In this post, I’ll show you 5 ways how to make a passive income.
Passive income isn’t some fairy tale it’s a very real thing and there are more than enough
people enjoying the fruits of it. There is one thing you should know about creating a passive income.
When I talk about a passive income I’m not talking about pushing a button and suddenly
money starts appearing on your bank account. They are passive in the way that you’re not
trading in hours for money.
The methods mentioned here require some time and hard work, but once you got them up
and running you’ll be very happy you invested time into it. Here are the 5 ways how to make
a passive income.
1. Kindle ebooks
Amazon has made it possible for everyone to write ebooks and sell them. There’s no need for you
to find a publishing company, there’s no need for you to be an established author heck you don’t even
have to write your own books.
You just have to sign up for a free KDP (Kindle Direct Publishing) account. There are two types of
royalties you can receive for your books. If you book is in the price range of $2.99 – $9.99 you’ll get 70%
of what the book brings up. If the anything outside of this range you’ll get 35%.
I know what you’re thinking 70% of a $9.99 book doesn’t sound like much, but what if I told you, people,
right now are making 100+ books a year – without writing a single word. They just hire people to write
the books for them.
Before cashing in you’ll first have to:
- Find a Niche (theme) for your book.
- Find out if your Nich is profitable
- Aim for high ranking on Kindle through SEO
- Write your book or hire someone to write it for you.
- Publish the book.
2. Affiliate Marketing
In affiliate marketing, you refer someone to a product and when they buy that product you’ll
receive a percentage of the money.
No need to create your own product which saves you time and there no need for a large
financial investment because of that.
You just need to find some websites that work with affiliates. Type into google affiliate + programs
and you’ll find a ton of them. A lot of companies will pay up to 40% of what the product
was sold for and we aren’t talking about products that are $10, but products that
sometimes even cost a $1000+.
To get the most out of affiliate marketing you’ll have to build an audience through content marketing
with the help of YouTube, Facebook, Instagram etc. You could also get help from websites that offer guidance
from start to finish like wealthy affiliate. Afterward, refer your audience to buy products that you’re an affiliate
from and start cashing in.
My advice would be to look for affiliate products that have monthly subscriptions so that every
month you get a commission.
If you have a website, blog YouTube or something in that direction it possible
to make use of Adsense. Basically depending on what kind of site you have google will
show theme specific ads on your site. For example let’s say you have a website, blog about
the NBA. Google might show ads about basketball shoes that people can buy.
Instead of getting paid by purchasing a product like in affiliate marketing you’ll get paid per
click on the ad. Before you do this you have to get approved by google which takes somewhere
between 24 -48 hours after applying.
To make use of Adsense you’ll need:
- a good looking site with valuable content
- Apply for Google Adsense online
- Provide them with the information they need to know about your site
After this they’ll provide you with an AdSense code you can put on websites and start
to earn money.
4. Online courses
The term is pretty self-explanatory. You create a course in which you teach something and people
can buy it. It involves some investment in the beginning stage. You have to learn how to create a course,
create content and build and audience to promote it to. After that, there’s not a lot you have to do ( maybe
some updates and customer service).
If you have the experience it’s pretty easy to make one if not I’d suggest you take a look into programs that will
guide you through the process.
If you’re into film, music or photography you’re going to love this.
There are websites where you can submit your content and every time someone buys your
content from one of those websites you’ll receive a part of the money. If you want to take this
to the next level you can even create a website that has this kind of stock content.
As you can see creating a passive income isn’t some fairy tale or something only for the “chosen”
people. If you start right now it’s highly possible that within a year or two you can receive an amount
that gives you the chance to quit your job, spend more time with your loved ones, travel the world
and a lot of other things.
Everybody can do it if they are serious about it and put in the work!
If you have any questions feel free to post a comment and I would love some feedback
on my blogs, if you have some.
That’s all for now!
Keep Dreaming, Keep Hustling, Keep Winning!