I just wanted to give everyone who doesn't really know how to get started a quick little step by step guide as to how to set up a nice little passive income stream.
If you never try anything, but you just keep reading stuff how "how to make money online", you will never make any money online!
Setting up a "system" such that you can get paid passively is the first step. Here's a little action plan as to how to do that:
1.) Purchase a domain name (about $15)
a.) Plus roughly $100 for a year of hosting (If you don't already have a membership with a host provider)
2.) Install Wordpress (free)
3.) Install a premium theme that allows you to have full customization abilities. I personally use Thesis 2, which costs $147 I believe, but you can use any theme. The main this is that you want the site to look nice, and not just like a blog. If you can get away with a free theme, go ahead, but if you aren't the best coder in the world, a theme geared towards customization capabilities is well worth it.
4.) Install some sort of membership plugin. Again, the premium ones are always going to make your life way easier if you aren't a coder. You want to be able to have people to have the ability to register as a member of your site. Premium membership plugins have the goal of seamless user experience in mind. Be prepared to spend up to about $200 for a good plugin.
5.) Create a free PayPal business account so that you can send and receive payments over the web.
6.) Connect your website with your PayPal account by using the integration features that are included with your membership plugin.
7.) Create a ton of great content for your site, but only allow access to some of it for free. Make it very clear all over your website just how awesome it is to be a member. Even offer to let them have a 7-day trial for only $1 if you want. Just make sure that your site offers a lot of value. Whatever niche you are in, just make sure that your content is worth subscribing to. Put your heart and soul into the content. Put yourself into the shoes of your reader....would you want to pay to subscribe to your site?
8.) Integrate your membership plugin with a mailing list such as aweber. Collect peoples email addresses, and keep them coming back to your site by providing them with emails that they actually want to open (because there's good content in them!), and make sure to casually remind them that they really should become a member of your awesome site (it's only $1 to try it out for a week!).
9.) Determine your pricing structure, but for the sake of this example, let's say that you charge $7 for a monthly subscription to your site. That means anyone who registers to your site will result in you making $7 per month.
10.) Keep adding awesome content to your site, while simultaneously building traffic via. YouTube, forums, social media, and/or paid sources.
11.) Make it your goal to get to the point where you have 285 subscribers. Once you do this, you will be making over $2000 per month passively online.
Hope that helps some people!