If you really want to earn more money with your small business than you need to strongly consider adding a P. I. G. Obviously, I am not referring to the questionably adorable pot bellied pig that many fine people have adopted for a pet. The concept of adding a Passive Income Generator to your business should be a top priority if you want long term income.
What exactly is a Passive Income Generator and how can it be used to make more money for your small business?
As the names suggests, a P. I. G. is a product, system or service that will pay you and your company long after it has been implemented. In fact, the ideal P. I. G. is one where you do the work once and it pays you over and over and over with little to no maintenance on your part.
An example of a P. I. G. could be a book, an audio CD, a patent, the licence to use your idea, a service that you contract out, and much more. Let's take a book as an example. You diligently research, compile, write, edit and proofread your book. Depending on who you are this may take you anywhere from 14 days to 14 years. Once the work has been done, a publisher will usually help with the marketing and promotion of the book. Once all that has happened, you the author are left with a passive income generator that will keep selling books while you sit in the sun enjoying a margarita.
Making money with a P. I. G. has become so much more important with the acceptance of internet commerce. Today, there are some amazingly quick, simple and inexpensive ways of creating a P. I. G. As an example, take a pay per click advertising campaign. This type of a business revolves around driving traffic from the search engines at a small cost to a sales site. Once at the site, automated software can take the browser by the hand and market and market the product until a sale is made. If the product is virtual like software or an e-book, no human ever needs to get involved in the transaction (other than the buyer).
Another example of an online P. I. G is an affiliate program. Pretend you sell a digital product like an ebook or audio book. Now imagine you get to work testing all kinds of sales literature until you create a very effective selling system on your website. All you need to do now to really expand your business is drive plenty of traffic through this system. By creating an affiliate program and attracting hungry affiliates, you stand to make a greater income while working less and less. The affiliates bring in the customers, your automatic sales website does all the work and once again you get to take off to a warm sunny destination.
So no matter what business you are in, think about how you can earn more money by adding a P. I. G. What parts of your business can you automate for complete hands free operation? Could you create an entire business where you create nothing but P. I. Gs? How much more money, free time and luxury would that add to your business and lifestyle?
Glen Jansen, author of the free ebook, “THE Best Money Making Ideas", helps home based business entrepreneurs find easy ways to make money online . Visit http://www.1st-in-earn-extra-income.com for more free information and money earning articles.