Most ideas for earning passive income will either take a nasty lot of time or earn low returns. Thus, the question now is…what’s working?
I’ve personally spent lots of hours considering all sorts of insane passive income generating ideas. And for days, weeks, and months, I’ve thought about just every passive income stream that exists out there. During this time, I was so willing, if possible, to try out most passive income streams that were ever written about.
Sad to say, I could hardly find a comprehensive list of best passive income streams and opportunities that really work
What is Passive Income?
When I mention passive income, I’m simply referring to what comes up after you’ve done the hard work beforehand.
Obviously, passive income streams are generated from valuable resources, and those resources are either acquired through self-labor or money.
Let’s get into the discussion…
1. Sell an eBook
This is the much desired model for most content writers and bloggers for a cogent reason. It’s pretty straightforward to compose a 70-100 page eBook, easy to sell say $600 worth a month through guest blogging, digital networking and your personal blogging portal.
Once you’re done writing your eBook, you can, of course, turn to a podcast and sell using the Amazon Kindle Direct Publishing (KDP). You can also request the paperbacks and sell more at Amazon book stores across the United States.
2. Create a Blog and Get the Affiliate Links Going
Research shows that companies with a business blog earn much more traffic than those without a business blog. So, affiliate marketers make the most out of promoting brand products using their business blogs.
As part of the crucial ranking signals in Google’s search algorithm, social media platforms are leveraged by bloggers and affiliate marketers to promote products of companies and improve their PageRank using social signals indirectly. This symbolizes that social signals aren’t crucial for ranking directly but indirectly.
Though most newbie bloggers are always eager to start earning from affiliate programs with their blogs, it can take some months or even years to pull enough traffic that will generate lots of affiliate sales and commissions.
3. Sell Physical Products Online
If someone had told me about 12 years ago that I would make money passively from selling physical products online, I would say no. The reason I wouldn’t be able to accept it is that it was quite difficult back then to sell physical products due to high shipping costs.
But now, the story has changed in that we do have a couple of e-commerce stores like Amazon, eBay, and AliExpress among others that have now gone far in making shipping of physical products from one location to another easier than ever. They had introduced an e-commerce system called dropshipping which ensures that you can sell physical products through your own site but e-commerce stores do the shipping to the buyers’ locations anywhere in the world.
4. Invest, But Do it Elegantly
Investing is disputably the simplest way to earn passive income. The issue is that most investment opportunities theoretically sound awesome but when it comes to the practice, they aren’t worth it.
So, it can seem complicated if you don’t have much capital to invest with or have much knowledge of the investment you’re about to venture into. So, you need an elegant way to invest.
5. Sell a Digital Course with Membership
This has a lot to do with running a community and selling digital courses to community members. It could be in form of text-based or video-based affiliate marketing certification and so on.
The certification should contain images, video tutorials, tasks to complete by members and others. It is a daunting task to run a community anyway because people will always require attention and this must be given to them as much often as possible.
6. Create a Lead Capture Website
Leveraging this passive income idea, you can be generating hundreds of thousands of dollars monthly passively!
This is simply about coming up with a search-engine-friendly niche blog or website that has a high converting opt-in email subscription form for capturing leads, giving exclusive offers in form of digital downloads, eBooks, digital courses, free report or anything else in exchange for details like email addresses, first names, last names and so on to increase conversions.
7. Build an Online Store for a Real Service
This is an easy thing to venture into if you’re interested in building an e-commerce store to start selling digital and physical products.
To make the most out of an e-commerce store, you need to build a search engine optimized blog or site to drive potential leads and convert them into purchasing customers. You can earn income passively with a well-designed and optimized website.
8. Get a Rental Property
This is another sensible way to build a passive income stream. Investing in rental property is a tested and proven way of earning passive income and it’s been a business admired by most retirees out there.
If you purchase at the right time, at the right amount, arrange the deal such that it is suitable for achieving full residency and for personal taxes. Most essentially, repeat this process over and over again in preparation for retirement at say 50 or 60.
9. Start a YouTube Channel and Earn the Advertising Revenue
This is a much experienced, researched, and proven way to earn income passively from home uploading YouTube videos.
What’s been a recent change?
Anyway, these days, driving views on a YouTube channel or video is much easier than driving traffic to a website or blog. This is simply because the video-based content is pretty less competitive than the text-based content and the video world itself is comparatively uninhabited compared to the text-based world. And most people aren’t that bold enough to turn their work into awesome videos
10. Resell Digital Products and Services
The first idea that dropped in my mind is mobile sites while the second idea is web hosting. GoDaddy is an example of a platform you can partner with and start reselling domain names or hosting services through your own website or blog.
