If you run an online business, then probably one of the main reasons you decided to join the ranks of the online entrepreneur is so that you could create more freedom, both time and money freedom for yourself.
However, like lots of online entrepreneurs, you may find yourself a bit stuck and feeling like you’re constantly chained to your computer, not having any freedom, working more hours than you did when you worked for an employer, and certainly not making the money you dreamed of.
The problem here has a lot to do with how people are structuring their businesses and setting up their income streams, but a lot of it also has to do with the mindset. Many people deep down still don’t fully believe that they can make great money online and work less than they used to – it all seems a bit too good to be true sometimes, but the good news is once you start working on that mindset you’ll see that making money doesn’t have to involve hard work like the way we were brought up to believe. That was the old way of doing things, and now we’re in the new way of doing things, so once you’ve got your mindset up to speed, then you’ll really start to see things shift for you.
In this post, we’re going to share with you some of the passive income ideas you can use to create that income and time freedom in your business that you truly desire.
Ebooks are an amazing source of passive income that are as true to the original sense of the term passive income as you’re going to find online, because it’s truly the case that you just creat these once and then allow them to keep making you money over and over. Now, you probably won’t become a millionaire from ebooks alone, but they can certainly provide a nice steady income each month and they’re great for using as part of your marketing to reach a wider audience. If you think creating an ebook is difficult, then you’ll soon realize that it’s a lot easier than you thought, especially if you a self publishing or digital publishing platform to get yours done.
Online courses are passive like ebooks in the sense that you only create them once and then you can keep making money from them. However, depending on the content, you may need to update it once in a while, so it’s not 100% passive, but pretty much nothing is if we’re talking about passive income for an online business, anyway. They’re going to be a higher price point than books, so you can definitely make great money on these, but you also have to do a good bit more in the way of marketing. However, if you get yourself set up with a good sales funnel, then you can pretty much automate this side of things and bring in money for your business whilst you’re doing other things.
Digital downloads such as PDFs, planners, worksheets, and even audios for meditations are all things that you can create once and then list on your website or in a sales funnel and sell on repeat, so they’re a great source of passive income for your online business.