What is Passive Income?
Who wouldn’t want to be rich? I mean come on, all of us want to earn millions even when we are just sitting around all day right? While most people work their ass off, eight hours a day, there are still others who are just having a vacation and yet earning through passive income.
Passive income is the earnings you get even when you are not exerting much effort to the work. This profit may possibly come from a partner, another enterprise, or letting people rent your property. But actually, there is a big misconception about that. People think that through passive income, you’ll have more time for your leisure than work. But the truth is, you’ll still have to establish a good source of passive income.
Most successful passive income ideas don’t just happen overnight. Like for example, for those YouTubers, we don’t know the amount of time they use to edit a perfect 15-minute video. They even have to market their content by sharing it, or making themselves popular so that people will watch them.
If you do the math, there is still a bigger side of the equation before you can equalize it to a good passive income.
Once you’ve established a good source for passive income, there is when you can lessen your effort towards work and maybe have some leisure time and wait for your earnings to get high in no time.
In this article, we will also show what are the possible ways to have passive income.
Passive Income Ideas
There are actually a lot of passive income ideas that you can search for. We listed down all the great ones for you in this section.
We will explain each or some of these ideas in a separate article. This is to discuss more how a certain idea possible, and what should we do to establish a good passive income with that idea.
For now, let’s check out a lot of ways to generate passive income.
As most of us are familiar with this word, blogging is a great source of online income. You can really use a website to market a lot of things nowadays. But the greatest source of passive income from blogging is these three important things: advertisements, affiliate marketing, and digital products.
This job does not require any shipment or any physical products from you. Customers will surely get services, ideas, and important information from the things that you will write.
But the truth is, blogging is not easy. You really need to establish your website. It requires time, effort, affiliation, and money to maintain. When you are able to create a good working website, that’s when you can really generate a good source of income.
As mentioned above, blogging is one way to do affiliate marketing. But there are still other ways to do this work.
First, you need to find a high-paying affiliate program that is fit for your website niche. Luckily, there as tons of affiliate marketing programs for every type of website niche.
Once you find a brand to market, aside from blogging, you can also do email marketing, YouTube channel, social media, and video overlays to promote the brand.
Most of your job is to endorse a link and make sure your audience click them and avail the brand. Through this, you will have your commission.
The key is to have a good and trustworthy image to increase clicks.
The concept of dropshipping is very popular in today’s market. And it is really a great way to earn money online. All you need to do is to create a store online where people can actually buy stuff.
You don’t have to actually purchase any item, you will just have to post them with additional prices on your store.
For example, you post an item for an amount of $200. The price of the item from the actual supplier is $150. Meaning, you will have a $50 profit. So when a customer orders from your store, you will automatically have a passive income instantly. The best thing is you don’t have to ship the product because the supplier is the one who will.
This is the actual concept of Dropshipping. There are also other websites where you can actually create a store for Shopify and other online shopping apps.
Do Online Courses
You can also create online courses to earn money online. People nowadays are eager to learn a lot of things, especially some tricks and tips from experts in specific fields.
By creating great teaching content and selling them online, you will be able to generate passive income as well.
There are also other platforms where you can sell your courses like Udemy. But generating them on your website might also work to promote not just your courses but also your website as well. This will make get more passive income.
Sponsored Post on Social Media
Social media like Facebook, Twitter, and especially Instagram are the trends of today’s generation. And the amazing thing about this is you can also use them to promote brands that pay for every number or reach that you achieve per post.
When you reach a certain amount of followers and considered yourself as an influencer, then a lot of brands will come to you to help them promote their brands.
Other Sources for Passive Income
The list goes on and on for the ways to get passive income. As new trends and technologies emerge every day, a new possibility takes place as well. Take a look at these possibilities to earn money online:
- Stock Investment
- Make an App
- Rental Properties
- YouTube Channel
- Bring Clients to Businesses
- Sell Things, artworks, etc.
Passive income is such a good thing to achieve. Having more while doing less is the main concept of passive income. But that is just the tip of the iceberg. The bigger picture is still the time, money, and effort you do to build your brand and generate a non-stop passive income that will make you rich.
If you ever dreamed of just sitting around while waiting for your money to just slides into your bank account every now and then, you should really consider making a great passive income. And we hope this article helps you think of the best ways to do that.