10 Best Passive Income Streams!
Making money online is trending today. From freelancing from online stores, many people have flocked to the internet to get more money through passive incomes. I’ve known the online industry for a while, and I’ve dialed down internet entrepreneurship down to the best 10 businesses.
The best part about passive incomes is that you can focus on other things, like your loved ones. You don’t have to tie yourself to anything, and you can be your own boss with your own schedules.
There’s a plethora of other benefits, and depending on your self-discipline and performance, you can extend that income far beyond any traditional job.
I’ve spent quite some time venturing into several of these myself, and now I’ll present them to you.
Table Of Contents
Affiliate product promotion
You can make a living off promoting products from others in your media channels: YouTube, Facebook, Instagram, blogs, etc.
It may take some time to learn your way, but you’ll essentially be a middleman on the internet. Any potential clients will click on the affiliate links on your pages, and you’ll earn a commission when they purchase something.
If you’re interested in learning the tropes, the best course out there is Savage Affiliates. You can start with the Amazon Affiliate Programme, but there are dozens of great alternatives like JVZoo and Clickbank.
Youtube video creation
It’s a long way, but having an influential YouTube channel can open many doors both inside and outside the platform.
A good goal is to have 100,000 subscribers, which would attract the attention of companies; having a fanbase means you can be a good advertiser for them.
The best example is PewDiePie, with an estimated $15,000,000 made back in 2016, and he just played videogames.
You can create your videos or pay someone else to do it. If you’re interested, make sure to check out UtubeCash for your lessons.
Creating and selling on Etsy
Etsy is like eBay but for vintage, handmade, and unique products. However, they also have digital products.
You can create colouring pages, artwork, stamps, and many other ditigised products and offer them there. Once done, you can sell them.
It’s not difficult, and all you need is to upload your quality work and let them sell by themselves. It’s a great deal for designers and people with art skills.
Sales funnel building
Sales funnels are everywhere regarding digital marketing. A sales funnels conditions each visitor so that they take the actions you need (convert) on your website. ClickFunnels is a good example. It allows users to create sales funnels for different websites.
You can use it for many types of funnels:
- Lead funnels let you acquire email contacts.
- Sales page funnels are for selling more.
- Webinar and Membership funnels let you attract followers for your services and classes.
There are many types of funnels, and ClickFunnels offers a 2-week trial. You can use it to familiarise yourself with the concepts and the platform. Instapage is another option if you don’t like it or can’t afford it.
Smartphone app creation
Developing phone apps is easier than you think; all you need is an idea that can improve people’s lives. If you have money to invest, you can even hire someone else to develop it for you!
You don’t need to be scare. There’s even a fart app that makes almost $10,000 daily for his developer, Joel Comm. Anything goes, so don’t be afraid to try it.
You can also use Mobile App Builder, a service that can create your app in hours.
Dropshipping is what Amazon does. You need to create an online store and contact suppliers. Once you list their products on your store, your visitors will purchase, and your platform forwards the order to the supplier.
You don’t need to take care about shipping or keeping an inventory. Your supplier handles that, and all you need to do is list their products and keep the difference between your price and theirs.
The most popular platform is Shopify, and there are thousands of courses to start. Just make sure to read reviews and find the best one.
Selling photos online
If you’re a good photography, then there are many sites that let you focus on a niche and build an audience. Shutterstock is a great example.
You’ll start small, but you can make up to $10,000 in lifetime earnings just from selling photos. As your images get more downloads, your rates will increase.
You just need a good camera (even your cellphone’s can work), a PayPal account, and a good niche.
Reselling services online
It’s like dropshipping but with services instead of physical products. You need to search companies needing SEO, web design, virtual assistants, and that type of services. Your objective is to sell a pitch to them and then outsource it when they accept.
You can find good value at low prices by looking around Upwork or Freelancer. Make sure to ask for samples and proof of their quality. India and the Philipines are great places to find labour.
Kindle book writing
You publish on Amazon any books you write and sell them as eBooks for another good passive income.
It may take some time to learn how to do it well, but it’s a great income source once you publish your book. You can write about anything you think people may enjoy!
You don’t even need to write the book for yourself. There are ghostwriting services on Upwork, Fiverr, and similar sites; you can hire them and publish the book under your name.
Having a blog
Blogs are a common passive income source today. You’ll need dedication and patience for it to grow, but you can set up your blog easily. You need to have a list of topics you can write about, and upload your work until you have a loyal following.
As you improve your work and engage with your readers, your blog will grow like a YouTube channel. You can check out travel blogs like GoatsOnTheRoad to see examples of money-making blogs.
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