Are you fed up with 9 – 5 life, working overtime as always which drives you day by day, year by year, and your boss is always chasing your working progress. Because your boss is one of vested interest people, or the only vested interested person in your company, so that he always earns way more than what you did everyday. Somehow you are not happy with your work, and don’t know what life is for?
Are you ready to earn passive income online? If yes, you are in the right place. You are not alone, there are over thousands of people in the world asking the same question everyday as you did. Earning while you sleep is the dream many people are looking for. We will explain to you briefly, and teach how to help you to earn passive income online.
What is Passive Income?
According to Wikipedia’s data, passive income is a type of income that requires little to no efforts to earn and remain. Passive income is also called ‘progressive passive income‘, when the earlier expands little effort to grow the income. Also, passive income is called ‘earn while you sleep’, which means the person still earns money while asleep.
Example of passive income including affiliate marketing, cash flows from property income, dividend stocks, from owning financial assets, invest in stock market in automatically, make money online, money market funds, network marketing, MLM, profit of partnership from a capital, rental income, rent out your car, selling ebooks online, selling t-shirts online, or any type of business activities in which the earner does not materially participate.
What about Active Income?
The opposite term of Passive Income, is Active Income, means any type of activities in which the person needs to create by themselves and in hands, or spend their work to get the fixed income, such as working for someone, lawful income, etc.
Active income is also called ‘Income before you sleep’, which means you will need to work before you sleep, and no income while you sleep.
For example, you have a $1000/month job, you need to get it while you go to work, income will be stopped while you stop working. If you lose your condition of time for money, for example get hurt, get sick, retire or get fired, your income will be lost after that. You will lose your guarantee of your life, you will be afraid of your life, this is the trap of ‘Time for money’.
Take your time and look at these ideas if you want to set yourself up for success.
Passive Income Ideas
Passive income is highly what people are seeking, but this term is often misunderstood.
Some ideas of ‘passive income’ on sites are making fake promises and brag about no investment required, to make easy and quick money. Does free lunch leave on the table? Come on, they are scams!
There are plenty of passive income ideas, the most popular include investing into the stock market, owning real property, investing in a business, or even keeping your money in a high yield saving account to grow your interest. All of the above are generating passive income, but those require a high capital fund.
Nowadays, people generate passive income through online methods.
20 Ideas of Passive Income
- Design T-shirt
Some website like Cafe Press allows users to design items like t-shirts, if your design becomes popular selling and makes sales, you will be able to earn royalties.
Amazon has gotten this idea into their business, they have a new service called Amazon Merch, while you upload your designs simply, Amazon takes care of the rest process (making, packing, shipping).
- sell your ebooks online
Nowadays, sell-publishing is extremely easy, you can use your computer to write and edit, create a book cover, and upload to a program, such as Amazon Kindle direct publishing, Amazon will take care of the rest, such as shipping and payment process.
You do not need to make the rest process by yourself. But do not expect instant success though, there will be a lot of upfront marketing before you can turn this into a passive income stream.
- List your place on Airbnb
If you have a spare room, or spare house, apartment, or even backyard, you can consider to list your place on Airbnb for short-term, or long term rental when people get your place reserved.
Airbnb is a good place because you can make money on a space you already own. It does require a little bit work up in advance to prepare your place before guests come down. List, and clean up after guests are gone, but it is pretty passive.
- Car Wash
To own a car wash is such a good idea of generating passive income. Regular maintenance will be needed at a car wash, it is something you can hire out, or perform once per week either.
We are talking about a real basic car wash which has cinder blocks, pressure washers, coin operated machines. If you are thinking of running a drive-through car wash, it’s definitely a business with a passive income stream.
- Affiliate Marketing
Affiliate marketing is a place partnering with a company (become their affiliate publisher), to receive a commission of product(s). Using this method of generating passive income works the best for people with blogs and websites. This process takes some time to generate before it becomes a passive income.
If you are interested in how to get started in affiliate marketing, continue to check out this article, create your free website here, to make sure you don’t miss a chance.
- Network Marketing
Networking marketing is a decade old modern marketing type that involves selling legitimate products at fair prices directly to consumers who need it. Instead of distributing products to stores and relying on hired salespeople, companies use a network of distributors, many of whom started off as customers.
- Develop MLM career
MLM is also called ‘Multi-level marketing’. Companies such as Amway, Atomy, Avon, Forever Living, Usana, Herbalife, etc are all multi-level marketing companies. You can start to earn passive income through network marketing by building a team underneath yourself (often referred to as a downline). Once you build a large team, you can earn commissions off their sales results without doing a lot of things.
- Rental properties
Cash flowing rental property/ premises is a good way to bring in monthly income and passive income. To make this truly passive, you can outsource the running of the properties to a management company.
However, the internet has made investing in rental properties much easier than ever before those old school days. There are plenty of ways you can invest in rental properties, depending on your goals and interests. You can become a limited partner in large residential or commercial properties, or you can buy homes and be a landlord, with all online.
- Invest a business
Another way to generate passive income, is to invest in a business and become a silent partner. This is very risky, but with risk comes potential for high ticket returns.
For example, many years ago, Lyft and Uber were looking for private investors to invest their company. Today, both of them have become billions. Which means it’s risky.
There are ways to reduce your risk. For example, you can invest small amounts in many companies through lending them money in small bonds. There are tools available where you can loan money to a business and get paid a solid return for doing it.
- Dividend stocks
Dividend stocks are one of the ways to earn passive income. You will need to do plenty of research, to find good stocks and invest a significant amount of money to receive high dividend checks. However, if you invest money into dividend stocks consistently, you can amass a nice residential income over time.
