Online Business A Modern Source Of Passive Income

Man on tablet online business

As you probably know, passive income is the income you earn without being materially involved with the day-to-day running of a business. However, you have to work hard at first to build the business. With that in mind, here are five online business models to make passive income in this digital era.

Online Courses

According to a recent report by Research and Markets titled the “Global E-Learning Market Analysis & Trends – Industry Forecast to 2025”, the global eLearning market will be worth $325 billion by 2025. Additionally, video content will account for nearly 80% of all Internet content by 2019, says the eLearning Industry. Based on these numbers, online courses are a good way of generating passive income, especially if you have expertise in a particular field. To get a piece of this pie, all you have to do is create online courses in your field of expertise and sell your videos on online course marketplaces such as Udemy, Thinkific and Skillshare. However, if you want greater control over content, you can self-host your courses on your own website using tools such as Teachable, which would allow you to create a professional-looking online school.

Information Products

An information product is basically a product that provides a detailed answer to a question. This business model is an alternative to the online courses business model. Examples of digital products include instructional videos, podcasts, ebooks, recipes and guides. Information products are particularly useful because consumers are increasingly turning to the Internet for answers. In fact, a 2007 study by PEW found that nearly 60% of Americans get their answers from the Internet. This means there is a growing market for digital information products. Of course, to create a successful information product, you would need to invest a considerable amount of time, effort and resources. Specifically, you would need to build an ecommerce website, create the product and write a sales letter. Additionally, you would have to market your product as well as do search engine optimization in order to attract traffic to your ecommerce website. One of the main advantages of this business model is its huge earning potential.

If you are interested in learning more about this model, you should check out training programs such as Internet Business Mastery and Niche Profit Classroom.

Affiliate Marketing

Based on the pay-per-sale business model, affiliate marketing is one of the most popular online business models today. To earn money through this business model, you have to join an affiliate program, which is relatively easy since most retailers, both large and small, have affiliate programs. Moreover, you can also join affiliate networks such as Clickbank and JVZoo. When you join an affiliate program, you become an affiliate with your own special affiliate link, which you will use to the seller’s products/services. As an affiliate, your work is to use your affiliate link to direct traffic to the seller’s online store. In return, you will receive a commission for every successful sale that originates from your affiliate link. To succeed in affiliate marketing, you need to have a strong online presence. This means you should leverage online marketing platforms such as YouTube and social media sites including Twitter, Instagram and Twitter. Additionally, you should have a website/blog and a mailing list.

Affiliate marketing is probably one of the easiest ways to make passive income online. This is because your only job would be to use your affiliate link to direct consumers to the seller’s site. In other words, you would not need to create your own product, invest in infrastructure or deal with customers directly. In fact, you do not even need you own website to become an affiliate. If you are looking for a good affiliate marketing training program, check out the Internet Jetset Online Course.

Google Adsense

If you own a relatively popular blog or website and want to monetize it with the aim of generating passive income, then you should sign up for the Google Adsense program. Once you sign up to the program, Google will display ads that match your content on your website/blog. When your Internet visitors click on those ads, you will receive 68% of ad value. For instance, if the advertise had paid $1 for the ad, you will 68 cents and Google will keep 32 cents. In essence, Google would be paying you for driving traffic to the advertiser’s site. Google Adsense is a relatively easy and straightforward way to earn passive income, especially if you have a relatively popular website/blog that receives tens of thousands of visitors every month.

Drop shipping

If you want to make passive income selling physical goods to consumers but you do not want to hold inventory or even ship the products by yourself, dropshipping is the right business model for you.

Dropshipping how it works

As a dropshipper, you would be able to sell goods that you neither manufacture nor stock. In other words, your job would be to forward clients’ order to suppliers who would supply the goods to the consumer directly. However, the supplier may include your details on the packaging in case you want to hide the identity of the real supplier.

Take action

We are living the Information Era. The Internet has created an incredible world of opportunities to build businesses based on information or innovative ways to sell physical products. Never before the world has seen so many young people becoming millionaires, and they are doing it through internet-based systems.

Take the time to learn and build some business online so you don’t miss out on this exciting times.

The Importance Of Financial Education

Financial Education concepts on black board

According to a 2017 Consumer Financial Literacy Survey by the National Foundation for Credit Counseling, there is an increase in the credit card debt of Americans. The study also found a decrease in non-retirement savings. A 2016 PWC report shows that millennials have a better financial education than their predecessors.

Working more is Not the Answer

You do not have to work for money. Instead, money should work for you. The 1% of individuals who are billionaires have many passive income sources. The rich do not only make money when they are working. They even make money when they are asleep. Their money and investments are working round the clock. That is why it is usually said that the rich will continue increasing their wealth.

Some people think that working more will result in more money. That is not the case. If you want more money, you need to learn specific skills and concepts that will make you to handle money differently.

Money piles

There is a limited amount of money that you can make by working. You need to have passive income sources. Passive income is the best income source.

Do You Know How to Be Rich?

By default, we are taught to work, save money, and always increase our skills as workers, but we are not taught how to be rich. Financial education is important. It is what will make you to be rich. The rich have information that the rest of the population does not have.

Change Your Financial Destiny

Are you bogged down with debt? Do you have money issues? Millions of Americans have money problems because they lack financial education.

