Passive Income Ideas
Whether you are an experienced Internet Marketer or a beginner, you can never have too many passive income ideas.
I get a lot of inquiries about how to make passive income, so I decided to post this article to help those who are interested in ways to make passive income.
What is passive income? To put it in simple terms, passive income is money made without having direct involvement or actively working. A great example of online passive income is ad revenue generated from a YouTube video or a website. An example of offline passive income is money made from rental property.
You can have as many passive income streams as you want. You can create passive income online and offline.
The passive income ideas listed below are not in any particle order. I make passive income from several of them, so I know they work. They are legitimate and ethical.
>>>Affiliate Disclaimer: Some of the links/banners on this page are affiliate links. If you click on an affiliate link/banners, you will be taken to the merchant’s website. If you decide to purchase that product or join the website, I stand to make a commission on the sale/lead.
Passive Income Streams
Online Passive Income Sources:
Affiliate Marketing
Affiliate marketing is by far one of my favorite passive income sources. Affiliate marketing involves someone promoting a company’s product or service via an affiliate link assigned to them. If a sale is made through that affiliate link, they can make a commission on the sale. You have no inventory to worry about nor do you have deal with shipping the product.
I have posted several articles about affiliate marketing on my website. The opportunities for unlimited income are massive. You can join as many affiliate programs and networks are you desire.
There is a lot to know and understand about affiliate marketing, so it would be a very good idea to get some training. One of my biggest regrets about working online is that I did not invest much in my training and development. I read article after article and was overloaded with information. It can become overwhelming if you are not careful.
There is no need to spend thousands of dollars on courses, but I recommend getting some training if you are new. Udemy and Wealthy Affiliate are some very good resources that I still use.
Digital Products
Digital products can involve eBooks, website templates, checklists, spreadsheets, presentations using PowerPoint or Open Office, digital wall designs, applications, etc. There are numerous websites that allow you to upload your products to sell. Sellfy, Etsy, Ebay are a few of the popular market places.
Video Ad Revenue
This is another one of my favorite passive income sources. People love to watch videos and if you can make a video about a subject people are interested in, you could monetize that video to generate ad revenue. Sites like YouTube and Daily Motion are great options to start with. YouTube is your best option because of the massive traffic. Daily Motion is another option, however the traffic on that site is far less than what YouTube receives.
Website Ad Revenue
This is another popular passive income source for many websites and blogs. You have apply and be approved, but don’t let that scare you. The first time I applied for Google Adsense, I was denied, so I applied for Media.Net and they approved my website.
There are numerous websites that offer ways to monetize your website or blog, so even if one denies your application, try another one. Google ‘ways to monetize a website’ and you will find several options.
eBooks
eBooks are another passive income source. They can be short reports in a PDF format or they can be eBooks will a hundred pages. The subject matter and length is up to you. The key is being helpful and informative.
You don’t even need to write your own eBook if you don’t want to. You can join PLR (Private Label Rights) sites that sell the rights to resell eBooks. I have some reputable PLR websites listed for you to check out.
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Online Courses
If you are good at teaching, producing online courses is a great passive income opportunity for you to consider. Websites like Udemy and Skillshare allow you to upload your courses and sell them. You will receive a good percentage of the sale. Google ‘sell online courses’ to find lists of good options.
Royalties from Licensing Your Products
You can produce eBooks, music, videos, websites, designs, take photos and sell the licensing rights for people to use for their businesses, social media pages, websites, etc.
T-shirt Designs
T-shirts are an evergreen product, meaning they sell year round. You can make some cool designs or funny phrases, upload your designs to websites like Teespring and make passive income on the sale of your designs. Google ‘sell t-shirt designs’.
>>>Affiliate Disclaimer: Some of the links/banners on this page are affiliate links. If you click on an affiliate link/banners, you will be taken to the merchant’s website. If you decide to purchase that product or join the website, I stand to make a commission on the sale/lead.
Offline Passive Income Sources:
Rental Property
Rental property is a very popular passive income stream for a lot of people. This can be for residential, business or vacation rentals. Of course you will need to have a working knowledge of the legalities involving rental properties, but there are resources available to assist you.
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Investments
Investments are another popular passive income stream. While most people work with an advisor, some people invest on their own. There are countless options; Technology, energy, banking, minerals like gold and silver, etc.
Conclusion:
I intentionally kept the list short. I have read several articles about passive income and they tend to list several that aren’t really passive income related. As I find more viable options, I will update this post. I hope you give some of the passive income ideas I listed a try. If one isn’t a good fit, you can try another one.
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Additional Information:
Yoonla- Create a Digital Lifestyle
How to do affiliate marketing with no money
Side Hustles You Can Start Now
My Top 6 Ways to Make Money Online