Which Passive Income Techniques Are Most Effective?

[acceleratoraccelerator is verified member.]

Why are you researching them?

So I can start using more of them.

 

[scottmccloud]

Which ones are you going to use?

 

[nick-harper]

Affiliate Websites are a decent passive income

 

[ChrisMM]

Running a local protection racket.

 

[HelmutsHelmuts is verified member.]

.. pension


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[web3]

Nothing beats a hands-off ecommerce site if you can think of the right niche and get the traffic.

Move over Amazon, I am will be the new ebooks king... haha.

 

[acceleratoraccelerator is verified member.]

Developing paid courses. Not passive to begin with, but once you've got it set up with the tech it can be.

 

[RSK3000]

A paid membership site with training videos, articles etc.

http://www.matthewwoodward.co.uk/tutorials/start-profitable-membership-site-step-step/

 

[acceleratoraccelerator is verified member.]

A paid membership site with training videos, articles etc.

http://www.matthewwoodward.co.uk/tutorials/start-profitable-membership-site-step-step/

Thanks for this.

 

[HelmutsHelmuts is verified member.]

A paid membership site with training videos, articles etc.

http://www.matthewwoodward.co.uk/tutorials/start-profitable-membership-site-step-step/

.. and how do you plan to compete with youtube, lynda, fb groups, google+ communities and other highly prefered sources with great community? .. ridicilous advice :/


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[martin-s]

.. and how do you plan to compete with youtube, lynda, fb groups, google+ communities and other highly prefered sources with great community? .. ridicilous advice :/

By being an expert. People value expert opinions and training - and a dedicated community too. (Where are we now?)

 

[EdwinEdwin is verified member.]

By being an expert. People value expert opinions and training - and a dedicated community too. (Where are we now?)

It's not "passive", though... For the money to keep flowing, there needs to be a constant supply of new training material, and visible ongoing participation by the expert(s) otherwise there's no reason for users to rebill (which is where the money lies according to the article linked above)

And that material needs to be original/unique, useful and of a very high standard if you're going to keep people happy paying £xx/month for month after month for it. That kind of quality doesn't grow on trees, nor can it be churned out by PeoplePerHour/oDesk/eLance type hires.

 

[martin-s]

It's not "passive", though...

Yes, that's certainly true

Though I suppose access to a like-minded community via the initial purchase of an information product would do it. But subscription businesses are waay more valuable of course.

 

[HelmutsHelmuts is verified member.]

have you considered podcasting? It is quite cheap to start (£500-£1500) a podcast of a decent quality.

The worst scenario >> you haven't spent too much money nor time invested, have built a following of few devoted listeners and have had fun talking about things you like..

I'm not talking about the business that will replace your day-job, but advertisers will come to you as soon you have ears who listen what you say (or maybe even much earlier).

And even if you fail - you can always redirect your listeners

btw, I'm talking from my experience - I have a podcast "Tauta" (in Latvian means "Nation") with irregular upcoming episodes for Latvians in the UK and within short time it has already generated some interest - not much, but still enough to get noticed in this busy, busy world.
> soundcloud page of my podcast https://soundcloud.com/tautauk (you can see the stats there of how many times episodes have been listened to... the ones with very few are solo ones)
> FB page of the podcast (haven't done any promotions to it) - just have a look on involvement https://www.facebook.com/TautaUK
> itunes page of my podcast https://itunes.apple.com/ca/podcast/tauta-latviesi-lielbritanija/id889653157

one of the reasons (though not the main one) I do this podcast is to direct all this highly targeted traffic to the forum I'm trying to build up tauta.uk (and again - a forum for Latvians who live in the UK).

in the end - it is all about Supply and Demand >> once you get it right - you are sorted and domain industry is a perfect proof of that.

I wish you best of luck,
Helmuts

p.s. btw.. in this process I have built the largest clean UK Latvian Facebook group with over than 3.4k UK Latvians https://www.facebook.com/groups/latviesiuk/

p.p.s. .. have to admit - my forum still struggles

 

[humble pie]

I've found for passive incomes I just create and environment with some form of continuous perpetual interactions, then your your sorted probably 99% hands off.

 

[RobMRobM is verified member.]

I think the best passive income techniques now are not internet related. Investment in material bricks and mortar seems the way to go.

 

[acceleratoraccelerator is verified member.]

I think the best passive income techniques now are not internet related. Investment in material bricks and mortar seems the way to go.

Although internet ones are normally cheaper to set up, and may be your only option if you have hardly any money.