Create Passive Income Online: A Formula for Financial Freedom

By Stephanie Chandler

Passive income is money you make while you sleep. Real estate is the most traditional form of passive income, but the internet has opened up opportunities for anyone who wants to generate revenue online. Following is a strategy you can follow to develop your own passive income business:

Create a Content-Rich Website.

Content really is king. Not only does it give your site visitors a reason to return to your site, but it gives the search engines plenty of reasons to index your pages. Load your website with articles, links and other resources. By offering free information, you can convert many of your visitors into paying customers.

Publish a Useful E-zine.

Online newsletters or e-zines are powerful tools for keeping your name in front of your customers. Pay attention to the e-zines you receive from other businesses. What do you like about them? What could you do better? Publish yours weekly or monthly and make sure it offers plenty of value. This is your chance to build a rapport with your readers while you soft-sell your products and services.

Develop Products to Sell.

Information products are powerful revenue generators. Product opportunities include books, e-books, special reports, teleseminars, workbooks, tips booklets, mp3 files and virtually and form in which you deliver information. Use your expertise to develop products that your site visitors need. Electronic products are ideal passive-income earners since once the product is created; it can continue to sell for years with little effort on your part.

Write Persuasive Ad Copy.

Once you create a quality product, you need to convince customers to get out their credit cards. Offer a list of product features, testimonials from others who have enjoyed the product, and appeal to your buyer’s emotions. The key to successful ad copy is to identify the buyer’s need and show them how your product will fill that need.

Automate Your Online Business.

The key to passive income is to minimize the amount of work involved. Instead of manually responding to every sale that you make or every inquiry you receive through your website, you can automate these tasks. Add a shopping cart solution to your site such as www.1shoppingcart.com, a comprehensive shopping cart solution or www.payloadz.com, a service that automates electronic file delivery.

Implement Affiliate Programs.

You can sell other people’s products and services directly through your website and earn a percentage from every sale. Find products and services that compliment the content on your site. Popular affiliate programs include those offered by Amazon.com, Google Adsense (www.google.com/services/), and Commission Junction (http://www.cj.com/). Your shopping cart service provider may also allow you to implement your own affiliate program so that you can empower others to sell your products and services. You can also create affiliate programs through services such as Click Bank (http://www.clickbank.com/) or Pay Dot Com (https://paydotcom.com).

Market Your Business.

Drive traffic to your site by spreading your website link across the internet. Some strategies to employ include swapping links with other businesses, publishing articles online through services like www.IdeaMarketers.com and www.EzineArticles.com, submitting press releases through www.prweb.com, and purchasing classified ads in industry publications. Try to do one to three tasks every day to market your business and soon your website traffic will begin to explode.

Continue the Product Development Cycle.

Be on the lookout for new product opportunities. Pay attention to what questions your customers are asking so you can create products that they need. Each new product should help increase your bottom line by generating new income streams and new reasons to advertise your business. Keep in mind that customers who liked your previous products will be more likely to purchase new products from you for years to come.

About the Author:

Stephanie Chandler is a small business expert and the author of FROM ENTREPRENEUR TO INFOPRENEUR: MAKE MONEY WITH BOOKS, E-BOOKS AND INFORMATION PRODUCTS. She is the founder of www.BusinessInfoGuide.com, a directory of resources for entrepreneurs and www.ProPublishingServices.com, a custom writing business specializing in electronic newsletters, information marketing, and sales copy for websites and brochures.

*This article can be reprinted provided the author bio is included.

Want to learn more about becoming an Infopreneur?

Check out Stephanie Chandler's new book:

From Entrepreneur to Infopreneur: Make Money with Books, eBooks and Information Products

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