The internet’s driving force of business has created a new economy. Having worked with the internet since its infancy I’ve seen the new economy grow even stronger through mobile commerce. Being connected has enhanced our lives, making it easier to communicate with our favorite brands and stores. In today’s mobile world, you’re either a consumer or a business. Being “online” has created businesses that focus on new strategies. Being “mobile” extends these strategies to garner further reach while recurring larger gains.
Passive income is defined by the IRS as “…trade or business activities in which you do not materially participate.” The creator of Smart Passive Income, Pat Flynn, a veteran in the new economy, states “Building online businesses that take advantage of systems of automation that allow transactions, cash flow, and growth to happen without requiring a real-time presence.”
These automated systems, that Flynn mentions, still take time and effort to put into place. Passive income is giving into work upfront but it still involves work and constant tweaking to maintain a flow. It takes effort to make good money from it. It not only means that the product should be great, but it should be something that people are talking about and that they want. It allows freedom in your life by working from home but is still work. Here are a few popular passive income generators that are simple to take on right from your home:
• There are many successful bloggers making terrific money out there. Not only that, they are making money sitting on their couch at home or maybe there out getting a coffee and not checking their watch to hurry back to the office. To write a blog is to find an interesting topic to write about, draw an audience, and then keep your blog fresh. All while sprinkling in advertising that makes YOU money.
• Selling on EBay can be a lucrative way to clean out your closet. It’s never been easier to take out your mobile phone, snap a photo, upload to EBay, and write a description for auction. You can earn more money than with garage sale and you’re still doing it from home.
Finding the right product for earning great passive income is essential. Untapped streams in the latest technologies are ripe for the picking. Apple’s Passbook and Google Wallet lead the way for local stores and restaurants to send updates and offers directly to customers on their mobile device. AtlasRewards has a solution for retailers to do just that. The Mobile Savings Network platform is so new that many retailers may not even know of its existence. This creates more leads and opportunities for those who want to extend their passive income portfolio.