- Create online course
If you have something in your profession, or if you are a guru, you can create courses online in Udemy.
Udemy is an online platform that lets their users take video courses on a wide array of subjects. You can be a producer, to build up your own video courses, allow users to purchase it instead of being a consumer. This also a good way to turn tutoring in the traditional way into passive income online.
- Selling photos
Have you ever thought, how did magazines, blogs or websites get their photos? Normally they bought at the stock photo websites. If you like photography, you can try to submit your photos to stock photo websites, and earn passive income online, receiving commission every time when someone purchases one of them.
- Licensing music
Similar as stock photos, you can license your music when someone chooses to use it. Music is often licensed for YouTube videos, advertisements, and more.
- Sell your digital files online
If you are a graphic designer, or programmer, you can try to sell your digital files online. There are plenty of digital files selling online nowadays, from music producing programs to stock analyzing programs, you can even sell it online for passive income.
- Cashback Rewards Cards
If you pay bills, purchasing with your credit cards, mention the promotions of the card provider of the bank if they promote cashback plans, or if the card attaches to a cashback plan. It’s the easiest money ever you put into passive income. Make sure if the card has an annual fee or your rewards may be cancelled.
- Cashback websites
Similar to cashback cards, you should often use cashback websites, to make research if there are promotions on while shopping online.
- Create an app
If you have the skill of creating apps, you could try to create an app. If not, you can try to hire a programmer to create an app for you. You could try to sell it on App store or Play Store to residual income.
- Vending machines
Vending machines are another way for residual passive income, requiring low maintenance and small business ideas. You just need to refill the stock, and cash out once or twice a month.
- Rent out your car
Similar to listing your place and rent out, you can also list your car for rent. This could be the truly passive income, because you rent out your car while you are not using it, and you have it on your own already.
- Invest in stock market automatically
If you are not interested in paying dividend stocks, or debentures, there are still ways to generate passive income in stock markets. You can automatically invest in various ways through robo-advisor.
Robo-advisor is like what it sounds like, a robotic financial advisor. You spend out your time answering a few questions and setting up your account, then the system will help you to take care of it.
How can I invest to earn passive income?
Now you may be thinking of investing in stock market, mutual funds, or even to invest into long term debenture. Like I said, those require a high capital fund, and many people don’t have this big money to invest.
What, if you choose what you like, what you are passionate on, something you know a lot more about, earn while you learn, to make passive income online, it sounds nice, right?
Earn passive income while you sleep with Affiliate Marketing online
We mentioned the basic definition of affiliate marketing and how the process works in the previous topic, let’s talk about how to get started.
Many affiliate marketers don’t take the time to plan and sign up for every affiliate marketing network, or affiliate marketing program they can find instead of.
And finally they end up overwhelmed and overloaded.
Don’t be like them. Take your time and work through these 5 steps if you want to set yourself up for success. Complete the first 4 steps before you even consider promoting a single product.
Find your Niche
How do you read, “nitch” or “neesh” ?
Either way when you pronounce it, choosing a niche (like we mentioned ‘choose what you like, what you are passionate about, something you know a lot more about, earn while you learn to make passive income online’) will give you focus to your business and help you to build up contents. It will also make it easier to create targeted marketing campaigns.
For some people, choosing their niche is the hardest part of starting their own business, because they have plenty of choices about what they can choose. But it does not have to be that way. To choose your niche, it just takes asking a few questions:
What am I passionate about?
Typically, the things we’re passionate about are things we’re also already knowledgeable about, which makes it much easier to create contents.
Is this topic big enough?
Is there enough to the topic to create up to 100 blog posts?
If not, you may struggle with search engine optimization (SEO) or have trouble developing authority.
Is the niche over-saturated? Is there room for another affiliate in the niche?
Before jumping into an overly popular, overly competitive niche and trying to compete with people who have been around for a while, perhaps give another niche a try.
Is there money in this niche?
Well, money is not everything, to be sure. If you’re interested in a couple of topics and one is a moneymaker, but one is not……. choose the moneymaker one.
Build a Website
Once you’ve found a profitable niche that you’re excited, passionate about, you’re ready to build a website and blog. WordPress Beginner has a great guide to help you choose the best blogging platform that will definitely make this process a lot more easier.
The primary focus of your site is going to build your blog, but there are several pages that you should consider including (and some that are a flat-out MUST for affiliate marketers).
About: Make it personable, or use a 3rd party method, and let people get to know you a little.
Contact: This should include all contact information that you want to share with your readers, advertisers, or potential partners.
Disclaimer: If your site is monetized, this is where you share the how of it.
Terms of Service: This is a legal page limiting your liability in the event of misuse of information or services provided on your site. It also details user responsibilities regarding copyrights and trademarks.
Custom 404 Page: A custom 404 page goes a long way toward improving the user experience.
Advertise: If you plan on selling on-site advertisements, include a page for advertisers with information about available spots, monthly views, audience demographics, and a contact form.
It is important to make sure that your policies are clear and upfront to avoid confusion and to build trust with your audience.
Create Quality Content
Now that the framework of your page is ready to go, you need to create content.
Some affiliate networks and affiliate programs require you to already have established content, site traffic, and monthly views at a certain level before they’ll accept you as an affiliate, so be sure to read the eligibility requirements for the specific networks and programs you’re considering before you apply.
This doesn’t mean that you have to create 100 blog posts before you can even think about becoming an affiliate marketer, but you should have at least 5 strong posts already on your site with more scheduled.
Choose Affiliate Products to Promote
If you’ve done the work to choose a niche, choosing affiliate products to promote should be easy! Choose products that fit your niche and relate to your content.
Make a list of all of the products and services that you use and hit up.