Passive income is the holy grail of income generation that allows you to make money on autopilot without sacrificing extra time to produce those funds. And, as we all know, time is the greatest balance in life. No person on earth, regardless of race, gender, belief, skin color, religious beliefs, wealth, occupation, or geographical location, has more time than the next person. We do all have the same amount of time a day. 24 hours. That’s it.
However, not all of us make good use of the time we have. In fact, we often waste it. We waste time on trivial pursuits, become fascinated by things that don’t help us achieve our goals, or become steeped in one bad habit after another, indulge in self-pity, and complain that the day just doesn’t have enough time. In fact, a lot can be said about a person by the way they use their time.
However, there is a level of determination that kicks in when we really want something badly enough. It allows us to overcome the realms of the so-called impossibility and to use and manipulate the precious seconds, minutes, and hours that we have in a day instead of wasting them. This is why passive income is so important. Since we all have the same amount of time each day, we can only earn so much money if we are exclusively gainfully employed. But we also know that it is extremely difficult to generate a decent amount of passive income.
If you’re on this page, you probably already know that passive income generation online is a giant for those who have mastered the art of marketing on the internet. However, for most, it also feels like a pipe dream. With so many putative experts standing up for the next best thing when it comes to making “millions in your sleep”, where should we come up with the best ideas to generate large amounts of passive income online?
Well, first of all, you shouldn’t buy into the hype. Do not allow these network marketers to sell you this so-called dream. It doesn’t quite work that way. You don’t get rich by sending emails or driving traffic to a squeeze page. It will be nominal at best, and if you set your hopes high you will be discouraged like the others. To “really make it” as an internet marketer, you need a large fan base. We’re talking thousands and even tens of thousands of email subscribers. Yes, so many.
And there’s no way you can build such a subscriber base unless you’ve been doing it for years. The sad truth is that they benefit from your naivete. If you don’t want your hopes to be dashed, be aware that you are in for the long run. If you want to lead a leisure life, be able to roam the planet as a digital nomad, and make ridiculous sums of money online, you have to invest the sweat capital.
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Best Passive Income Ideas Online
Okay, if I haven’t discouraged you and you’re still reading, congratulations. You’re probably one of the few people who see through things when it comes to setting up passive streams of income. It won’t be easy, but sure it will be worth it. It will take a tremendous amount of time and energy on the front end to take advantage of years of income with autopilot. The best part? Passive income is addicting. Once you have a stream online, look for more.
And after doing this for years, I’ve used some of the best methods for generating passive income. Each of them was associated with an enormous amount of work, but it was all worth it. So, if you think you have what it takes, then here are some of the best ideas for generating passive income over time. Just make sure you have the right expectations and don’t get discouraged. A little bit of action every day towards your goals will add up over time.
Create a Niche Blog
One of the best passive income ideas to take advantage of is creating a niche blog. By creating a niche blog and building the content, you can attract thousands upon thousands of actively engaged visitors to your website every day, so you can build a large podium and audience to market.
Don’t get me wrong, however. It is by no means easy. It will take years to do this effectively. And I’m not talking about casually punching something up and crossing your fingers. I’m talking 80 to 100 hours of work a week to build something remarkable. Yes so much.
But is it worth it? Absolutely it is. Niche blogs can reach huge audiences, opening up the opportunity for multiple passive income streams as you see fit. Should you decide to sell something to this audience, you can market a wide range of products, services, and information to them. But be careful with what you promote so as not to lose their trust.
You can also install ads on your niche blog if you wish. However, don’t expect to receive a sizable amount of money unless you have at least tens of thousands of visitors a day. Real Adsense cash and other marketing money pour in once you cross the 100,000 visitors-per-day marks.
Write an e-book
Another idea to generate passive income is to write an e-book. If you are an expert in a particular field or topic, especially if it is very technical by nature, why not write an e-book about it? You may not get rich writing an e-book, but they certainly add up if you write several or more.
Still, you can expect to make a few hundred to a few thousand dollars a month on an e-book, depending on how good it is. The more value you can add through this e-book, the more likely it will be successful. Here, focus on value, not how you can get the greatest return on investment with the least amount of work if you really want to succeed with it.
The best resource for publishing your e-book would be Amazon’s Kindle Direct Publishing (KDP) program. Amazon is clearly the leader when it comes to digital book sales. However, make sure that you do the proper research before attempting to publish an e-book and make sure that your topic has a large audience but is not too big. You don’t want to lose yourself in a fight.
Given that I have over three dozen e-books, I could probably devote an entire post to writing, publishing, and marketing an e-book, but I need to save that for a future post as I know so many of You wrote to me about publications and e-book sales to get some insight. I will definitely offer detailed instructions at a later date.
