I'm for the internet business idea.
Investing takes some know-how too and you either get someone to do it for you (and she might take part of your capital as her commission) or you have to do the research yourself (with no guarantee that your investment will see returns let alone passive income).
The best and simplest way forward is to build an opt-in email list of leads.
Pick something you're passionate about, a hobby in which people are crazy enough to fork out their hard-earned money for.
If you can't think of any passion that you have which could potentially make you money, just pick anything that is relatively easy to 'pick up' and not something that you'd hate. Ideally, something that requires minimal technical know-how.
Invest in an email marketing system like GetResponse. It's less than $20 per month. You don't need a website. A BlogSpot blog would suffice.
Find some products related to your chosen niche and join affiliate programs that pay you per lead or per sale of said products.
A good place to find cheap infoproducts based on lucrative niches that pay you 100% affiliate commissions (anywhere between $7 to $9 per sale - because of the low price, sales conversion rates are high) would be 7DollarOffers.com. Another popular destination is ClickBank.com.
If your niche happens to have products or services that pay you monthly commissions because of the monthly fees they charge customers, that'd be great too.
What you are going to do is affiliate marketing on autopilot until you can get passive income.
Your available tools will be the opt-in email list of leads you're going to build with your email marketing software service and your free blogspot blog.
Pay a tech-savvy kid in your neighbourhood to install an opt-in form on your blog and have it set up.
What are you going to put on your blog? Articles reviewing products in your chosen niche. Of course, these products must be those that pay you commissions if your recommendations yield a sale.
Don't worry. You don't have to write the articles yourself if you don't want to. Unless you are truly passionate about the niche you've chosen and writing about it gives you pleasure, of course.
What you want is to write enough articles on your blog until it achieves critical mass that it attracts natural search engine traffic.
If you don't want to write, you can get ghostwriters. I don't recommend elance.com or guru.com. Go to forums such as DigitalPoint or the WarriorForum and ask around for good writers.
Invest about $400 out of your $1,500 on a lifetime membership to ArticleMarketer.com. What you want to do is submit all your articles to their article distribution service to maximise search engine traffic to your blog (and to your opt-in list).
Oh yes, your automated email marketing series should include emails pointing your subscribers to the latest articles on your blog as well as your heartfelt recommendations for good products in your niche.
The advantage of this strategy is that you're making money doing something you love, without even doing all the hard work. You're using your money to leverage on the skills, time and effort of others.
For the first few weeks or months any income you'll earn will be active, not really passive. But if you stick it out, you'll come to the point where you'll only need to work 1 day in a week (to send out a product promotion by email) and your income for the next few months will be covered.
|