A question that I read again and again is: “How to earn a passive income online?“ I have answered this question several times, but never dealt with the details. In this article I would like to explain to you the different ways in which you can achieve a passive income online.
Achieving passive income does not mean earning money without working. Rather, it’s about building something that you can use to earn money later without doing much for it. But first, you have to work hard for it.
How hard you have to work depends on your activity. But be aware that without work, no money comes in, not even passively.
As with many things, the benefit is in the long term. A passive income is a great way to enjoy life and the things you love. Be it spending more time with family and friends or enjoying some weeks on a beach holiday. It is a concrete form of freedom and financial independence.
Think carefully about spending months building something long-lasting that will benefit you all your life, or spend hours searching online to make quick money, and wasting your precious time without taking advantage of your life’s changes.
It is often difficult to know where to start. Which project should I start to realize passive income? There are hundreds of solutions. In this article, I’ll give you a few of them.
What Is Passive Income?
Before I write down various ways you can generate a passive income, I want to insist on what a passive income is.
A passive income is simply an income that you earn if you do nothing or almost nothing.You don’t have to work every day to passively make money. Even if you sleep, you can earn money.
But as I wrote above to generate a passive income, you have to work hard before that. Otherwise, you will never make passive money.
How Much Can I Earn?
If you read stories about passive income, that you can earn $5,000 per week or monthly within 2 weeks with just a blog or an ebook, don’t believe them.
There are many people who can enjoy their life with passive income. But you as a beginner will often only earn small contributions from different sources.
Every well-known marketer started small and made it. So you can do it also with motivation and your will.
It is important that you choose sources of income that are of interest to you. Just try it out. Choose some that require a lot of work, such as creating a blog.
And others who don’t require much work, such as buying shares that pay a dividend.
Concentrate yourself on these things. Take your time and effort. We all read stories in blogs where people earn thousands of dollars a month, but we don’t know how much time and effort has been invested in this blog before it was able to achieve such results.
Either you will discover a real passion, or you will earn more money than expected, or you will not earn any money at all. Just take the time and effort to make your dreams come true.
Many bloggers earn thousands of dollars each month, but do you know how much time and effort has been invested in this blog before it generates money?
This can only tell you the person in question. Believe me, if I tell you it was at least hundreds of hours. Unfortunately nobody will be able to tell you how much you will earn. It is up to you alone to put in the work that is needed.
Passive Income VS Active Income
There are differences between passive and active income. An active income can be understood as a salary, where you earn money for a job that you do.
The problem with an active income is that the money depends on your ability. You have to work more and more to earn more money.
Unfortunately, you will face a blockage with such an income:The ability to work more, even if you want it.
With passive income, you will only have to work hard once and earn money for the rest of your life. The more years that pass, the more you earn and the less you will have to work.
1. Run Your Dropshipping Business
The e-commerce market is booming. The system of dropshipping works quite simply. You create a website with Shopify or Woocommerce, where you offer products of specific manufacturers and suppliers for sale. A popular website for dropshipping is Aliexpress.
After a visitor from your website makes an order, you will send this order to the relevant supplier. The supplier sends the order directly to your customer.
This means you will make money without ever having to manage a stock. You collect the profit between the price you have specified and the price of the manufacturer.
If you plan to build your own dropshipping business, I recommend the Udemy platform, there are good dropshipping courses for little money.
2. Affiliate Marketing
With affiliate marketing, you earn a commission on advertising a product that you don’t own. For most products there are affiliate programs where you can register.
After registering, you will receive a special link for the selected product that you want to promote. If someone buys the product through your special link, you will receive a commission.
It’s easy to create a WordPress blog. Read my article here. With your blog, you will be able to promote your products. In order for your blog to be found, you must use special keywords that readers use when searching for this product.
Of course, you can do Affiliate Marketing without a blog. There are numerous options, such as YouTube, email lists or social networks.
I’ve been doing affiliate marketing for a while because I don’t need my own product. I even don’t have to give any support . That’s what the manufacturer of the product will do.
Your only job is to send traffic to the product. If you are interested in affiliate marketing, I recommend the following links. That’s exactly the way I went, to learn everything about it.
3. Start Your Own Blog
It can be a passion to own your own blog. Many people want to make money from it, at least to cover the associated costs that arise. It is possible to generate passive income.
A blog serves to provide your readers with added value and quality content. Once your website generates traffic, you can monetize it with a variety of options:
- Affiliate Links
- Google Adsense
Everyone can start a website. You don’t have to be a genius. It’s just about starting a blog on a specific topic that interests you and helps other readers to solve a problem.
Like my blog here. I’m writing this article to help you find a way to get a passive income.
To start your blog you need a domain name, a hosting and a Content Management System (CMS).
I recommend WordPress, this is the CMS I use for this blog. If you have no money for hosting and domain name, then I recommend you this platform here. Since you can create 2 websites for free with hosting and domain name.
4. Write And Sell An E-book
If you have a passion for writing, then it would be useful to write an e-book. Although the market has been saturated lately, books that teach people in a technical field are still selling very well. It’s a great source of passive income, but it takes a lot of effort to generate money.
The Kindle program from Amazon or iTunes from Apple allows you to sell your e-books online. If you want to sell an e-book, you dom’t need to invest a lot of money.
It will take you a long time to write and market your e-books.
This passive income option gives you the opportunity to start making money much faster than starting a blog. But it requires skills and knowledge with great responsiveness in the research of your chosen topic.
5. Create A Smartphone App
Programming an app is a good source of revenue, although apps require a significant amount of time to be programmed.
If you have no knowledge of programming, you need to find someone to help you with the creation. The most important thing is that you come up with an idea that can be sold well.
Market research and analysis are very important to find the right idea for your app.
By programming an app, you can reach billions of people and users around the world. The best smartphone apps are based on free versions with in-app purchases.
6. Rent A Room In Your Home
Do you have a room in your house that you never use? You could rent it to someone looking for a short-term lease. Thousands of people use Airbnb to find accommodation.
You can ask a chambermaid to clean and prepare the room after a guess. Hiring a real estate management company saves you the work and makes it to a real passive income.
7. Create An Online Course
Creating an online course is a great source of passive income. Create a comprehensive online course that helps others solve a problem or respond to a need.
The course can contain videos, e-books or emails with relevant information. Customers sign up to buy the course and your system automatically sends them everything they need to access it.
You will receive money for the price of the course you have created. A platform like Udemy can do all the hard work for you as soon as you put your course online.
8. Create YouTube Videos
Every day people make money online. Whenever someone watches a video of you, you could earn money through ads or affiliate marketing. To be successful with YouTube, it is important to have enough subscribers and viewers.
To make money with videos you need patience, because it can take some time. For every video you upload on YouTube, you can generate passive income indefinitely.
Unfortunately, it is not enough to just upload 3 – 4 videos. To really passively generate money with YouTube, you have to upload videos every day.
9. Automotive Advertising
Your blog is not the only place where you can advertise. There are countless companies willing to pay to use your car as a mobile billboard.
Your car will be covered with a removable full-body vinyl sticker. This will allow you to earn a few hundred dollars a month.
Websites like Carvertise are ready to rent your car as advertising space for different companies. In order to participate, your car must be in good condition, you need a valid driver’s license and valid insurance.
You have more chances to make money with Carvertise if you’re out and about in a high-traffic area, covering a certain number of miles per day.