As time goes on, the value of having multiple income streams becomes more and lmore apparent to me. The more income streams you have, the less trouble your life will have if one of those income streams goes defunct or experiences a downturn. Thus, I’ve been thinking a great deal about developing more income streams for myself.
So, let’s back up. An income stream just refers to any source of regular financial income in your life. Your job is one. Your pension is another. Rent from an apartment building you own is yet another. Of course, I don’t have the regular time to invest in another job or another high content website at this time, so, for me, the best route to look for new income streams is to evaluate passive income streams .
What’s a passive income stream? A passive income stream is one where, once you’ve done the initial investment, there’s little or no upkeep to that investment
required to maintain the income stream. Writing a book is a passive income stream, for example – once that book is complete and on its way to the publisher, you just sit back and wait for the proceeds. Most passive income streams require some sort of significant investment up front.
Generally, that investment breaks down into two distinct groups: an investment of money or an investment of time. I’m going to stick with discussing the types of passive income streams that I’m interested in developing.
Investing Time
Most time investment usually pairs with an investment of ideas and energy as well. Generally, you’re turning spare time into some sort of item that will provide a steady stream of income over time.
Static websites
Another approach is to simply develop a static website that provides information on a specific topic, then add some sort of revenue-generating mechanism to it – a portal to buy a product of some kind, direct advertisements, or something else.
After that, you’ll keep generating a steady trickle of revenue. Even when you are doing nothing the information you have will continue to sell and ensure the continuous inflow of your steady revenue for a very long time.
To start your path to earning massive passive revenue on the internet, CLICK HERE
Speak Your Mind