Another method that has become increasingly popular and allows you to create both passive income and multiple streams of income is affiliate marketing. With affiliate marketing, you make money by promoting products and services for companies and by recruiting other affiliates. It’s a good idea to diversify and choose multiple services and products so you don’t put all your eggs in one basket and so that you create multiple income streams. When you’re choosing an affiliate program make sure that it meets your target market’s needs and provides value. And choose affiliates that match your own interests and knowledge base, so you’ll know how to promote them effectively. Also look at the amount of commission the affiliates pay and how long they track clients for you (ideally forever). And make sure they pay commissions on multiple tiers for sales, e.g. you also get paid when one of your affiliates makes a sale.
I think you’ll find that affiliate marketing is pretty easy to do. You don’t have to invest anything (most affiliate programs are free), and the companies do most of the work for you. They provide the products, track the sales and give you a commission for each sale. Many programs even give you training and marketing materials to help you along.
Another great way to use the web to create passive income is to sell an ebook. You can write an ebook about any subject on which you can add value, whether its how to build an online business, travel tips or raising healthy children. The point is to create content that is valuable for your target market. Ebooks are not expensive to produce and can generate ongoing income for years to come.
You can even add an affiliate program by getting other people to sell it for a commission. This is a great way to increase your passive income. I’d also recommend pre-selling by giving people a free e-book or other valuable content before selling them your ebook.
In fact, let’s take a look at what Ann Sieg has done because it’s an excellent example of how to make passive income online as well as create multiple streams of income. Ann has written an enormously popular ebook called The 7 Great Lies of Network Marketing. That book is free and it offers tremendous insights into why most people fail at network marketing and how they can succeed. Once people read that, they want to get her ebook The Renegade Network Marketer because it goes into much more detail about solutions for overcoming the challenges faced by most network marketers. For instance, Ann shares what she calls the greatest sales secret of all time
(here’s a hint: it has to do with attracting people to you vs. chasing after them). By the way, the information in Ann's book isn't just for network marketers. It really applies to any home-based business.