Last updated on August 31st, 2018 at 12:34 pm
When I became hip to passive income online, I knew immediately that it was what I wanted to do.
Unfortunately, I read a lot of bad advice on the internet so it took me a long time to get to where I am today.
The problem with trying to learn how to create passive income streams online is that you run into information overload.
The two passive income streams I share here actually work hand-in-hand which enables you to focus which is key to creating a consistent income online.
Let’s get started.
Blogging for Passive Income
I am a huge advocate for creating niche websites, essentially blogging to earn income online.
This is how I got my start and it is something that I do today and will continue to do. I earn income from my blogs through affiliate marketing.
Blogging has become a way for many bloggers to create six and seven-figure incomes.
While getting to that level of income takes a lot of time and effort, it is highly possible to create a full-time income in order to break free from the rat race.
That is exactly what I did and is a huge reason why I recommend this online business method to others.
The Benefits of Creating Niche Blogs
There are so many benefits to creating a niche blog. Even if you have zero experience, it is something that you can excel in with consistent effort.
It is Extremely Low-Cost
You can get your first domain name, WordPress website, and web hosting all in one place and for less than $100.
Search for any web hosting and chances are you will find that they will register your domain name for free and they will have one-click WordPress website installation.
Dreamhost is one of the hosting providers I use and they offer all of the above.
Blogging is Convenient
Creating and maintaining a niche blog is convenient. That means you can work on your business when you have the time to do so.
In my case, I was determined and I made a goal to work my way out of my retail job.
That meant I studied my training and worked on my website before work, after work, and on my days off.
That is the great thing about a blog. You can fit it into your schedule and it will continue working for you 24/7.
Unlimited Earning Potential
As I pointed out earlier, there are many bloggers earning six-figure incomes and more. You are only limited by the amount of work you put in.
Creating a niche blog is what helped me gain my own time-freedom. The dream of not waking up to an alarm clock and having to punch into a timeclock can come true.
It takes learning the marketing skills necessary to make sales and the commitment to make it happen.
Blogging is Fun
One of the perks of creating niche blogs is that you get to choose the niche. Do you have a passion for cooking? What about flying drones? Photography? Playing the ukulele?
There are a lot of business owners that are in businesses that drain them rather than inspire them.
Blogging can be an extremely fun process. You can be as creative as you want and expand on other topics within your niche.
Building Sales Funnels for Passive Income
Sales funnels are another great passive income stream. They don’t require consistent writing the way a blog does.
However, they can work hand-in-hand with a blog in terms of driving people from a blog into your sales funnel.
All types of businesses can use a sales funnel to include brick-and-mortar businesses and online businesses.
I use a funnel on this blog as well. You can find links to it in my navigation on the “Getting Started” tab and on the sidebar banner.
A sales funnel is the process of collecting your visitor’s email addresses and sending them email messages that help to push them through the other pages of your funnel.
The pages of your funnel promote a specific product that you are selling.
The reason why sales funnels work so well is that most people that you are promoting to will not buy the first time you connect with them.
Here is a very simple funnel that I sketched:
The first part of the funnel above consists of a “squeeze” page. The job of the squeeze page is to capture a user’s email address.
A squeeze page is often very simple and the headline usually consists of a “freebie” such as an email course or other information to entice people to subscribe.
Once they subscribe, they are taken to a “thank you” page in which you can place a video or image with more information about what your subscriber can expect.
From there, you can now continue sending email messages to your subscribers with valuable information that also promotes the product that you are selling.
Why are Sales Funnels Passive?
I consider sales funnels a way to create passive income because once you have one set up, it works for you 24 hours a day.
The only thing you have to do is drive traffic to it and you can accomplish that with a blog, social media, and paid traffic.
Whether you want to promote physical goods or digital goods, you can help increase sales with a sales funnel.
The Importance of Building an Email List
I have always heard of the saying, “the money is in the list” but I never took list building seriously.
That is because I didn’t truly understand how it worked. However, now that I create content on a consistent basis, having an email list is a great way to share more content with my readers.
It is another way to provide more value to your audience as well as having the ability to promote your products.
When you cultivate a relationship with your list by always helping and providing value, you will be rewarded when some people on your list buy the products or services that you promote.
The key is to always remember that your list is made up of people and not to treat it as a way to spam readers with products to make a sale.
Blogging and sales funnels are two awesome ways to generate a passive income online. Best of all, you can utilize both of them at the same time.
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