Money is not everything, but it is the most important thing that we must have in our life. The importance of money in our life is same like the importance of food for our body. As we cannot live without food, similarly we cannot survive for a long time without money. We need food to live as well as money to survive. We can fulfill our basic requirements like food, shelter, clothing etc. if we have a handsome amount of money. Beyond our basic needs, we also need money to achieve our life’s goals and provide a better lifestyle for our family. Therefore, to live a happier life we need an unlimited supply of money.
But, how you can earn such amount of money?
The answer is, generating a steady stream of passive income by leveraging the power of the internet. Earning passive income online is the dream of many. You can earn money while you sleep. Sounds great, isn’t it?
Passive Income Ideas
Well, there are plenty of online passive income ideas that you can start today. But first, let me clarify what actually is passive income?
What is Passive Income?
Passive income is the money that you earn for work that you did once. It is the income that you get paid over and over again without being actively involved. In other words, you receive cash on a regular basis with minimal to no effort to maintain it.
However, it does require a considerable amount of work in the beginning. In fact, every passive income idea needs a massive amount of effort up front. Once you have done this, you can make a steady stream of revenue for you.
Here are 8 best passive income ideas online that you can start today!
1- Start a Blog
One of the best and most popular ways to make passive income online is to start a blog. If you are knowledgeable about something and can write about that, then blogging is the simplest way to make passive income. In order to become successful in this field, you need to choose a niche in which you have an interest and can also write useful content. It is all about providing valuable content to your audience. You can attract visitors by generating great content and they will come back again and again to your blog. Once you have generated enough targeted traffic then you can easily make several passive income streams through your blog.
There are several ways to monetize a blog. If you have an audience, you can sell anything to them. You can market a variety of products, services, and information to them. But one thing you have to keep in mind, always promote quality products to your readers, so that they can get benefit from them. Don’t lose their trust by promoting useless products.
It takes time to generate income from a blog. It needs enough time and energy to establish a high authority blog in the beginning. Once you have done this, you can definitely make a healthy passive income online from blogging.
2- Affiliate Marketing
It is another best passive income idea. Affiliate or referral marketing is promoting other’s people products or services and get a commission for each sale. Most of the successful bloggers and internet marketers use affiliate marketing to make money online. So, It is a great way to earn passive income online.
In order to start affiliate marketing, you need to sign up for affiliate programs. To find affiliate programs you can either contact companies directly or join affiliate networks. There are many affiliate networks with thousands of affiliate programs for almost every niche. If you are a beginner I recommend you to join affiliate networks and find affiliate programs relevant to your niche.
After joining an affiliate network, you have an access to thousands of affiliate programs. Find the program that suits you and applies for that. Once you are approved, they will provide you an affiliate link for that particular program. You can promote that program online and get the commission. There are many ways to promote affiliate offers. If you have blog or website you can put affiliate links there. When somebody clicks on that and purchase the product, you will get a commission. You can also promote these programs on social media channels.
If you really want to make passive income online through affiliate marketing, it is essential to have your own blog or website. Where you can share your thoughts with others and give them advice. This is the best way to build an audience and promote products or services to them.
3- Create Online Store with Dropshipping
Dropshipping is also a fantastic passive income idea. It is a business model in which you don’t need to own and keep the products. You display products from certain manufacturers on your online store. When someone places an order, products are directly shipped to the customer by certain manufacturers. So, you don’t need to worry about any inventory, warehousing, and delivery. Your job is to promote the online store and make sales. It is a cool business that you can run from your home.
Create an online store with dropshipping is very easy. You can consider platform like Shopify to create your online store.
4- Sell Stock Photos
Do you have a passion for photography? If you do, then it is also a nice passive income idea. You can sell your pictures on popular stock photo site like Shutterstock and iStockPhoto. These websites provide you a platform to sell your photos. You get paid each time when one of their clients downloads your photo. Hence, you can earn passive income from a single photo as it can be sold so many times.
There is a huge demand for high-quality pictures on the internet. Every business needs quality images to showcase its brand. So, if you have photography skills and establish yourself as an expert, you can certainly earn passive income while you sleep.
5- Create Your Own YouTube Channel
You can generate passive income online by creating YouTube channel. You can make videos about anything like music, movie reviews, comedy, other tutorials etc. and put them on your YouTube channel. In order to start making money on videos, you need to enable your channel for monetization and connect it to Google AdSense account. Each time when someone watches your video, ads will appear and you will get paid.
The key to becoming successful is creating compelling video and build enough subscribers. Also, promote these videos on other social media channels to get more viewers. It takes a lot of time in the beginning but once you upload videos, you can make online passive income for a very long time.
6- Write an eBook
It is also another best passive income idea. Writing an eBook takes a lot of work upfront but once it is published, it can provide you a healthy stream of revenue for years. If you are an expert in any particular field, why don’t you share your expertise with others in the form of an eBook? So, whatever your knowledge, hobby or passion is, put it together into an eBook and sell it.
The best platform to sell an eBook is Amazon Kindle Direct Publishing. Set your own price and publish your eBook on this platform to reach millions of readers worldwide.
7- Create an Online Course
Online learning is growing and has become extremely popular in recent years. People are using online platforms like Udemy to learn specific skills. If you are qualified in any specific field and have a passion to teach others then it is a fantastic way to make passive income.
You can create an online course on a platform like Udemy in any field whether it is web development, photography, graphic design, accounting, finance, marketing or any other in which you have knowledge and skills. Once your course is live on their marketplace, students can discover your course and you can earn money when someone purchases this course.
8- Create an App
Creating and selling your own mobile app can be very lucrative passive income idea. Almost everybody has a smartphone and people are downloading apps to fulfill their needs. So, there is a huge potential to earn money in this field.
Mobile apps are created to make people’s life easier. There are so many apps and the competition is very high in this field. Therefore, If you can come up with something creative, there is a chance to make a considerable amount of money.
Now the question is how you can create an app? You can hire a freelancer from a site like upwork to build it for you.
I hope you enjoyed the article and will definitely find one way to make passive income for yourself from above ideas. It requires a lot of time and effort to make money online. I suggest you pick up one idea that is suitable for you and stick it for a while. You will certainly achieve your goals.