One of the keys to starting a new business for me or at least experimenting with an idea are that the business needs to become automated at some point. It also is a big plus if it can also continue to make passive income with little to no additional time spent after the business is set up.
Since not to many businesses can meet this standard I have begun to look outside the internet for a new passive income business. Upon doing some additional research I came up with the idea of experimenting with getting a 1-900#. These numbers charge the caller either by the minute or per phone call.
Some of the common 1-900# seem to be around the topics of stock picks, real estate advice, business advice, astrology, etc. Since I couldn’t read anyone’s future to save my life astrology and fortune telling are out of the category.
Stock tips would be ideal but their could be some potential liability if the advice didn’t pan out but I haven’t totally ruled this out. I am leaning towards some time of financial daily advice that I can record everyday and than charge by the call not per minute.
The upfront fees are a little steep especially since you would have to pay monthly fees as well but since I am looking to branch out from the internet businesses I may give it a try. This site looks promising and has lots of additional information if you are looking into the possibility of starting your own Paid Per Call business.
I have been considering the possibility of creating videos and posting them at various video sites like youtube and revver for some time. After hearing about the mom that posted a short less than minute video of her small son making a funny face after she sneezed and was able to fund her sons entire college fund from the revenue generated from that one video I am sold on the idea.
As with many cell phone apps that are free to download these videos generate their income from the ads that run on the videos. Every time someone watches the videos a add is either running at the bottom during the video or you must watch the ad before watching the video.
I wonder how many of you have funny or stupid videos that they could post to these video sites and make a ton of money. Realistically few people make much more than a few $1 but if you get lucky and it become popular you could hit the jackpot.
Just because it is not easy or common for most videos to get thousands or millions of hits doesn’t mean you shouldn’t post them and try. There are more people doing this than you think and some make a full time living on their video income.
In any case it’s worth a shot. Next time your see something funny or unusual record it and post it to a video site, you never know.
Many people try to make money with Amazon affiliates but few make any money trying it. The reason is most people won’t buy an item that’s only placed in a Amazon affiliate box. I learned this the hard way as most internet wannabes do by trial an error.
As in most selling online you need to write a post or provide detailed information on your experiences using the products and the benefits that the product gives a potential customer. The most important part of making a sale on Amazon is to sell a product that meets a need to a reader.
Would you be more inclined to buy this product using a Amazon Box like this:
or would you buy a product that was thoroughly written about with a link at the bottom of the article like this:
The movie the “Social Network” is the true life story of how the founder of Facebook started the company. It features actors Jesse Eisenburg as Mark Zuckerberg (Facebook Founder) and Justin Timberland as Shawn Parker (Napster Founder).
This movie was amazing and showed how ultra smart Zuckerberg whom was virtually friendless started the largest social network. It shows just how much of a genuis and smart-ass he was to the students and administration of Harvard.
The movie then became extremely amusing when Napster founder Parker entered the picture with his keen sense of business savvy and wit. The shots of the lively business being formed with computer dorks mixing with Facebook “hottie” groupies was funny.
The ending was superb and the acting was amazingly good with Jesse Eisenburg nailing the part of Mark Zuckerberg. If your looking for an entertaining and brilliantly acted story line see this movie: The Social Network (Two-Disc Collector’s Edition)
Ok, I will admit I went a little over the edge with the movie review but you get the point. You need to build up the benefits of the product to get the sales.
You probably are familiar with C.D.’s (certificate of deposits) that can be bought at any bank however most C.D.’s have penalties for early withdrawals and a minimum deposit.
These minimum deposits usually start at $250 and up with most requiring at least a $1,000. Ally Bank has no minimum initial deposit and also has no penalty for early withdrawals. Since most C.D.’s are from 6 months to 5 years in length having access to your money is a nice option to have.
Ally bank also makes it easy to open and fund their C.D.’s since the entire process can be done online. Their rates are generally from 1-2% annual on 1 year C.D.’s which isn’t bad especially when you consider the fact that most checking and savings account pay under .5% annually.
