What is passive income
What is passive income? in short answer :
Passive Income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it. Passive income is generally defined as a stream of income earned with little effort, and it is referred to as progressive passive income when there is little effort needed from the individual receiving the passive income in order to grow the stream of income. Examples of passive income include rental income and any business activities in which the earner does not materially participate during the year.
According to wikipeida definition
you may also want to read 5 ways to build passive income online
Ideas for passive income
while there are many ways to make passive income online, I like to focus on what really works and everybody can do it. so lets begin to discover these ways, First :
1. Design T-Shirts
This is one of the easiest way to make passive income, the process is as follows:
next step is to sign on one of these website to sell your design.
here are the best website to sell your t-shirt design without owing physical or online store.
Sites like Cafe Press allow users to custom design items like T-shirts. If your design becomes popular and makes sales you’ll be able to earn royalties.
Even Amazon has gotten into this business. Amazon has a new service called Amazon Merch, where you simply upload your designs and Amazon takes care of the rest (making it, packing it, and shipping it).
2. Create a Course on Udemy
I’ve done this before it’s great way to share your skills and earn money.
the process is not hard, lets say you expertise is on web design, you can actually create course on this it’s in high demand.
the good thing is that you only have to do it once, you don’t even have to show yourself on the camera, you only need to record your screen and have a mic to record.
Udemy is an online platform that lets its user take video courses on a wide array of subjects. Instead of being a consumer on Udemy you can instead be a producer, create your own video course, and allow users to purchase it. This is a fantastic option if you are highly knowledgeable in a specific subject matter. This can also be a great way to turn traditional tutoring into a passive income stream!
to get started get good mic for recording your voice.
if you’re windows user download campteia.
Open QuickTime. Tap “File” at the top of the display. Choose “New Screenrecording” … You can record the whole screen, or click and drag your mouse cursor to record just a specific part.
3. Sell an eBook Online
We all have purchased books on amazon, most of these books are self-publishing books that writing by people like you.
you can do the same thing, amazon has a program called Amazon kindle where they allow you to publish your book on their platform.
Earn up to 70% royalty on sales to customers in the US, Canada, UK, Germany, India, France, Italy, Spain, Japan, Brazil, Mexico, Australia and more. Enroll in KDP Select and earn more money through Kindle Unlimited and the Kindle Owners’ Lending Library.
4. Selling Stock Photos
if you love to take photos, now you can sell them online, there are many websites willing to pay for your photo.
With over 60 million images, Alamy is the largest stock photo website, but they also pay well too. Photographers earn 50% of every sale, and aren’t restricted to selling exclusively with Alamy. To join, photographers need to fill out a form and pass a quality control test.
Do you ever wonder where your favorite websites, blogs, and sometimes even magazines get their photos? These are normally bought from stock photo websites. If you enjoy photography you can submit your photos to stock photo sites and receive a commission every time someone purchases one of them.
There are the best websites to sell your photo
- Alamy : Photographers earn 50% of every sale
- Fotolia : Photographers earn 33% of each sale through both Fotolia and Adobe Stock.
- iStock : royalty rates is up to 45%.
5. Affiliate Marketing
Affiliate marketing is the practice of partnering with a company (becoming their affiliate) to receive a commission on a product. This method of generating income works the best for those with blogs and websites. Even then, it takes a long time to build up before it becomes passive. almost every company has their own affiliate program for example Amazon has affiliate program that is basically pays you when even someone purchase through your link.
Clickbank also is one of the largest affiliate website that offers millions of products to promote.
6. Cashback Sites
How cashback sites work ?
Cashback sites take advantage of the way commercial payments from one website to another work. They use affiliate links, which allow the retailer to track where the traffic is coming from and then pay the cashback sites for the lead.
This is a common system, used by sites that send people through from comparison results, unique content (MSE does this – see the foot of the page for more details) or using links on advertising promotions. Cashback sites simply drive traffic by giving their users some of the money they’re paid.
