How can you make money online with passive income? What does it take to get started? And why does it matter? We’ll answer all of these questions and more in this guide to make money online with passive income, one of the most efficient ways to earn a living or even just make some extra cash on the side. You’ll learn how to find passive income streams, what kind of work they’ll require, and how much time they’ll take up in your life.
1) Start your own business
While YouTube is a great way to make money, it’s not exactly passive income. But you can start your own affiliate marketing business right now. Then, you’ll have full control over your work schedule and can structure things so that you only work when you want to. Once it gets rolling, it’s more than possible to earn multiple streams of income from affiliate programs—one of my sites earns about $400/month on autopilot for example.
2) Create an information product
Digital products, or information products, are an increasingly popular way to make money online. It’s easy to set up a digital product and sell it through a landing page, and there are dozens of platforms on which you can sell your product. Just do your research before creating an information product! There are many ways to create digital products, but here is one quick method: Content NINJA. If you want more ideas for creating digital products, check out Content NINJA.
3) Sell products on Amazon
The easiest way to make money online with passive income is by selling a product on Amazon. You can either become an affiliate and let them sell it for you or you can use their Fulfillment by Amazon service, where they store your inventory and ship it out when someone buys. It’s $40 per month plus other fees, but again, super easy if you have items that are nice enough to sell and don’t want any more work.
4) Get paid for helping people solve problems
There are several ways to make money online—but one of our favorites is affiliate marketing. With affiliate marketing, you sign up for free programs and then refer other people to those programs who may have questions or need help using a specific product or service. The business or company that owns that product pays you a commission if someone signs up using your affiliate link. What’s not to love?
5) Use social media to sell
YouTube is a great channel for monetizing your skills. If you can demonstrate expertise in a given area, or even just curate informative videos of interest to your specific target audience, companies will pay you either as an affiliate marketer (typically through CPA marketing) or they’ll pay you outright. And it’s easier than ever before. Just hit upload video and then embedding that video on social media, and include hashtags like #marketing #socialmedia, etc…
6) Do freelance work
Another way of creating passive income is by doing freelance work on sites like Upwork, Fiverr and Freelancer. The idea behind these types of services is that you can set your own hours and make money from home while doing other things. However, you should keep in mind that writing is a skill that takes time to learn and if you want to make decent money writing, you should have a portfolio.
7) Invest in cryptocurrencies
Cryptocurrencies have skyrocketed in popularity in recent years, and their prices have risen right along with them. At one point in 2017, Bitcoin’s value more than doubled in just a few months. But it isn’t just Bitcoins that can net you serious cash—other cryptocurrencies like Ethereum, Ripple and Litecoin can also be great investment opportunities. Before buying any cryptocurrency, understand what your money is worth and do your research on each coin before investing.