Best Passive Income Ideas For 2017

The concept of passive income is only a dream to most people but there are plenty whom are living this dream today. People are making it happen every day and so can you. It definitely takes work, but is well worth the effort. If you are willing to create a system and put in a consistent number of hours up front, you should see the checks start rolling in just a short amount of time.

WHAT IS PASSIVE INCOME?

Passive income is defined as an income received on a regular basis, with little effort required to maintain it. I prefer to define passive income fairly broadly as revenue you earn even when you aren't actively working. Another name for passive income is residual income.

There are three main types of earned income: 

• active income
• passive income
• portfolio income

In this article we will mainly focus on Passive Income. But first let's quickly describe an example of Portfolio Income.

Portfolio Income as an example would be such as Dividend and Interest income earned from owning securities; such as Stocks and Bonds. Retirement pensions would be another example.

Active income includes income earned from working a 9 to 5 on a daily or weekly basis. As long as you are actively working, income is being earned.

Earnings from a business that do not require your constant involvement are passive income: 

• Royalties from publishing a book/ ebook
• Earnings from Internet ads on websites, such as Google Adsense
• Residual income, or repeated regular income earned by a sales person, generated from the payment of a product or service, that must be renewed on a regular basis in order to continue receiving its benefits

Out of the three various incomes mentioned above; passive income  is truly the best option for those looking to make a work at home living. 

Much like the concept of trees growing while you sleep, passive income allows your bank account balance to grow on its own timing as well.

Okay, so you get the idea. 

Now you want to know how to create passive income. There are plenty of ways to go about doing this. 

The first most consistent and successful way that I have found to make passive income for online marketers is through Affiliate Marketing. 

Now, if you do not know what that is, affiliate marketing is basically selling other peoples products online. You market a product, direct the customer to purchase it, if they do, then you make a commission. 

Affiliate marketing is popular for a number of reasons, including the potential for success with a relatively small audience and the deep pool of affiliate partners willing to pay you, in order for them to acquire new customers.

A second great way to create passive income is through Network Marketing. For those whom want their very own Home Business - Network Marketing, otherwise known as Multi-Level Marketing (MLM), is a perfect fit.

Companies such as Herbalife, Beachbody, Arbonne, and Avon are all multi-level marketing companies.

You earn passive income from network marketing by networking with others and building a team underneath you known as your downline.  As your team continues to grow, you not only earn passive income from your own efforts, but also a percentage of each of your team members efforts from their marketing and even their teams' marketing efforts, etc. 

The income potential is endless and many choose MLM as their main job opportunity.

A third great passive income idea is to Create an App – If you own a smartphone or tablet then it’s safe to assume you have several apps downloaded. But did you know you can even create a free app of your own website?

If you enjoy gaming or have thought of a great tech marketing tool, you could consider hiring a programmer to create your app for you. 

Your app could start out free and you create passive income from adding extra extensions to it. You could then sell it on Google Play or Apple for passive income.

The fourth best passive income idea I'd like to share with you is that of Designing and Selling T-Shirts – 

Sites like Amazon allow users to sell their custom designed T-shirts on their platform. This is a great option as they have literally thousands of customers visiting their site daily. If your design becomes popular and makes sales you’ll be able to earn royalties.

The fifth best passive income idea is to - Sell an eBook Online –

Self Publishing is very popular and lucrative for 2017. There are many whom make a full time living as a freelance publisher.

When you purchase an eBook off of Amazon there’s a pretty good chance you’re buying a self-published book. Self-publishing is also ridiculously easy. 

To self-publish a book you’ll first need to write and edit it. You can create your own cover for it or use a service such as Fiverr, which have some great professional ecover creaters. You will also need formatting so that you can then upload to published book platforms such as Amazon’s Kindle Direct Publishing, CreateSpace or Barnes & Noble.

You can literally start selling the minute your ebook is uploaded, but you will want to promote your ebook through as many social channels as possible to get maximum exposure.

These passive income ideas are not all encompassing options.  You could use several ideas together, such as selling t-shirts and writing an ebook about your process or network marketing and creating an app for your website so customers can easily download your products online.

If you provide real value and your customers are satisfied, they will naturally want to buy more things from you.