WIXLIB

How To Create Multiple Streams Of Passive IncomeTo Get Paid While You SleepULTIMATEPASSIVEINCOME

ULTIMATE PASSIVE INCOMEDisclaimerThis eBook has been written for information purposes only. Everyeffort has been made to make this eBook as complete and accurate aspossible. However, there may be mistakes in typography or content.Also, this eBook provides information only up to the publishing date.Therefore, this eBook should be used as a guide - not as the ultimatesource.The purpose of this eBook is to educate. The author and thepublisher do not warrant that the information contained in this eBook isfully complete and shall not be responsible for any errors or omissions.The author and publisher shall have neither liability nor responsibilityto any person or entity with respect to any loss or damage caused oralleged to be caused directly or indirectly by this eBook.1

ULTIMATE PASSIVE INCOMEThree Powerful PassiveBusiness Models - A Five Minute GuideDo you like the sounds of making money without having to work?That’s pretty much a rhetorical question. I am pretty sure that theanswer is going to be ‘yes’ for the vast majority of people. Whywouldn’t you want to earn money without having to work?Of course, for most of us, this isn’t likely to become a reality anytime soon, and there’s always going to be effort involved in makinga good living.But while you might not be able to get ‘something for nothing,’there is a good chance that you can bring in the profit that is vastlydisproportionate to the work you do. And what’s more, is that youcan stop ‘swapping your time for money.’ And in fact, you can do allthat quite easily.What I’m talking about here is ‘passive income.’ It isn’t ‘gettingmoney for nothing,’ Instead, it means setting up a business modelthat can eventually sustain itself with little-to-no input from you.That’s right: you create an automated system of selling orpublishing adverts, or of recommending products and from there,you can continuously earn money, indefinitely.So you have put work in, but once you’ve done that. You can kickback and relax and let the cash come rolling in.You aren’t trading time for money anymore. That means that you’llgo to bed and wake up the next day a little richer. And it means thatyou’ll be able to go on holiday and continue to earn. And it meansthat if a friend invites you out for the day, you can drop whateveryou’re doing and go – no need to tell employers or clients.Better yet, because passive income is automated and requires nofurther input from you, that means that you can continue to repeatthe same business model over and over again and thereby increaseyour earnings over and over again too.It’s called ‘scaling,’ and eventually, you can be earning massivemoney by having multiple ‘income streams’ all working at once.It’s amazing.2

ULTIMATE PASSIVE INCOMEHave you heard promises like this before? Usually, on ‘makemoney’ websites that promise expensive schemes that involveillicit activities, generally involving ‘tricking’ Google in some way oranother and often involving much-complicated jargon.You buy the eBook, you read through it, and then you give up,frustrated. Is passive income possible for everyone? Or is it just apipe dream?The answer is that it is possible – you need to think about it in theright way.For starters, you need to recognize that passive income does notequate to a get-rich-quick scheme. There is much work involved,and you’re not going to start seeing massive money overnight. Ifyou go into this expecting to get rich with minimal effort, then in alllikelihood you’re going to come away very disappointed.Instead, it would be best if you got into this looking to supplementyour current income and lifestyle and earn extra cash withouthaving to work hard for it continuously. Best of all, this is a way youcan make while doing something that you love.Creating a blog or selling a product can help you generateadditional income without continuously putting in long hours. Thatmeans you can do it on top of your regular business or regular job.And even if you only earn 50 a week – that’s 200 a month. That,in turn, is enough to go on a few extra holidays a year, to put asidesome serious savings, or to treat yourself to some exciting gadgets.And it’s all from writing about something you love and from creatinga business model that you can be proud of.And once you start seeing that cash flow and you stop trying to “getrich,” you’ll find that it’s surprisingly easy to keep it growing and tokeep that money coming in.3

ULTIMATE PASSIVE INCOMEAnd you can even repeat the strategy you just employed tomultiply the income several times over.The other thing to recognize is that you need to be smartabout approaching these business models. The key is verymuch to work smart rather than hard. You need to be able tounderstand the thought process of your audience, and youneed to know how to create something that will work withoutwasting lot’s of time and effort on small details that don’tmatter.But I’m not just going to tell you what not to do. I’m alsogoing to help you get started with one of these smartbusiness models so that you can begin seeing that passiveincome pours in right away.In this guide, you will learn three simple ways to start makingmoney while you sleep. And all of them will be simple,effective, and easy to implement.One of the easiest ways to start making passive income isto sell a digital product online. Tim Ferriss calls a ‘muse’ –a straightforward sales process that will bring in cash. So,where do you start?First, you need to acquire said digital product. A digitalproduct is anything that you can sell that doesn’t have atangible aspect. A good example here is an eBook, but videocourses also work well, as do email courses.Whatever the case, a digital product has the benefit of beingcompletely free to produce (no overheads) and not requiringany delivery or storage. It means you can create it once andthen sell it indefinitely.4

