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Passive Income - Research and Efficiency

Updated on May 21, 2012

Locating the perfect idea that you think will generate a satisfying, passive income is one of the best moments. Your head fills with ideas and you start to write them down, but your hand cannot keep up with all the ideas that are flowing. It is exciting, and the prospects of it can be a small income or it can turn into a gold mind. But remember you do not need to set it all up in one day. Take your time and find a perfect attack plan that will get it off the ground first.

So where do you start?

1. Google has become my best friend for researching and finding information on anything that I need to know about. Most of the internet is there with many different topics, but it also helps you understand a few things while researching.

a. Is there a lot of information on my idea?

b. Is there reliable information on my ideas?

c. Is there a central location where my idea is present

If, the answer is no to most of those questions, then you just might have a winning idea to start with. Why? Because, you have found a niche that does not seem to have the needed information that you need. You can use this to your advantage to build your business.

2. The idea of passive income is to try and automate the process as much as possible. So, when looking at your information or product try to figure out the easiest way that you are going to get it to the customer.

a. Drop shipping – hire a company to ship the product for you

b. Instant downloads – selling an eBook automate the download process

c. FAQ – always have a frequently asked question section to cover a lot of the common questions.

3. Time the hardest thing about having a business is time there never seems to be enough. The best way I have found to overcome this are with these tips

a. Not everything has to be done TODAY!

b. Set aside a specific time when you know you are most efficient

c. Keep distractions during your time to a minimum.

d. Check orders once a day or once every couple of days not every hour

Even if you only take a couple of these ideas and apply it will significantly help in your research and efficiency when starting and running your new business. When you use your time effectively your results will improve dramatically. Giving you more time to chase those other dreams of yours!

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