Top cashback sites :
7. Get Paid Testing Apps on your phone
What if you could install an app on your phone, and get paid for it? Yes, this app tracks what you’re doing and it sells your data – but what’s more passive than that?
Cash for app is company allow users to earn money by downloading other apps. the way it works that you get list of apps to download each app has different points that will be paid for downloading them.
you will earn $0.10 – $0.50 each app you download.
This is how it works
This app pays you in points for downloading its apps. Most apps in the list pay from 10-70 points, this can be earned for either running the app or doing a small task on the downloaded app. These points are then redeemed for gift cards or mobile phone recharge.
Swagbucks is another way to earn money by doing varity of things like survey, or search the web through their search engine, play online games or go shopping.
8. Start Youtube Channel
Creating and growing youtube channel is one of the best ways to build royal customers. it could be about anything you like as long as you enjoy doing it in front of the camera. if you don’t like show your face on the camera. you can record about whatever you interested in. or you can start podcast on youtube.
there is always people interested in what you doing.
how to make passive income Fast
The fastest way to make passive income is by investing money in any existing business and receive loyalty on your investment, but in this blog post I’m focusing on proven ways to generate passive income that I’ve tried and it does work.
But be patient and work hard on one thing until you confident enough to jump to another passive income.
passive income examples
closest example of passive income is renting your property for example, you don’t have to me there everytime, you would just hire someone to manage it and you just collect the monthly profit.
another example of passive income is blog like this one. where you spend a lot of time building and perfecting everything and providing as much value as possible.
then you can make profit by showing ads, or selling other brand’s products and get commission on each sale.
that could be sort of passive income, because you don’t have to put alot of time after you build it. it may take long time to see result.
What is the best way to make passive income and how to create passive income with no money?
- Create a course
In my experience, the best way is to create something valuable like online course, that’s easy to do. I’m going to write about this subject soon.
All you need is your laptop and free recording software and mic. that’s it.
- Build a Blog
another way is to build niche blog. that could be photography blog, certain hobby like football, baseball, stocks. whatever you interested in.
you can start creating blog for free using blogger
- Youtube Channel
this is one of the best way to build a brand, youtube is your ticket to build massive online business.
if you confident in front the camera, consider creating your own youtube channel and share what’s you’re passionate about.
All these ways requires no upfront capital, you can start today.
Does passive income really work?
Yes! it does, the secret is focus on one passive income until you make decent income, then find another source of passive income, by doing this you become more confident to combine your experience with your accumulated wealth to start even more steady business.
Passive income is how the rich continue to build wealth. When you don’t have money, you can leverage your time and effort to create income streams that will grow into the future. As you accumulate money, you can deploy that money (and even combine it with your time) to generate more and more passive income.
Where can I invest to have passive income?
If you want to invest to generate passive income, dividend stocks and mutual funds are great ways to do it. You can also invest in debt instruments, like bonds.
If you want a safer approach, you can invest in a money market account or CD to get a risk-free return on your money.
What are the most popular passive income ideas?
There are lots of popular passive income ideas. The most popular include investing in the stock market, owning real estate, investing in a business, and even simply keeping your money in a high yield savings account. All of these approaches generate passive income, but they do require upfront capital.
Does passive income really require “no work”?
This is unrealistic , anyone tells you that is probably scam, passive income requires one of these : upfront money or time. there is no such thing as no work or no time passive income.
By picking up one idea and act on it, the success rate will be high because you will devot your enegry on one thing. as biggener I’ve made this mistake. the best approach is to pick up one thing and master it. for example if you intrested in ecommerce start shopify store you get 14 days free trial.
or start youtube channel that will not going to cost you any upfront money. you can use your phone to record its nothing wrong with that. I actually recommend it.
Blogging is good way to start as well. you can go with blogger its free. once you test it and see you can build wordpress blog like this one. its also free but you have to pay for the hosting and domain name which is actually cheap around $12 per year.
I hope this post was helpful .
Tell me what do you think is the best way to start making passive income ?
Which idea you liked most and why ?