Is it actually possible to make money while you “sleep”? The answer is – Yes! Do you really need to work that 40 hours per week, to make that positive income is probably a question you asked yourself many times? You have to know that in the very beginning you have to use a lot of brainpower to concentrate and to set up everything, you will probably make mistakes, but after the several mounts journey, you will succeed. I’m going to share with you a few passive income ideas, which can really pay-off!
1 - CREATE AN E-BOOK
If you are someone who likes writing but doesn’t want to deal with all technical headaches that can come with blogging and publishing, consider that publishing your own eBooks are often much shorter than normal books, which put less of a burden on you to produce a masterpiece! There is something even better – how cost-effective this method of making passive income can be. The only thing you need is a computer with internet access and your own writing skills. After you have this, you only need that word document ready, and cover image. You can insource all of the writing, editing and graphics yourself, but if you need professional help, that can be very affordable (starting around $50). If you want to start e-book business, probably the easiest platform to post it is Amazon KDP.
2 - SELL AN ONLINE COURSE
Information is the most valuable asset in the 21st century and one of the best ways to take advantage of the information you know are – selling them! Start selling digital products, like online courses and make money out of your knowledge. Now you probably think that you don’t have an idea what the course can be about. Don’t worry about it, the good news is that there is a market for just about any information product online. You can make a course about anything you are good at! From productivity, web development, journaling and etc. Everyone is skilled at multiple areas of which at least one of them can be used to create a value-packed and useful course. Costs of creating an online course are quite low, which is even better for you. For example, if you are selling your course on Udemy you can get 50% of its costs, and if you sell it directly up to 97% is yours!
3 - START A BLOG
Starting a blog can be an amazing way to make passive income while starting up a blog does take a good amount of work upfront, once you have your content online and it starts to gain attraction within the Google search engine. When you reach this, you can make money even if you publish everyday content or not. You will have to research, write, and market your content and it will make you money month after month, and one of the big advantages is a low startup, basically, all you need is the domain and web hosting, which can be very affordable.
4 - START AN AD AGENCY
Think about how many small businesses exist in your town? Because they are not effectively using social media to attract more clients or drive more sales to the business. This is where you should come up with your Ad Agency! One of the best parts of this business is that once you have a client’s advertising campaign set up and running smoothly, there is very little work for you needed. Checking in for few minutes every day it’s relatively “hands-off” business model. After everything is initially set up, it’s a quite passive income business. You can be an agency of one person, or you can choose to expand as soon as you start to serve more clients. There are numerous tutorials on You-tube on how to learn Facebook ads, which are absolutely free and good start for beginners.
5 - CREATE AN ONLINE STORE
Creating a positive income stream is creating an online store. In particular, drop-shipping can be very popular and if you are unfamiliar with how it works is very simple – you create an online store that offers products from certain manufacturers, a person visits your site are orders a product, after that your system sends the order to the specific manufacturer, that manufacturer will send the product directly to the customer at which point you collect the profits! Important for this business is that is no inventory needed.