This is a very easy to implement method to setup a long term passive income. Now for those of you out there who don’t know what passive income is its a form of repeating income, where you earn a residual income from work you only did once. The advantages of Passive Income is that once you have done the work, so after you have set it up, you get paid for doing nothing, now there’s nothing better than getting paid for nothing is there?
Now many of you won’t know what a widget is, well its like a little gadget that is pre-programmed and ready for a website owner or internet user to add to their homepage or website. There are many different places that widgets can be used, the most popular web widgets are for Blogger, Typepad, Wordpress, iGoogle, Netvibes and Ning. However with the latest version of Windows Vista you can get gadgets on the desktop and in Mac OS X you can also install dashboard widgets.
Imagine you had one thousand people who had installed your widget and used it everyday, which is a very easy task if you consider all the different forms it can take, as a Windows Vista Gadget, a Mac OS X dashboard widget, not to mention all of the web based forms. Now what would the best way to monetize a widget? Well with adverts of course, but it is very difficult to come up with a great idea for a widget and even more difficult to code it. Now it is easy to get a thousand installs but getting 100,000 would be very very difficult. So this gives us a problem, we want to be able to create unique widgets quickly,easily and they must be easy to monetize.