Produce an audiobook
I firmly believe in the power of audiobooks. In fact, audiobooks have grown in popularity significantly with the advent of mobile streaming technologies. It’s now easy to stream any audiobook from virtually anywhere in the world. And now that the e-book market is pretty saturated, a lot of people are turning to audiobooks
However, it can seem difficult to make an audiobook of any value. What works best here is to take a digital book and turn it into an audiobook. While you could go straight to an audiobook, it would be better to flesh things out in the digital book space, do the cover and do all the descriptions, and then port it all over to audio.
It’s easy to do with KDP. After you’ve published the book, all that’s left to do is to sign up for ACX, the audiobook publishing arm of Amazon. ACX is the best sales channel for your audiobooks as it not only appears on the Audible website but also automatically on the iTunes Store.
Note, however, that you must be a US resident or corporation to post on ACX. If not, you will find it incredibly difficult to do so. And while there are many considerations for creating a popular audiobook, this is definitely a great passive income stream that will go on for many years after all of the work is done.
Create an Online Course
Another great idea for generating passive income is creating an online course. What can you teach others to improve in critical areas of life? Do you have technical skills that you would like to pass on? Do you have any knowledge of web development, graphic design, finance, accounting, law, marketing, or any other field?
The best way to see if an idea is successful in creating an online course is to first research other popular courses on a website like Udemy. How many students are there and how many reviews are there? It’s easy to separate the super popular courses from the rest of the herd.
Do your due diligence and enroll for other relevant courses that you may find on this or any other website. Go through these courses and create a curriculum that makes sense for your own course. Make sure that you are taking the time to do this correctly and that you are not trying to beat anything up. Remember, this is a potential passive income for years to come, so invest the right time for it.
I’ve easily spent thousands of hours creating courses on sites like Udemy, so it’s by no means easy. However, if you take the time to add tremendous value, people will remember and appreciate you for it, and it will succeed in time. It’s by no means easy, but it’s definitely worth it.
Build an app
Building an app today is compared to building a website in the past. Almost everyone develops an app. Anyone. Because of this, there are tons of developers out there who could help you create the right app. But be prepared to invest time and energy in this project, not only in the conception and development but also on the marketing side.
Nowadays, just building an app and expecting to make millions of dollars is not enough. Since everyone does, not only do you have to build something great, but you also have to spread the proverbial word. You can make money online from apps today, but it’s definitely harder than it used to be, so make sure you get your expectations right.
To begin the process, you should sign up for an iTunes Connect account, which will allow you to publish your apps to the iTunes Store. This goes for iOS devices, of course, and if you want to create apps for Android you’ll need to use the Google Play Store and sign up there.
Wherever you decide to publish your app, be sure to invest the right time in conception, graphics, and functionality. Make sure it is the best possible app you can build, that it is simple, easy to use, and has significant entertainment or informational value for consumers.
Create YouTube Video Tutorials
Making YouTube video tutorials doesn’t get rich overnight, but there is a lot you can do with YouTube videos to generate passive income online. The first thing people think about when it comes to YouTube videos is the Adsense revenue streams. But don’t get your hopes up unless you are expecting millions of views for this video.
The problem? Adsense earnings are generally quite small and depend on how many people are watching this video. We are not talking about thousands of views here; We seriously talk about hundreds of thousands and millions of hits before you start generating significant passive income.
However, you can also use your YouTube videos to generate passive income in a number of other areas. Since YouTube videos generally rank very high and is the second most popular search engine in the world after Google, you can use your YouTube videos to market any other product that you need to sell.
For example, let’s say you’ve developed a course on Udemy. You can use these YouTube videos to teach some assignments for free and then promote your courses during or at the end of your videos. You can also use it to create product reviews and use affiliate links to sell products. The possibilities are endless when it comes to YouTube.
Sell photos on stock photography sites
Another idea to generate passive income online is to sell stock photos on some of the most popular sites like Shutterstock or iStockPhoto. There are numerous websites available to sell your photos online and it is entirely up to you which resource you ultimately choose.
However, you clearly need some photography skills if you are to succeed in this endeavor. It is also helpful if you can edit photos really well with a program like Photoshop CC if you really want to create photos that others will love and sell with ease.
You also need to make sure that you have a great camera and that you really understand the ins and outs of taking good-quality photos. You could even sign up for a Udemy class to learn photography. After that, when you master it, not only can you sell your stock photos online, but you can also create your own course to teach people how to do it themselves.
You should also decide on a specific format that interests you, e.g. B. Portrait photography, landscape photography, lifestyle photography or any other number that you can choose from.
Create printable goods on demand
Interested in creating your own print-on-demand merchandise to sell online? In fact, you never have to store or store these goods yourself. There are a number of different websites you can use to help you build a complete store of on-demand products that you can then market through any number of channels.
There are numerous pages for this. For example, you could use a website like CafePress that sells everything from t-shirts and clothing to prints and cards, mugs and ceramics, kids and babies’ clothes to home accessories. All you have to do is create uniquely engaging designs and market them to the right people.
