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With passive income, you may do a lot of work upfront to setup the passive income system but eventually you’ll be able to minimize your participation in those projects and still get paid. Please note that passive income is not considered a one-time lump sum payment, such as a sale of your home or stock, but a source of income that’s expected to continue over time. Many successful entrepreneurs understand the significance of passive income and the vital role that it plays in creating financial freedom. In fact, some of the most successful entrepreneurs have multiple streams of passive income so that the money keeps on coming in even when they’re focused on other projects. Plus, having multiple streams of passive income also assist with minimizing the risks involved should any one of the income stream fail for any particular reason.Here at Success Pen Pal, we like to focus on multiple streams of passive income for the reasons mentioned above. One of the best ways to earn multiple streams of passive income is through the Internet. In fact, the Internet is filled with opportunities for earning a quick buck. However, people should note that the amount of money you earn is directly proportional to the amount of time and effort invested. With this in mind, here are some great ideas for making money online:Blogging:For those unaware, a blog is short for “weblog” which is a website containing the writer’s or group of writers’ own experiences, observations, opinions, etc. If you’re a passionate closet writer who wants to be published, then blogging might be the right option for you. There are a variety of free blogging platforms out there to select from, such as WordPress, Blogger, and even Tumblr.To be a successful blogger, people are not required to have extensive technical skills but it’s very important that you have expertise in the field that you’re writing about. Not only would this attract visitors to your site but also help you build a large following that’ll enable you to earn profits by luring advertisers, writing paid reviews, or receiving commissions for promoting other people’s products or services.Affiliate Marketing:To receive commissions, many bloggers are involved with affiliate marketing in an effort to resell other people’s products or services. Please note that an affiliate is a person who receives a predetermined amount of commission from vendors for selling their goods. So if you’re good at promoting and selling, then becoming an affiliate marketer might be the right option for you.The best part about affiliate marketing is that you do not need to own the products. Instead, you could sign up for an affiliate program from other organizations and begin selling products immediately. If you’re interested, companies, such as ClickBank and Commission Junction, have a large selection of products and services to select from.Advertising:Another option to earn money online is through advertising. People could sell space on their website for advertisements and earn a commission when these ads are clicked by visitors of your site. This is called “pay-per-click (PPC)” advertising and many people use banners and videos for advertising online. Please note that your earning potential depends heavily on the amount of traffic of your site. Some advertising options are Google’s AdSense, BidVertiser, Blogads, and Text Link Ads.Paid Writing:For others who feel that maintaining a blog is too difficult, you could still indulge in your passion for writing by getting paid to write for others. For instance, you could write articles and blog posts for others using platforms, such as PayPerPost, Helium, and Weblogs. Another option is to become a copywriter or copy editor where you’re paid to write copies in an effort to promote products and services. If you have a strong command over languages, you could even become an author writing eBooks for yourself or others.E-Teaching:The demand for online tutoring has grown exponentially. If you enjoy helping others learn, then e-teaching might be the right career choice for you. All you would really need to become an online tutor is expertise in your subject matter, along with a few spare hours a week. If you’re interested, just enroll on sites, such as TutorVista, SmartThinking, Tutor dot com, and E-Tutor. Once you’ve gained a good reputation as a coach, opportunities will come pouring in asking for you to assist with lectures, webinars, etc.Freelancing:Freelancing is another great career option for professionals who are experts in their respective field. In gist, freelancers offer bids, ideas, or proposals about a project to buyers and these buyers would select the most suitable freelancer for that particular job. Overall, there are a variety of free websites, such as Fiverr and Elance, that’ll assist with helping freelancers land gigs pertaining to a certain niche or category.Buying & Selling Domains:Buying and selling domains is another way to earn money online. The goal is to buy domains at their registration prices, or lower, and then turnaround and trade them at a profit. Rather than buying any domain name, it’s vital that people conduct adequate research on sites, such as eBay, AfterNic, or any other domain auction site in an effort to get the latest trends on domain names that’s selling. One effective approach towards this is to use “terminated domain lists” because it’ll contain several expired names that have been added back into the pool for sell.Virtual Assistant:Becoming a virtual assistant is another popular option for earning money online. Many small businesses are in dire need of people that could help them achieve their organizational goals and objectives. Rather than hiring a full-time employee because of lack of resources, these companies would prefer to hire a virtual assistant instead. As a virtual assistant, you’re expected to perform a variety of tasks similar to that of a traditional secretary or assistant. Tasks, such as travel reservations, research, handling expense reimbursements, etc. In essence, your expertise will determine your pay rate and you could also become a virtual assistant on Fiverr and Elance.Hopefully this post has provided you with some insight into options for making money online. To learn more about some of the options listed above, please join SuccessPenPal’s FREE newsletter where we’ve helped countless individuals earn multiple streams of passive income online.

