How to receive multiple streams of passive income!
What are multiple streams of passive income in the first place. It is simply a method to get money from different sources without actively working for it. This is not free though. As you may already know, nothing is free. But it is one of the best ways to make enough money to live as you please. The idea is simple.
You make an effort once and you get paid to the infinitum based on that effort until that stream of income dries up. You don’t worry about it because you have multiple streams so you will always be profitable. This is different to how most people make money. First of all they often call it making a living. They live from paycheck to paycheck.
They have only one stream of income: their job. If they get fired they lose their shirt. This is one of the reasons I see so much stress in the eyes of many people. They live nervous and worried about life, people and situations. Passive income is not your ticket to paradise, but it is a better way to make money. Then, the important question: How do you do it? Ok, let’s start by saying that nothing is free, you will have to pay a price. This price may be monetary or it may be invested time and efforts. I will reveal to you many different ways you can get passive income on this article. Some of them seem free, but because they seem easy, they have huge competition. This evens out the possibility for you to get something for nothing.
I am being honest with you, and if someone tells you that you will get rich tomorrow, they probably want to rip you off. It is better to build the house, than to rent it. You may not be able to build a house, but anybody can create passive income despite of the circumstances. There is not one or two ways to do it but many. Some people will have to try harder than others, but if you believe you can do it, and you are willing to pay the price, then you will do it. Here are just a few ideas: 1. Write a book. Writing can make you money. Focus on something that you know a lot about. It could be related to your job, life experience, school work, hobby, etc.
Take a piece of paper and write down the subjects that you are knowledgeable about. Then write a few sentences or paragraphs about this subject. This will be the summary for your book. If you sell it online like an e-book it doesn’t need to be long. A few (20 - 30) pages will do the trick. Create a few graphics to complement your descriptions and you are on your way to establishing your first stream of income. Now, there is more to it than just this. How are you going to publish it? What is going to be your target market? How are you going to collect the royalties? How are you going to advertise it? I will tell you all of this later. I am only giving you basic ideas now. Do you think that you are not really knowledgeable in a specific subject? You are probably wrong.
Everyone knows something about some topic that others don’t know much about. You don’t have to be the exception. What if you can’t type. I will also tell you how you can hire people to do the job for you, but then it will cost you money. It is better if you can do it yourself. Otherwise, you can also choose another way to generate passive income, like the one I share with you bellow. 2. Sell photographs and videos. You can do this mostly over the Internet.