Most small businesses by this point in time have developed a website because they understand this is how they find new customers. People simply search online for most things, and without even a small website, it’s difficult to capture a larger market share. Yes, Google local will tell them where you are, the hours of operation and list contact information, but don’t forget, there is a ‘Website’ button those online searchers can click to bring them through to your site.

Here is where you can give them details on what it is you do, what you sell and how to buy your products. Even if you don’t sell anything online, did you know that you can earn a passive income, sometimes referred to as a ‘residual income’, online? If you haven’t yet thought of this as a remarkably easy way to grow your small business, it’s time to explore the concept of passive income.

What Exactly Is Passive Income?

In just a few words, passive (residual) income is a way to earn money in the background with little to no human intervention once it has been set up. For example, you have an online business that sells car parts and tools. In the process of setting up your website you also provide a blog that discusses various uses for tools you offer. Why not take a few hours to write a few “How to” eBooks which you can offer for sale? Link to them from your blog and watch as the money starts flowing in.

These are great money-makers for those DIYers out there who don’t happen to be auto mechanics but want to embark on a few repairs from their driveway. In other words, passive income is simply a way to monetise your small business website that works in the background while you go about your everyday affairs. You need do nothing once you’ve written or established the link.

Affiliate Marketing for B2B Small Business Ecommerce

Why not become affiliate marketers for other small businesses within your industry? Again, it will take a bit of canvasing to find other businesses willing to give you a ‘commission’ on every product sold from your link, but if you reciprocate, you can have a nice little B2B network going. For example, you sell clothing but don’t sell jewellery or accessories. Link to other businesses online that offer those products which will complement the apparel you sell and get a commission when that brooch, belt or shoes are sold.

Likewise, offer a commission to that jewellery or shoe site when you’ve sold something from a visitor they linked through to you. It’s a novel new way of growing your business and although you will need to take time to set up your network, it’s a great way to earn passive income with little effort involved once the links are established.

The Bottom Line on Passive Income

In the end, you will be making a residual income with little to no ongoing effort. Everything happens in the background while you are running your small business. These are just a couple of examples of what earning a passive income is all about, but if you want to quickly find ways to grow your bottom line, this is one option you really should explore.

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