What If tell you that you can make money while you sleep? Yup, it’s true! It’s absolutely possible to make money passively while you’re traveling or sleeping.
With the Internet, it is now possible to earn a passive income online. No longer do you have to depend on investments, stocks, properties, to generate passive income.
There are many different ways to make passive income online and it’s important that you at least know what the options are out there. Here are 7 awesome passive income ideas for beginners.
So What Is Passive Income?
Passive income is money that gets made when you aren’t doing anything at all. However, that doesn’t mean it’s money that requires no work or effort. In fact, it’s your active work that pays you over and over again in the future.
For example, my blog doesn’t generate money right away. I don’t get paid right away for each blog post I write. It only works that way if you’re a freelancer for someone else.
My blog post generates traffic over time and it has helped generate income passively even when I’m on vacation or taking a quick nap at home.
Sorry, but there’s no way to make money online without doing anything. If someone tells you that it’s possible, then you should be careful because he or she is probably attempting to scam you.
Unlike a typical 9 to 5 job where you have to be present and working to generate money. Making money online can generate money passively even when you’re not actually working.
7 Awesome Passive Income Ideas For Beginners
Keep in mind, none of these methods are designed to make you money quickly. Nor is it as simple as setting up a system and letting it automate your income. With that being said, let’s continue!
#1. Affiliate Marketing
I’m sure you could’ve guessed that the first method is affiliate marketing. After all, this is Smart Affiliate Hub. Well, there’s a reason behind it.
First of all, you don’t have to carry your own products or stock inventory because your job as an affiliate marketer is to act as the bridge between customer and seller.
You’ll get a commission if you can help the seller generate a sale. It’s that simple!
One of the largest affiliate programs is known as the Amazon Associates Program. There you can link to any product(s) on Amazon to earn commissions for. Before you sign up, you should check out their pay structure.
This is a very popular method since you don’t have to create a product or deal with customer service. You’ll do great as long as you provide value and optimize your content for both search engines and readers.
Start your affiliate marketing venture by downloading my Ultimate Passive Income Model ebook.
#2. Become A YouTuber
Similar to blogging and affiliate marketing, you can make money by becoming a YouTuber. Here are YouTube monetization methods that will strike you gold.
You don’t need to be the next Pewdiepie! You can still earn a substantial living as long as you’re able to entertain and provide value to your audience.
The goal is to get as many people to like, watch, subscribe, and share your videos. It’s all part of marketing! With a large enough audience base, opportunities will come knocking on your door.
#3. Sell eBooks
Amazon has made it easy to sell ebooks on their platform. You might not be the best writer in the world, but if you really think about it. People buy from their favorite authors not because their books are better, but because they like the author’s personality and writing style.
Even if you’re not a good writer or you’re not comfortable with writing for yourself. You can always hire a writer and offer to split the profits in half.
You just have to let that person know that you will come up with the ideas and it will help them elevate their success as a writer. Once your book is completed, both you and the writer will now become a published author.
#4. Online Advertisements
For this to work, you’ll need to have a website or a blog. If you haven’t already started, check out my free WordPress installation service.
At first, you won’t see anything substantial because in order to make good money with online advertisements. You’ll also need to have a sizable readership.
On average, every 1,000 impressions on an advertisement equals $1.00. So let’s say you want to earn $1,000.00 per month, you’ll need at least 1,000,000 page views per month.
You won’t need that much because hopefully, you’ll get a few clicks here and there. To learn more about online advertisements, I recommend that you learn more about Google AdSense.
#5. License Your Photos
Photos are a huge part of making money online. So if you’re into photography, it doesn’t hurt to license your photos, so others can use it.
That way, you can earn a little bit of money on the side as well as getting your photos in front of more people in the world.
With modern technology, you don’t need a super expensive camera. Even a simple smartphone would do, but obviously the higher the quality, the better.
I recommend starting out with your smartphone and using the money you earned to buy a better camera. It’s all about reinvesting your money to make more money.
#6. Drop Shipping Business
Drop shipping has enabled people to create online stores that sell physical products. You don’t have to get a warehouse to store your products though because you can just contact the manufacturer to make and ship the products to your customers.
All you need is a website of your own with products listed as long as pricing. Once they pay you, you can use that money (hopefully it’s a profit) to buy from the manufacturer.
I remember discovering drop shipping back in 2017 when I was buying fidget spinners from a 3rd party website. I had no idea that they were getting it from places like AliExpress for cheap.
#7. Online Courses
Now I’m not talking about live courses because that’s not passive at all. I’m talking about pre-recorded courses that you can sell over and over again.
In the beginning, it will require a lot of work in creating the courses. But once you’re done, you can focus on getting people to the course.
Maybe even offer a teaser to what your course is about to increase conversion.
Websites like Udemy can host your courses and open your courses up to their already established audience base.
And that concludes all 7 awesome passive income ideas for beginners. I don’t recommend trying everything out at once. Focus on one and stick with it! When you try to do multiple things at once, that means you aren’t giving it your all for each method.
This can backfire and can be a total waste of time. So focus on one thing at a time. Personally, I prefer affiliate marketing because I like doing research and writing about my discoveries.
Hopefully, this was helpful and if you have any additional questions, please leave a comment down below and I will try my best to help you out.
By the way, which method interest you the most?