How to Make Passive Income in Your Spare Time
Updated: May 21, 2022
It can be difficult to figure out how to make passive income, but fortunately, it’s not impossible. There are plenty of ways to earn money without actively working towards that goal, and these strategies can help you get started earning extra cash right away!
There are numerous ways to earn passive income, and by the end of this article, you’ll know how to generate passive income from all of them.
We’ll start with one of the most common ideas before moving on to some more unique methods later in the article.
Tips on How to Make Passive Income While Working Full-Time
You’ve probably heard about passive income. It’s considered a staple of a financially secure life, but what is it and how can you get some?
Passive income is just that – an income received on a regular basis with little or no effort required by the person receiving it.
It doesn’t mean you never have to work again, but it does mean you can work less as your business or job brings in money for you.
There are several different types of passive income, and here are some tips on how to make it happen:
Ways I Use My Personal Brand for Passive Income
Branding yourself can be a powerful step towards making passive income, or even create multiple streams of income for yourself.
If you have time and love to share your unique skills with others, you can make extra money without ever leaving your home.
When creating your brand and image on social media, you should be sure to include all of these five aspects:
Who You Are,
What You Do,
Where You Live,
How Others Can Find You
and How Will They Know It’s Really You?
Try adding a personal touch (like a coffee mug) when posting pictures so followers will know it’s really you; whatever feels natural is going to work best for you.
The Next Step - Creating a Webinar About Affiliate Marketing
Now that you have a general idea of how affiliate marketing works, you can create a webinar (webinars are usually free to watch and attendees pay a fee if they like what they see) or an eBook around affiliate marketing.
You'll want to focus on setting up your own website and figuring out your own products. If there's already demand for these topics, then it will be much easier for you—all you'll need is to provide information people don't already have.
There's plenty of information on Google about creating webinars, but they often revolve around business-to-business concepts rather than advice geared toward individual users.
When writing your content, stick with practical details people can easily understand—you want readers coming away from it thinking Ah!
4 Additional Tips on Making Money Online with Affiliate Marketing
The internet has made it easier than ever for entrepreneurs and business owners to launch new projects, even if you only have a few dollars in your bank account.
There are numerous ways for beginners with no formal business training or background (like me!) to earn a good income online.
They just take time and effort—so don’t quit your day job yet! The best way to start making money online as a beginner is by taking advantage of affiliate marketing.
Affiliate marketing is when an entrepreneur markets other people’s products on their own website or social media pages—and gets paid commission every time someone buys those products through their link.
Some Businesses You Can Run from Home
There are many different types of businesses you can run from home and they each have their own pros and cons.
For example, if you are a web designer or work online, it’s likely that you will have your own office at home.
You may also be able to get an office space cheaply or rent an office using a co-working space.
If you want to open up your own store or retail outlet, then you can simply hire someone to look after things when you’re not around.
Running a business is all about finding something that works for you and makes sense with your schedule – not everything will necessarily work for everyone.
Side Hustles You Can Start Today for Extra Cash or a New Career Path
Everyone wants a side hustle—and with good reason. A second source of income can help smooth out bumps in your budget, cover expenses during lean months, or save for emergencies. But what kind of side hustle is right for you?
It all depends on your interests, skills, and availability. Check out our seven suggestions below and see if any jump out as a good fit.
Once you've figured that out, check out these ideas on how to make money from home!
Free Resources for Creating an Online Course or Webinar
There are several places where you can create your own course or webinar, including Udemy and Teachable.
Before you begin building your course, make sure it's properly set up with a high-quality cover page and a clear description of what people will learn.
If you want extra help with building an audience before making money, check out Leslie Samuel's The New Rules of Work Podcast.
Listen to three or four episodes (or more!) on how freelancers can attract clients, work efficiently and build profitable businesses for themselves.
Apps That Can Help You Create an Online Course or Webinar
Sometimes you need more than a new app or software program to make passive income. Sometimes, you just need some fresh ideas.
There are plenty of different ways to generate passive income streams, whether it's with an existing piece of real estate or by creating your own software and selling it online.
The best way is often through creativity, innovation and hustle—and that takes some time.
That's why many entrepreneurs turn to apps as a means of making passive income (also known as side-hustles). Here are eight apps that can help you launch your very own side-hustle business