Passive income for entrepreneurs

Passive Income ideas to help Entrepreneurs to increase Cash Flows in Business

1. Create and Sell Digital Products

Monetize your passion by creating and selling digital products. Service-based businesses rely on the service provider’s time and effort but with a digital product (e.g., courses, e-books, kits, software, etc) you create it once and can sell it for life.

2. Create Online Channels and Services

As an entrepreneur, you can and should position yourself as a thought leader in your industry by creating and promoting a YouTube channel or offering web-based training services. People love to learn and we're seeing just how important it is to have a skill you can market in multiple ways.

3. Get Paid For Referring Leads

Leads—you have them, and businesses want them. Establish a relationship with a few trusted businesses (and their sales reps) that offer a residual or one-time payout for referral leads. Then make introductions to people within your network that may need their services. Don't get too involved; that's not your job. Just make the introduction and if it turns into a deal, you have a check coming.

?4. Adopt A Subscription-Based Model

If you are in the subscription-based business, then your income is already more passive than if you are in the services industry. Even if you’re in consulting or services businesses like mine, you can adopt a subscription-based model by discounting one of your services and offering it on a recurring basis. This way you won't have to worry about the next month's revenue projection as it will be more predictable.

5. Implement A Digital Gift Card Program

Implementing a digital gift card program is a great solution for small business owners. You can tether gift cards with a loyalty program to get consistent and repeat customers. More importantly, a great benefit to gift cards is that as a business owner you are able to accept payment for a product which is not delivered until a later date. This helps increase cash flow while deferring costs.

6. Create A Podcast

The truth of the matter is time is far more valuable than money but applied time can create wealth. To me, a podcast is the way to go because you are able to connect, create and attract an extremely large audience. The power of the internet makes everyone your neighbour. Podcasting is a way to connect with amazing leaders in your niche and talk about relevant topics affecting your bottom line.

? 7. Promote Affiliate Products

Invest in content and promote affiliate products on your website. There is no better long-term investment than creating high-quality content that aims to sell an affiliate product. If you’re smart about it, you can outsource the bulk of the work to freelancers or contractors.

8. White Label Your Products

In the tech world, partnerships are the key to passive income. Establish good partnerships or white label your products and let someone else handle the marketing and sales. There is still work involved, so it might not be completely passive, but partnerships are the key to any business driving revenue from multiple angles.

9. Set Up A Digital News Platform?

Set up a digital news platform that complements your business. Build a content stream, and get other businesses to contribute or co-create content to drive traffic. Once you get a few thousand hits a month, start to charge businesses a small monthly fee to be featured. For example $25 per month, with 2,000 customers, is already half a million dollars’ worth of business

10. Implement Automated Systems

One word: Automation. Nearly any enterprise can create passive income by implementing automated systems. There are many cost-effective apps and technology items available for the modern-day entrepreneur. These systems will allow a business leader to be more efficient and at a lower cost, which increases the bottom line. Automation is the ultimate fix for the bottom line and passive income! –?

?11. Automate Reminders and Emails

One easy passive income idea to increase cash flow for online businesses would be to send a reminder or "abandoned cart" email to all of your clients or customers who put your product in their shopping cart or start to fill out the payment form, but did not complete their purchase. We've recovered up to 30% of lost sales by implementing this easy automated email reminder.

12. Invest In The Stock Market

To increase their passive income, business owners can consider stock market investments. These investments promise payback in terms of dividends, not only growth. Therefore, business owners need to screen the stock market for cash flow positive businesses and not only be on the lookout for the next possible digital global player. -?Felix Staeritz ,?FoundersLane

13. Leverage Short-Term Investments

I have a deals manager on my team who searches all day for very nice short-term investments. That can be deals like short-term loans (guaranteed), buy and sell opportunities or great small properties with good rents. There are a lot of amazing (and safe) deals out there—you only need to be able to find them. It's perfect for monthly extra income.

14. Buy Corporate Bonds

No cash flow is completely passive. However, buying corporate bonds will result in somewhat passive income after careful curation of the bonds. While interest rates are low in North America, that is not the case in other parts of the world, particularly in emerging markets. That said, emerging market corporate debt has to be watched closely as exchange rates and other factors can impact profitability. -?

15. Buy and Rent Out Real Estate

One of the oldest and truest forms of passive income has been the landlord model. Owning investment real estate is a proven model that works consistently. Buying and holding real estate allows an entrepreneur to grow his/her net worth exponentially by having the tenant pay down the majority of the debt over a fixed number of years. It’s a beautiful program that works in most corners of the world.