ULTIMATE PASSIVE INCOMEAnd you can also use a digital delivery system to takepayments and then send the product.To make this product, you can either spend time doing ityourself or you can hire someone to do it for you.Writers and writing agencies are easy to find online andwon’t typically cost you that much.You’re then going to create a sales page. It will be a singlepage designed to sell your product using persuasive writingand a smart layout. This page must be well prepared becauseyou need to gain your audience’s confidence and look like areal business.There must be no concern in their mind that their paymentmight get lost in transit, or that you’re going to take theirmoney and then never deliver the actual product.It’s also imperative that you make it as quick and easy forpeople to check out. That means they should be able to click‘buy’ without having to worry about entering their paymentinformation or sign up. Most sales are on an impulsive basis,and to take full advantage of that, and you need to ensureyour site allows for those impulsive purchases.Finally, you’re going to use Facebook Ads to target youradvert to the right people in a way that means you’re onlypaying when someone clicks one of the ads. You get to sethow much you’re willing to pay for each of those clicks,which means that you’re going to be able to ensure thatyou’re earning more money overall than you’re spending.In short, the right people get sent to your sales page, theyget tempted by your sales pitch, and they quickly and easilycheck out.5

ULTIMATE PASSIVE INCOMENone of this is anything new. No doubt you’ve heard ofselling digital products before, and it is not precisely rocketscience working out the basics.The key is to make a business model that will workand understand what makes some products sell verysuccessfully while others never do.The first key element is the niche and demographic. Youneed to pick a product with broad appeal that offers value tothe buyer, but also one that won’t be going up against toomuch competition, and that won’t struggle to get noticed.If you make an eBook on fitness, you’re going to be going upagainst thousands of other eBooks, some of which will havemuch bigger budgets than you. That means you’ll have topay a lot more in terms of advertising to get noticed.If you can hone in on something specific, maybe an eBookon fitness aimed at the over-50 market, on fitness in martialarts or students, then suddenly you can choose more exactkeywords and demographics and thereby spend a lot lessmoney on your adverts.It is a good start because it means you can quickly get seenby many people.Another tip is to think about the niches that you alreadyinfluence.As well as advertising, you can also sell by using a ‘route tomarket,’ which is any direct access to a big audience that islikely to buy from you.Right now, you probably have a few routes to market thatwill make it very simple and very easy for you to make thosesales. For example, you might just so happen to be friendswith the Gardening Magazine editor.6

ULTIMATE PASSIVE INCOMEIf that’s the case, then take advantage of that audience bycreating a gardening eBook.Create the product, find the right audience, and match thetwo.That’s all it takes – so think about your existing opportunitiesrather than invent new ones from scratch.Another tip is to think about the ‘value proposition’ of yourproduct. That means asking what it is that your work can dofor people. In many cases, this will mean asking how it canchange their life.For example, if you’re trying to sell a fitness eBook, thendon’t think about the e-book itself: think about how it feels tohave amazing abs, to have tons of energy every day, and tobe more attractive and confident.That is the value proposition’ that you’re selling, and that’swhat your sales pitch should focus on. It is what cangenerate enough emotion to get someone to click buy.Now use Facebook’s advertising system to target the rightperson with your ads.You can do this by using filters to only target men, onlytarget students, only target specific areas.If you’re selling an eBook on planning the perfect wedding,you can create an advert to target women who are currentlyengaged.With the right pitch, the right audience, and the propercheckout, you’ll find the money comes rolling in.7

ULTIMATE PASSIVE INCOMENow it’s time for something that might initially sound a littlemore complex than selling an eBook, but which is morestraightforward than it first appears, creating and selling amobile app.The good news for starters is that Google makes it incrediblyeasy to create apps and put them on the Play Store forAndroid devices. There is only one fee, and it’s about 30.You’ll pay once and never again.Better yet, the approval process is automated (unlike theiTunes App Store) and only takes an hour or two. That meansyou can quickly put something together and get it on thestore, setting any price you like for it.I can hear your protestation though: “but I don’t know how tomake an app!”.The good news here is that you don’t need to know how!All you need to do is either hire someone who does know(you’ll find them on UpWork or Elance and it won’t cost youthat much) or use an app building tool that willgreatly and simplify the process and save you a ton of timeand effort.Some of these tools involve little more than building awebsite, and while the functionality may be limited, there areways you can be creative and work around that.The best part, though, is that now you’re going to be sellinga digital product through a distribution platform. That meansthat people will findyour app by searching on the Play Store (which worksjust like Google’s own search engine). That becomes yourroute to market, which means you need to do a lot less inadvertising or marketing.8