Passive Income Ideas – Make Money While You Sleep
Are you contemplating to quit your traditional 9 to 5 job? Does the idea of passive income sound impressive to you as well? Looking for a suggestion about where to start? If it’s a yes from you then we have all the answers that can gratify your needs. Though passive income ideas are in abundance it demands some work, money, and maintenance from your end. When you plant passive income seeds to suit your climate (personal skills and preferences), you can surely bring in quite a harvest. Before getting to know the effective passive income ideas, let’s understand what this term is all about.
What is Passive Income?
Passive income is where you worked once but you get paid over and over again for the same work. There can be multiple income streams that are passive. Some of the most amazing passive income streams are-
Sell an eBook Online
If you have a knack for writing, then creating an eBook can be great cash income idea. After the initial work of creating the book is done, selling that book helps you produce some serious residual income. Once your book is available on any online E-commerce website like Amazon, you could receive a check every month for absolutely doing nothing. This is one of the most wonderful passive income ideas. Hard work has already been done, now it is the time to have a payoff for a lifetime. But you need to remember one thing – you need to spend some time and money to develop an effective marketing plan. The more time you spend marketing your book, the more money you will make.
Create a Course of Udemy
One of the best passive income ideas can be creating an online course for Udemy. Udemy is an online learning platform which is dedicated to Professionals. Create a value-packed online course satisfying the Udemy course quality checklist. The course can be eBooks, videos and emails with valuable information that help students in their career, hobbies, and life. Take help of a platform “Teachable” to create a course. Customers sign up to purchase the course and the automated system will email them everything they need to access the material. Decide the price of the course and you will get money for the price of course that you created. Grab one of the guaranteed passive income opportunities and make money while you sleep.
Selling Stock Photos
Isn’t it wonderful when your hobby starts giving you money? You will be amazed to know that you can make money taking pictures. And you do not need a professional camera to do that. Your own smartphone with a camera can convert your photos into a passive income source. There are many photography websites such as Shutterstock gives you a platform to sell your photos. Generating passive income through this method can be a great residual income opportunity. A single photo can be sold again and again so just imagine you might be having a shower of money. Create a photo portfolio, upload images and simply collect a check each month for the royalties you receive on your photos. Passive income ideas can be many but you need to look for any unforeseen costs or roadblocks.
Create an App
One of the guaranteed passive income ideas is creating an app. If you possess some great technical skills and have unique ideas for mobile apps, then your stars are really bright. Imagine every app on your phone is making money for somebody, somewhere. Creating an app is just like writing a book. Everyone wants to do it but nobody wants to put in the hard work that requires. Do not underestimate the idea you have and keep up the good work, you will surely come in the list of people making thousands of dollars per month with their mobile apps.
If you own a website then this one is really cool and easy. Affiliate marketing is one of the most amazing passive income ideas. When people click on the affiliate links on your site, you will get a commission. You are just supposed to purchase a product or service. Your wish to generate money through content creation can be granted by affiliate marketing and advertising. You need to establish yourself with some enjoyable content and sizable following to get approved from affiliate networks, soon the things will start snowballing. Blogging, vlogging or releasing audio podcasts, there can be many ways to be a part of affiliate marketing.
One of the best supplemental passive income ideas is to design T-Shirts and other products even with no prior design skills. There are umpteen websites which allow you to upload your witty design ideas and then create products like laptop covers, phone covers, t-shirts, coffee mugs and more. Customers visit the website and check out your products. If they like any f your products, the website will pay you a portion of the profits or commission. You do not have to worry about production or shipping. Everything is handled by them. Your creative ideas will pay you what you deserve.
BUY & Sell Domain Names
Buying and selling domain names is no more an amateurish trick to earn money. Some are making a career out of it and some are using it as a source of passive income. For this, first of all, you need to find out or create a list of unique domain names including popular term. Then buy an internet domain before someone else does. Godaddy.com is the most trusted site when buying domains. After the purchase, look for good websites where you can go for domain name auction or sell the domain name at a predefined rate. Out of all part-time income ideas, this one can pay you good bucks if you get lucky.
Blogs can be one of the unbelievable passive income businesses. If you are searching for an extremely cheap yet highly scalable way to earn money, consider blogging. When you keep on posting blogs actively, your site will start bringing traffic to your blog. But creating good content is not enough to make money out of it. The catch is -it takes time to grow. You need to be patient and put in your efforts to market your blog as much as possible.
Sell Products on Amazon
Do you shop on Amazon? Every one of us does. Amazon provides wonderful opportunities for people who want to sell their products online and even they can help in shipping the products for you. Setting up an e-commerce business with your online store involves so much work. But once it is established, you need to make sure you deliver quality products at great prices and take care of customer satisfaction. Choose any of these passive income ideas and earn money being at home.
Rent Your Car
How great it sounds when you get money for driving your car and not have to pick any passengers? You can rent the car to put advertisements on your car window and earn lots of money by just driving your car around town. Wrapify is an ultimate platform that can help you make passive income by wrapping your car with an advertisement. This is one of the most awesome passive income ideas where you don’t have to work a day.
Cash Back Earning with Rewards Shopping Sites
Sign up with a special rewards shopping site and get paid every time you shop at certain online retailers. To fetch these cash backs, you just need to download the site’s browser extension and get a notification whenever you are eligible for cash back. Shop as usual and earn a nice cash bonus in the process.
Create YouTube Videos
Videos are catchy, appealing and have everything to get people’s attention. Then why not to make some. Ads appear on the videos and those ads let you earn money when people watch your videos. The key to becoming successful with YouTube is creating a great number of subscribers and followers. Few videos will not make it. Instead be prepared to make at least 100 videos to receive hefty cheques. This passive income idea is not only limited to Youtube, there are many Youtube alternatives to upload your videos and earn handsome income.
Invest in Vending machine Business
A successful vending machine can let you earn really good. The main thing to consider is the right place to install your vending machine. Smaller brick or mortar businesses should be contacted. Contact companies who have a good strength of employees and see if they need vending machines. You should also ask employees to tell their preferences what they want to have in the vending machine and stock accordingly.
Buy an Existing Online Business
The best part of an online business is that they allow you to work from anywhere. Starting from scratch will take a lot of efforts and time. Should not you consider buying an already settled online business? There are so many websites which are available on sale in varying price range.
As mentioned above, there are so many passive income ideas that can help you earn while you rest. We hope, we offered you some great options to choose from. Implement any of these passive income strategies to start working less and earning more.