Passive Income Streams to Support Your Business
One of the advantages of having your own business is that you can add aspects to your business any time you want. Whether you're in a brick and mortar business, a small business working from home or one that's strictly online, you can add pieces to your business that generate income.
The first thought is to add another product or service to what you already have. That usually involves quite of bit of marketing as well time. Or you can add to your online presence.
Hopefully you have a website for your business. If you don't, that needs to be one of the first things you do because otherwise a good portion of your target market is not going to find you. Most people search for what you offer with their smart phone or tablet. Unless your demographic is the elderly or even some baby boomers, they're not going to find you in the Yellow Pages or the local paper. You need a website! Contact me at firstname.lastname@example.org if you need some help with this!
If you have a website, you can add some affilate ads that complement your business. Once you set these up, you can get a commission from any sales you make that come through your link. If you have a big enough following and the right ads, this can add up. And your business does not have to open for the process to happen!
You can also add affiliate links to your blog as I have here. I made a choice to only affiliate with those products I use and believe in. I love them and know others will too. I'm in the process of creating an affiliate program of my own to share my Frazzled to Freedom: 30 Days to a More Stress-Free You online program. This way, more people will know about it and those who are willing to share will get 20% of whatever I take in, truly a win:win:win for all parties - my business, their bottom line and those who take the course.
More on this next time...
Until then, keep shining!