Best ways to make passive income online.
Before we’ll dive in the best ways to make passive income online, it will be better if we can clear up all the misconceptions.
The majority of people think as the name implies ‘’passive’’ it means you don’t have to do any work to bring income. Anyways, it doesn’t work like that.
All passive income ideas demand either:
- An upfront monetary investment or
- An upfront time investment.
Having said that, here are the view among the best ways to make passive income online you can venture into. I hope you see at least 2 or 3 that will work for you.
Make YouTube videos
The reason why I love creating videos on YouTube is because of the rapid growth of the channel. And the ability to create videos on anything that you like such as music, comedies, tutorials, opinions, courses and many more.
You can go to www.youtube.com to do this.
Once you have 1000 subscribers and 4000 watches you can request for monetization so that you can have ads automatically on your videos. Whenever viewers click on those ads you get paid for it.
But for you to have reasonable earning from ads you need to create very compelling videos and promote them on social media as well and lastly, you need to create as many videos as possible.
Although it might be tedious at the beginning it’s a long-term achievement for YouTube video creators.
This is one of the best ways to make passive income online that I love most. This gives you the opportunity to sell other people’s products.
Although it’s good for people who have blogs and active website.
There are lots of sites out there that accept affiliate marketers. Some are free while some are paid. You can sign up on any of these sites to promote either their products or services on your site. If you eventually make sales your commission will be paid to you.
The commission varies based on each site policy. Some pay 30%, 40%, 50% some even paid 70%.
This is very easy to do, as there are numerous companies who want to make sales and thereby looking for places to sell as much as possible.
You can start affiliate marketing by either contacting the vendor directly or find affiliate offers on various dedicated websites such as JVzoo, ClickBank, WarriorPlus, Expertnaire, etc.
It is also advice able if the products or services you want to promote as an affiliate is the one that you’re interested in or it’s highly relevant to your webs
Upload your photo
if you’re somebody who likes photography, do you know that it’s one of the best ways to make passive income online?
Sites like Shutterstock, iStockphoto, can give you photography platforms to sell your photos.
Although, they may offer a certain percentage or a flat rate on each photo that sold to a client on their site.
By this, since a single photo can be sold over and over again, that’s why it’s said to be among the best ways to make passive income online.
You can imagine, if you have more than one photo and create your photo portfolio, put it on more than one photo platforms, that’s how the activities become completely passive.
Write an eBook
Writing an eBook may be challenging at the beginning, due to research and other necessary works that involved, but once the eBook is created and marketed well it serve as a source of passive income for a very long term.
The good thing about this is that you either sell it on your own website or allow the affiliate marketers to market it for you.
Buy a Blog
Every year thousands of blogs were created and many of them are completely abandoned by their owners due to one reason or the others. So, if you buy a blog that has a reasonable amount of traffic and also a demonstrated cash flow. It could serve as a perfect source of income.
Most blogs make use of Google AdSense which gives revenue streams every month based on the ads that google placed on their site.
And there is a tendency for those blogs to get affiliate programs that are generating additional revenue.
Once you bought the blog all the income sources will be yours.
Usually, when we look at it from a financial perspective, blogs sell for 24 times their monthly income.
For instance, if the site generates $250 per month as an income, you can likely buy it for nothing more than $3000.
When you do the analysis: an investment of $3000 can buy you $1500 cash flow per year.
Another thing is that there is a tendency for you to buy a blog for less than 24 months earning; if the owner is so curious to rush out.
There are thousands of the site that has evergreen contents which will continuously generate cash flow for many years even after the site has gone silent.
If you have the opportunity to buy such a site and then you rejuvenate it with fresh content, you may be able to increase the monthly revenue, which enables you to sell the site at a later date for substantially more than what you pay for it.
Write an eBook and collect royalties
Writing an eBook and sell it to a publisher who will pay you royalties each time the book is sold.
Doing this also has a lot of upfront work. But the moment the book is completed and it gets to a sales page you can be sure of it making passive income.
As you can write an eBook and put it on Amazon, and when people read it you get paid for it.
If the book is popular, the royalties can continue flowing for many years.
The good thing about writing eBooks and collect royalty is that you can write as many books as you want and you collect a royalty on each of those books.
Do you want to know how to write an ebook and collect royalties? go here to learn more about that
Build an app
Because of the fact that almost everybody now has smartphones and people are downloading apps like crazy and for so many good reasons.
It may be an app that keeps track of tasks or the ones that makes peoples lifestyle improved and many more.
Majority of people afraid of apps development probably because of the coding aspect of it.
But it’s a thing you can learn and within a short period you can be professional in it, it depends on your determination.
Or better still you can outsource it by hiring an apps developer to build your app based on your idea. Although it might be expensive you will have your highly professional looking apps.
don’t underestimate the idea of app development. It’s a good one.