With high unemployment numbers and millions filing for unemployment benefits, many people are looking for different ways to produce income. In this article, we discuss 4 Income Generating Assets for 2020 & Beyond.
1. Blog
Starting a blog can be a profitable income generating asset if you treat it like a business and not just any blog. This means creating a plan to monetize your blog instead of posting randomly.
For example, lets say you are creating a blog centered around electric hoverboards. Some ways you can monetize this blog include:
- Reviewing electric hoverboards with affiliate links. You make money when someone purchases from one of the affiliate links.
- Creating an eBook or a course on electric hoverboards and sell it.
2. Ecommerce Website
An ecommerce website can be one of the best moneymaking assets you create for yourself. And there are many different ways to profit from your own ecommerce website.
You can have a one product store, a niche store, or a general store. The key for long-term success is to build a brand where customers purchase from you on a regular basis.
Many people are using Shopify to host their ecommerce products. Once you find a product or products that fulfill a need, you can begin to sell those products on your online store.
The biggest piece of your ecommerce website is traffic, specifically, driving high quality traffic consisting of people who are interested in purchasing what you have to offer.
Here a few traffic sources you can use to drive traffic to your store:
- FB Organic
- FB Ads
- Google Organic
- Google Ads
- YouTube Organic
- YouTube Ads
- Pinterest Organic
- Pinterest Ads
- Instagram Influencers
For more tips on growing your ecommerce site read this: 6 Steps to Growing an Ecommerce Site to Millions in 60 Days
3. Lead Generation Business
Another income generating asset you can look into creating is a lead generation business. Every business needs high quality leads who turn into customers.
Without leads, a business will no longer be in business. A lead generation business is not only recession proof, it can also provide a large amount of income for you once you enough clientele.
This is how the business model works. You create a partnership with a business to bring them leads. You can charge per lead or by monthly retainer or any type of payment arrangement you and the client agrees on.
There are many ways to bring in high quality leads for clients. Here are the more popular ways:
- FB/IG Ads
- Google Ads
- Lead Generation Website [Google Organic]
4. Real Estate
One of my favorite income generating assets is real estate. You can purchase single family, multifamily, or even commercial real estate.
My personal favorite is multifamily real estate. With multifamily, you can bring in more income than a single family home and have a diversified income stream with multiple tenants.
Other advantages of real estate include appreciation, depreciation, equity, and leverage.
A big benefit of real estate is that you can put 25% down and purchase an asset immediately producing income for you every month. With some properties, you can even put down 3.5%.
If you’re interested in learning more about multifamily real estate, check out this free webinar.
Thanks for reading this article on 4 Income Generating Assets for 2020 & Beyond.
