I did some research the other day about all kinds of ways to start generating passive income through royalties in your spare time. One of my favorite ideas I have found so far is Zazzle where you can create your own products(almost anything you can think of), from Coffee Mugs, to T-shirts and Hoodies, Bumper Stickers, etc...
I fell in love with this concept when I noticed another fellow IB user has her own store on Zazzle. Her name is mommymommymommy and she's one of the most successful IB writers on here. I decided to give it a go and my goal is to create 10 new products a day. Here's the beauty of the system. I believe that the products you create will be available for just about anyone to buy and also I believe that other people could promote your created products for you. Either way, you still collect a royalty for every item you create that gets sold. The royalty is a minimum of 10% and goes up to at least 30% and you have complete control over that. The beauty of Zazzle is that they handle all the inventory, shipping and handling, etc... You have literally no overhead and it's completely free to get started with your own store.
Another way to use Zazzle is to build your own store promoting other people's products. In this way, you're taking the position of a referrer to Zazzle products and you earn a sweet commission every time you make a sale through your store.
I have a good trick up my sleave as to how I'm going to consistently create products on a daily basis and keep them coming and never run of out great new product ideas. I just signed up today and I've already create 10 mugs. Tomorrow, I'm going to be making 10 other products, not necessarily mugs though... I'll probably be making T-shirts.
You could even use your own designs to create products on Zazzle and it's just so easy that anyone can do it. The only investment you need to make is your time. And even at that, it shouldn't take you too much time to create products every day. Don't make this take all day. Once you get more experienced, you'll be able to do this really really fast. Also, I read on a forum that the more products you have, the more money you'll make or at least the more opportunities to earn you will have. This is pretty obvious and makes a lot of sense.
Another tip I wanted to give is that my own plan is to not do much promotion of my zazzle products at first. I want to see if any of them will take off just because of the huge amounts of traffic Zazzle gets on its own... People go on there every day to buy products so it would be interesting to see if I could start creating a trickle of sales with very little to no promotion whatsoever. That's the plan. I'll then re-adjust course and start promoting my products heavily if I see that it's necessary.
There are a lot of ways to promote your zazzle store.
The reason I have become so obsessed with the concept of royalties is because I did some reading lately and I picked up a copy of The Millionaire Fastlane by MJ de Marco in which he recommends that if you want to become a millionaire, one way to make it happen is to create products that will allow you to collect royalties for the rest of your life.
The end goal in this new business venture a is to set this thing up so that it ends up being automated. That's the end goal. I want it to be at least 90% automated which in other words means that I won't need to put in a lot of time and energy anymore to keep the money coming in.
The secret to my approach to creating products on Zazzle is a little trick I found on the Warrior Forum. If you've never heard of the Warrior Forum, I highly recommend you join RIGHT NOW! And start reading all you can from that forum. I have learned so much through spending time in there and I got so much help in my own journey to make it online.
I recommend you try to launch your own Zazzle products because I do believe that this is a great opportunity for anyone to begin supplementing their income. Remember, it's completely free to start!
One thing I have noticed is that a lot of the other product creators there on Zazzle.com are creating pretty low-quality products and therefore I believe it will be very easy to outperform 99% of the store owners on there as long as you stick to creating higher-quality products.
I'm still trying to figure out how to get people to promote my products for me because that would be really cool. It's almost akin to having your own product and having affiliates promote your stuff for you.
Here's a little information about how much you'll earn from each sale. I'll use the example of a coffee mug that you created to show how much of a royalty you'll earn for every sale. For each sale of your coffee mug that you make, if you choose a 10% royalty, you can expect about 1.50$ in royalty income coming your way. If on the other hand you choose a 20% royalty, that's a 3$ royalty for each sale. 30% royalty? Triple your royalty check and earn 4.50$ for each sale. I've decided to stick to 10% to start because first of all I didn't want to be greedy and second of all, I wanted to see how well these things will sell.(10% is the minimum royalty you are allowed to choose).
As always, comments are welcomed and encouraged. Will you check out Zazzle? Cheers!