This is really a great post, Yaro. Something I’ve really been contemplating lately is how I can monetize my blog but here’s the thing … one of the reasons I had started the blog in the first place was to be a lead generation source. To bring people to my over all business and products. Can monetizing the blog itself through some affiliates go hand in hand with lead gen or are the going to conflict with each other?
According to Uncle Sam, you need to be "materially involved" in an enterprise to earn active income. With passive income, it's just the opposite, as the IRS deems you to be earning passive income if you're not materially involved with a profit-making enterprise. By and large, expect income to be taxable if you are engaged in a passive income enterprise. You will need to report earnings to the IRS.
Once your audience has grown and you have validation that you’re offering them value, there are many ways to create passive income. You could sell digital products like ebooks or courses, take up affiliate marketing in which you promote other company’s products and earn a commission when you sell that item to your audience, build a community and charge people to be a part of it, create software and sell that, among other avenues. Ask your audience directly what would serve them best, or look at what they’re saying on Twitter, Facebook or other websites, to find out what problems they have and how you could help solve them.
Outsource areas your company does not have expertise. If you plan on getting real value out of your Web site, outsourcing its development to the right firm is critical. I would recommend that you find a firm with marketing experience, not just designers and computer programmers. Remember that a designer's expertise is in design, a programmer's expertise is in programming and an Internet marketer's expertise is in Internet marketing.
I was far from blown away by my initial results at affiliate marketing, but I felt at least a little vindicated that I could make some sales. That initial affiliate product was a recurring subscription, so those first five or so sales I made kept bringing in a little over $60 a month, so it was certainly a good start, if less than what I was expecting at the time.
Investing in real estate: Investing in real estate offers more passive income cash potential - but more risk - than investing in stocks or bonds. You'll need substantial amounts of cash to invest in buying a home -- it usually takes 20% down to land a good home mortgage loan. But history shows that home prices usually rise over time, so buying home a for $200,000 and selling it for $250,000 over a five-year time period, for example, is a reasonable expectation when investing in real estate.
What makes enterprise software so interesting? Worldwide enterprise software spending is estimated to reach $280B in 2012. Enterprise applications consistently rank as one of the top technology priorities among businesses large and small. Even in down economies, businesses invest in software to improve efficiency and effectiveness. [source: Gartner Perspective, IT Spending 2012]
Buy a small business: A local small business, like a car wash or a laundromat, is a great way to put money down on a money-making venture. Automate it so you don't have to be on the premises unless you're collecting money. Go into a local business with your eyes wide open - study the books, especially on income and expenses, and examine water and utility bills if your venture will be open 24 hours.
More than 16,000 high-growth and midsized companies and divisions of large enterprises use NetSuite to run more effectively without the high costs and inefficiency of on-premise systems. By using NetSuite to automate operations, streamline processes and access real-time business information anytime, anywhere, growing businesses realize breakthrough performance improvements.
If that’s still too big a commitment for you, you can always rent out rooms in your house on a temporary basis to vacationers. House-sharing services, such as Airbnb and HomeAway, let you offer up a room in your house – or your whole house at a time when you’re away – to travelers who need a place to stay. However, you have to check with your local government first to make sure it’s legal, since some cities have zoning laws or administrative codes that either ban this kind of short-term rental or put major limits on it. Depending on where you live, you may need to get a permit or business license, have your property inspected, and collect and pay local taxes.
That being said, LinkConnector’s platform looks and feels outdated and is rather clumsily designed. Their dashboard also makes it difficult to find “hot” products or compare conversion rates, leaving affiliates somewhat in the dark about which products to choose. Ironically, despite their low-quality website, they offer some of the best customer service in the affiliate space.
LambdaTest is one of the fastest growing SaaS startups in the field of cross-browser testing. If you are looking to make money with best software affiliate program then Labdatest can be best fit for you. Everyone having a website needs to test it for cross-browser compatibility be it an individual or an agency. So, it is an amazing opportunity to be a part of LambdaTest’s software affiliate program since anyone can buy LambdaTest to fulfill his testing needs.