Passive Income Streams, Ideas and Examples – Affiliate Marketing

Passive Income Streams, Ideas and Examples – Affiliate Marketing

Affiliate marketing allows you to sell others peoples products without having to hold any stock yourself. It is a powerful way of starting your passive income empire as you do not need to invest a great deal of money up front to get going. Also, when you have established a presence on the internet you probably do not need to do a great deal to maintain your position and continue to earn money on auto-pilot. There are lots of affiliate schemes out there, but probably the best known is Amazon Affiliates. The Amazon scheme pays you a percentage of the sale price for direct customers to certain products or services.

The Basics

If, for instance, you are interested in gardening and manage a website dedicated to growing tomatoes, you can recommend products to your readers, which if they buy will generate you some income. To create a link you need to sign up for Amazon in territories you intend to sell to. So, if the majority of your visitors are British then focusing on Amazon.co.uk would be the best thing for you.

Passive Income Streams Ideas and Examples - Tomatoes

Amazon will pay between 2% and 10% commission on purchased made following a click from your site. The purchase needs to be made within 72 hours of clicking on your link, however it doesn’t matter if the customer purchases a product you recommend, or something else. What matters is that they have used your link and bought something with 72 hours.

Why Amazon For Affiliate Marketing

Lots of people already have an Amazon account and have good experiences of buying through this channel. If the product you recommend is good and you are helping someone solve a problem, by linking to Amazon products you do not have to overcome the hurdle of customer trust. You see, your visitor will already have established a trust with Amazon and will not find it hard to part with money on their site. This is all good news for your passive income stream.

Also, if your site has a global readership, then you can have multiple links to supply products for different regions.

How to Get Going

Assuming you’ve already created an Amazon Affiliates account, what you need to do is create some content which can be accessed online and input a link you’ve created on the Amazon site into your content. Once you have the link within some useful content, then you need to make sure hundreds, thousands and millions of people read the content and are so convinced by your solution they will click the link and buy the product.

Getting visible on the internet is a dark art and one which entire websites are dedicated to. To get you started I would suggest you have a read of Pro Blogger by Darren Rowse as it provides a wealth of information about making successful content and getting your website seen.

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Passive Income Streams, Ideas and Examples – Introduction

Passive Income Streams, Ideas and Examples – Introduction

Passive Income has become increasingly popular over the last few years. Having a look at Google Trends, you can see the relative popularity has increased steadily over the last ten years. The following graph was captured the day this article was written (May 2016) and shows how popular this Google Search Term has become:

Passive Income Interest Over TIme Google Trends

It seems more people want to be able to make money whilst sipping cocktails on the beach. And whilst this idea is theoretically possible, passive income rarely delivers a luxury lifestyle with no effort whatsoever. Instead, it is best thought of as a top up to compliment your main source of income and to help reduce burdensome mortgages and other life expenses. This is how passive income supplements my income and is used to help accelerate the  rate in which my mortgage is paid off.

Passive Income Fundamentals

The first thing everyone needs to know about passive income is that work is required up front, maintenance is often required and to make a profit, you need to earn more than you spend on creating your passive income stream. This all may sound easy, but you’ll typically find to start off with you spend more than you generate to get things off the ground. And without the right kind of motivation, you may give up and end up losing any start-up investment.

Diverse Passive Income Streams

Passive Income Streams

It is best not to put all of your eggs into one basket. When one stream is performing well, it may be supporting other less established streams, or providing you with the capital to develop new streams and scale your ideas. Diversifying means that you are less likely to lose everything if one stream performs poorly. For instance, if you have a stream of income which depends upon organic Google search traffic and the search algorithm changes, then having a passive income stream dependent upon Facebook might save your bacon. Being as nothing is guaranteed, you can take out your own insurance policies by having diverse passive income streams and keeping them all ticking over.

Others Can Help

You may be put off by the sheer amount of work involved in setting up your income streams. Don’t fret as you can always outsource some or all of the work to others. Before you do this though, you will need to have a clear idea about who you want to do your bidding and how they will go about it. The use of Fiverr and other freelance sites can help you get things done quicker, however you should spend time working out whether the work done by others is going to need lots of additional input from you.

Tim Ferriss in his book the Four Hour Work Week writes a lot about using virtual assistants and making the most of their capabilities. To make these pay you need to have first worked out whether your money making stream is going  to generate enough income to cover all of these costs. And, again you need to be careful when selecting someone who will work under your brand.

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The Placid Star Manifesto – Life. Adventure. Work.

Life. Adventure. Work. Manifesto

Here at Placid Star we believe that to do great things you need to be peaceful and calm. Unwanted stress creates unwanted results and gets in the way of being happy and fulfilled. Put into three words, the Placid Star ethos can be boiled down to Life. Adventure. Work.

Life. Adventure. Work. Digital Playground

This site therefore is a digital playground where we get to write about three crucial strands and help others in the process. This medium allows us complete freedom to be who we are without limits. It allows us to express our opinions on things we hold dear without having to get approval.

Life

Life. Adventure. Work. Life

Having a life and making the most of it is the most important thing there is. It is not good enough to exist, one must get the most out of life! To intentionally mis-quote Henry David Thoreau when writing in the excellent Walden [UK Link]:

I wanted to live deep and suck out all the marrow of life

If you can live deep and get the most out of life, then, along with us you will be living with purpose and intent. Being able to stop and smell the roses, enjoy the view, or watch the sea is one of lifes treasures worth taking time over.

Here at Placid Star we strongly believe you should be leading the best life possible. We aim to help enrich your life and experiences by writing essays which reflect on common issues associated with modern society and point out ways in which you can better approach them.

Adventure

Life. Adventure. Work. Adventure

An adventure is an exciting or unusual experience, often with uncertain outcomes. For you to life more purposefully and make the most of your precious time then having adventures is key to finding out what works for you.

This is not just the adventure of visiting new places and seeing new things (which we still recommend by the way), but the adventure which takes place within your mind and through everyday experiences.

Here at Placid Star we aim to help your become more adventurous by documenting some of our adventures and writing about what is and isn’t working. We intend to show you that many new and unusual things are open to us, if we just open our minds to the possibility.

Work

Life. Adventure. Work. Work

Unlike the many others out there, this is not a call to jack in your job. Instead we advocate making the most of your talent and time. Whether this is working for yourself or others, it does not matter. What does matter is the time you spend at work must be time which enriches your life and supports your adventurous nature.

Work not only financially supports life and new adventures, but is a massive part of who we are and what we do.

Here are Placid Star we aim to open your eyes to ways of working and thinking about work which supports your life and the many adventures you plan to have. As part of the work strand we will also look at the spoils of work and help you focus on activities which produce the greatest return.

Finishing Up

So if the Life. Adventure. Work. manifesto interests you, then please share us with your friends through the usual social media channels and get in touch if you have any suggestions about what you’d like to see on here.