In today’s economy it’s a very good idea to generate passive income to supplement or better yet replace your existing salary. Passive income is usually defined as income received on a regular basis, with little effort required to maintain it. However, let’s be clear, creating “systems” to generate passive income takes work and is not a get rich system. Sometimes it involves trial and error and some financial investment.
The Internet is a great place to generate passive income because it can easily be automated. There are two types of people who use the Internet. There are the “Users” and “Providers”. The Users make money for the Providers. Users browse the Web by making purchases, viewing ads, clicking on ads and even creating content for the Providers. Sites like MySpace, YouTube, Facebook and forums are created with content by Users which create value for the Providers.
In order for you to make money online you have to be a Provider. You must offer some type of product or service that Users find valuable. With computers and the Internet this process can be completely automated. Most websites are automated, so once a provider creates a website, it can run on auto pilot with the provider doing little work to maintain it. This is where the passive income comes in place.
One strategy for passive income is affiliate marketing. Affiliate Marketing is promoting products/services that you don’t own or provide for a commission. You register with an Affiliate Company to get an account, which gives you access to hyper-links (via text or banners) to products/services. You take the link and place it out in the Internet world (via e-mail, website / landing page, paid advertising) to send traffic to your affiliate. When an action is taken (sale or lead generation), you get a commission. People have become millionaires doing this!
There are many free resources on the Internet to learn about Affiliate Market. However, if you are seeking an inexpensive training seminar, consider Secret Affiliate Weapon 2.0 – Passive Income Secrets! by Ewen Chia. The course costs only $27.00 and provides a wealth of information in one place.