Aside from reselling domain names and web hosting services to people, there are a lot of other things you can resell on your site and earn passive income.
11. Write for Cash
This is totally different from creating a blog and monetizing it with AdSense. It’s beyond all that.
With this passive income idea, you write lots of content and have them distributed to high PageRank content management systems like Medium and many others. The benefit of distributing lots of content to high PR content publishing platforms is that such content ranks fast in Google and you earn cool and consistent income.
12. Create an Online App
You could earn serious income offering billing services online to builders from WordPress site designs to online productive capacity tools to specialty-specific ideas.
Conspicuously, professionals can handle all the heavy lifting for you, and you can simply have the software sold online leveraging your direct marketing endeavors.
13. Set up an eBook Reviews Site
Certainly, you’ll want to leverage e-commerce services like Amazon using your own affiliate links. You can set up a separate website for just reviewing books published on the Amazon Kindle Direct Publishing platform. And you can simply monetize your book reviews site with Amazon Ads.
So, you can earn from 4% to 6.5% commissions on books that sell for $12-$35, and those cents can add up to a whole lot of money at the end of the day.
14. Become an Online Publisher
This is another passive income idea that is extremely easy to go about. You start by building a blog and leverage the best digital marketing strategies.
So, whether you’re creating eBooks, or digital courses, you’ll be publishing and the money will start streaming in. You can sell your own products as well as other people’s products using your personal blog.
15. Create, Produce and Sell Your Own innovatory Products
This is an idea that lets you come up with your own innovative products and you can sell right on your own blog or website once you’ve started getting tons of traffic. You may have to face some challenges at the beginning of this, but remember that the greatest achievers in life are the people with the greatest challenges.
There are a couple of veterans who have become e-commerce store owners today with lots of milestones achieved in the business of selling personal and innovatory products. Platforms you can use include Shopify and you can as well leverage social media platforms to spread the word. Guest posting and online networking are equally instrumental.
16. Purchase an Existing Online Business
It’s more difficult to build a business from the onset than to just buy a successful business that has already existed for a while. Starting from scratch is a daunting task and it takes a lot of time, energy and resources to bring it up to a successful and profitable stage.
So, gathering some hundreds or thousands to buy an already successful cash-pulling machine is worth it.
17. Create a Business System and Franchise it Out
This is the idea of setting up the next funnel for your business. Creating a business system and licensing it can take you to the next level of earning passive income.
Without complicating this idea, a funnel isn’t that passive really in as much as the business system entails getting a lot of effort from the main office. So, it isn’t as passive as most other ideas previously talked about.
18. Create a Sales Website for Your Specialty
Sale websites are not that common anymore these days but some people are still leveraging such to sell products based on their niches.
Note that before you dive into such a business, you’ll have to work hard towards bringing the business to a successful stage. No matter what your specialty might be, you can think outside the box and get on with the business.
19. Design Mugs, Tshirts, and Sell Through an Online Marketplace
If you’ve learned a bit of graphic designs, this could potentially be a great income idea for you. There are platforms online where you can sell your graphic products and make a lot of profits.
Platforms like Cafepress, Fiverr, SEOClerks, and others make it extra super for you to showcase your designs, which is simply like having a stock image idea. You can, of course, come up with some images, logos, and graphics and list them for sale.
20. Create a Highly Specialized Marketplace or Online Community
Be specialty conscious here and practice your niche at the core of it.
The business idea here is simply about getting a couple of people involved, producing some pieces of content through online forums, then you can start selling all categories of products or services related to their niches.
21. Build a Specialty Focused Jobs Board
If you do have a blog that has been getting tons of traffic hits, you can create a jobs board whereby people will come around and sell services such as freelance writing, graphic design and many other services like these. The jobs board has to be a specialty focused one.
You may need the knowledge of programming or HTML to be able to come up with this. You’ll need a bit of HTML even if there are templates you can just make use of.
22. Give Software, Plugins, and Content Away Completely Free in Exchange for a Donation
This is a common passive income idea for WordPress plugindevelopers, and also used by most content writers and bloggers who produce and deliver a lot of informative and valuable content for free.
The passive income stream is based on you having a self-made product that adds a lot of value to satisfy the users’ intent for free and you can logically or systematically ask for a donation through your personal website.
23. Build a Specialty Website that’s Focused on Physical Products and Connect with Amazon Affiliates
This is totally different from owing a fake store, in as much as this isn’t an e-commerce store, but simply constructing a website loaded with tons of valuable and helpful video and/or product-focused content that matches Amazon affiliate links.
There are two major ideas; first one being for an affiliate website or blog of categories while the second idea is meant for an e-commerce store.
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