Regardless of what others may think, there is money to be made online. There are numerous business models to work for and work from and your earnings will only be limited by the work you put in. This quick guide will present methods on how to make money online and help you determine which is the best option for you.Let’s start.1. Freelance jobsThere are thousands of online businesses today that are eager to hire skilled and talented individuals. People that know how to design, write, program, code and teach are often what they look for. A talented and skilled person in these fields can easily find work online. Most of the time businesses offer project-based, part-time, and full-time work.PROS:It is easy to find work and there are hundreds of job opportunities to choose from. You also have the freedom to work whenever and wherever you want as long as you finish the job assigned to you.Your earnings are determined by the quality of time and hard work you put in. Unlike, in most but not all, office jobs that salaries and wages are fixed.CONS:You are working for an online boss. You have to answer to someone. If you’re not a fan of working for someone then this might not be for you.Another con is the isolation. You’re office boss might be the worst person you had but you could bear it because of your friends. Now eliminate the friends and leave the boss in. Sounds a little sad, right?2. Creating an Authority Site or Niche SiteFirst and foremost, let’s differentiate the two:Authority sites are websites that have proven their expertise in the world wide web. This means that many reputable people on the internet have deemed it to be the “go-to” website because of their service or product.Niche sites on the other hand are websites that contain and talk about only one specific niche, one specific topic throughout the blog.Where is Earning Money online fit in all of this? How to make money online creating a website is by monetizing it.a. Monetizing it using Google AdSenseMany people have made thousands of dollars with Google AdSense. However, it’s really hard to get approved by Google. Your website should need around 16-25 quality articles to get approved. Though getting approved isn’t a guarantee of making money. Your site visitors should also click the ads by Google. If ads are utilized and placed well, you can earn a significant amount of money.b. Affiliate MarketingAffiliate Marketing is promoting other people’s products and services on your site. You are basically promoting their products and you get a commission if a site visitor buys your product.c. Membership websiteYou create a website that is full of content and quality products that are only exclusive to members. A person may only be able to get the full access to your website is to pay you a membership fee (which you will set). This is a good business model because it is recurring (members pay their fee monthly) and it’ll generate income long after you finish the website.PROS:You can create recurring passive income for yourself and you can live a lifestyle you’ve always wanted. The sky is the limit when talking about the potential earnings in creating Authority sites and Niche sites. It’s because the earnings will only be limited to the time, effort, connections, and investments you put in the website(s) you have. The more blood, sweat and tears you put on the websites, the more successful the website will be. Certainly, more success = more money.CONS:A lot of research, promotion, money and time should be invested in creating an Authority site or Niche site. You will also hit a learning curve since you need to learn many things, such as online language jargons, methods and techniques, copyright, online legal matters and many more.3. Selling Your Own Product\Service”The people that really make the BIG MONEY are the Creators and the Sellers of the product(s). Everyone in between is working for them.”-AnonymousNothing beats being the “source” of a quality product. It might be an Ebook, Podcast, Magic Toolbox, Furniture, T-Shirt and etc. As long as you are confident that what you are selling is the BEST, then sell the heck out of it online!Create a way for people to find your product — either create a website or put it on sale on a website. Start off from there and slowly build your business.PROS:When your product takes off, you’ll have what every person wants — Passive Income.You will be accessible online 24/7 and you are open 24/7. The earnings will be determined on how valuable and useful the product is. If you consider it the best product then the money will come.CONS:Promoting the product will be a struggle; especially if you don’t have a website or connections online.