Recurring revenue plays a key part for any business. You can more or less predict your income in advance and cashflow becomes much less of an issue.
Creating content based products and turning your expertise into a sellable product is also another very sensible approach. By creating and selling products you are moving away from the time vs money model which can limit your earnings (there are only so many hours in the day) towards selling your expertise in a tangible form (in unlimited amounts if possible!)
When you combine this two approaches a membership website is without doubt the delivery platform you need to be looking at. You can deliver your premium content to members who you can charge a weekly/monthly/yearly fee.
Many people who have an interest or hobby just want to interact with others who share that passion and they will be happy to pay you for the privilege! You can tap into this need by giving them somewhere to go and by building that community you can build a recurring income as your members share ideas, interact and build relationships with other like minded people.
Membership websites can cover many different subjects from Health and Fitness, Sports, Business expertise, Gardening, Learning New Languages or skills, Stock Trading and much more.
If you are seriously thinking about building a membership website then you should certainly check out the Wishlist Membership Coaching (Aff link) that is available for a short time. This training shows you how to quickly build a membership website for maximum growth.
>> Wishlist Membership Training
Other passive income stream ideas that I have or am setting up include:
- Advertising revenue from your Blog(s)
- Selling guides or books through Amazon using Publish on Demand either as physical book or ebooks (can also double as a lead generator)
- Sell Audio and Video based Products
- Recommend other related products as an Affiliate and earn commissions
Find one area that suits you and build on it. It’s the best investment in yourself that you’ll ever make!
