Making passive income online sounds great huh!. I have always been fascinated with making passive income ever since college when I read rich dad poor dad by Robert Kiyosaki. I was inspired by that book to create my own income generating assets. The problem is I don’t have a ton of cash to invest in the real estate. So I have to look somewhere else. I made my research and found ways how a simple guy like me with no high degree of education and much money to spare can make passive income online.And so can you.Lets get right into it shall we?
10 ways you can earn passive income online
This is what online marketers call affiliate marketing. It is all about making websites, creating content that is helpful, provide a solution to peoples problem, create a followership. Finally, monetize it by selling an affiliate product. Independent of time and location, you can basically start and maintain a blog anytime, any place…as long as there is an internet access. What more could you ask? Many people have made passive income online with blogging why can’t you? Click here to learn more…
2. Publish an ebook with Amazon kdp
Make recurring passive income online by publishing an e-book in Amazon kindle publishing. The first step is to create an eBook that solves people’s problem. Second publish it online through Amazon kindle publishing. Third, promote it through google. And fourth and the best part is making money through royalties for years and years to come. The hardest part is writing and research part and even that can be outsourced. Cool way to earn passive income online!
It is just like blogging the only difference is the main medium is videos and the platform is Youtube. Pretty much the same. Create content that people need, promote through social media. However, the profitability of your channel rests on how evergreen your content is So how do you make recurring passive income with Vlogging? Simple, through ads and promoting an affiliate product. The videos last for years and the best part is you get to be a star in your own right!
Ideal for people who loves to talk and is camera shy.Pretty much like blogging only this time the medium is verbal. The key here is content, quality content that people will be interested to buy. And having a pleasing voice is a plus. Ideal for people who loves to teach and talk
5. Membership site
Start a blog, provide quality content for a specific group, establish a readership. add premium content. Then charge a monthly fee for premium content. And earn passive income through the monthly recurring revenues. The key is keeping the content always fresh. You could that in your spare time or let others do that for you. Hello Fiverr!
The key here is research, research, research!. Study the market first, assess what is your purpose in investing in the first place and then invest. You can invest as little as 100 dollars and invest in the long run. This is by far one of the most passive of the passive income that I have mentioned in my blog. It is also the slowest, this takes time and I am talking decades, not for the “I want it now “person.
7. Mutual fund investing
Pretty much like investing in the stock market. But instead of buying shares of stocks of a company, you buy shares of a fund of a financial entity or bank. Ideal for a retirement fund, not something you can realize the gain in a short span of 5 years
Basically blogging but here you are making a website for a specific niche. And its goal is to promote a certain product and make revenue through affiliate commissions. Nice!
9.Online course making.
If you have a skill that you think will be useful make an online course about it. The process will be long and hard but can be lucrative depending on how in demand is the training.
10.selling stock photos online.
If you happen to have a knack for taking photos this is ideal for you. If your favourite hobby is taking beautiful photos why not monetize it. Submit your best photos through sites like Shutterstock and 123RF I will be honest though be ready to face stiff competition. The key is to niche it down. Be very specific
You will notice that all of the above are
- Done online-The internet has grown exponential over the years, why not make full use of it.
- easy to get into-Any average joe can get into any of the above, as long as there is a willingness to go beyond your comfort zone.
- Needs no technical background-no prior skills required any skills can be learned along the way
- Can be done anywhere at anytime
- Does not need large upfront capital -the smallest budget can go as little as $50 a month
- Can be scaled-some of the means above can be outsourced some can be done remotely.
You will, however, need to have a clear mindset when getting into any of the above
- This is not a get rich quick scheme
- You will need to work hard on this
- You will need to put in the time, the good thing though is you can do this on your part-time.
- When I said, you do not need thousands of dollars, it does not mean its free, you will still need some start-up capital
- This is a legit online business.
- You have to provide value to other people
- Dedication is a must
- You will have to go way beyond your comfort zone
- You must be willing to learn new skills
- Patience is necessary especially when starting out
Finally, the point of my blog is that making passive income online is not an impossibility. There are more options now than there ever was, meaning your dreams are within your reach now that you have options. You just have to try which is the perfect fit for you. After all, nothing is one size fits all. What may work for me might not work for you. The key is the WILL to take chances and take the first step. Nothing happens when you don’t even try.