Passive income ideas are the secret to making some extra money without all the hard work, right? Well, it can be done, but passive income ideas aren’t quite as simple as they seem.
Great Passive income Ideas
The key to passive income ideas is to find one that works well with your skillset and personality type—you don’t want to invest your time into something that you hate doing just to get some spare cash! Here are five great passive income ideas for anyone looking to make some extra money.
1) Affiliate Marketing
Affiliate marketing is a type of marketing where people receive commission on referrals they generate. There are all sorts of different affiliate programs out there, but the most common types include product affiliates and content affiliates.
To get started as an affiliate marketer, you first need to sign up with one or more affiliate networks that have connections with merchants. Some of the best-known examples are Amazon Associates, ShareASale, ClickBank and Commission Junction. For each sale you bring in as an affiliate marketer, you'll typically receive a small commission for it.
These commissions can range from 5% up to 75%, depending on the specific products or services being offered by the program partner that you're promoting.
With any type of affiliate marketing opportunity, you'll want to ensure that your prospects are aware of the return policy for any products purchased through your links so they don't get scammed into making purchases and then regretting them later when their credit card statement arrives.
2) Sell Products on Amazon
If you have products of your own or can find something that is in high demand, then selling them on Amazon is a good way of making quick cash.
It's one of the easiest ways to start off with passive income. Plus, if you get an FBA (Fulfillment by Amazon) account, your products will be delivered right to Amazon's warehouse and they'll handle the rest!
The only downside is that it can take a while before you're making enough money where you can live comfortably, but it definitely pays off. If you want to learn more about how this works, check out our free video course!
3) Create an eBook
These are examples of ebooks-
Passive Income Ideas For Anyone Looking To Make Some Extra Money
-A Beginner's Guide to Crowdfunding.pdf
-How Crowdfunding Will Change Your Life.pdf
-The Ultimate Bootstrapping Guide.pdf -How to Build a Website that Converts.pdf
-Amazon Kindle Publishing: How To Publish Your eBook On Amazon Kindle And Earn Royalties.pdf -Start an Etsy Store: Selling on Etsy 101.pdf
-Build and Sell Your Own Products Online With Shopify or Other eCommerce Platforms:
4) Create a Website
No matter what you are interested in, the internet can be a place where you find more like-minded people. When it comes to starting your own website, there are a variety of platforms that can help you monetize what you love.
If a blog is your thing, WordPress is an easy platform to get started with. YouTube is also another platform that has created success stories from its influencers that earn millions through AdSense and YouTube Red.
Even Patreon helps creators monetize their content by allowing them to run crowdfunding campaigns of various sizes or charge one time donations for access to exclusive content.
Speaking of monetizing your passion, it’s possible to earn some serious cash from affiliate marketing if you’re not careful.
But first, we should define exactly what affiliate marketing is before we dive into how much it pays. Affiliate marketing works by paying other people for referrals as opposed to paying employees or creating new customers on your own dime.
It allows you to harness other people’s interest and create paid opportunities for them based on what they already enjoy doing online. You could offer reviews about how well certain products work under specific conditions or compare different products against each other so customers can pick which one will work best for them based on price range, features offered and more.
5) Create Video Courses
Why not create video courses? Video courses are one of the best ways to earn passive income. You can create your own or resell someone else's and teach what you know.
If you are afraid of creating your own content, don't worry. You can simply record a replay of the lessons in your course so that they come across as more personal and they will have a life span because there is always someone who needs help with this topic.
Plus, you can also use live-streaming platforms like Facebook Live or YouTube Live where potential students/viewers see when you go live as long as they subscribe beforehand. It may not be everyone's idea of 'fun', but it sure does work well!
The Bottom Line
1. Share other people's pictures on Instagram with a built-in advertisement about their work
2. Become a virtual assistant
3. Sell your hobbies online (crochet crafts, handcrafted furniture, web design services)
4. Create and sell your own t-shirts or other apparel
5. Post the daily discussion questions on your blog with an affiliate link that you can earn commission from. 6. Rent out items that you don't use anymore on sites like Craigslist or eBay .
A lot of people are looking for really good deals because they're strapped for cash these days. You could also sign up with Amazon Mechanical Turk to complete small tasks in exchange for a very small payment.
It's not easy to find a job nowadays so you may as well think outside the box and consider what creative ways you can generate some passive income!