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How To Earn Passive Income Online

By Edited Jun 10, 2015 0 2

Earning passive income online is very easy to do, but most people usually overlook this powerful method. Being able to do work once and get paid consistently over long period of time will enable you to allocate your energies towards other moneymaking endeavors. I believe the main reason people are so confused about earning passive income online is because they've been led to believe the internet isn't a reliable means of supporting yourself.

Make Money Online

These people need to understand this is far from the truth, all you need to understand is the internet isn't a place to get rich quick. You'll have to build a long-standing business model that'll offer value to customers not once, but over and over again. In this article I'm going to discuss the ways to do this.


Running an eBay business

So many people seem to overlook running an eBay business when looking for a passive income opportunity online. I would agree eBay has gotten much tougher in their rules and policies over the course of the past year, but this doesn't mean you still can't make a decent living from running an eBay business. Plus you have to remember the goal isn't to get rich by using eBay but to simply bring in a little extra money every month.

Do your research; find which products sell at a consistent rate and for a consistent profit. Then add some credibility to yourself, get a personal tax ID number. You may also want to open up a DBA[1] so you can open up a business checking and savings account. Not to mention you'll be able to purchase products from wholesalers who refuse to do business with anyone who doesn't have these things.

Setting up a niche sales site

Many people get confused on this one. All you are trying to do is find a group of people who have a certain problem or have a need that's ongoing. You'll want to find a way to reach out to these people and offer them the best solution and/or product that'll help them.

Once you're able to establish a customer base you'll be able to sell to these people over and over again therefore creating a passive income for yourself online. Once your customers see you're dependable and reliable they'll come to you before anyone else. All you'll have to do after this is find the best price for the products you hope to sell in order to ensure yourself the highest profit margin.

Investing money in advertising

I understand some people may not have the time to devote to these types of tasks. If you have extra money on hand you can simply pay for advertising in order to reach the customer base you're hoping to sell to. You can find advertising for very cheap on the internet or you can spend a little more money on higher forms of advertising.

Being able to earn passive income online is very dependent on getting your products and services in front of the right people. If you find spending a little bit of money does this for you, then it may be a good idea to see how much money you can afford to spend on advertising each month.

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Comments

Jul 10, 2010 11:05am
jcmayer777
Really good article for those looking to go beyond writing on sites like this one.

eBay has been on my to-do list for quite some time. I have some friends that make a nice second income from eBay.
Jul 10, 2010 12:56pm
Introspective
All good ideas. Setting up a niche sales site sounds easy, and the "setting-up" part is, however, finding the right product, then finding customers, that is the difficult part. I've been thinging about that for a while now. Nice article!
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Bibliography

  1. Small Business Administration "Register Your Business Name." SBA.gov. 21/04/2014 <Web >

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