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4 ways to Transform and achieve passive income

You can grow your income stream by taking up another part-time job or change to a better pay job. Let me tell you that there are other ways to grow your income not by putting in my labour time to work, rather the smart way by changing your active income into passive automatic generating income.


How old can you work in your current job? 60? Or 70? You are getting active income by working for your company and it is an income tied with your time you spend. There are many ways to change this income into automated income or passive income as commonly known.

Create your Process Map

Think of what you are doing for a living now and map it onto a process map. A process map is a map links with your work, time and end results. Which is internet link with many map boxes. Each boxes have your work description, time taken to perform the work and the end results which can be link to any map box. A process map may contain may boxes and many links to and from these boxes. It can be very complex and also very simple process map.

Once you have your process map ready, look at areas where you can shorten the process. Try looking for duplicate process where you can combine both and process boxes which is repeating. Do stream line and will be very benefits to you later part. Once you identify and smaller your boxes, then look for boxes of similar process which you can combine the boxes and add more links from your end results to other boxes.

By the time you repeat this remapping process, you would have a good easy to read process map which is ready to automate now.

Automate by computer programming
Look for process that can be completed by computer programming and go ahead to formula the process. You can do it yourself or outsource to experienced programmer to perform. Selection of software and process algorithm can be created by the computer program for you. Most program created will come with training and tutorial for you.

Automate by out sourcing

Now look for boxes that can be outsource to others to do for a small fees. This is a bit tricky but some of the things that can be successfully outsource are delivery courier services, human resource and recruiting services, web-hosting and service services, book keeping and accounts, sales and marketing, ordering and tracking invoice services and purchase services. There are a tons of services out there where you can look for out-sourcing to others.

Automate by hiring someone to do for you

Many of the box process can be performed by others (Which you are doing) similar by hiring someone to do for you. This is the most easy and fastest way to achieve as you only need to show them how to do it and they will do is for you, allowing you to have more time to do other importance stuff.

Automate by hiring a manager

Get a manager to automate your task, decision making, provide leader ship and share your work load. This is effectively reducing your work by ten times if you find a good capable manager to help you manage your work.

By adopting the above automation, you can reduce your active income to passive income. I create website blog and then automate the process so it run entirely automatic for me. I donít do the programming, free blogger.com do it for me, I use clickbank which have outsourcing all my logistics and plenty of vendor product for me to choose. Articles are written for me by hiring online. In time to come, as my business growFree Reprint Articles, I will hire a manager to look after it. Passive income here I come.

Source: http://www.sngerge.com


Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


I support green products and actively involved in recycling movement. Currently am blogging, affiliate marketing, selling holiday gifts online and trading Forex to earn extra income to support family on top of having a full-time job.

I am currently hosting a Forex review website at http://www.bestforexranking.com and also sharing Forex news, broker, trades and charting information. Last year, I started affiliate marketing and setup http://www.sngerge.com which features free tools and tips. My recent involvement is selling holiday gifts which provide world wide delivery at my personal blog http://LeYangShop.blogspot.com




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