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Multiple Streams Of Passive Income - 4 Online And Offline Strategies

By Raven Michaels

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Published: 19Feb2012
Word count: 991
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Creating Multiple Streams of Passive Income has become an obsession amongst many today. Unfortunately, even though many people understand the importance of it, they are overwhelmed by the information out there and simply do not get started. In this article I share 4 simple ideas that anyone can use to create passive income streams both online and offline .

Write a Book

One thing most people fail to understand is that they all have a story to tell and are experts in at least one area of their lives. Maybe you are very good at DIY projects or are a parent of a child with a learning disability. Maybe you are very good at gardening or create bird houses that you distribute to friends and family. Whatever it is that you are good at, there is a need out there for the information you have to share. So put it into a book and you have an instant source of passive income. All you need is a computer with an internet connection and the willingness to learn to market your product and you are set.

Start a Network Marketing Business

Network marketing businesses are fantastic streams of passive income. While I agree with the fact that the failure rate in the industry is 97%, what most people fail to understand is that they need to work it like a business not like a hobby. This doesn't mean that you need to work 15 hours a day or even 8 hours a day at it, but rather that you should allocate 80% of the time that you spend on the business, doing income generating activities. After a period of time (depending on the speed at which you built the business), you will see that you have growing stream of passive income.

Venture into Affiliate Marketing

This is by far one of the best sources of passive income, if you are willing to spend time researching and learning some basic techniques of affiliate marketing, you will definitely be able to create a very lucrative source of passive income.

Collect Online Shopping Points

This is one method that I use, by switching from in store products to an online store that not only provides me with 'green product choices', but also helps me shave at least 10% off my monthly shopping bill. Further this method also ensures that I have additional money in my pocket, while helping me earn additional shopping dollars for future purchases. Besides all of the above, the company has also helped me earn a reasonable residual income for referring others to the store, thus helping me to develop one of my many streams of passive income.

To learn more about the above strategies and how you can start creating multiple streams of passive income please schedule a free strategy session with me by clicking the link below and I will be glad to share more tips and tricks.

Raven Michaels, provides savvy, sassy coaching to stay at home moms, looking to build multiple streams of income. If you would like to learn more strategies to create multiple streams of income or to learn how you can increase your income while working less, then schedule a FREE strategy session with Raven at http://www.virtualcocktailwithraven.info

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