Financial education will make you to understand how money works. It will change your financial destiny.

Financial Education Concepts

Financial Education involves concepts like assets, liabilities, balance sheet, financial statement, and investments.

Assets are the things that you own. Your assets include your car, house, bank balance, stocks, and cash. To be rich, you need to invest in the right assets. There are assets that generate money and those that do not. A car will not generate money if you use it for only personal purposes. A car can end up being a liability because it needs fuel and regular maintenance. However, a motor vehicle makes life to be more convenient and that can make you to generate more money.

Liabilities are your debts. The debts that you owe financial institutions and other people. Debt is bad. You need to avoid debt. You should only take debt if you will use it to finance a solid business idea. You should not use debt to finance personal expense.

• If you want to be rich, you need to maximize your assets and minimize your liabilities. Rich people have very few debts and a lot of investments.

• A balance sheet is a statement of your assets and liabilities. On one side of the balance sheet, you will list all your assets. On the other side, you list liabilities and capital. To be financially healthy, the asset side should exceed the liabilities.

The right education will make you to know how to identify a good investment. When investing, you need to diversify. You should not put all your eggs in one basket. You need to have a portfolio of investments. You should invest in financial market instruments such as stocks, bonds, and ETFs. Since the Great Depression, the stock market has always outperformed the property market. Investing in properties is also a good idea.

Knowledge is Power

The difference between rich and poor people is knowledge. Successful people have high-quality information. That is because they read good books. Often times, those who succeed have the best information. All the secrets of the world are hidden in books. You should not only read newspapers. You also need to read books.

Many books have been written on this topic. Among others, Robert T. Kiyosaki is one of the most active authors teaching people how to change their financial destiny through a different kind of education: Financial Education. His table game Cashflow and his money framework The Cashflow Quadrant have become very popular for learning the required skills for achieving wealth.

Financial education is important. It is a fundamental pillar for building passive income. To be rich, you need to have passive income sources.

Land Trust Uses to Protect Your Property

Land Trust Real Estate

Partners Mike and Joanna want to sell off their property in one of the most happening areas of Denver, Colorado. However, the couple are not willing to reveal their identity. They fear that it could lead to problems with negotiating the best deal for the property. Similarly, Michelle who owns large tracts of farm land just outside Springfield. She too wants to remain anonymous while wanting to sell the property. If you too are caught in such a position and wondering whether it is possible to remain anonymous with trying to transfer, build, rent, transfer or sell your property? The answer is a resounding “Yes”. The solution lies in what is known as the ‘Land Trust‘.

What is a Land Trust

The working mechanism of such a trust is quite simple to understand. It is actually a private legal contract, under which you, the owner of the property, would transfer the title of the property to a trustee. As the owner you will still continue to have all rights over the property. You could for example, sell the property. You could also transfer it to an heir. Alternately you could rent it. If you want you can also build something on it too. All this and no one would know that it is you who are doing it. Given the several benefits it offers, it is not surprising that land trusts are becoming popular by the day.

The example of Walt Disney World is a good case in point in how land trusts work. In the early 1960s, Walt Disney was eyeing vast tracts of land in the Florida swampland. However, the tycoon knew that if he were to go around knocking doors of property owners personally, that would automatically drive up property prices in the area, for people would want to make the most of the deal. After all it is not every day that a business tycoon comes home asking for property. This is when Walt Disney decided to purchase land through several unknown trusts.
There are several benefits of land trusts. Let us take a look at them one by one.

Privacy

As mentioned earlier, the very reason why someone uses a trust is to be anonymous. No one will know that you own a particular property. When your financial dealings or bank accounts are protected by privacy clauses, why should your real estate properties be made part of public records, is the argument put forward by those in favor of the trusts. The fact that privacy is protected additionally offers the land owner protection against entities such as creditors, taxmen or attorneys who may want to seize the land for various reasons.

Keeping price, a secret

Supposing you want to sell your property by using a land trust, you can always keep the deal a secret. No one will know how much you sold the property for. Conversely, if were to buy a property too, you can keep things to yourself. In fact, this kind of secrecy is what drives many people towards these trusts.

Advantage in case of Judgments

There could be instances when several people could be beneficiaries in a trust and a judgement has been passed against one of them. In such cases, the judgement passed will be only on the interest of the beneficiary and not lien on the property. What this means is that the other beneficiaries can continue to enjoy the full benefits of the trust without having to worry about the judgement.

Agriculture land benefit

There could be instances when farming families would want to pass on their agricultural properties to their next generation. However, they could be worried that the heirs could partition the property. They need not worry, for it is not possible for the heirs to partition the property, in the case of a trust.

Protection from ownership issues

There are times when people could go bankrupt or there could be situations arising when there could be legal issues arising affecting a beneficiary. Usually what happens in cases of real estate development is that a court would typically appoint an executor who would in turn oversee the continuation of the particular project. However, the entire process could drag on and lead to delays. This is not so in the case of a trust. For even if a beneficiary were to become bankrupt, it would in no way interfere with the trust’s working. In the case of multiple beneficiaries, the other beneficiaries can relax, as they know that the trust would be carrying on its business as usual.

Helps avoid unnecessary lawsuits

It is a well-known fact that lawyers are always on the lookout for filing cases against those who own prime pieces or vast tracts of property. With trusts though, they would never be able to find out who owns the property.