Lets talk about passive income ideas. Passive income looks like jargon to many people, while others assume it is a pipe dream. You can decide to use one of the two most common routes to passive income. One of the two ways is investing some dollars so that you can enjoy a passive income soon.
The second route is spending time to achieve the same results at some point in time. So what is passive income in more straightforward terms? Passive income is any income generated with very minimum presence or participation of the earner.
Most people engaged in this kind of venture usually say they are earning while sleeping.
This type of enterprise is also a way of achieving one of the primary objectives of financial liberation, which is making wealth without applying much of your energy and time.
Initially, starting up a passive income is not a walk in the park since it may require some dedication of time and a hefty investment. Passive income is mainly defined by the amount of time necessary to earn.
For instance, if you make two hundred dollars in two hours, the same in a month, and still receive the two hundred dollars in the same number of hours after one year, then that cannot be termed as passive income.
On the other hand, if you start an online hustle and earn nothing for several weeks or months initially and then turn around and earn an income steadily, then you are on the right page. The following are passive income ideas to help you become financially independent.
1. Generate Passive Income Online Through Affiliate Marketing
Affiliate marketing requires that you have a site to promote or advertise other companies’ products to earn income in the form of commission.
Amazon affiliate program is one of the best programs for affiliate marketing where site owners and bloggers can freely join. Associates(affiliates) creates links where they earn referral fees any time a customer clicks on these links and purchase from amazon.
Click bank is another platform that can make you a higher commission and keeps off low-quality vendors. It also relieves the affiliate dealing with the mechanical part of a product.
2. Buy A Blog For Passive Income Online
As a passive income idea starting a blog is not hard at all. With just a few dollars, you could find yourself rolling and banking some considerable amount of dollars to keep your family comfortably moving.
You can start by buying blogs created by other people and monetize blogs.
Most bloggers abandon their blogs annually for various reasons, if you can manage to get one the abandoned blogs with some good traffic, this could be a perfect catch for you to earn several dollars. Blog’s prices are mainly based on the income they generate. In most cases, their cost is twenty-four times their monthly income.
For instance, if a blog generates 100 dollars a month, it will sell at 2400 dollars, which is not that much. You can also buy a blog on a bonus tip, add some fresh content in it to increase its monthly income, and sell it later at a better price than your buying price. One marketplace that I recommend you to buy blogs is Flippa. Some of the benefits of buying in this marketplace are as follows.
- It is comprised of all sites small as well as huge ones.
- At the moment, it has over two thousand wed based enterprises that are on sale.
- They have a program that ensures your money is safe.
3.Create An Online Course For Passive Income Online
Online courses have gained more popularity over the years. One way to create an online course is to have some skills in what you want to create as your online course and a website. For instance, a landlord program can help rental owners invest in passive income. You can also have a step by step course on how landlords can retire from their current jobs and rely on the rental income.
Another way is to be a reporter. In this case you don’t need to have any particular skill in this area, you just need to showcase other people who do. You can gather content and bonuses by interviewing You Tube channel owners or amazon authors (who are likely not making a lot of money, but have knowledge as an expert) or anyone else you know.
If you are adding an e-book as part of your course remember that you don’t have ot write it yourself. You can go to Upwork and get someone else to do it for you, strip out a chapter or two as another bonus.
It doesn’t need to be as complicated as you think. Then put it up for sale ona platform like Clickbank and send traffic to it.
4.Start YouTube Channel
Another passive income idea is through starting a YouTube channel. Product endorsements are the simplest mode of making cash on YouTube.
The products can vary from resales to e-books. A single video product review can attract substantial traffic of viewers based on the site and consequentially earn you a chunk of good cash.
You can of course promote your own paid products and build your email list of customers by having a link in the decryption.
5. Write An E-book & Sell It Online For Passive Income
Writing an E-book and sell it through Kindle Direct Publishing on Amazon is another way of earning passive income. You will only need to write your book, have a cover design, and publish on Amazon for free.
An e-book with a price range between 2.99 dollars and 9.99 dollars can earn you a seventy percent commission on the selling price. For an E-book below 2.99 dollars and above 9.99dollars, you will most likely get a thirty-five percent commission.
6. Sell Your Photos Online
Selling photos comes in handy for freelance photographers and those who have made photography a hobby out of their passion.
If you are in the stated category, you need not waste time. You require to know the commissions payable by different sites as well as the rules governing them and choose the best to submit your photos.
You have a chance to make a passive income because multiple customers can purchase one photograph. Getty and Shutterstock are some of the leading sites when it comes to this venture.
7.Passive Income Through Patreon
Patreon is a platform that enables patrons to pay creators for their creativity. Such creativities are like videos, songs, sketches, and webcams.
Patrons or fans pay you directly as a creator for coming up with stuff they are fond of watching. The pay can either be monthly or upon release of any new material.
8. Make Money Through Teespring
Teespring is an E-commerce platform/website that allows users to create custom made t-shirts. You can design, print, and sells them without having to worry about customer services as well as production.
Teespring provides users with design tools. Designers can also upload their models and indicate the prices they wish to sell their products. Teespring is perfect for beginners who may not have many resources to spend on design.
9. Sell Digital Products On Envato markets
These are platforms that enable users to trade permits to use digital products like motion graphics, website themes, production music, and images.
Authors possess products on Envato markets. Browsing in Envato markets is restricted for users above sixteen and membership for users above eighteen. You get a license upon buying an item and hence the right to use it. The same case applies to download items.
10. Selling Instagram shout outs For Passive Income
.A Shout out is when a friend or someone directs other people to your page to check the brand on Instagram. . Shoutouts can be successfully launched by tagging your Instagram profile and your brand.
People look for influencers who have a decent following and pay them to promote their brand – you could be one of them and there are all kinds of perks from companies for shoutouts.
First you’ll need to spend some time investigating how the algorithm works, but once you have a good understanding, you can quickly scale
11.Hire someone to make an app and Sell It For Recurring Income
Last but not least, hiring someone to create an application for you is another way of earning passive income. You only need to know the purpose of your online app, and the developer can customize it accordingly. You can then sell this for recurring income to for example local businesses or whatever the target market for your new app is.
There you have 11 awesome passive income ideas. If you join our newsletter, we’ll send you a free training on how to promote anything online using Facebook ads and also a web class that teaches you the ins and outs of building profitable online sales funnels – this is the process where you take someone from an irresistible offer, to your opt in page and all the way to the sales page and checkout pages. Don’t miss this – go here to sign up
Make it happen,
Liam