Nowadays, living off and relying on our day-to-day job to not only make ends meet, but to also help us reach our goals in life is no longer enough. A few decades ago, job stability was ranked close to the top of what people looked for in jobs; nowadays people are more focused on enjoying themselves, whilst also having the freedom to explore all the options available to them. Relying on your nine-to-five to fulfill this is now widely accepted as being insufficient, and that is why many people are looking for other streams of income to supplement this. A popular method is finding channels to generate passive income, based online. Below we shall explore four ways you can start making passive income online today.
1) Amazon Kindle Publishing
Writing an ebook and selling can be very profitable, with relatively little work needing to be done once the book is published, as Amazon can take care of the marketing. If you don’t have any inclination to write a book, you could consider outsourcing it. There are numerous sites online that will take a given topic; research it, write it and publish it online for you. What’s up to you is to research and pick the right niche that you believe could be successful. Once the book is published, it’s pretty much up there for good and you can just wait for the sales to roll in.
2) Affiliate marketing
Find a product being sold, advertise it, and get paid a commission on the sales that go through you. A simple concept and it is basically just being a middleman, rather like a supermarket selling brands other than theirs. The plus side is you don’t have to hold any inventory, and you could do this job remotely. Advertise almost anything under the sun from water bottles for regular customers, to a visitor management system for businesses. Create a link and lead people to it on your website or blog and if people buy through it, you have yourself some passive income. The opportunities are almost endless.
A very popular way of getting into e-commerce nowadays is to dropship products. The lure of low start-up costs, no need to store inventory, and the passive nature of this business means that many people are too, jumping on the bandwagon. The trick is to differentiate yourself from the other stores by offering better products and customer service, and to look more professional. There are many stores online that really look as if minimal effort has been put into their product and actual website, so avoid this. If you get this right, your store could literally be making you money in your sleep.
4) Create Youtube videos
If you think you are good in front of the camera, or at least want to try, start by creating Youtube videos on whatever you find interesting. Once you have found your niche, focus on it and build a brand around it. Make videos consistently to give yourself a better chance at being noticed, and once you begin to get a following, you may get to the point where you can monetize your videos through ads. Everytime you video is viewed, you get paid; it’s as simple as that. The ultimate passive income!