Discover 7 ways to earn passive income in under 7 minutes

Passive income is a residual positive cashflow of money earned while your asleep, as opposed to the traditional model of trading time for money. Our life span on this planet is extremely limited and when you factor in sleep, work and other necessities the time we have is reduced, which means if you trade time for money your opportunity cost is capped massively. Warren Buffet once famously said - “If you don’t find a way to make money while you sleep, you will work until you die. Now this doesn't seem incredibly appetising, so here are 7 quick suggestions of creating passive income:

1. Blogs/Content marketing - Using platforms like Steem it to generate residual income and cryptocurrency. A lot of entrepreneurs and speakers use content to build credibility, acquire attention, build brand and maximise income. They drive traffic from content to products such as courses, seminars, etc. Attaching affiliate links to book recommendations, your own products/services, etc can lead to passive income.

2. Affiliate Marketing - this is interconnected to blogs/content marketing. You can vertically integrate the two together to produce income. Once you create value from your content you can actually add links to amazon for book recommendation and make a commission of each sale, recommend a personal development courses by Bob Proctor and get a commission of each sale. Each unique link can be customised and shortened which is tracked and paid out of your pocket. The key is to build the audience!

3. Positive Cash Flow properties for real estate investing. This is an effective way to generate long term wealth! Look at this way if the Bank of America lends you money (i.e. mortgage to purchase a property), but won't lend or borrow you money to buy there own company stock what does that tell you? It means that the banks the best business in the world value properties as the number one investment in the world over stocks, crypto and other investment vehicle. It is stable, stood the test of time, everyone needs a place to live especially in an increasing population. If you do the numbers right you can own a positive cashflow property that pays off the mortgage, increases your equity position (i.e. ownership of the property) your paying down the principal, there might even be some net profit left over and having more ownership/equity of the house can allow you to borrow more money to buy more investment properties. After that its like monopoly you buy one house, then the street then own the City!

4. E-Commerce/Drop-Shipping: You can create an online store and sell products from Alibaba Express that are unique and not on Amazon. Then you can target people with Panda costumes for example on Facebook by their age, gender, income, interests in panda/costumes, location and get your ad directly in front of them. Once you acquire the sale as they click on your ad (shop through your online store), which is very easy to set up. They pay you X amount of dollars which you earn for your hard work. The rest can be automated, so once the sale is confirmed your store on Shopify will notify Alibaba to ship the order to your customer. You confirm the sale it gets shipped with your packaging on the product direct to consumer, which means you don't have to carry any inventory or overhead. Using apps like Oberlo allow you to do fulfilment and handle all shipping inquires. Make sure the mark up on the product is sufficient and expenses are covered and away you go. Passive income is here ready to roar! I recommend using Ben Malols Facebook Ads and E-Commerce training extremely valuable and affordable.

5. Network Marketing - Bob Proctor and Robert Kiyosaki both mention as one of the best career paths to explore if they were all to start from scratch again. It's a great way to learn valuable business skills, acquire a network of like minded people, scale your income and help an enormous amount of people. The only trick is you have to be great at it like anything. Tom Brady is always going to make more than the average QB and so is the top 3% of network marketers. Another thing to note is to get behind a product/service in network marketing that adds value and helps people. This way it will allow you to really exponentially scale and grow rapidly. The mechanics of network marketing follow like this once someone works underneath you whatever business they bring you make commission off. For example, I bring in 10 people into the company then I get commission on the 10 people I originally recruited, plus any commission off any new members they recruit. So once it's set up the income can grow like crazy and it's a cascade effect.

6. Invent something - books, audio tapes, online courses. Producing and creating products is a effective way of generating income. Developing books, audio tapes and online courses around a skill you have such as sales, trading, mindset, or any other unique skill you have that adds value to the market place is amazing passive income. You can target individuals globally on Facebook advertising and target them based upon income, demographic, age, gender, location, interests, etc. These sales can be generated while your asleep organically or through paid traffic such as Facebook ads. This can also be vertically integrated into your main website and your content marketing/blog/affiliate marketing too.

7. Dividend stocks/index funds - this is an effective vehicle to compound your income. The best example is Warren Buffet - if you study what he has done and recommends. For the average investor sticking your income in an index fund which is a selection of companies that are diversified such as the S&P500 which on average has 10% annual returns over the last 10 years is sensational. Considering your avoiding management fees because it's self directed and you hold the fund over years to come and the returns will look after itself. It pays a dividend each quarter (3-months), which can be reinvested so you own more of the fund over many years to come. Similarly, choosing well established companies such as bank stocks, insurance companies that generate cashflow and have a high dividend yield allows you to make money and increase your shares in your portfolio whether the market is up, down or sideways. Overtime the returns you'll make will be remarkable and steady, however this is a long term approach to accumulating wealth.