Have any of you ever tried yoga? Well, if you have, you know how difficult obtaining balance can be. All of the different positions you have to undergo to set your body into the perfect state of equilibrium can be strenuous and exhausting. And undertaking these feats (however difficult they may be) kind of reminds you of operating a business, doesn’t it?
Just like yoga, you have to find balance in the way you run and maintain your business endeavors. And sometimes it may be tiring when your business demands you to be pulled in many different directions just to obtain that equilibrium we all seek. But we do need that equilibrium to generate income so we can continue to grow our business. Think you could use a little help?
Consider how your team to help you maintain the balance in your business. You’ll have time to work on more important goals that could help generate additional income.
Three Great Ideas for How Team Can Help You Create Passive Income:
#1 Publish – One of the best ways to earn passive income is to publish. Writing a book, creating a home study guide or providing an online course can all generate passive income. Once the product is created, it requires very little to generate income. And many of the tasks like distribution can be automated.
Your virtual assistant or an intern can help you put together and publish a product. Or they could research potential niches where an ebook or home study course would have significant demand and profit potential.
Your team can also help you create the marketing strategy and materials to promote your digital product, and they can manage all or part of the product creation process.
#2 Affiliate Income – Affiliate commissions are a nice way to generate passive income. You can earn affiliate commissions by adding a blog to your business website. Posts can contain embedded links to relevant products and services. Additionally, you can publish ads on your website to promote affiliate companies.
You can select an intern to oversee the blog, including researching good affiliate programs to join, creating blog content and driving traffic. Each commission you earn is money in your bank account. You can even hire a virtual affiliate manager to take on this function in your business. There are many virtual assistants that specialize in affiliate program management.
#3 Advertising – If you have a website that receives a lot of traffic, meaning website visitors, then you can profit from advertising. You can sell ad space on your website and earn passive income. This is a great job for interns or virtual contractors. You can hire them to create your advertising policies and procedures, communicate with potential advertisers, collect payment from them and place the ads on your blog or website. Note: you can also sell ad space in your email messages and newsletter.
Passive income is welcome income, to be sure, and it’s a great way to achieve the financial success you’re striving for. And having a team (big or small) is a great way for you to focus on other profit generating tasks while they create and/or oversee your passive income projects. Remember, the key to any great business is balance. Hiring virtual support help like interns or virtual assistants to help you complete the numerous tasks your business demands of you is a great way to begin obtaining that state of equilibrium and start making more money.
Deanna Maio, The Intern Expert, teaches small business owners how to define, find, select, and manage the best people to join their team to grow their business. For FREE tips on how to work with interns successfully to grow your business, visit http://www.GetFreeHelpWithInterns.com/