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With the economy looking sour today, the future looks grim for many. Every day more and more people lose their jobs as businesses continue to tank. However, passive income provides people an option to have a promising future. Here are five ways to make passive income and give yourself a promising future.
1. Write an e-book
Writing an e-book does not appeal to many because of the thought of writing a book that is one-hundred pages long. However, you can get away with writing a book that is 20 to 30 pages long and still profit from it for the rest of your life. A great way to get started is by compiling a group of articles you have already written and formulate an e-book that you can promote online.
2. Sell software
With technology constantly evolving, more and more kinds of software are developing for entrepreneurs and internet marketers to use. A great way to make passive income is to promote and sell different kinds of software that can benefit other web sites. Software is something that every entrepreneur can use to better their business.
3. Network marketing
This is by far the most popular and well known method to make this type of income. It offers a variety of products and services that will pay you based on you generating traffic and gaining customer reorders. The whole concept is based off of you working with a brand, creating a consistent revenue stream by selling products and building a downline.
4. Real estate rental
Although many do not even think about this option, you can make a great deal of passive income by renting real estate out to people. In some cases, renting out real estate can become the primary source of income for people.
5. Leveraged income
This type of income refers to you creating income streams by leveraging resources or other people. Affiliate marketing is a highly common method of creating leveraged income. This type of marketing involves affiliate programs paying you a percentage of commission for selling their products or services. The more sells you create, the more money you make