement.
They also tie into the coming SMART IM Tools brand in a lot of ways, so I will provide some additional links and explain how you can use the tools to start earning more. Using just one or two of the ideas I present can help you do more with less, and that is what SMART IM Tools is all about!
Let’s drill down…
5 Important Reasons Why You Need Passive Income Streams
Here are some points I would like you to consider:
(1) Passive income gives you the freedom to make more money.
You may be like many online marketers – you’re trading time for dollars. you write a post, you promote something, you make some money. Good, but think about this: You can only ever make money doing this when you’re actively working on your posts/reviews/offers.
There are only so many hours in a day, so you will be limited on how much you can scale the business. You also have other responsibilities like family, maybe another job, and sleep. Therefore your income potential is limited.
On the other hand, if you can set up one or more additional passive income streams, there is no cap on what you can earn. You work once to create earnings for months or years to come. That sounds good to most of us!
(2) Passive income streams will provide a much higher ROI for your time.
As mentioned, trading your time for dollars limits the amount of money you can earn for every hour you work. That may seem fair, but there are ways using passive income streams where that $10, $25, or $50 (or more) per hour can turn into twice, three times or more per hour for you.
The reason is that the same work provides you with sales and income again and again over time with little additional work. This is the same concept people use when they look for automation tools so they can do more with the same hours of work.
(3) Passive income over time will help you build your very own “laptop lifestyle.”
Once you have set up a few passive income streams, you are not tied down to working hours for pay. You work more so when you want, from where you want, and the hours you are not working you are still earning! This opens up you being able to design your days and life in the way you have always dreamed of.
Question for you: Do you want to spend more time with the family? Take more vacations? Work from remote and beautiful locations? Try out new sports or fitness activities? Get into hobbies you only have wished to get into? These are all things that are possible if you get some passive income streams in place!
Of course, there is work involved, and you must have an idea of what kinds of passive income streams that are out there for you. This is where this post and the links I provide come in. It is not a push button solution or instant cash in your hands.
Rather, I am going to mention 12 solid passive income streams that you can get in place with some effort required on the front end that require much less effort over time to maintain. All of them will allow you to sell month after month and earn income.
(4) Passive income will allow you to scale up your online business faster.
Remember the whole concept of passive income is that you do the work once, then spend smaller amounts of time maintaining the streams (i.e. fulfilling orders, customer support, etc.). Bottom line is that you will be making more and working fewer hours.
These are hours that you can use to create MORE passive income streams or do as you with outside the business. If you DO spend some of that extra time on additional passive income development projects, you can grow even faster!
If you take some of that extra time and invest it in more passive income streams, you will see that you are able to earn a LOT more, and the free time on the other end will be even greater, because then you can use some of the extra earnings to outsource some of the mundane but important tasks like customer support.
(5) Passive income will provide you income for emergencies.
No one wishes to think about getting sick, or have some tragedy in the family, or perhaps a natural disaster that destroys your way of life. But, these things happen.
If you have established these passive income streams, in spite of the fact that you may not be able to work, you can be making money. That income will help you get through the hard times.
It is kind of like the old adage I grew up with: “Save now for a rainy day.” While you have the capabilities and the time, get these passive income streams in place. They are like creating money in the bank for you.
This can really lower your stress levels when you do have times when you cannot spend the hours with your online business. It just makes sense.
Now let’s have a look at my passive income ideas I have for you…
My 12 Passive Income Stream Ideas for 2019
First, a quick view for you (click to enlarge)
There are 12 that I will cover in this post, but of course, there are a ton more that you could also consider…The important thing is to get started!
(1) Create a Fixed Term/Monthly Membership Site
- Fixed Term: Set up a 3-month course, drip feed content, prerecord sessions.
- Fixed Term: Set up a 6-month course the same way, add in a few live sessions (i.e. 1 x month).
- Fixed Term: Set up a 12-month course with yet more content, add in support groups.
- Monthly Subscription: Set up a training or content site that people can download from as they wish.
- Monthly Subscription: Set up a services site that members can access and use as they need for their online business.
- Monthly Subscription: Set up a tools site that members can access and use as they need for their online business.
(2) Create An Email Evergreen Campaign
- Create a series of emails that support a product you are promoting, have links and downloads set up to automatically provide the product/collect the leads.
- Focus your posts and articles on these products, add lead magnets that complement the products, and add in opt-in and download pages with further links/products.
- In tandem with your membership sites, create an email campaign that will funnel your subscribers to that site.
(3) Launch a Crowd-Sourced Blog
- Look for experts in your niche and ask them to post on your blog. Provide them reasons to do so, like backlinks, advertising, links to their products or services, etc.
- Let it be known that your blog accepts guest bloggers, and you can charge if you have the traffic and authority for this.
- Hire freelancers to create content and use this to create massive amounts of content using keywords that are in demand from the search engines, promote your products in the content.
(4) Sell Licenses for Lead Magnets
- Create and sell lead magnets for members of your niche.
- Make the content unique and up-to-date so it will attract other niche members.
- Offer up-sell services such as adding logos, links, and authorship to the lead magnets.
- Sell complete kits as opposed to only the main lead magnet. Include opt-in page, email swipes, various versions of the lead magnet, other graphics.
