1. Be genuine in sharing

The first rule in growing your passive income is to demonstrate genuine interest and sharing. Your potential clients can feel it from the content of your website. Be honest about your products. Generally, people will not mind if you recommend something useful. However, you can turn people off easily if people realize what you recommend is actually of less value than you claim.

2. Use social network

As the popularity of social media skyrockets, it would make no sense if you take advantage of them to promote your products. Use social media such as Facebook and Twitter to get in touch with your fans and potential clients. Reply to every comment and reply to every email. Engage the readers in all conversations. Slowly, you will build a marketing army that will market your products for you in their network.

3. Build a subscriber list.

A list of subscribers to your blog is essentially a list of potential customers interested in what you can offer them. It is much easier to promote your products to these subscribers and get them to buy your products rather than doing a general promotion online.

4. Aim to instill value

One of the most powerful strategies. If you can deliver valuable products consistently, who would not want to own them? Put your passion into growing your passive income and aim to educate your clients with your products. It will keep them coming back for more.

Good luck!

Strategy #1: Keep your home and your work desk organized

You spend the most time developing your passive income from home after work. Hence, having a messy home and work desk will make you lose time when you have to search for a missing item now and then. It dampens your working mood and creativity. To be efficient, you not only need to keep them clean and tidy but also make sure they are organized, so that you can find your items at ease when you need them.

Strategy #2: Compound your activities

Do you listen to music while driving or while doing gym? If yes, why don’t you try to learn something about passive income and business at the same time? How? Listen to motivational and inspiring podcasts on your MP3 that will teach you about business and passive income. They are easily available on the internet! You can also read a motivational business book while on public transport or even in queue. Be industrious!

Strategy #3: Spend less time on TVs

If the first thing you do when you come home from work is to switch on your TV and then stick to it throughout the night, you are watching too much of it. Cut down on your TV consumption. Use the free time to work on your passive income. Read and learn about it from the internet or books.

Strategy #4: Use a time management tool

There are several time management tools out there. One of the techniques is by listing down your tasks according to their priority and urgency. Work on those marked as most important and most urgent first, and the least important and least urgent tasks last. Cross them out once you have completed them to have a general idea of your progress. Besides a ‘today’ list, you can also work on a ‘this week’ list or a ‘this month’ list.

Secret #1 Passive income is no get-rich-quick scheme.

Many people thought earning passive income is easy and never expect to put any hard work into it. The truth is, just like any business venture, a passive income opportunity will cost you time and effort before it brings you any decent income. For instance, to sell an eBook on Asian food recipes, you need to spend time planning its content, compiling information, writing, editing, formatting, and marketing. The whole process could easily take months before you earn your first buck of passive income. Unfortunately, many passive income seekers enter the business with the wrong mindset and give up when things do not meet their expectations.

Secret #2 Persistence is the key.

To be a successful passive income earner, one not only needs to be innovative but also be persistent. Receiving monthly rent of your property might be easy, but you still have the responsibilities as the landlord, and you will be the person the tenants call when something in the property goes wrong. The same applies to selling eBooks online where you need to update your websites with new information and features to keep the clients coming back. Expect to do a follow-up on the source of your passive income so that it keeps generating money for you in the long run.

Secret #3 You need to work on your passive income alongside your permanent job.

Many people misunderstand that active income and passive income are mutually exclusive. They are not, at least at the beginning! It is not practical to quit your daytime job just to build your passive income streams. If you do, you are only creating more tension in your financial situation because you would have to rush and squeeze money out of your passive income. Instead, focus on developing your passive income while still receiving your steady monthly payments from your employer.

1. Pick a topic.

Find an area of interest or something you are familiar with. For example, if you work in a publishing company as an editor, you can share tips on publishing magazines or self-publishing. 

2. Survey the market.

Use the “Google External Keyword” tool to find out the search volume for your market. Search volume reflects the interest of the online population on your topic. As long as the “keyword” of your topic has a decent search volume, you can assume that your informational product would have some demand when it is put up on sale.

3. Brainstorming for ideas

Keep a list of ideas for your topic, either in your notebook or on your computer. The single major benefit of writing down all your ideas, as they come in is that you can avoid forgetting about them. This strategy would save you much time if you use it regularly.

4. Get a website up

You need a platform to promote and sell your informational product. Start with using a free blog site such as Blogspot or WordPress. As your traffic builds up and you are making an income, consider upgrading to a web hosting site where you have more freedom in customizing the website for the content.

5. Draw traffic to your website

A common strategy is by creating interesting content on your blog site. This free information serves two purposes: first, to educate the public about the topic, and second, to prime them to purchase your ebook! You can also go to a similar blog, post relevant comments and share the link to your articles. Now you are set to generate passive income online with your informational product

First, generate ideas. You need to set your mind to actively churn out ideas while you are doing other things. Always carry a notepad and pen with you to keep a log of all your inspirations and ideas. Commit yourself to coming out with at least one idea per day. You may start by thinking about your areas of interest.

Second, try it. Once you have generated several ideas, start trying them out to see whether they are workable, including those that might sound absurd. For example, if you can draw well and want to earn money by selling your cartoons online, start drawing them to see how it works! If you don’t try them on, your ideas will gather dust, and you will forget and lose your initial passion for it.

Third, shortlist ideas. Select a few that you think are the most workable, and you are more likely to be able to commit. Do consider your financial status as some passive incomes require capital to start and maintain (e.g. sale of products online, property investment) while others require low or no start-up capital (e.g. sale of services and e-books online).

Fourth, plan it. With a shortlisted idea, plan how you want to develop your income stream. Find out other people doing a similar thing and how they are doing it. Give it a go, even if it does not work well from the beginning. If it does not work out, at least you have tried, and now you can move on to your other ideas.

Fifth, save money. While your passive income might not necessarily need a large capital, you should save some money from the beginning. This allows you to see the outcome of your active actions on your passive income and allows more flexibility in growing your income stream later on.

Once your first passive income has become steady, use this fund to work on the second one, and then the third one!

Before long, you will have multiple passive income streams flowing steadily and making you financially independent!