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                  10 ways you can earn passive income online

 

You go to work and stay there from 9 to 5. Every day you put in the hours. But at the back of your mind you know there’s something wrong. You have a steady paycheck,  You know you’re supposed to be happy, you have a job, not everybody has one.

But you know what you are making right now is just getting you by…barely. You know for a fact that it’s been years since your last raise and you highly doubt it that the company your working for will ever going to raise your salary.

You know you have to do something about this…anything but what? You’re willing to take the steps needed but you don’t know where to start. Well, my friend, what you need is a passive income source. So what are your options to earn passive income online?

  1. Blogging

It is all about making websites, creating content that is helpful, provide a solution to peoples problem, create a followership, and monetize it. 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 a living out of it why can’t you? Click here to read more…

      2. Ebook publishing

Create an ebook that solves people’s problem. Sell it online through Amazon. Promote it through google. And make money through royalties for years and years to come. The hardest part is writing and research part which can be outsourced. Cool!

     3.Vlogging

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. And make revenues through ads and promoting other peoples product. The videos last for years and the best part is you get to be a star in your own right!

      4.Podcasting

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!

      6.Stock inv

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

      8.Niche websites

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

  1. Done online-The internet has grown exponential over the years, why not make full use of it.
  2. 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.
  3. Needs no technical background-no prior skills required any skills can be learned along the way
  4. Can be done anywhere at anytime
  5. Does not need large upfront capital -the smallest budget can go as little as $50 a month
  6.  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

  1. This is not a get rich quick scheme
  2. You will need to work hard on this
  3. You will need to put in the time, the good thing though is you can do this on your part-time.
  4. When I said, you do not need thousands of dollars, it does not mean its free, you will still need some start-up capital
  5. This is a legit online business.
  6. You have to provide value to other people
  7. Dedication is a must
  8. You will have to go way beyond your comfort zone
  9. You must be willing to learn new skills
  10. Patience is necessary especially when starting out
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