3 Passive Income Streams To Utilize In 2019

3 Passive Income Streams To Utilize In 2019

Jan 11, 2019, 1:14:48 AM Business

Everyone loves the idea of passive income - streams of money that come in while you do other things. While there are plenty of passive income ideas that don't involve the Internet, there are just as many that do. However, it's important to remember that not all passive income streams are created equal. Some have run their course while others were never very effective to begin with. But there are some that are and will remain a strong investment. These are three passive income streams that will still work in 2019.

Drop Shipping

In a drop shipping business, you do not need to create products yourself or maintain inventory. Instead, you set up a business as an online retailer. You collect the profits when you sell a product and the manufacturer or distributor ships the product directly to the customer. This makes it an excellent passive income stream, and it's a retail fulfillment method that shows no sign of slowing down going into 2019.

As with any retail business, you want to have a niche. Decide what types of products you will sell before you open up shop. Be an expert in these products so you can answer any questions customers may have. Also be sure that you have excellent customer service skills so you can effectively see to the needs of your customers when there is an issue. Having a presence on social media, such as Facebook, Twitter, YouTube and others is beneficial for any business. You can also associate with giants such as Amazon to sell your products directly to customers. LinkedIn is also important if you sell primarily to other businesses because of the strong B2B network there.

Affiliate Marketing

Affiliate marketing is another great option for generating passive revenue. In it, you advertise products you believe in and want to sell. You can post affiliate links on your blog or website and make them look both attractive and professional by using affiliate link cloakers. Whenever a visitor clicks on that link and buys the product, you are paid a commission. If you blog and write engaging content, you can make a nice steady stream of passive income by affiliate marketing alone.

Affiliate marketing is an excellent option for posts where you review individual products in particular. This can be anything from movies to toys to household cleaners. It is a flexible passive income stream and can be used in many different ways. It's usually best to add in a disclaimer if you make money from a promotional sale. You can also post affiliate links in guest posts you write for other sites and blogs (with permission, of course). Look into other ways to monetize your own blog as well, such as with paid advertising and selling products such as books.

Publishing Books

The self-publishing revolution has completely changed how authors publish books and how readers consume them. Of course, traditional publishing will still be an option as a passive income stream in 2019. With self-publishing, however, you get to keep more of the profits and maintain greater control over the end product. There are a number of distribution and publishing options, but Amazon remains the most influential.

There are many different genres to choose from. Non-fiction is a perennial strong seller, as is romance. However, mystery, general fiction and teen lit are all possibilities too. Write what you are passionate and knowledgeable about and market the books effectively. Successful ebooks can pull in serious money even years after they were first published.

There are plenty of ways to make money on the Internet. It's even better if you can continue making money after a one-time investment. If you are looking to grow an online business that generates passive income in 2019, the three ideas mentioned above are still poised to be highly effective.

Published by Andre Smith

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