If your looking to start saving on a limited budget this program is ideal. You won’t get rich from these C.D.’s but it’s a good way to get the savings momentum started while learning about C.D.’s. They also make a good plan to start an emergency fund of 6-9 months of monthly expenses.
Many stock brokerages offer special limited time programs and this includes free stock trades however few also don’t require a minimum initial deposit to open an account and trade for free.
Options House is running a special 100 free stock trades to any new account and the free trades are good until August 1 2011. These trades are free regardless if their market, limit, or stop loss orders. The free trades are good for any type of stock including penny and OTC stocks.
If your on a limited budget or are looking to make some small risky penny stock bets this type of account would be ideal. It is also a great account for experienced investors as well since their ease of placing orders and research platform is one of the best in the business.
When the free trades do expire on August 1, they charge only $3.95/trade so its a keeper. This is a little known firm so jump on this deal if you have a chance.
Many investors think that they have proper diversification since they own several different industry stocks however if your missing precious metals your not protected in times of inflation and economic uncertainty.
When the majority of stocks decline metals normally rise. Precious metals can protect investors during a declining dollar, increased inflation, world catastrophes, and economic declines and it is for these reasons that investors should own precious metals.
It used to me common knowledge that 5-10% of an investors assets would be sufficient protection to cover the declining assets however even Jim Cramer from Mad Money is recommending a higher percentage.
There are many different ways to own gold or silver inlcluding:
1. Exchange Traded Funds (ETF) – Gold stock symbol is GLD and trades at 1/10 the value of an ounce while silver trades with the stock symbol SLV.
The benefit of buying the ETF is the liquidity of your money but try cashing it in when their is an economic crash so many investors buy the actual metal.
2. Bullion Coins – Gold and Silver coins can be bought through any coin or bullion dealer at the spot price plus a few percent. There is something about holding the physical bullion coin that is satisfying.
The benefit of owning the physical commodity is that you can easily take it with you or use it if you would ever need to. The downside is that you need to have secure storage for it.
Other options for owning precious metal are owning the mining stocks, rare coins, and to a lesser extent jewelry. No matter which way you choose to invest in precious metals it’s a good idea to make it a part of your diversified portfolio.
When I first got into the real estate investing business I was pretty ignorant to the possibility of getting sued. I had never been involved in a legal dispute before nor did I ever expect too since I conducted my behavior and responsibilities appropriately.
Fast forward several years and I have been involved in multiple lawsuits and everyone had little to do with my own actions. Lucky for me my realtor at the time had recommended “Prepaid Legal” which for a monthly fee of around $25 provided the legal answers, recommendations, and representation for these lawsuits.
The first lawsuit involved a pedestrian tripping over one of my rental property sidewalks and suing me. I called the real estate attorney at prepaid legal and they recommended that I not even respond since it was probably a nuisance lawsuit. He explained that “deadbeats” attorneys check the county courthouse for landlords that have multiple properties in the hope that their insurance will settle it out of court. Long story short I never heard back from their attorney.
The second lawsuit involved a dispute with a contractor whom quotes me a price for railings that needed to be added to some steps so I could accept a HUD (Section 8) tenant. After the work was completed the contractor wanted double of what he had quoted me. I tried to rationalize the quote with the contractor but it did no good. After a few calls to the attorney at prepaid legal they wrote a few legal letters including the possibility of a counter lawsuit by me. Eventually the case was settled for the original quote.
I had multiple lawsuits from tenants in relation to eviction hearings and called prepaid legal to find out exactly what I would need to bring to the hearing in order to prove my case and drop the counter lawsuits. I won then all since the district magistrates were so impressed with my documentation.
So for a little money every month you can protect yourself, your family, and your business using this service. Best of all they have a referral commission where your receive a upfront bonus and monthly commissions for every person you bring into the plan.
Their is a fee of $250 to become an associate but this is one MLM/Network marketing program that actually helps people and is not some scam to just make money off of useless junk or services.