Believe it or not, every individual spends 100s of hours thinking about all sorts of crazy ideas for making passive income.
“Making money while you sleep”.
Sounds great, right??
Before going into more details, lets discuss on what Passive Income actually is??
“Passive income is an income received on a regular basis, with little effort required to maintain it.”
So yes, making money with little investment of time and effort. While there are many different passive income ideas, below is a list of quite a few passive income ideas. It’s very likely that you’ll be able to find at least two or three that will work in your situation.
1. Sell an ebook
This can be a lot of work upfront, but once the ebook is created and marketed it can provide you with a passive revenue stream for years. You can either sell the ebook on your own website or offer it as an affiliate arrangement with other websites that provide content related to your ebook.
2. Affiliate Marketing
This is a passive income technique that is better suited to people who have blogs and active websites. You can sign up to promote certain products or services on your site, for which you will be paid either a flat fee or a percentage of the amount of the sale completed.
It’s even easier to make money this way than with an ebook, because all you need to concentrate on is pumping out the content for your own site and getting the traffic in – most people can get an affiliate sale within 30 days of starting a blog.
You can find affiliate offers either by contacting vendors directly, or on dedicated websites, such as ClickBank. It’s always best if the product or service is one that you are either very interested in or is highly relevant to your website.
3. Youtube Videos
Year 2016 digital marketing has been mostly focussed on videos. Well, I think that getting the traffic to a blog is a lot harder than getting views on You Tube these days, because the text-based content world is so freaking full (and thus crazy competitive), whilst the video world is so relatively empty since most people are too shy to turn their prose into video. Also, people would rather watch 10 videos than to read 1-2 blog posts which means more chance to get conversions.
You can create videos in just about any area that you like — music, tutorials, opinions, comedy, movie reviews — anything you want . . . then put them on YouTube. You can then attach Google AdSense to the videos, which will overlay your videos with automatic ads. When viewers click on those ads, you will earn money from AdSense.
There are many marketplaces available online where you can sell your photos. Shutterstock and iStockphoto are 2 such marketplaces. They may offer either a percentage or a flat fee of each photo that is sold to a client. In this way, a single photo could represent a cash flow source since it can be sold again and again. You simply need to create your photo portfolio, put it on one or more photo platforms, and then the activity becomes completely passive. All the technicalities of the photo sales are handled through the web platform.
5. Buy a blog
If you can buy blogs with a reasonable amount of web traffic — as well as a demonstrated cash flow — it could be a perfect passive income source. Most blogs employ Google AdSense, which provides a monthly revenue stream based on ads that Google places on the site. There may also be affiliate programs generating additional revenue. Both income sources will be yours once you purchase the blog.
Some sites have good “evergreen” content that will continue generating revenue even years after the site has gone silent. If you were to buy such a site, and then to repopulate it with fresh content, you may be able raise the monthly revenue enabling yourself to sell the site at a later date for substantially more than what you paid for it.
6. Create an Online Course
Creating an online course on something you are expert on and sharing your ideas might help you to generate passive income.
There are a number of ways you can produce and host your own online course. One very simple way is to use a website like Udemy.com. Udemy as over eight million students and is a great way to get your content in front of others for their consideration. You can go through some courses in Udemy to figure out how these courses are prepared to get started. 🙂
7. Sell products on Internet
There are numerous amount of products which you can sell online. Product can be anything like softwares, DVD’s, instuctional videos, clothes, jewelleries,etc). You can either set up a dedicated website for this or you can sell it on affiliate basis, either by offering it directly to websites and blogs related to your product or service or through any other marketplaces online.
8. Become a business silent partner.
There are many successful business that needs capital for expansion. Grab the opportunity to become something of a small-time angel investor and provide that needed capital. But rather than offering a loan to a business owner, you instead take an equity position in the business. In this way, the business owner will handle the day-to-day operations, while you will act as a silent partner who also participates in the profits of the business.