Passive Income Models For Mumpreneurs

Posted on by in Business Tips, How To

work at home mum with kidsOne of the keys to developing lifestyle business that will fit in and around your family is to create passive income, or at least sources of income that aren’t tied to time or location.

You may think that this type of business is a pipe dream – but I know it is possible because it is something I managed to create within 12 months of starting out online. Additionally, over the past 3 years I have also met and interviewed a large number of women who have done the same thing.

So in today’s post, I want to share with you some of these creative passive income methods which you can take and implement in your own life. The beauty of these models is that you can have an outsourced virtual staff do most of the work, giving you more time do build multiple models or just spend time doing what you WANT to do.

Passive income method #1:

Set up and run numerous blogs that generate income through selling advertising and affiliate products in a few different niches.

A classic example of a blog that is highly successful in generating income is www.dooce.com by Heather Armstrong. Whilst Heather is the sole writer of this blog, you could quite easily have a team of outsources staff or ‘guest bloggers’ updating your site daily with reviews and industry news. Such regular updates generate lots of traffic to your website, which would then allow you to sell monthly advertising subscriptions to any company interested to advertise to your following readership.

Additionally, you could generate income through selling affiliate products related to your niche and make a commission on each item they sell, without the need to handle deliveries and customer service.

Passive income method #2:

Sell services that you then outsource through Elance or oDesk. This method is to craft good sales letters promoting to businesses that need work to be completed and then you project manage the job with your outsource team.

For example, there are plenty of businesses out there that don’t have time to keep their blog posts up to date on their website. These days, it is even more important than ever to have good quality, fresh content on your website. Therefore, you could approach local business owners offering this service. There are literally hundreds of talented people with skills in a variety of different areas. Log in to vWorker or oDesk and have a look. then decide which services you want to promote and go from there.

Passive income method #3:

Owning a web application and collecting royalities from the sales. The method behind this is to have a team of web developers create an application that a market wants and setup a system to sell it online.

A great example is a web application called Basecamp, which was targeted towards business owners and assisting them with managing their projects online with virtual staff or employees within their company. This company charges a monthly fee to use this software and they continue to collect passive income as long as the system runs online.

So – if you have an idea for a web application, what are you waiting for? You don’t need the technical skills – just hire someone who does!

Passive income method #4:

Setup an online retail store which sells products directly to a niche market. You can have a team setup your online retail store and have drop shippers or dispatchment companies manage and send out your products.

Tim Ferriss from the Four Hour Work Week owns a protein supplement company that targets the martial arts niche. He sells hundreds of
his products to these customers daily and does not even touch any of the products let alone run the company. He has a team of virtual staff that keeps his online store running and he collects the income from the profits.

Passive income method #5:

Own a membership site that offers valuable content and resources to a community of members.

There are many niches where membership sites can be setup to provide information, how-to tips, allow members to share resources and for them to interact with each other. Then each month a fee is charged for them to be part of this community membership site.

For example, let’s imagine you set up a dog training membership site that had over 1,000 members paying $20 a month. You would easily generate $20,000 a month from providing dog-training how-to tips and allowing for all your members to interact with each other.

As you can see, I have shared with you some passive income method’s that have allowed successful business owners to live a very nice lifestyle.

This is what we call lifestyle business design.

If you are not already building a business using one of these passive income methods,I encourage you today to think of an idea within a niche and do some research. You are sure to find that one of these business models will work perfectly within your niche

Fiona Lewis

Fiona Lewis

Fiona Lewis is the author of Mumpreneurs Online: EXPOSED, and the founder and principal coach of the Mentoring Mums Online program. Fiona has put together an amazing free gift you can access immediately to discover the 3 Biggest Mistakes that most women make with their online business & how YOU can avoid them. To access this training, click here.

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Comments

6 Responses to “Passive Income Models For Mumpreneurs”

  1. Hope you are enjoying this article.

  2. Ruth

    This post is very good as it contains a lot of useful information. I have a number of blogs but I was not too sure how to make money from them.

  3. Julie

    There is a lot of useful information on this site and I will certainly be looking into these ideas a bit more in depth.

  4. Kaye

    Really interesting and income generating ways you can do. I want to try them!

  5. Lauren

    This is an interesting suggestion.”You said you have made it in a year.” I definitely would like that too. That is really fantastic. But how will I do that when I don’t really have any idea.

  6. I like what you say in you You Tube video that you are not about getting rich quick – the list in the post is great and good for generating thought of how to create ongoing, passive income – passive in the long term as with anything there is work required upfront.

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