Top 3 Way to Make Money with Passive Income Online
This is probably my favorite lesson in this 2 week program. We will be talking about ways to make money while you hang out with your family, while you sleep, play video games, travel the world, basically 24/7 365 days a year once it is set up.
All methods take a little bit of cash and time to set up, but once they are up and running… It’s a beautiful thing to watch! Prepare yourself, this is addicting one the money starts coming in.
Let’s Get Started:
1. Affiliate or CPA Marketing
We’ll go ahead and start off with my absolute favorite and honestly this is what I do to make my money. It’s the least risky and requires minimal cash to get started, but once you get rolling, you can see the return on investment (ROI) very fast.
Affiliate/CPA marketing is promoting other people’s products and you get 50% to 75% of the commissions. The only thing you have to do is sign up to become an affiliate through Clickbank, JVZoo or any other affiliate or CPA network, create an online sales funnel and drive traffic to it.. In future lessons, I’ll going into more detail around creating a sales funnel and driving traffic, but it’s a lot easier than it sounds… once you know how it works.
Let’s look at an example, you become an affiliate on clickbank for the XYZ product for $60. Now you drive traffic to the website and every time one of those people buy one, you get $30 to $45.
I know I’m over simplifying the process, but at a high level that’s what it is. You still have to build the sales funnel and drive the traffic there which take time and money to put in place. But you don’t have to worry about the cost and time it takes to develop a product and the responsibility there is for managing the product. Those two things are the most expensive and time-consuming processes of any market.
Most of my future trainings will be around this type of marketing because I think it’s perfect for everyone who wants to make money online
2. Online Dropship Store:
Which a drop shipping store, you will create a website either from scratch or through a company like Shopify. The then have to work with a 3rd party vendor also called a drop shipper to provide the items when you sell them. Basically the customer comes to your store, buys a product, you buy the product from the drop shipper and the drop shipper sends the product to the customer. You never have to hold any inventory or buy bulk product like a normal store would which makes this an ideal online business for a low to medium investment.
This is similar to affiliate marketing, since you are promoting other people products, creating a website to sell from and your main focus is to drive traffic to the store. So a lot of lessons that I’m going to send you can also be used if you decide to go this route.
The difference is, you have more responsibility in this situation. If the product is damaged or there is some other issue with it, the customer expects you to fix it. Either through a refund or working with the drop shipper to replace it. Also you need to pay close attention to what the drop shippers have available. Thankfully there are a lot of plug ins and other software available not to help sync of your inventory with the drop shipper automatically.
3. MLM or Network Marketing
These opportunities get a bad reputation, everyone assumes that an MLM is a Pyramid scheme. They are a lot of very good MLM companies out there and a lot of people making some really good money with them, not just the top tier associates.
The great thing about these companies, is that they are perfect for new commers to the online world. They have very detailed training systems, an established brand name and products, and uplines that are willing to help you. Let’s be honest, your upline profits when you profit, so they are extremely interested in seeing you succeed. Any many times they have already established repeatable systems that you can start with on day 1. Lastly, despite what people think, MLM companies are no long the Tupperware parties. The top sellers are selling like every other online marketer and doing really well at it.
Do your research before you sign up for any of these companies, there are some sketchy ones out there. So if you decide to go this route, stick with one that has a good track record, a product you believe in and continue to grow every year.
Option 2 and 3 are viable options for new people that are looking to make money online, but I can’t say it enough. I think option one is the best because it comes with the least amount of risk and you’re going to learn the online marketing skills you need to create larger online business once the money comes in or it just give you an automated passive cash flow once you get it up and running.
I hope this helps, let me know if you have any questions