How To Create Multiple Streams of Passive Income

Today more and more people are interested in creating multiple streams of income because of the prevailing economic conditions. However, even though many people understand the importance of it, most people feel overloaded with information and simply never get started. Through this article I will give you 4 ideas to earn more while working less .

Create a Passive Stream of Income by Writing a Book

One thing most people fail to understand is that they all have a story to tell and are experts in at least one area of their lives. Maybe you you got out of an abusive relationship or earned a huge salary increase. Maybe you are very good at gardening or create bird houses that you distribute to friends and family. Whatever it is that you are an expert at, there is a need out there for the information you have to share. So put it into a book and you have an instant source of passive income. All you need is a computer with an internet connection and the willingness to learn to market your product and you are set.

Create a Passive Stream of Income by building a Network Marketing Business

Network marketing businesses are fantastic streams of passive income. While I agree with the fact that the failure rate in the industry is 97%, what most individuals fail to understand is that they need to work it like a business not like a hobby. However this doesn't mean you have put in extra long hours in to the business, but rather that you should allocate 80% of the time that you spend on the business, doing income generating activities. After a period of time (depending on how rapidly you built the business), you will see that you have growing stream of residual income.

Venture into Affiliate Marketing

This is by far one of the best sources of passive income, if you are able to spend time researching and learning some basic techniques of affiliate marketing, you will no doubt be able to create a very profitable source of residual income.

Collecting Shopping Points will help you create a solid stream of passive income

This is by far my most favourite method because, by switching from "brick and mortar" store products to an online store which not only provides me with 'green product choices', but also helps me shave at least 10% off my monthly shopping expenses. Further this strategy also ensures that I have additional money in my pocket, while enabling me to earn additional shopping dollars for future purchases. Most importantly, the company has also helped me earn a reasonable residual income for introducing others to the store, thus enabling me to develop one of my many streams of passive income.

If you want to learn more strategies and how you can start developing multiple streams of residual income please schedule a free strategy session with me by clicking the url below and I will be glad to share more ideas with you.

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Raven Michaels, helps stay at home moms, looking to build multiple streams of income. If you would like to learn more strategies to create multiple streams of income or if you want to learn, how to work less while incresing your income, then schedule a FREE strategy session with Raven at http://www.virtualcocktailwithraven.info

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