Another site to do something similar is Zazzle. Here you can also sell numerous types of goods without the hassle of fulfilling orders or dealing with customer service issues. All you have to do is focus on the creative process and make sure you are driving traffic and making sales.
Each of these sites, along with numerous others that exist and may exist in the future, also give you things like promotional tools and the ability to ship products worldwide without ever physically manufacturing or storing a product. This is definitely an inexpensive way to create a passive income without the hassle of running an online store.
Sell digital products on Etsy
Another way to make a passive income online is to create exclusively digital products on Etsy, which is by far one of the greatest resources for selling arts, crafts, and other collectibles online. What kind of purely digital products could you sell on Etsy? Think printable framed graphics for kids’ rooms or motivational pictures for the home office.
In fact, any type of digital artwork could be sold on Etsy. If you’re starting out with photography, or are an aspiring or professional photographer, you can also sell your photos as digital downloads through Etsy. From vintage artwork to photographs and motivational prints, you can sell any number of all-digital products through Etsy.
This doesn’t include shipping products and would remove many of the same barriers you would find on sites like CafePress and Zazzle, except that you don’t have to print your artwork on physical merchandise. Customers buy, download, and print from the comfort of their own homes.
With Etsy, like any other online resource, you need to be able to drive traffic to your items. If you can do that and create really good engaging products that appeal to a niche audience, you will most likely be successful in generating passive income on Etsy.
Initiate Email Marketing Using Drip-Fed Campaigns
In order to do email marketing, you need a list. You’ve probably heard the saying that the money is on the list, but not just by any list. You need to make sure your list has people who are actively interested in what you have to say and who actually voted for your list. To do this, you need a way to generate these email registrations.
In short, you need to create a blog in order to drive traffic to great content that will then capture email subscribers along the way. To do this, you also need to create some kind of free offer that you can give away as a gift. Whether it’s a report, an e-book, or something else, if you want to keep track of those important email addresses, you need to come up with something that will enrich the lives of others.
Once you have these subscribers, you need to treat them properly. You can’t spam them every day. You should set up a drip-fed campaign that automatically markets and communicates with them based on a pre-configured schedule that depends on the number of days after signing up.
During this communication, you could be selling a number of things through this drip-fed campaign, but the most important thing here is getting in touch with your subscribers. Tell stories and deal with them to give them transparency in your life and yourself. Then, and only then, you should try to sell to them.
Start in affiliate marketing
For most people, affiliate marketing is high on the list of ideas for generating passive income. But not for me. Although I believe in affiliate marketing, I think some people have given it a bad rap for trying to over-promote and spam products and services.
Of course, I’m not talking about network marketing or pyramid schemes here. I’m talking about true affiliate marketing of the products and services that you stand for and believe in. These things need to add value to people’s lives or you will be wasting your time promoting them.
The problem? If you are serious about making passive income online through affiliate marketing, you need an audience. And to get an audience, you need a popular online destination where people can gather and read your mind or listen to your advice, which is not easy to achieve.
To get really good at this, you need to resort to the first passive income idea on this list for building a niche blog. You also need to understand the SEO works. You don’t have to be a grandmaster, but you do need to study the basic basics and be sure that you are doing things right.
Build an Amazon (FBA) business
Another passive income idea is to start a fulfilled-by-Amazon business also known as an FBA business. An FBA store gives you access to the entire Amazon marketplace and allows you to ship items directly through the world’s largest retailer. However, it’s not as easy as it seems, and it’s not 100% passive.
To build an FBA business and generate passive income, you must first find the right products to sell online. Once you find the hottest selling items, all that’s left to do is source those items yourself and develop a better product that you can sell at a better price than your competitors.
You can source products through wholesale sites like Alibaba or go straight to manufacturers with your designs and build things from scratch, although I wouldn’t recommend doing so unless you have experience in the manufacturing industry. To import your items, you can either fly straight to another company to see their production and range, or you can simply reach out to Alibaba to help.
Once you’ve been approved and sent your products to Amazon, just sit back and let them sell. You never have to worry about fulfillment, shipping or customer service. All you have to do is take your products to Amazon and collect your payments. This is mostly passive, but it does take some time after things have been configured.
Now is the right time if you’ve been dreaming of generating cash flow online. Stop procrastinating and get to work.
“Do not wait: the time will never be ‘just right. Start where you stand, and work whatever tools you may have at your command and better tools will be found as you go along.” Napoleon Hill
All you need to do is take the very first action, and you will be amazed at how easy every other thing will be.
Simply select one of the ideas here and start now on your journey to financial independence.
Which among these passive income ideas are you going to try? Have any other ideas that are not on this list? Let me hear your ideas in the remarks below!
To Your Success.