(5) Promote Your Own Resell Products
- Look for high-quality resell products that niche members can use.
- Offer them at reasonable prices.
- Offer complete marketing kits as opposed to the main content.
- Offer package deals for multi-product bundles.
- Offer a monthly service of x number of reselling products for x dollars per month.
(6) Create Your Own eCourse
- Tap into your expertise, create a course, sell it using various platforms (social, paid, etc.)
- Use resell products to break up and repurpose into your ecourse.
- Add video training modules you record.
- Add in other supporting materials such as PDFs, checklists, mind maps.
(7) Publish a Kindle or Other eBook
- Use your experience and skills to document in a book and sell the book.
- Have someone write the book for you, edit it prior to publishing.
- Outsource the design and the publishing.
(8) Set Up An Affiliate Program for Your Products
- Offer a great affiliate program to kick off your program.
- Consider 100% commission for the Front End product, collect leads, and make money on the upsells.
- Run contests for best affiliate results, add in special commission for best performers.
- Advertise your affiliate program on the social sites.
(9) Partner With Another for an eCourse
- Offer to help promote, work on one area of e-course another person may have created for a portion of profits.
- Buy rights to resell a course that is selling well in the niche you are working in.
- Do a JV with another creator that may have more experience, learn and earn, ongoing.
(10) Develop WordPress Plugins or Tools
- Develop tools that will help bloggers or store owners using WordPress as a platform for their websites.
- Outsource the creation of WordPress plugins that people are looking for.
- Develop themes or templates that niche members are looking for.
(11) Start An Outsourcing Service
- Determine what services that niche members are looking for, offer these services.
- Use international sources for VAs.
- Charge 2-5 x your cost for services offered.
(12) Open A Digital Store
- Sell your own products, tools, or services.
- Sell digital or physical products for more than your cost, pocket the difference (i.e. drop-shipping)
- Offer videos, intros, outros, apps, or products using an online store.
Why These Passive Ideas Over Others?
I have selected ones that are quick to get in place, ones that have proven track records, and ones that anyone can do, whether they are new to online marketing or seasoned veterans. Many of these I am involved in myself, actually!
If you work on one or more in addition to whatever else you may be doing with online marketing (i.e. affiliate marketing), you will see the fruits of your labor within a short time. It will help you stay motivated and also help you give up the day job!
Resources for You:
Here are some resources I have for you that will help you get started or get more ideas. I do hope one or more will be ones you will want to tap into!
(1) Membership Training Sites
If you are wanting to explore these ideas more, please have a look at some of these free membership sites I have for you where you can get more quality training. You will have to provide your name and email so I can add you to membership sites, but there is no cost involved.
Note that these courses will help you plan on just how you will deploy your passive income stream…
Affiliate Profits Club
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Synopsis: Good insight on getting a viable affiliate marketing business off the ground. Normal price $27.
Membership Marketers Club
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Synopsis: Great course on all things membership. You will have a clear idea on how to proceed! Normal price $27.
Product Profits Club
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Synopsis: Great course on how you can create and sell your own products quickly. Normal price $27.
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Synopsis: This will provide you new insights into marketing online. Lots of ideas and tips. Normal cost $27.
Power Copy Club
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Synopsis: Learn how to write good copy. This is a skill that can be learned, but many are reluctant to get started. This course will help to teach the important points. Normal cost $27.
Success Upgrade Training
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Synopsis: Learn how you can generate success faster. There is a mindset that will help you cut to the chase and avoid pitfalls that others must deal with. Normal cost $27.
Traffic Generation Club
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Synopsis. A great course chock full of tips, tools, and training on how to generate more traffic to your pages, offers, and blogs or posts. Normal cost $27.
Next, we have…
(2) SMART IM Checklists
If you are already set on one or more passive income sources, consider the training and checklists I have available for you. Here is a review of what we have that will definitely help you get started and stay on track:
(3) SMART IM Lead Magnet Kits
Perhaps you want to speed up the growth of your passive income program? If so, we have some lead magnet kits that may be of interest to you here (I and my team author and publish these kits):
(4) Wealthy Affiliate Platform
If you are looking for affiliate marketing learning and deployment platforms where you can learn and have access to numerous features and tools to include 25 free websites that are secure and fast, check this site out (I am a member). You can try it out for FREE for 7 days (no credit card required):
(5) Builderall Online Business Platform
Lastly, perhaps you are looking for a platform where you can quickly create sales pages, videos, have access to an unlimited autoresponder, and training, see this tool (I use it too):
These resources should be more than enough to generate a LOT of ideas and provide you some useful tools to get started with your passive income streams in 2019.
I have given you some ideas in this post and I do hope that they will help you have more success in 2019. There are so many ways to make a living online, but it helps to have some good sources to speed the process up. Also scams and etc. are prevalent still and I want you to be led in the right direction.
We have a membership site called SMART IM Tools Academy that is opening soon. I will include the link when it opens, please also check that out when added. It will provide a whole arsenal of useful tools that will help you get some passive income streams in place at a very reasonable price!
Cheers and all the best for the New Year! Let me know below what your choices are for passive income streams, and also ask any questions you may have! I check the site a few times a day and get notified no matter where I am or what I may be doing when I get a new comment!
Dave : )