Passive income is something everyone needsMoney | December 15, 2010 at 6:52 am
I am a firm believer in the qualities of passive income. At its heart, tapping into passive income means that you can cut back on doing extra hours at the office for a few dollars more. And these streams of passive income can be established no matter what your expertise or professional skill-set. But it’s all about having the mindset to be open to the presentation of these opportunities. Hopefully, when it pops up you will recognize it and do a carpe diem, Spanish style! It is important that you have the right mindset for this today.
My favored technique for getting passive income is to establish sites with niche content that attracts a steady stream of traffic over time. With time, this traffic can generate revenues for you by way of advertisements, leads and referrals as also affiliate commissions. With time, I have learned to branch out by investing in real estate and earning rental income or investing in small businesses and having a monthly profit sharing model. But this is just the tip of the iceberg. There are so many other ways out there waiting to be discovered that I don’t know of or don’t have the time to learn of. But then I don’t need to since I am quite happy with the way my multiple streams of passive income are working for me. As yet, I don’t feel the need to grow it and if I feel that I need to generate more I will certainly tap into alternative resources.
I am going to try and mention other opportunities for you to generate passive income, but don’t take these as an absolute. There are plenty of examples that can be taken on beyond these and like any other subject, I suggest you do you research to see what suits you the best. And like always, be open to the opportunity when it presents itself. Musicians can sell their music on royalty free websites, while writers can turn to articles banks that pay per article. Similarly, there are sites that buy stock photos and sell them on for you, giving you your cut of the proceeds. Computer artists can use websites that sell computer generated art to those that want it. Programmers too can sell their code at sites like Envato.
Examples of passive income and its streams are innumerable. I could go on and on but the fact of the matter is that you must pick out something close to your heart or your skill-sets and pursue it when the opportunity presents itself.