One of the passive incomes I am trying to developing is Multi-Level Marketing. However I am not looking to sign up for a MLM business but rather start my own. I don’t know how many times I hear of people working for years to develop a downline of members only to have the company go out of business or change their rules.
I don’t want too put in a lot of work only to have this happen to me. I would rather have full control over the MLM and therefore ensure my work will count.
I have been doing a lot of research recently on MLM businesses. I noticed that 80% of the top producing MLM business are either nutrition or beauty businesses. Obviously this appeals to a lot of people otherwise there wouldn’t be so many businesses in these fields.
I want my MLM business to be in a different type of business since these two markets are way too saturated to compete in. I have narrowed down my ideas to about three. I will post the final MLM business once I decide on it for sure.
I have had some of my ebooks in the kindle store for almost 2 months now which is enough time to make an opinion on my results.
I have around 15 ebooks in the kindle store which is available for sale at both Amazons U.S. and U.K sites. I noticed that I have much fewer sales in the U.K. so I believe that market may either be saturated or not enough traffic to the site.
However the U.S. store has more than made up for low sales in the U.K. store. It proves to me that information products are the way to really make a living. Since one ebook can literally be turned into 5-7 other information products this looks to be a potential gold mine.
I just recently wrote an ebook about how to use your knowledge and experience to create and sell information products at infoproductsmillionaire.com.
Although I don’t consider myself smart I do have plenty of experience and knowledge that I have made into info. products that get decent reviews and sales. I am sure there are plenty of people just like you that can make a ton of money writing these info products.
I have always wondered what kinds of money these guys who make documentaries make. Apparently its pretty good. I used to follow a website called residualsandroyalties.com in which the author was a part time actor. He decided to sell his website several months ago so I don’t believe there are any new posts on it but he listed his monthly residual income from his short commercials.
I believe he made a few $1,000/month in residual income from these small acting gigs. Not bad for a few minutes on camera. Then I started watching MTV’s “The World Of Jenks”. This show documents different peoples lives as Jenks follows them around a typical day in their lives.
A good idea would be to document some interesting subject and post it on youtube to get interest and then try and get in listed in Netflix. I believe that every streaming of the video makes residual income. This would be a fun way to create passive income.
As I talked about earlier I was considering grouping multiple ebooks in a package for sale. One of the books I am now selling my 6 internet related package is my “How To Retire Before 40” ebook.
Since part of the ebook talks about making internet income to fund an early retirement I figured this would be a great place to sell the internet business package. This package now includes:
1. How To Make $1,000/Month Taking Surveys
2. Top 10 Writing Sites For Making Money
3. How To Create & Monetize an Ebook
4. How To Create & Monetize Websites
5. How to Make Money From Domain Parking
6. How to Make Cell Phone Apps
Here is the “How To Retire Before 40” ebook site which includes the grouping of these ebooks. I think this will be a good fit with this ebook.
The other night I was finishing up uploading the design I came up with to the drop shipping products which are mostly clothes. The design is to target sports gear buyers and I think it’s a pretty nice design. The sales will tell me if it is or not.
If your looking to design your own images or logos and then sell them on products such as I am doing now I recommend customdropshipper.com. If you really plan on doing it properly you should get their $20/month plan. This plan allows you to custom design your site, advertise on your own site or ebay, and the company handles all the orders for you.
This is potentially a great way to sell physical products and tap the segment of internet buyers that will only buy physical products not just ebooks, etc. Here is the look of my initial site with my logo on them to give you an idea of what I am talking about.
Bottom Line, this looks to be a great passive income using physical products with your logo.
I have been working on a passive income project using a logo I came up with and combining it with a drop shopping company. If your not familiar with drop shipping it is a company that will allow you to sell its products through your business name. It is a great passive income since all the products and shipping are handled by the company.
The only thing you need to do is price, promote, and upload your logo. Then your in business, it really is that simple. This is why I am such a fan of drop shipping. Even though I sell mostly ebooks many people only will buy a physical product.
So drop shipping will allow me to create a new form of passive income, create a brand with my logo, and attract a new type of buyer. This should fit it well with my overall passive income plans.
If your looking for income from stocks you are going to want to be investing in high dividend paying stocks over 4%. Since the yields and P/E ratios and share price move so much it’s important to get current and up to date information.
I subscribe to a monthly dividend newsletter that list all the dividend paying stock under $10, the top 100 highest paying dividend stocks, and a large range of other statistics. This is good if your a bargain hunter like I am. I like to buy these quality companies at a discount, its like buying food on sale at a grocery store only you make money instead of spending it.
For $19 a month you get these up to date dividend reports that can make you a great deal of money if you use them to time your investments like I do. Here is the monthly newsletter and report. I highly recommend this report if your serious about investing in income producing stocks.
Another passive income I have been researching a lot of has been franchising. I love that you can basically buy a ready to go business with a corporate program and system already in place.
What I don’t like are the high start up costs and franchise fees that you will pay for the life of the franchise. Last I checked buying a Mcdonalds franchise cost from $500,000 on up and that doesn’t include the physical restaurant or land.
Most entreprenuers would either have to take out a loan or already have about 1 million dollars in cash. Since this automatically disqualifies many people I think there is a better way. Why not start your own business and create your own franchise to sell to others.
It’s not as complicated as you may think. Create a business, write manuals on how to set up the business, create a training manual, videos, provide a training consultant, and get a 1-800 # and your basically in business. This is an overly simplified version but not by much and anyone with some hard work could make a franchise out of almost any business.
One way to make more money with your ebooks and other informational products is by expanding your line of products. This could be through expanding an ebook to include audio, video, kindle, physical book, etc.
An area I am looking into is grouping a group of related ebooks into a package for sale. For instance most people looking to work from home would be interested in surveys, writing, making websites, making ebooks, domain parking, and phone apps.
Rather than try and sell individual books why not group the ebooks into one package and sell it as a complete home business which it is. So by adding a work at home package of ebooks with my retire by 40 ebook is a perfect match.
Using this combination would allow almost anyone to retire without much money since they would have all areas of internet income generating passive money.
I know most of you have heard of Amway or Mary Kay which are both Multi Level Marketing Companies also known as network marketing. They sell items to their members and get a commission as well as from signing up new members.
The more people you sign up under you the more passive income you receive from their sales. The theory is that once you get a number of people signed up that you won’t need to work a job again since the passive income will automatically be generated.
The reality is that even if you do manage to get people signed up under you and they do get sales the MLM companies either change the way they pay commissions or go bankrupt. I have heard of countless people spending several years building a down line only to lose it due to changing rules and company changes.
So I came up with a plan to create my own MLM so that this won’t be an issue for me once I put in all the hard work and time. Even though I am not a big fan of MLM I want to expand all my passive incomes and having a down line of sellers could definitely create a nice passive income.