4 Passive Income Idea To Make $700 Per Month

passive incomr


What is passive income, it's just the opposite of active income, well, that doesn't really help explain what it is, when people think of earning money, they think I go to work for 8 hours and I get a paycheck in exchange for my work. But That's not the only way you can earn money.

Passive income is where you put work into something like this might be a business or some research or just something, you put work into this thing and then you get paid for this work that you did for years into the future.

The reason most people get turned off when they hear the words passive income is because they assume it means I do nothing today and then I'm going to get paid a whole bunch of money every single month for the nothing that I did today.

Read: 9 Ways to Create Passive Income Streams Without Investing Money

It doesn't really make sense to me either and the more you try to find these secrets to making money the more you are going to be disappointed, if you are willing to put in the work in the front end, Here are 5 strategies you can use to generate $700/month or more in passive income.


1. Sell On Amazon

I know some people have made selling on Amazon into some sort of get-rich-quick strategy, but there is a way to make it work. You can think of Amazon kind of like this big huge digital database of people looking to buy things 

Read:

5 Ways to Make Money With Amazon

    

How To Find Hot Niche Markets With Amazon


You can be one of the people that sell these things, that's what my friend did, he found a wholesale supplier in China that sold cellphone cases and he started buying them to sell on Amazon
  • As soon as he listed the products for sale, it was like he got hit by a tidal wave, the order started rushing in and he as making killing money.
  • Just kidding, nobody bought his product. That's when the real work started.
He started doing shots of his products, that way he had good products images, he started learning about SEO which is search engine optimization, and he learns about how to get his products to rank on the first pages of Amazon

Read: The Secret Methods to Launch a Product to Rank on Amazon

Slowly he got his first sale and then the sale started to come more consistently day and night. If you sell a product with a profit margin of $30, if you sell one product today that's $30 profit a day, if you sell two a day that is $60

He was doing great and then he had to shut his business down because it turns out that his supplier was selling him counterfeit products that he didn't know

But if you don't sell brand-name products you don't have to worry about that problem. Amazon is doing the work to bring buyers on their website, so if you want to make a ton of passive income you have to put in the work to get your product to rank on the first page of Amazon.


2. Invest In Dividend Paying Stocks

I started investing in the stock market when I was in high school and like most high school kids I don't have a whole lot of money to invest so I started by making small trades. But then things change, I found the secret.
  • I started hearing about those penny stock millionaires and it hit me, if I could find the right penny stock, I could turn $1,000 into a $100,000 overnight, and this secret strategy turn my $1000 into Zero.
Sometimes you have to touch the fire to realize it's hot which is right now I love investing for passive income which is why I like real estate so much, but on the stock market you can also invest for dividends with the regular cash payment that companies pay you every 3 months just for owning them

Read: How Stock Market Investing Works

If you took a couple $100 and you invested it in the McDonald stock, for example, I'm not telling that's what you should do just an example,

But you bought one share the McDonald stock, now every 3 months or so the MacDonald company will be sending you paychecks for owning their stock and you don't have to do any of the work
  • Is this dividend going to make you rich with a $200 investment? No, absolutely not, this is going to be a few bucks, but some passive income is better than no passive income, you have to start somewhere.

3. Be An Affiliate

If you build an audience on social media or Youtube, podcast or your blog, you can start generating a recurring income by selling other people's products as an affiliate.
Let's say you're into fitness so you start a fitness blog and you really like Joe's Vitamins so you start talking about Joe's vitamins as an affiliate on your blog, a percentage of people that read your articles will buy Joe's vitamins and you will get a percentage of every sale that you bring

Read Affiliate Marketing For Beginners! Step by Step In Plain ENGLISH!

Now kind of like how we talked about with Amazon on point, if you can get your article or your blog to rank on the first page of Google that means recurring income for you.


4. Let Other People Sell Your Products

This one is kind of like the opposite of what I just said if you have a product like let's say cell phone cases you can find other influencers to sell your product for you on commission.

You can get these influencers to work as an affiliate like I just talked about, your work here is twofold, you have to find the right affiliate with consistent traffic and you have to show them that your product is amazing.

As somebody who gets tons of products promotion messages a day I can tell you from personal experience that if you just start emailing influencers telling them hey sell my product I'll give you 10% of sales, you are going to end up in the trash folder,

Show them your unique value, and show them how your product is great for their audience, then once you do that the affiliate jobs is to sell your product day after day because if they don't sell your product you don't get paid.





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Author:

Hi, i am Micheal, the guy behind Roadtosuccesse. I share tips and tricks to help take a business to the next level, show which systems I personally endorse and use, share what I learn as a student of the game, and help people with personal development so that they can reach their full potential.

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