As your business ebbs and flows, the idea of having a passive income is probably becoming more appealing. Basically, a passive income comes from a source of profit that requires little or no effort on your part to keep the flow going. There are a number of other benefits to creating this type of income. Here I'm sharing just a few.
One of the most recognizable benefits of creating this type of income is that there is very little overhead. Most of these incomes are information based, so you do not have to worry about storage, delivery costs, or even the cost of raw materials. That way, more of your passive income can be transformed into profit.
Another advantage of passive income that you might not realize is that it is a lot easier to distribute in mass quantities. By using a website or an email list-service, you can easily distribute the information to hundreds, if not thousands of different people. To accomplish the same task through the creation of CDs or DVDs would be extremely cost prohibitive.
Of course, a third benefit may not immediately be apparent. A passive income can be a great way to build a quality reputation among the Internet community. By providing your expertise at a relatively low cost, you'll be seen as the person, the expert to go to when more information is needed. This is one long-term benefit that can not only help your bottom line, but help your business grow as well.
Finally, a wonderful benefit of creating a passive income is that it allows you to use ideas or items that are already in place. There really is no need to create brand new content for an information product, provided that the original information is still valid and usable. For example, a special report or e-book can contain information from previous blogs, replies to various comments on your website, and even information attributable to other sources. In a number of cases the information used as a passive income source can be nothing more than a rehash of what you already created.
Carrie Wilkerson is the voice of experience. From corporate life to teaching high school to direct sales, she has 'been there and done that' professionally and personally. An 'overnight mom' to 2 toddlers through adoption, her priorities instantly changed and so did her workplace.