Hi, I'm James. It's no chance that you've landed on this website and you're probably looking for something I have been working on for a while: Passive Income. If you have no idea of what Passive Income is, I'd say it's a bit weird that you're here and you should rethink your possibilities because this piece of information is not understandable by everyone...

Before I go deeper into this and if by some odd reason you want to know more about me, be my guest. I'm pretty well paid for doing my job and I love what I do. So, shortly: I have a good life and I wouldn't be worried about how to obtain my passive income, right ? If your answer is "Right!", I really start to think you shouldn't be here... but you can read about it here.

Well, enough of sweet talking and let me tell you what I've discovered about Passive Income. Actually, I have presented below The 11 Passive Income Sources.

Recommendation: take a quick look at the titles before you actually start spending your time reading this. If none of the 11 suits you, please leave immediately and go back to your usual work.

#1 web business

Having IT skills, I was able to come up with a business idea for a website and presented it to some of my friends... a few of them believed in the project and we started developing it. It's basically a project that adds value to bloggers and the blog's audience. This project should be running live pretty soon and so far I'm ecstatic with what's in store.
I honestly think that anyone who follows the internet trends or that feels that it's possible to bring a traditional business model to the internet should apply his/her knowledge. It's not about luck, it's about devoting oneself. Even if you're not an IT person, you may have a great idea and finding the people to implement it is so easy nowadays. In my opinion, social networks is still a hot area that can generate huge income if you manage to find a good niche. The key for this kind of project is to put users making transactions between themselves or/and simply showing advertisement - one very good option for advertisement is Google's AdSense

#2 blogging (sharing your expertise)

Blogging is an excellent opportunity. Even if you're not into computers, blogging has become such an easy task nowadays that the only thing you really need is to have a subject to write about: sales, gadgets, finances, clothes, gossip, you name it! There are several blogging platforms such as Blogger or Wordpress that allow virtually anyone with internet access to be a blogger. But the really good news is that if what you write about is useful for people, regular readers will appear - and, here again, advertisement is an option - and, of course, will also trust the blogger on recommendations like books, dvd's, artists and so forth. Here you should become aware of what an affiliate program is. Several companies have this kind of program including Amazon with its Amazon's affiliate program and there's a lot of people profiting from this; it basically consists of special links for products from your website/blog to the merchant's site. For example, one might blog about Gardening and recommend a good book about the topic. If a reader goes for that recommendation and buys it, the merchant will provide you a commission for the sale you generated. Another approach to this is to use eHow to publish your articles.
In my case, I am currently collecting a set of topics that often come to my mind and will also present them in the form of a blog.

#3 network marketing

A great invention, in my opinion and one of my favorites. I know some people refuse it, I found it extraordinary. For me it's pretty much like the affiliate programs I mentioned above. I generate a sale, I get a commission. Giants like Amazon and Barnes&Noble recognize the power of network marketing, should I (or you) refuse it ? No way. When you find a great book or shampoo or whatever that you really value, you immediately tell your friends about it, isn't it ? You say something like: "man, I just read this awesome book, you will love it !!". Then they buy it and you get nothing... nice one. So if you manage to find a network marketing company that markets a product that you think it's good for you and if you think a friend, an acquaintance or random guy that you just met will be equally satisfied, you should gain a share of what they pay to the manufacturer/provider. This kind of business model is extremely powerful and may generate income for decades. I have joined a network marketing company some time ago and started to have my first results after 1 month. I'm really happy I took that decision. Recently, I found a really cool initiative that takes network marketing into another level www.exploragel.com

#4 You as a Guru - sell your own media

That's right: audio books and ebooks produced by anonymous like you and me start to be a very strong trend on the Internet. We all have our strengths. You don't need to be the best in the World, you just need to structure your content in a way it's useful for who search for it. Are you a credited seller in your company because you use a special technique ? You're a great speecher on "How to save money buying gold" ? Just compile that information in an appropriate fashion and start selling it. One simple webpage being reached from AdWords adds is a very good method of exposing your products. I just stumbled upon this example of what I'm trying to illustrate here milliondollardesire.com/special.

#5 royalties

Maybe the most passive income approach of all: you produce something like a book, a painting, a phrase, a song and you will get money anytime anyone wants to reproduce it (pretty much a copyright). This is similar to blogging in some ways but in my opinion it covers a wider set of possibilities. The trade-off is that you may need to be even more skilled than a blogger. Being a little bit of an artist yourself which is not everyone's cup of tea... it's not my case either. Ok, imagine you are actually a very good writer but never had the chance of publishing your own book due to several reasons including the exploitation that big publishers are known for. Nowadays you can support your editions with the help of systems like Lulu. To market other kinds of products like a T-shirt with a logo by yourself, you can find stuff like Cafe Press or Spread Shirt. I suggest anyone with a little bit of artistic skills to submit his/her own material.

#6 translate contents to other languages

I just noted that I'm not specially skilled for arts... indeed this section is an extension of the previous one for non-talented people. I have started to think of how I could find a workaround. So far, I have decided to get some really good books (basically bestsellers in English) and find someone who translates them into other languages. Something like: I contact the main publisher and propose the translation deal, then find a good translator for the destinatined language and after the product is finalized, I gain a percentage of the sales as well as the translator. Not bad for someone who's not a writer. I'm currently selecting the books and here's an excellent example: "The Science of Getting Rich" by Wallace D. Wattles, does it exist in Russian ? It's a market of over 140 million people.

#7 selling your services as subscriptions

I think this is a special one. I say this because it can be adapted to almost every type of activity that you may already have. The goal is to put customers actually paying for the guarantee of the service and not the service itself. Taking the example of a repairs store, for instance: instead of charging a customer every single job at his house, you ask for a monthly or yearly fee (you have to do your math so it compensates) and both are happy - the customer knows he won't pay anything else for your services and you get paid even if he only needed you once or twice during a year.

#8 vending

Candy machines, drink machines, coffee machines... well, there's a world of opportunities here. Start with one, with that income you'll install a second machine and so on and so forth... Pick the right locations, the right brands to sell and check out the machine from time to time.

#9 apply your money

This is the right thing to do if you have money sleeping in your bank account. It's of no use. There are several options: stocks, investment funds, trading for other (more stable) goods like gold, silver or other metals, lending your money, forex, the list too long to put down. Maybe here the best thing to do is to ask for the opinion of a specialist but almost anything is better than keeping your money still. I just learned there are platforms where you can lend your money for really good return rates - Prosper is one of them.

#10 real state

Land, apartments and houses are usually very nice assets to possess and you can easily convert them into income, specially if you don't need them for your daily-life. If you have a house (or if you can afford to buy one) for instance, I would encourage you to rent it and make it a source of passive income; it's a fixed amount (usually very considerable) of money coming in every month. Naturally not 100% passive when you need to send the plumber to the house because you tenants are whining about it but in the long run it's one of the best methods of passive income.

#11 be an insurance broker

It's definitely another way of bringing the two worlds together: generating passive income while doing your normal job. You will obviously share the profits with the insurance company you work with but you leave a track of "seeds" behind you. Another very important aspect of an insurance broker's portfolio: it is inheritable and can also be sold. You portfolio of insurance policies is an asset itself.

Well, one extra note: if you want to know how I'm going with my Passive Income: I'm doing great ;)

One last thing: GOOD LUCK, I'm sure some of you will make it ;)

Now that you read The 11 Passive Income Sources, you probably can think of someone who can make good use of this precious information. If you think it's the most correct thing to do...

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